- Title
- The BRICS contingent reserve arrangement and its position in the emerging global financial architecture
- Creator
- Cattaneo, Nicolette S, Biziwick, Mayamiko, Fryer, David
- Subject
- To be catalogued
- Date
- 2015
- Type
- text
- Type
- book chapter
- Identifier
- http://hdl.handle.net/10962/470366
- Identifier
- vital:77352
- Identifier
- ISBN
- Description
- In its present shape and size the BRICS Contingent Reserve Arrangement (CRA) should be regarded as symbolic and exploratory rather than as a substantive challenger to the International Monetary Fund (IMF). However, the momentum of the BRICS process and the experience of the similar Association of Southeast Asian Nations plus Three (ASEAN+ 3) process suggest that the CRA has the potential to develop in two directions. Firstly, it should aim to become an adequate safety net and provide high-quality macroeconomic monitoring, and hence ensure participating countries’ independence from the IMF. Secondly, it should aim to draw in other emerging economies. However, the CRA in itself does not represent a significant break from prevailing orthodoxy. Its limited scope may condemn it to playing a bit part in the global financial system.
- Format
- 6 pages, pdf
- Publisher
- Policy Insights
- Language
- English
- Relation
- Cattaneo, N., Biziwick, M. and Fryer, D., 2015. The BRICS contingent reserve arrangement and its position in the emerging global financial architecture. Policy Insights, 10
- Rights
- Publisher
- Rights
- Use of this resource is governed by the terms and conditions of the publisher
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Collections
Fryer, David (Mr)
Cattaneo, Nicolette Sylvie (Ms)
RU Books and Book Chapters
SDG 08. Decent Work and Economic Growth
RU Department of Economics and Economic History
| Thumbnail | File | Description | Size | Format | |||
|---|---|---|---|---|---|---|---|
| View Details | SOURCE1 | The BRICS contingent reserve arrangement and its position in the emerging global financial architecture.pdf | 76 KB | Adobe Acrobat PDF | View Details |