Governing Finance

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Governing Finance

Author : Andrew Walter
Publisher : Cornell University Press
Page : 255 pages
File Size : 44,9 Mb
Release : 2011-03-15
Category : Business & Economics
ISBN : 9780801458156

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Governing Finance by Andrew Walter Pdf

The international financial community blamed the Asian crisis of 1997–1998 on deep failures of domestic financial governance. To avoid similar crises in the future, this community adopted and promoted a set of international "best practice" standards of financial governance. The G7 asked specialized public and private sector bodies to set international standards, and tasked the International Monetary Fund and the World Bank with their global dissemination. Non-Western countries were thereby encouraged to emulate Western practices in banking and securities supervision, corporate governance, financial disclosure, and policy transparency. In Governing Finance, Andrew Walter explains why Indonesia, Malaysia, South Korea, and Thailand—key targets and test cases of this international standards project—were placed under intense pressure to transform their domestic financial governance. Walter finds that the depth of the economic crisis, and more enduring aspects of Asian capitalism, such as family ownership of firms, made substantive compliance with international standards very costly for the private sector and politically difficult for governments to achieve. In spite of international compliance pressure, the result was varying degrees of cosmetic or "mock" compliance. In a book containing lessons for any agency or country attempting to implement lasting change in financial governance, Walter emphasizes the limits of global regulatory convergence in the absence of support from domestic politicians, institutions, and firms.

The Globalized Governance of Finance

Author : David Zaring
Publisher : Cambridge University Press
Page : 181 pages
File Size : 41,6 Mb
Release : 2019-12-12
Category : Business & Economics
ISBN : 9781108475518

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The Globalized Governance of Finance by David Zaring Pdf

Argues that the global, informal process supervising the financial system is an overlooked form of international governance that actually works.

When Things Don't Fall Apart

Author : Ilene Grabel
Publisher : MIT Press
Page : 401 pages
File Size : 40,9 Mb
Release : 2017
Category : Business & Economics
ISBN : 9780262037259

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When Things Don't Fall Apart by Ilene Grabel Pdf

An account of the significant though gradual, uneven, disconnected, ad hoc, and pragmatic innovations in global financial governance and developmental finance induced by the global financial crisis. In When Things Don't Fall Apart, Ilene Grabel challenges the dominant view that the global financial crisis had little effect on global financial governance and developmental finance. Most observers discount all but grand, systemic ruptures in institutions and policy. Grabel argues instead that the global crisis induced inconsistent and ad hoc discontinuities in global financial governance and developmental finance that are now having profound effects on emerging market and developing economies. Grabel's chief normative claim is that the resulting incoherence in global financial governance is productive rather than debilitating. In the age of productive incoherence, a more complex, dense, fragmented, and pluripolar form of global financial governance is expanding possibilities for policy and institutional experimentation, policy space for economic and human development, financial stability and resilience, and financial inclusion. Grabel draws on key theoretical commitments of Albert Hirschman to cement the case for the productivity of incoherence. Inspired by Hirschman, Grabel demonstrates that meaningful change often emerges from disconnected, erratic, experimental, and inconsistent adjustments in institutions and policies as actors pragmatically manage in an evolving world. Grabel substantiates her claims with empirically rich case studies that explore the effects of recent crises on networks of financial governance (such as the G-20); transformations within the IMF; institutional innovations in liquidity support and project finance from the national to the transregional levels; and the “rebranding” of capital controls. Grabel concludes with a careful examination of the opportunities and risks associated with the evolutionary transformations underway.

Governing Finance in Europe

Author : Adrienne Héritier,Magnus G. Schoeller
Publisher : Edward Elgar Publishing
Page : 240 pages
File Size : 47,6 Mb
Release : 2020-08-28
Category : Electronic
ISBN : 1839101113

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Governing Finance in Europe by Adrienne Héritier,Magnus G. Schoeller Pdf

How do regulatory structures evolve in EU financial governance? Incorporating insights from a variety of disciplines, Governing Finance in Europe provides a comprehensive framework to investigate the dynamics leading to centralisation, decentralisation and fragmentation in EU financial regulation. Offering a comprehensive and generalizable theoretical account of regulatory centralisation, this book combines theoretical approaches from political science, law, sociology and economics to trace centralisation in EU financial governance. Contributors build on a rich political science and legal literature and offer empirical analyses of major EU legislative packages in financial regulation, including the Markets in Financial Instruments Directive II (MiFID II) and Capital Markets Union (CMU). This book systematically identifies and examines the forces and counter-forces on regulatory centralisation. It also offers conjectures as to who benefits from the regulation and how decision-makers are held politically and legally accountable. Featuring contributions from internationally renowned scholars, this book is key reading for academics working in finance and financial policies, particularly those investigating European politics, regulation and regional integration. It will also be of interest to practitioners and policymakers, as chapters provide unique insights into the real-world implications of financial regulation.

The Making of Modern Finance

Author : Samuel Knafo
Publisher : Routledge
Page : 269 pages
File Size : 47,8 Mb
Release : 2013-07-03
Category : Political Science
ISBN : 9781134066223

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The Making of Modern Finance by Samuel Knafo Pdf

The Making of Modern Finance is a path-breaking study of the construction of liberal financial governance and demonstrates how complex forms of control by the state profoundly transformed the nature of modern finance. Challenging dominant theoretical conceptions of liberal financial governance in international political economy, this book argues that liberal economic governance is too often perceived as a passive form of governance. It situates the gold standard in relation to practices of monetary governance which preceded it, tracing the evolution of monetary governance from the late middle Ages to show how the 19th century gold standard transformed the way states relate to finance. More specifically, Knafo demonstrates that the institutions of the gold standard helped to put in place instruments of modern monetary policy that are usually associated with central banking and argues that the gold standard was a prelude to Keynesian policies rather than its antithesis. The author reveals that these state interventions played a vital role in the rise of modern financial techniques which emerged in the late 18th and 19th century and served as the foundation for contemporary financial systems. This book will be of strong interest to students and scholars of international political economy, economic history and historical sociology. It will appeal to those interested in monetary and financial history, the modern state, liberal governance, and varieties of capitalism.

The Globalized Governance of Finance

Author : David Zaring
Publisher : Cambridge University Press
Page : 181 pages
File Size : 49,5 Mb
Release : 2019-12-12
Category : Law
ISBN : 9781108654791

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The Globalized Governance of Finance by David Zaring Pdf

Big banks are capable of wreaking havoc on the global economy, and governments have often felt powerless to stop them. Regulators have responded by developing coordinated programs to handle banks, insurers, broker dealers, shadow banks and other businesses that can blow up in a crisis. This program began informally and undemocratically, and has developed into something much more organized, formalized and predictable, even though it has never been legally enforceable. David Zaring examines the realities of the current international financial system and concludes that in fact this is a well-ordered and functioning regulatory environment: the international financial system enjoys a substantial degree of compliance, and operates predictably and harmoniously. As a result, perhaps this could serve as a paradigm for future global governance. Zaring explores three aspects of international financial regulation that can inform global governance: harmonization through rules, cooperation on enforcement and agreement on fundamental principles.

Extinction Governance, Finance and Accounting

Author : Jill Atkins,Martina Macpherson
Publisher : Routledge
Page : 610 pages
File Size : 47,7 Mb
Release : 2022-05-30
Category : Business & Economics
ISBN : 9781000570182

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Extinction Governance, Finance and Accounting by Jill Atkins,Martina Macpherson Pdf

The planet is currently experiencing a mass extinction event, with human and business activity being the root cause of species loss and habitat destruction. Industries, companies, banks, investors, accountants and auditors have all played their role. This book explores how they can also provide a solution. The book presents plans, metrics, frameworks, mechanisms and financial innovations that can be, and are being, implemented through the financial markets in order to save and protect species, enhance biodiversity and, at the same time, preserve the financial markets and the business world. This biodiversity handbook addresses the intersection between species extinction and the global capitalist system. With contributions from leading non-governmental organisations such as the Capitals Coalition, Business for Nature, the Ecojustice Foundation, ShareAction and the Endangered Wildlife Trust, plus senior researchers in the field, as well as industry experts from Moody’s, EOS at Hermes Federated Investment Management, BlueBay Asset Management, ODDO BHF Asset Management and OSSIAM (to mention just a few), this book is at the forefront of addressing the crucially important topics of extinction accounting, finance and governance. Drawing on leading research, the book is written in an accessible style and is relevant to researchers and students in the fields of sustainability, governance, accounting, finance, corporate social responsibility and corporate governance. It is essential reading for investors, responsible investors, bankers, business leaders and policy makers in the field of sustainable financial markets. Given the interdisciplinary nature of this book, it is useful to conservationists, ecologists and others involved in species and biodiversity protection.

Global Governance of Financial Systems

Author : Kern Alexander,Rahul Dhumale,John Eatwell
Publisher : Oxford University Press on Demand
Page : 329 pages
File Size : 51,9 Mb
Release : 2006
Category : Business & Economics
ISBN : 9780195166989

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Global Governance of Financial Systems by Kern Alexander,Rahul Dhumale,John Eatwell Pdf

The book sets forth the economic rationale for international financial regulation and what role, if any, international regulation can play in effectively managing systemic risk while providing accountability to all affected nations. The book suggests that a particular type of global governance structure is necessary to have more efficient regulation of the international financial system.

Governance of Global Financial Markets

Author : Emilios Avgouleas
Publisher : Cambridge University Press
Page : 501 pages
File Size : 45,9 Mb
Release : 2012-04-26
Category : Business & Economics
ISBN : 9780521762663

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Governance of Global Financial Markets by Emilios Avgouleas Pdf

Analyses governance structures for international finance, evaluates current regulatory reforms and proposes a new governance system for global financial markets.

Governance of International Banking

Author : Dirk Schoenmaker
Publisher : Oxford University Press
Page : 238 pages
File Size : 54,5 Mb
Release : 2013-03-05
Category : Business & Economics
ISBN : 9780199971619

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Governance of International Banking by Dirk Schoenmaker Pdf

Global governance of international banks is breaking down after the Great Financial Crisis, as national regulators are withdrawing on their home turf. New evidence presented illustrates that the global systemically important banks underpin the global financial system. This book offers solutions for the effective governance of global banks.

Governing Financial Globalization

Author : Andrew Baker,David Hudson,Richard Woodward
Publisher : Routledge
Page : 259 pages
File Size : 43,9 Mb
Release : 2005-02
Category : Business & Economics
ISBN : 9781134296149

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Governing Financial Globalization by Andrew Baker,David Hudson,Richard Woodward Pdf

Money, finance and credit are literally the lifeblood of the modern economy. The distribution of money and credit are essential to productive investment in trade and industry, to the maintenance of consumer purchasing power and demand, to individuals' social status and standard of living, and ultimately to public order. This importnat new volume provides a wide-ranging discussion of both the potential and the problems arising from the application of multi-level governance literature to the monetary and financial domain. The contributors achieve this through a range of case studies and conceptual discussions of the issues raised by financial and monetary governance, acknowledging that multi-level governance has to take the form of a framework which recognizes a fluid range of scales, and the significance of non-formal institutional and social nodes of authority.

The Governance and Regulation of International Finance

Author : Fabrizio Cafaggi,Geoffrey P. Miller
Publisher : Edward Elgar Publishing
Page : 220 pages
File Size : 43,8 Mb
Release : 2013
Category : Business & Economics
ISBN : 9780857939487

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The Governance and Regulation of International Finance by Fabrizio Cafaggi,Geoffrey P. Miller Pdf

ÔThe publication of this book could hardly be more timely; it fills a gap in present-day discussion of the reasons for the recent ongoing financial crises, and who was responsible. The balance between the governance and regulation of the international finance market underpins how securely we proceed into the future. At a time when sovereign defaults dominate public discussion, this issue is of quintessential importance. The editors are to be congratulated for this important publication.Õ Ð Christoph Paulus, Humbolt University of Berlin, Germany This thought-provoking book adds a new perspective to the analysis of how regulation should respond to the global financial crisis of 2008Ð2009. It focuses on the ÔprivateÕ as opposed to ÔpublicÕ aspect of regulation, and highlights the works of the publicÐprivate dialectic in regulation and enforcement. The expert authors examine what is perhaps the single most important sector in which public and private regulation and enforcement intersect: the arena of banking and global finance. The detailed analysis of these particular areas of finance thus provides a means for investigating aspects of the important topic of private regulation and enforcement in financial markets. A number of pertinent questions are addressed, including: How does private regulation and enforcement enhance or detract from the legitimacy of the process by which these market segments are managed and controlled? How does private regulation and enforcement manifest independence of action and judgment, as compared with public regulation? How does private regulation and enforcement measure up along dimensions of quality, relative to public regulation? and, finally, What forms of accountability characterize private as opposed to public regulation and enforcement? Illustrating the works of the publicÐprivate dialectic in regulation and enforcement, this challenging book will prove a fascinating read for academics, scholars and practitioners with an interest in regulation and governance issues, and in financial and banking law.

Crypto-Finance, Law and Regulation

Author : Joseph Lee
Publisher : Routledge
Page : 215 pages
File Size : 40,7 Mb
Release : 2022-02-17
Category : Law
ISBN : 9780429657313

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Crypto-Finance, Law and Regulation by Joseph Lee Pdf

Crypto-Finance, Law and Regulation investigates whether crypto-finance will cause a paradigm shift in regulation from a centralised model to a model based on distributed consensus. This book explores the emergence of a decentralised and disintermediated crypto-market and investigates the way in which it can transform the financial markets. It examines three components of the financial market – technology, finance, and the law – and shows how their interrelationship dictates the structure of a crypto-market. It focuses on regulators’ enforcement policies and their jurisdiction over crypto-finance operators and participants. The book also discusses the latest developments in crypto-finance, and the advantages and disadvantages of crypto-currency as an alternative payment product. It also investigates how such a decentralised crypto-finance system can provide access to finance, promote a shared economy, and allow access to justice. By exploring the law, regulation and governance of crypto-finance from a national, regional and global viewpoint, the book provides a fascinating and comprehensive overview of this important topic and will appeal to students, scholars and practitioners interested in regulation, finance and the law.

Corporate Governance and Accountability of Financial Institutions

Author : Jonas Abraham Akuffo
Publisher : Springer Nature
Page : 428 pages
File Size : 51,5 Mb
Release : 2021-01-06
Category : Business & Economics
ISBN : 9783030640460

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Corporate Governance and Accountability of Financial Institutions by Jonas Abraham Akuffo Pdf

The presence of sound corporate governance in a financial institution is important in maintaining the confidence of both the market and the public. The power that corporate governance holds over the success of some of the largest financial institutions in the world is not to be downplayed. This book methodically assesses the quality of corporate governance and mechanisms of accountability disclosures to various stakeholders. It is further intended to provide fresh insights into some specific corporate governance recommendations to help improve good governance in financial institutions, particularly in the United Kingdom and the EU but will also be applicable to other major economies. It explores what, when and how corporate governance has changed the financial institution functions and corporate executive behaviour by critically reviewing the pre- and post-financial crisis theoretical and empirical literature. Increasingly driven by the nature of complications, complexities and opacity in the operations of financial systems, corporate governance reporting plays an important role in the financial sector. It will provide insights into corporate governance disclosures over a long-term basis. This book should be a valuable asset to support the research of practitioners, students and all academics due to its stimulating and reflective insights into this fascinating topic.

Governing Capital

Author : Sylvia Maxfield
Publisher : Cornell University Press
Page : 211 pages
File Size : 42,6 Mb
Release : 2019-05-15
Category : Political Science
ISBN : 9781501746079

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Governing Capital by Sylvia Maxfield Pdf

How does international financial integration affect development in newly industrializing countries? Sylvia Maxfield offers a challenging interpretation of the Mexican political economy in light of this complex question. In an increasingly internationalized world, she argues, capital-controlling economic policies can have benefits that, especially for the newly industrializing Latin American countries addressed here, outweigh the efficiency costs of government intervention.