International Economic and Financial Cooperation: New Issues, New Actors, New Responses Geneva Reports on the World Economy 6 International Center for Monetary and Banking Studies (ICMB) International Center for Monetary and Banking Studies 11 A Avenue de la Paix 1202 Geneva Switzerland Tel (41 22) 734 9548 Fax (41 22) 733 3853 Website: www.icmb.ch © 2004 International Center for Monetary and Banking Studies Centre for Economic Policy Research (CEPR) Centre for Economic Policy Research 90-98 Goswell Road London EC1V 7RR UK Tel: +44 (0)20 7878 2900 Fax: +44 (0)20 7878 2999 Email:
[email protected] Website: www.cepr.org British Library Cataloguing in Publication Data A catalogue record for this book is available from the British Library ISBN: 1 898128 84 7 International Economic and Financial Cooperation: New Issues, New Actors, New Responses Geneva Reports on the World Economy 6 Peter B Kenen Council on Foreign Relations and Princeton University Jeffrey R Shafer Citigroup and former US Under Secretary of the Treasury Nigel L Wicks CRESTCo and former Head of HM Treasury Charles Wyplosz Graduate Institute of International Studies, Geneva and CEPR ICMB INTERNATIONAL CENTER FOR MONETARY AND BANKING STUDIES CIMB CENTRE INTERNATIONAL DETUDES MONETAIRES ET BANCAIRES International Center for Monetary and Banking Studies (ICMB) The International Center for Monetary and Banking Studies was created in 1973 as an inde- pendent, non-profit foundation. It is associated with Geneva’s Graduate Institute of International Studies. Its aim is to foster exchange of views between the financial sector, cen- tral banks and academics on issues of common interest.