International Institutions for Reducing Global Financial Instability

Kenneth Rogoff

NBER Working Paper No. 7265
Issued in July 1999
NBER Program(s):The International Finance and Macroeconomics Program

This paper asks how recent developments in research on banking and sovereign lending can help inform the debate on choosing a new international financial architecture. A broad range of plans is considered, including a global lender of last resort facility, an international bankruptcy court, an international debt insurance corporation, and unilateral controls on capital flows.

Machine-readable bibliographic record - MARC, RIS, BibTeX

Document Object Identifier (DOI): 10.3386/w7265

Published: Journal of Economic Perspectives, Vol. 13, no. 4 (Fall 1999): 21-42. citation courtesy of

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