Jan Joost Teunissen, "Why should we have listened better to Robert Triffin?", May 2009, speech at conference, "The economic and financial crisis of 2008-09", in Louvain-la-Neuve, 7-8 May 2009. The author discusses why policymakers should have listened better to Robert Triffin's suggestions of how to fundamentally reform and improve the functioning of the international monetary system. He refers to the recent plea by China's central banker Zhou Xiaochuan to create a new global reserve currency replacing the dollar and reminds that three years earlier Professor Fan Gang, member of the Monetary Policy Committee of China's central bank and member of the Fondad Network, made a similar plea in his contribution to the Fondad conference and book Global Imbalances and the US Debt Problem: Should Developing Countries Support the US Dollar?
Jane D'Arista and Stephany Griffith-Jones, "Agenda and Criteria for Financial Regulatory Reform", September 2008, unpublished.This paper is written by two experts in international finance, both concerned with the functioning of the global financial system, its current crisis and its (likely) effects on people less fortunate than the rich. They suggest an agenda for financial regulatory reform -- a key issue that needs to be addressed urgently. The paper is a draft of a chapter in a forthcoming book on the current financial turmoil to be edited by Joseph Stiglitz, Stephany Griffith-Jones and José Antonio Ocampo of Columbia University.
Wing Thye Woo, "The Emerging Global Stagflation: A Different Malaise from the 1970s", May 13, 2008, unpublished. Wing Thye Woo, Professor at the University of California, wrote a piece on the state of the US and global economy identifying the financial markets as the flashpoint of the problem. A discussion about the piece can be found on the Fondad blog "Thoughts" of 20 May 2008.
Stephany Griffith-Jones and José Antonio Ocampo, "Sovereign Wealth Funds: A Developing Country Perspective", Initiative for Policy Dialogue, Columbia University, February 2008. Stephany Griffith-Jones and José Antonio Ocampo discuss the growing role of Sovereign Wealth Funds in global financial markets. They analyse, from a developing country perspective, the rationale for such funds and the implications for the world economy.
Robert Triffin, "The International Accounts of the United States and their Impact upon the Rest of the World," version published by the Banque Internationale at Luxembourg in the serie "Cahiers Économiques" 3/85, Luxembourg, 1985. rench version: "Les comptes internationaux des États-Unis et leur impact sur le reste du monde" .
In this article of 1985, in an English and French version, famous professor in monetary economics Robert Triffin discusses "the main shortcoming" of most analyses of international financial markets. In his view, it is "the failure to mention the fundamental role played in capital movements by the continued acceptance of even the inconvertible paper dollar as the major ‘parallel world currency' in international contracts, settlements and reserve accumulation by commercial banks as well as central banks."
The International Monetary Crunch: Crisis or Scandal? Inspired by Robert Triffin, Maria da Conceição Tavares, Jan Kregel and Wim Duisenberg, whose thoughts he extensively reports, Jan Joost Teunissen explains in a long article how crises in international finance up to the mid-eighties have been determined by "an amazingly small group" of central bankers, finance ministers and commercial bankers of the rich countries. Fondad includes "The International Monetary Crunch: Crisis or Scandal?" on its website to stimulate readers to draw lessons from history.