Financing for Development

Towards a New, Green Bretton Woods

Stefan Brunnhuber

$112

Hardback

Forthcoming
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English

Routledge
14 May 2025

Monetary economics; International economics; Banking

Series: Routledge Focus on Economics and Finance

This book provides a robust argument for an upgrade of the financial system to enable a more sustainable approach. It explores the upcoming debate on a newly modified international financial architecture, facing serial ecological crisis and the advent of new technologies, and which operates in a multipolar world.

Instead of business as usual (BAU) scenarios, it explores new, innovative, out of the box approaches in the following arenas: taxonomy and regulation, including capital flow management measures and taxations schemas; financial engineering such as hedging instruments private public partnerships; and polity frameworks e.g. IMF, World Bank, Multilateral development banks, voting quota. It addresses the new role of Central Bank Digital Currencies (CBDCs), the current and upcoming campaign on debt restructuring, as well as the role of new technologies - AI and Blockchain - to tackle illicit financial transactions and fraud, including predictive coding and big DATA correlations. The book focuses on the new role of monetary regulators and central bankers in providing conditioned, additional liquidity to finance, hedge and manage our global commons and to mobilize private capital at the same time, meaning that monetary policy will oversteer fiscal and credit policy in a Bretton Woods II process. The author argues that a new green Bretton Woods 2.0 will provide the agenda to transform our economy and our society, and a Green Transition plan is included in the book.

This will serve as a comprehensive reader for students, scholars and activists in the fields of macroeconomics, international development policy, finance and sustainability. It will also appeal to policy makers and executives in the financial sector as well as informed monetary experts.

By: Stefan Brunnhuber
Imprint: Routledge
Country of Publication: United Kingdom
Dimensions: Height: 216mm, Width: 138mm,
ISBN: 9781032814612
ISBN 10: 1032814616
Series: Routledge Focus on Economics and Finance
Pages: 118
Publication Date: 14 May 2025
Audience: College/higher education , Primary
Format: Hardback
Publisher's Status: Forthcoming

1. Introduction: Tomorrow Is Now 2. Finding the Right Narrative: The Many Relevant Stories We Could Tell 3. The Traditional Way: End of Pipe 4. Helping to Set the Course: Taxonomies, Transparency and Transition Plans 5. Resetting the Framework: The New Game in Town 6. Upgrading the System: Towards a Green Bretton Woods 7. Conclusion: The Full Picture

Stefan Brunnhuber, MD, PhD, is Trustee at the World Academy of Art and Science, Member of the Club of Rome and endowed chair in sustainability.

Reviews for Financing for Development: Towards a New, Green Bretton Woods

“An enlightening read, a playbook for new international financial architecture of one of the leading European visionaries…” Frank Van Gansbeke Executive Scholar in Residence at Middlebury College (US) and co-founder Beyond Bretton Woods “This book is a wise and powerful critique of the current global financial system. It must be read now. Otherwise, a few decades later, we will wish to have read it but it will be too late then.” Professor Vedat Akgiray, Director of the Center for Research in Financial Regulation and Corporate Governance, Bogazici University, Turkey, Former Chairman for IOSCO Emerging Markets Committee, and Chairman of Capital Markets Authorities Forum under COMCEC, Vice Chairman of the IOSCO Board for the period of 2012-2014. “Brunnhuber sets out a way, employing critically underused tools left over from the old, such as Special Drawing Rights and AAA-rated, not-for-profit development banks lending to poorly rated countries at the centre of the system.” Avinash Persaud Persaud is a former architect of the Bridgetown Initiative 1.0 for international financial reform, a climate finance negotiator within the UNFCCC, currently special advisor on Climate Change to the President of the Inter-American Development Bank. “Financing for development: Towards an innovative monetary ecosystem to finance a greener tomorrow!” Moneef R. Zou'bi PhD Science Advisor, InterAction Council (IAC); Co-Founding Director, World Sustainability Forum (WSF) “A compelling proposal and a must read for all those who are interested in a system approach for the International monetary system to address piece, stability and inequality.” Donato Kiniger Passigli Vice President & UN Representative Word Academy of Art and Science “A must read for all those who want to understand that one of the most damaging myths of mainstream economics is that money is neutral. Instead it motivates and shapes our economies. Brunnhuber outlines how a new Bretton Woods is needed to create a new monetary architecture for a sustainable future.” Steve Keen, Prof. former head of economics, history and politics, Kingston, London