Outlook At the root of the instability and recurrent crises of the world economy is the very rapid, at times chaotic, growth of finance, inconsistent with the growth in productive activity. This has consequences for the stability of exchange rates, the purchasing power of currencies, interest rates and securities prices.
It has adverse effects on the financial position of banks and intermediaries, the business cycle and employment. The development of the international monetary system and its current configuration are the product of market forces. The institutional context does not permit quantitative limits to be set on the growth of flows.