Are you looking for read ebook online? Search for your book and save it on your Kindle device, PC, phones or tablets. Download Reforming The Global Financial Architecture PDF full book. Access full book title Reforming The Global Financial Architecture.
| Author | : Yilmaz Akyuz |
| Publisher | : Zed Books |
| Total Pages | : 176 |
| Release | : 2002-04 |
| Genre | : Business & Economics |
| ISBN | : 9781842771556 |
Instability has become global and systemic. Strengthening international institutions and arrangements would reduce the threat of crises and allow those that do occur to be better managed. These proposals take the developing world into account.
| Author | : Daniel Bradlow |
| Publisher | : |
| Total Pages | : 0 |
| Release | : 2009 |
| Genre | : |
| ISBN | : |
This article evaluates the prospects for meaningful reform of the global financial architecture. It begins by looking at the most significant problems with the current architecture. Thereafter it classifies the current reform efforts into three areas -- reforms that in fact have been implemented, reforms that have been proposed but not yet implemented, and reforms that are only under discussion. The paper then evaluates the adequacy of these reform efforts and makes some brief proposals for future reform efforts.
| Author | : |
| Publisher | : |
| Total Pages | : 0 |
| Release | : |
| Genre | : |
| ISBN | : |
Introduction The international financial crises of the 1990s and early years of the 21st century initiated the beginnings of reform to the global financial system. [...] Drawing on the relevant precedents both in the developed and developing world, as well as the shortcomings of the current system for developing countries, the paper addresses the following questions. [...] However, the principle of maintaining an African voting majority in the Bank (and parity in the Fund) persisted, although in the case of the Bank the African majority has subsequently drifted down through successive capital replenishment negotiations, at the insistence of the non-regional members (English and Mule, 1996). [...] And the AfDB, analogously to its counterpart in the Americas, is centrally involved with the OAU and UNECA in pan-African cooperation initiatives such as the New Partnership for African Development (NEPAD) and the creation of the African Union (Devlin and Castro 2002:27). [...] However, the mandate of the African Development Bank Group covers the whole continent, including the countries of North Africa and the Republic of South Africa.
| Author | : Montek S. Ahluwalia |
| Publisher | : Commonwealth Secretarial |
| Total Pages | : 70 |
| Release | : 2000-01-01 |
| Genre | : Business & Economics |
| ISBN | : 9780850926422 |
This volume is a report prepared for the 1999 Commonwealth Finance Ministers Meeting. Arguing that contemporary crises are very different from traditional balance of payment problems, it identifies issues in crisis resolution and proposes a new governance structure.
| Author | : Jomo Kwame Sundaram |
| Publisher | : Columbia University Press |
| Total Pages | : 561 |
| Release | : 2011-01-17 |
| Genre | : Business & Economics |
| ISBN | : 0231527276 |
The 1944 Bretton Woods conference created new institutions for international economic governance. Though flawed, the system led to a golden age in postwar reconstruction, sustained economic growth, job creation, and postcolonial development. Yet financial liberalization since the 1970s has involved deregulation and globalization, which have exacerbated instability, rather than sustained growth. In addition, the failure of Bretton Woods to provide a reserve currency enabled the dollar to fill the void, which has contributed to periodic, massive U.S. trade deficits. Our latest global financial crisis, in which all these weaknesses played a part, underscores how urgently we must reform the international financial system. Prepared for the G24 research program, a consortium of developing countries focused on financial issues, this volume argues that such reforms must be developmental. Chapters review historical trends in global liquidity, financial flows to emerging markets, and the food crisis, identifying the systemic flaws that contributed to the recent downturn. They challenge the effectiveness of recent policy and suggest criteria for regulatory reform, keeping in mind the different circumstances, capacities, and capabilities of various economies. Essays follow ongoing revisions in international banking standards, the improved management of international capital flows, the critical role of the World Trade Organization in liberalizing and globalizing financial services, and the need for international tax cooperation. They also propose new global banking and reserve currency arrangements.
| Author | : Stuart P. M. Mackintosh |
| Publisher | : Routledge |
| Total Pages | : 213 |
| Release | : 2015-10-16 |
| Genre | : Political Science |
| ISBN | : 1317531752 |
In 2007-2008 the global financial and economic system was in turmoil. This volume focuses on how the global financial architecture was redesigned following the financial crash of 2008. Its central claim is that the reforms constituted a paradigm shift, a move from the dominance of market authority to the re-assertion of state authority over financial markets and actors. The book underscores that the cycle of boom and bust, of crisis response, reform and eventual relapse are not only economic but also conceptual and ideological. Ideas matter in the political and economic calculus of policy making. Economies are underpinned by and linked to ideological narrative, a prevailing policy consensus that places limits on policy actions and options and constitutes a dominant worldview or paradigm. To become real, to be lasting, to impact actual policy choices and market actor decisions, a re-regulatory paradigm shift cannot just be conceptual or ideological. It must also be present in the institutional constructs and policy decisions that flow from the ideological regulatory shift. To gauge the fluctuating strength of the paradigm shift the book addresses the G20 summit process, the creation of the FSB, the policy output of the new forums, for signs of permanency, strength, and possible effectiveness. This work presents important new material on the financial crisis and the regulatory response to it, which will be valuable for researchers, teachers and students alike.
| Author | : |
| Publisher | : |
| Total Pages | : 37 |
| Release | : 2000 |
| Genre | : |
| ISBN | : |
After an introduction on inconsistency in the international financial system, section 2 of this paper focusses on the role of financial markets in emerging economies and on the lessons from recent crises. It seeks to explain why, under current international financial arrangements, both borrowers in emerging markets and lenders in industrial countries have had a strong incentive to resort to government guarantees as a way of encouraging capital flows. It then considers how such behaviour worked to increase the moral hazard inherent in the system. Section 3 sets out broad outlines of proposals for a comprehensive, market-based approach to reform of the international financial architecture. It lays out several broad avenues for change in emerging-market countries: financial sector strengthening, improvements in macroeconomic policy implementation, associated changes in exchange rate regimes & monetary policy targets, and a consistent program of financial market deepening & capital account liberalization. It also considers the role that governments & private-sector lenders in industrial countries can play in strengthening the international financial system and in mitigating the effects of crises. Section 4 discusses a set of reforms for the International Monetary Fund & other international financial institutions that would reinforce the proposals in section 3. It also discusses how possible changes in arrangements for private-sector involvement in the prevention & resolution of financial crises fits into a comprehensive market-based approach to reform of the international financial architecture. The final section summarizes the main conclusions.
| Author | : Stuart P. M. Mackintosh |
| Publisher | : Routledge |
| Total Pages | : 181 |
| Release | : 2020-10-29 |
| Genre | : Political Science |
| ISBN | : 1000200019 |
More than ten years on from the most intense phase of the global financial crisis, and the collective international response in the G20 summit in London, a ‘new normal’ has emerged with systems in place to mitigate against further banking crises. This updated new edition analyzes this post-crisis international and national regulatory framework and asks whether the current paradigm is fit for purpose as new dangers gestate and develop. This new edition includes a discussion of the impact of the aggressively deregulatory and anti-globalist policies of the Trump administration and its pursuit of an ‘America First’ policy and explores its implications for the regulatory landscape constructed and tended by previous leaders. The author addresses new and future systemic risks, many outside the regulated banking sector, which have grown in importance since 2015. He develops possible future scenarios for the international regulatory architecture, both negative and positive, asking, ‘Are we better prepared for future banking crises?’ New risks, including the COVID-19 pandemic and economic crash, are testing the global system; and the G20, without US leadership, may be failing in this latest most severe crisis of our lifetimes. This book provides a unique narrative explanation drawn from leading actors of key events and policy changes as they unfolded immediately post-crisis. The author builds upon the first edition to capture key developments that have occurred during the past five years, while raising key questions and vulnerabilities, and looking at future risks and challenges that may emerge. This text will be of great interest to students, teachers and researchers of financial frameworks, globalisation and political economy.
| Author | : Anthony Elson |
| Publisher | : Springer |
| Total Pages | : 477 |
| Release | : 2011-03-28 |
| Genre | : Business & Economics |
| ISBN | : 0230118011 |
This book deals with the recent problems arising from the growth of financial globalization (i.e. the growing integration of capital markets across national borders), as reflected in the current global financial crisis, and the need to improve what has come to be known as the international financial architecture.
| Author | : |
| Publisher | : DIANE Publishing |
| Total Pages | : 38 |
| Release | : |
| Genre | : |
| ISBN | : 1428967842 |
