By Steffen Murau, Fabian Pape and Tobias Pforr The view that the international monetary system is hierarchical has become increasingly common in International Political Economy (IPE) scholarship. Yet the nature, shape, and origin of this hierarchy often remain vague, as assessments vary considerably based on the analytical starting point. For example, is it a hierarchy […]
On Thursday, Nov. 12, the Global Development Policy Center hosted a live webinar discussion with Dr. Zhongxia Jin, the Executive Director for the People’s Republic of China at the International Monetary Fund (IMF). Dr. Jin joined the International Monetary Fund in February 2015. Prior to that, he held various positions in Beijing, including as Director-General […]
Today’s era of financial globalization is characterized by an unprecedented expansion of global financial flows. Partly, these flows form the counterpart to global value chains and the globalization of trade in goods and services. In the last few decades, however, they have been increasingly decoupled from the real sector. The financial infrastructure that enables this […]
The US dollar continues to dominate the international monetary and financial system, but it plays an outsized role that puzzles many scholars. In fact, the US share of both world gross domestic product (GDP) and global trade has declined post-war. However, some recent work on the dollar has looked beyond the US economy to the […]