Scope and Limits of International Economic Cooperation and Policy Coordination

Abstract

This study considers a number of important issues that relate to international economic cooperation and policy coordination with a view toward assessing the scope and limits to both that exist within the present international monetary system. The sources of the perceived need for cooperation and coordination are first identified, and the experience of countries with policy coordination within the current international monetary system are described. The benefits and costs to policy coordination are then discussed, followed by a consideration of possible ways of increasing the effectiveness of international cooperation.