Are you looking for read ebook online? Search for your book and save it on your Kindle device, PC, phones or tablets. Download Towards Reform Of The International Financial Architecture PDF full book. Access full book title Towards Reform Of The International Financial Architecture.
| Author | : Group of 77. High-level Advisory Group of Personalities and Intellectuals to Prepare a Report on Globalization and Its Impact on Developing Countries (2001 : Geneva) |
| Publisher | : |
| Total Pages | : 18 |
| Release | : 2001 |
| Genre | : |
| ISBN | : |
| Author | : Rosa Lastra |
| Publisher | : Springer |
| Total Pages | : 408 |
| Release | : 2001 |
| Genre | : Business & Economics |
| ISBN | : |
Papers presented at a conference in London in May 1999.
| 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 | : 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 | : |
| 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 | : 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 | : Peter B. Kenen |
| Publisher | : Peterson Institute |
| Total Pages | : 212 |
| Release | : 2001 |
| Genre | : Business & Economics |
| ISBN | : 9780881322972 |
Kenen (economics and international finance, Princeton University) reviews the reform efforts that followed the 1994-95 Mexican crisis, and evaluates their results in the time since then. He compares the existing efforts with the more radical recommendations of the Meltzer Report, and considers the implications of his analysis for the role of the IMF. He then offers his own recommendations for further reform. c. Book News Inc.
| Author | : Mr.Barry J. Eichengreen |
| Publisher | : INTERNATIONAL MONETARY FUND |
| Total Pages | : 26 |
| Release | : 2009-05-01 |
| Genre | : Business & Economics |
| ISBN | : 9781451872637 |
The Global Credit Crisis of 2008-09 has underscored the urgency of reforming the international financial architecture. While a number of short-term reforms are already in train, this paper contemplates more ambitious reforms of the international financial architecture that might be implemented over the next ten years. It proposes routinizing the expansion of IMF quotas and the conduct of exchange rate surveillance. It contemplates an expanded role for the SDR in international transactions, which would require someone-like the IMF-to act as market maker. It considers proposals for reimposing Glass-Steagall-like restrictions on commercial and investment banking, something that will have to be coordinated internationally to be feasible. Other proposals would require banks to purchase capital insurance; here the question is who would be on the other side of the market. Again there is likely to be a role for the IMF. Then there are arguments for a new agency or institution to deal with cross-border bank insolvencies. Any such entity will require staff support, which might plausibly come from the Fund. Finally, some insist that international colleges of regulators are not enough-that it is desirable to create a World Financial Organization (WFO) with the power to sanction members whose national regulatory policies are not up to international standards. A WFO will similarly need staff support, of which the IMF would be one possible source. All this of course presupposes meaningful IMF governance reform so that the institution has the legitimacy and efficiency to assume these additional responsibilities. The paper therefore concludes with some conventional and unconventional proposals for IMF governance reform.
| Author | : Yilmaz Akyüz |
| Publisher | : |
| Total Pages | : 28 |
| Release | : 2000 |
| Genre | : Capital movements |
| ISBN | : |
This paper briefly surveys the progress made in various areas of reform of the international financial architecture since the outbreak of the East Asian crisis, and explains the principal technical and political obstacles encountered in carrying out fundamental changes capable of dealing with global and systemic instability. It ends with a brief discussion of what developing countries could do at the global, national or regional level to establish defence mechanisms against financial instability and contagion.
| Author | : Shalendra Sharma |
| Publisher | : Manchester University Press |
| Total Pages | : 409 |
| Release | : 2018-07-30 |
| Genre | : Business & Economics |
| ISBN | : 1526137682 |
This electronic version has been made available under a Creative Commons (BY-NC-ND) open access license. The Asian financial crisis of 1997-98 shook the foundations of the global economy and what began as a localised currency crisis soon engulfed the entire Asian region. What went wrong and how did the Asian economies long considered 'miracles' respond? How did the United States, Japan and other G-7 countries respond to the crisis? What role did the IMF play?. Why did China, which suffers many of the same structural problems responsible for the crisis remain conspicuously insulated from the turmoil raging in its midst?. What explains the remarkable recovery now underway in Asia? In what fundamental ways did the Asian crisis serve as a catalyst to the current thinking about the "new international financial architecture"?. This book provides answers to all the above questions and more, and gives a comprehensive account of how the international economic order operates, examines its strengths and weaknesses, and what needs to be done to fix it.
