1st Edition

International Economic and Monetary Architecture at the Crossroads Bretton Woods at 80

Edited By Atish R. Ghosh, Fabio Masini Copyright 2026
280 Pages 3 B/W Illustrations
by Routledge

280 Pages 3 B/W Illustrations
by Routledge

The International Monetary Fund and World Bank were founded at the 1944 Bretton Woods conference on the premise that international cooperation and multilateralism would be to the benefit and enrichment of all. Yet, the establishment and evolution of the global financial architecture into its current form were not inevitable: this edited volume examines the “roads not taken” – critical junctures... Read more

Introduction: The Roads Not Taken

Atish R. Ghosh and Fabio Masini

1. Resource-based International Currency: A History of a Failed Consensual Idea

Nikolay Nenovsky

2. Champions of Free Trade: The Peruvian Proposal for a Conference on Commercial Policy at Bretton Woods

César Castillo-García

3. Five Debates at the Creation of the International Monetary Fund

Atish R. Ghosh

4. Four Roads not Taken at Bretton Woods: International Financial Proposals Ahead of their Time

Eric Helleiner

5. Bretton Woods, and the problem of sovereign defaults during the early phase

Juan Flores Zendejas

6. Paths not Taken with the American Payments Imbalance: Bureaucratic Responses in the IMF, OECD, and BIS, 1960 to 1971

Kathryn C. Lavelle

7. SDRs and Development Finance: Uncovering the Early 1970s Debate

Albertina Nania

8. A Failed Attempt towards a Multilayered Safety Net: The Asian Monetary Fund

Fabio Masini

9. A Feminist Opening? Gender Mainstreaming at the International Monetary Fund and the World Bank

Saliha Metinsoy

10. A Critical Road Not Taken? Assessing IMF Inclusive Growth and Frameworks of Technocratic Progressive Taxation in the post-2008 Era

Mark Hibben

11. Luxembourg’s Role in Forging Post-war Financial Governance: Knowledge, Leadership, Diplomacy

Elena Danescu

12. The Governance of the Bretton Woods Institutions: Ambitious but Failed Goals?

Susanna Cafaro

Susanna Cafaro

Biography

Atish R. Ghosh is the Historian of the International Monetary Fund. His recent work has focused on issues related to the stability of the international monetary system. He has published numerous influential studies on international policy coordination and exchange rate regimes, including three books: Economic Cooperation in an Uncertain World (1994), Exchange Rate Regimes: Choices and Consequences (2003), and Currency Boards in Retrospect and Prospect (2008).

Fabio Masini is Professor of Theories and History of International Political Economy at Roma Tre University and Secretary General of Robert Triffin International. His main areas of research concern the history of economics of regional and global economic and monetary integration. His last book was on European Economic Governance: Theories, Historical Evolution, and Reform Proposals (2022) and he recently edited 80 Years after Bretton Woods. Relaunching Multilateralism through Regional Monetary Unions (2025).