After the Lehman Shock in September 2008, international policy coordination has played a major role to prevent the recurrence of the Great Depression of the 1930s. At the same time, the premier international forum constituted to debate the world economy has shifted from the G-7 of advanced economies to the G-20, which includes emerging economies. This book explores discussions and policy decisions taken at G-7 and G-20 meetings, as well as in debates within the IMF, on policy challenges, including exchange rate policy, the correction of external imbalances, the prevention of financial crises, the solution to the sovereign debt crises of the Euro-zone, development aid policy, and economic cooperation. It also examines international capital flows into and out of emerging markets, power games between emerging markets and advanced economies on the reform of the international monetary system, and the recent policy initiatives in Japan-dubbed "Abenomics." To properly understand the extraordinary transformation of the world economy in recent years and gain some insight into what the future has in store for us, even those moderately well informed on the unfolding of current economic affairs may feel in need of additional guidance. Navigation can be hard without a map. This book is written to meet this need. The purpose of this book is to make the economic turbulences of the recent past make sense to contextualize, give background, supply necessary theoretical explanation, and so join the dots.

Contenu

International Macroeconomic Policy Coordination and External Imbalances: Introduction; International Macroeconomic Policy Coordination: The Essentials; Correction of External Imbalances and the Chinese Economy; The Inside Story of G-20; The Global Financial Crisis and Policy Coordination: Global Policymaking Before and After the Financial Crisis; From Financial Crises to Sovereign Crises; The Euro Crisis; Abenomics: Japan's Challenges on Deflation, Debt, and Structural Issues; The Prevention of Financial Crises and Policy Coordination: Preventing the Recurrence of Financial Crises; International Capital Flows and Currency Crises; International Discussions on Financial Regulatory Reform; Reform of the International Monetary System; Emerging and Developing Economies and Japan's Strategy for Growth: Assistance to Developing Economies and Emerging Economies; Emerging Players: Brazil, India, and Korea; Coordination on Development Aid Policy; The Advance of China and Japan's Strategy for Growth.