International monetary and financial institutions
The expansion of literature concerning international monetary and financial institutions has paved the way the creation of different approaches to address the issues surrounding the topic. Understanding differently how each international monetary and financial institutions affect how states operate can greatly contribute to policy making and improvements vital for the country’s economic growth to address the globalizing economy.
The five articles showcases different methods and mechanisms made by international monetary and financial institutions in promoting international trade as well as the different theoretical methods used by the authors in pursuing the study. Each focused on the several facets in the theory to clearly justify the areas wherein issues and trends can be assessed. The study of Widmaier looked into how these institutions cater to the creation and promotion of a common understanding and culture for trade.
While in the study of Leblang, he used the economic theory to determine the feasibility of floating the currency or pegging it at a certain amount. In addition, the research of Mosley looks at how these international institutions promote and facilitate compliance by means of (1) communication, and (2) monitoring mechanisms. The same theory was applied by Schultz and Weingast in their research. They looked into how these institutions greatly contribute to increased competition and trade in the globalizing economy.
Lastly, Simmons looks into how international law theory affects how international and financial institutions make states commit and comply with the standards set by these institutions. To conclude, there are different faces in which international monetary and financial institutions can be addressed. This creates situations for state policy makers to consider the depth and importance of the issue. Each issue may have its relevant and credible importance to the field. The ability of actors involved to address the issue may prove to be important in the future.