Rules and Discretion in International Economic Policy

June 15, 1992

Summary

Economic interdependence offers the potential for raising global welfare, but there is a fuzzy boundary between national interests and global objectives in the economic policy area. This paper examines the boundary area. It concludes that all international economic regimes must entail a mix of rules and discretion, and it considers the most appropriate weights to be given to rules and discretion.

Subject: Debt default, Debt strategy, Economic integration, Exchange rate anchor, Exchange rates, External debt, Foreign exchange, Monetary policy

Keywords: Central and Eastern Europe, debt, Debt default, debt discussion, Debt strategy, Eastern Europe, economic system, economy, Europe, Exchange rate anchor, Exchange rates, Global, importance of rule, OP, reform experience, reform process, Western Europe

Pages:
57
Volume:
1992
DOI:
https://doi.org/10.5089/9781557752376.084
Issue:
008
Series:
Occasional Paper No. 1992/008
Stock No:
S097EA0000000
ISBN:
9781557752376
ISSN:
0251-6365

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