Workshop on “Recent Developments and Future Prospects for the International Monetary System” in Hong Kong on August 24-25, 2023.

Co-organized by
Hong Kong Institute for Monetary and Financial Research (HKIMR)
ASEAN+3 Macroeconomic Research Office (AMRO)
European Central Bank (ECB)
European Stability Mechanism (ESM)
Bank of Finland Institute for Emerging Economies (BOFIT)

An open question of relevance to research and policy is whether recent developments in the global economy could have significant long-term impacts on the international monetary system. For example, some countries are proposing regional currency areas, some oil producing countries are trying to diversify the currency denomination of their international oil trade, others are diversifying their foreign reserves into non-traditional assets and currencies, which are also playing increasing roles for global trade and investment. Moreover, many countries are experimenting with central bank digital currencies (CBDCs) and plan to explore avenues to facilitate cross-border payments using CBDCs. The goal of this workshop is to analyse recent developments in the international monetary system, and assess future prospects in the context of recent geo-economic developments and risks of fragmentation of the global economy, as well as to explore implications from the perspectives of international economic policy and global financial stability. We invite submissions on topics that include (but not limited to):

  • Regional currency areas and their implications on the international monetary system
  • Evolution of global reserve currencies
  • Changing currency patterns in international finance and trade
  • Central bank digital currencies and innovation in global payment systems
  • De-globalization risks and their potential impact on the international monetary system
  • Capital flows, exchange rate regimes and global financial stability
  • Central bank interventions and exchange rate stability
  • Regional and global financial safety net, effective crisis prevention and management
  • Implications for policy and reform of the international monetary system
  • Crypo assets, financial stability and international monetary system

We invite authors to submit completed papers or extended abstracts. Preferences are for completed papers.

All submissions should be sent by email to in PDF format, using the authors’ names as the file name, and enter "Submission for HKIMR Joint Workshop on 24-25 August 2023 " as the email subject line. Please also indicate in your submission whether you would be interested in being a discussant as well. The papers will be selected based on originality, analytical rigor, and policy relevance. The deadline for paper submission is May 31, 2023. Only the authors of accepted papers will be informed by June 23, 2023.

Workshop organizing committee:
Hongyi Chen (HKIMR)
Jorge Antonio Chan-Lau (AMRO)
Arnaud Mehl, Georgios Georgiadis (ECB)
Gergely Hudecz (ESM)
Iikka Korhonen (BOFIT)