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How effective has the current framework of global monetary governance been in promoting international coordination and cooperation?

by | May 14, 2022 | Economics | 0 comments

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Please, answer the following essay question:
1. The creation of the Bretton Woods monetary regime in 1944 has been viewed as “history’s first example of a fully negotiated order intended to govern monetary relations among sovereign states.” Discuss the origins and main features of the Bretton Woods system and explain the confluence of factors contributing to the collapse of the fixed exchange rate system in the early 1970s. What was the role of hegemonic powers? How has global monetary governance and order evolved since then? How effective has the current framework of global monetary governance been in promoting international coordination and cooperation?
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GUIDELINES
Suggested structure for your essay:
· Introduction: introduce the debate that the question addresses. Summarize your main argument. Briefly discuss how the essay will be structured.
· Body: a few paragraphs developing your argument.
o First, discuss the different perspectives/approaches to the specific problem addressed in the question (there is always more than one position in a debate!). Identify the authors associated with each perspective and summarize their main arguments and the empirical evidence that they provide in support of these claims.
o Second, explain your position/perspective. Which of the competing views do you find more convincing and why? Base your argument/opinion on supporting empirical evidence.
• Conclusion
REMEMBER
· Use the source attached. Use proper citations. Add a list of works cited at the end of the essay. You are welcome to use additional sources too but only to complement the required/recommended readings on the syllabus.
· Use as many examples (from history or current affairs) as you can.

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