Rules and Discretion in International Economic Policy
( Occasional Papers )
Publication series ： Occasional Papers
Author： Mr. Manuel Guitián
Publisher： INTERNATIONAL MONETARY FUND
Publication year： 1992
E-ISBN: 9781452768168
P-ISBN(Paperback): 9781557752376
Subject： F114 International economic relations
Language： ENG
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Description
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.