Study On The Current International Monetary System

After reading through literatures from both home and abroad, it is discovered that researches concerning the International Monetary System (IMS) emphasize particularly on comparison and analysis of it based on reviewing the history, or a certain aspect of the current international monetary system. However none have ever conducted the systematic research towards the current system by means of mathematical reasoning and positive analysis. This paper begins with the generalization of the evolution of the International Monetary System, and then, under the Current International Monetary System (CIMS), in the way of step-up hierarchy, makes thorough demonstration and research of problems such as the relationship between currencies, the features of the exchange rate arrangement, the adjustment mechanism of balance of payment, the functioning of the CIMS, the inherent defects and the trend of evolution of it in turn. In consideration of the importance of East Asia's economy to the world economy, the last part of the paper analyzes the related problems such as the exchange rate coordination in East Asia and the relationship between the monetary cooperation in East Asia and the CIMS. The whole paper can be concretely summarized as follows:1. The review of the evolution of the CIMS. This paper first makes a general review of the problems, which the IMS such as the classical gold standard system, gold exchange standard system, Bretton Woods system, have in the fields of the features of the exchange rate regime, standard currency, functioning and the adjustment mechanism of the balance of payment. This work will make a both theoretical and practical plane for latter theoretical study, positive analysis and contrastive argumentation.2. The relationship between currencies under the CIMS. Based on the horizon within the trading and invoicing currency, reserve currency and anchor currency, it makes a positive analysis of the standard currency under the current international monetary system. Further more, recur to the basic thinking pattern of network analysis, and according to the principle of sampling survey, this part firstly takes a sample made up of 28 countries from the 7 continent across the world, makes statistical...