Climate crisis, central banks and the IMF reform

• Authors: Anna Chmielewska , Andrzej Sławiński

Abstracts

EN

This paper explores some of the ways in which international central banking can contribute to containing the imminent worldwide climate crisis in a context in which the role of national central banks is important but effectively limited to employing two new stabilization policy tools: macroprudential policy and QE programmes. The authors argue in favour of institutional reform that would gradually transform the IMF into an international central bank and the SDR into a genuine international currency. Even its limited scope would substantially increase the IMF’s capacity to solve one of the key problems of the global climate policy, namely the shortage of funding for the decarbonization of developing economies.

Keywords

EN

climate crisis; central banks; Special Drawing Rights

• Publisher: Uniwersytet Ekonomiczny w Poznaniu
• Journal: Economics and Business Review
• Year: 2021
• Volume: 7
• Issue: 4
• Pages: 7-27

Contributors

author

Anna Chmielewska

• Warsaw School of Economics, Warsaw, Poland

author

Andrzej Sławiński

• Warsaw School of Economics, Warsaw, Poland

Identifiers

DOI

10.18559/ebr.2021.4.2

Biblioteka Nauki

1891379