Editor's Preface; P. Savona. Summary of Findings of the Guido Carli Association's Second International Conference; P. Savona. Introduction: A New Architecture or a New System? A Survey of International Monetary Reform in the 1990's; F. Saccomanni. Part I: Economic Contents. Capital Flows, Exchange Rates, and the New International Financial Architecture: Six Crises in Search of a Generic Explanation; R.Z. Aliber. Comment to Aliber's `Capital Flows, Exchange Rates, and The New International Financial Architecture: Six Crises in Search of a Generic Explanation'; M. Fratianni. Some Lessons for Bank Regulation from Recent Crises; D.T. Llewellyn. Comment to Llewellyn `Some Lessons for Regulation from Recent Bank Crisis'; J.R. Shafer. International Financial Architecture and the Economic Renaissance in Europe; M.C. Watson. The Present International Monetary System: Problems, Complications and Reforms; D. Salvatore. On Monetary Analysis of Derivatives; P. Savona, et al. Comment to Savona, Maccario and Oldani's `On Monetary Analysis of Derivatives'; P.M. Oppenheimer. Concluding Remarks: Some Challenges for Reformers and Architects; A.K. Swoboda. Part II: Legal Aspects. New Financial Architectures and Legal Infrastructures towards a Corrected and Compensated International Monetary System; A. Predieri. Financial Derivatives and Private International Law: Some Remarks; S.M. Carbone. Private Law Instruments for Reduction of Risks on International Financial Markets: Results and Limits of Self-Regulation; M.C. Malaguti.