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Introduction

Published online by Cambridge University Press:  10 April 2020

Claudio Borio
Affiliation:
Bank for International Settlements
Stijn Claessens
Affiliation:
Bank for International Settlements
Piet Clement
Affiliation:
Bank for International Settlements
Robert N. McCauley
Affiliation:
Bank for International Settlements
Hyun Song Shin
Affiliation:
Bank for International Settlements
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Summary

It is a commonplace to state that we live in a time of continuous change. But that doesn’t make it any less true. The force and impact of change become all the more obvious when considering a horizon that spans two generations. Fifty years ago, a mere handful of advanced industrial economies dominated the global economy. Since then, a wide array of countries have emerged as new economic powerhouses. Economic development and prosperity are now more equally spread across the globe than at any other time over at least the past two centuries.

Type
Chapter
Information
Promoting Global Monetary and Financial Stability
The Bank for International Settlements after Bretton Woods, 1973–2020
, pp. 1 - 10
Publisher: Cambridge University Press
Print publication year: 2020

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