Reforming Financial Systems

Author : Jomo Kwame Sundaram
Publisher : Columbia University Press
Page : 561 pages
File Size : 47,5 Mb
Release : 2011-01-17
Category : Business & Economics
ISBN : 9780231527279

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Reforming the International Financial System for Development by Jomo Kwame Sundaram Pdf

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 : Gerard Caprio (Jr.),Dimitri Vittas
Publisher : Unknown
Page : 222 pages
File Size : 43,6 Mb
Release : 1997
Category : Banks and banking
ISBN : OCLC:848712355

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Reforming Financial Systems by Gerard Caprio (Jr.),Dimitri Vittas Pdf

Author : Gerard Caprio,Izak Atiyas,James A. Hanson
Publisher : Cambridge University Press
Page : 502 pages
File Size : 55,9 Mb
Release : 1996-08-28
Category : Business & Economics
ISBN : 0521574242

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Financial Reform by Gerard Caprio,Izak Atiyas,James A. Hanson Pdf

This study is the first to look at the analytics of and experience with financial reform, in examples drawn mostly from the developing world.

Author : Asl? Demirgüç-Kunt,Ross Levine
Publisher : World Bank Publications
Page : 70 pages
File Size : 42,5 Mb
Release : 1994
Category : Empresas publicas
ISBN : 8210379456XXX

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The Financial System and Public Enterprise Reform by Asl? Demirgüç-Kunt,Ross Levine Pdf

Public enterprise reform is more successful in countries whose financial systems are relatively well developed. Countries seeking to implement broad public enterprise reforms achieve greater success if they also implement substantial and well- designed financial reforms.

Author : International Monetary Fund
Publisher : International Monetary Fund
Page : 412 pages
File Size : 40,9 Mb
Release : 1991-03-15
Category : Business & Economics
ISBN : 1557757798

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Sequencing Financial Sector Reforms by International Monetary Fund Pdf

Financial sector liberalization can spur economic growth and development, but reforms to liberalize the financial sector can also entail risks if they are not properly designed and implemented. One of the central questions for countries reforming their financial systems is how to sequence the reforms so as to maximize the benefits of liberalization and contain its risks. Edited by R. Barry Johnston and V. Sundararajan of the IMF's Monetary and Exchange Affairs Department, this book attempts to answer this and related questions by drawing lessons from financial sector reforms in selected countries. In particular, the book surveys financial sector reforms in Indonesia, Thailand, and Korea between the mid-1980s and mid-1990s.

Author : Aditya Narain,José Vinãls,Jonathan Fiechter,Laura E. Kodres,Marina Moretti,Ceyla Pazarbasioglu
Publisher : INTERNATIONAL MONETARY FUND
Page : 30 pages
File Size : 48,8 Mb
Release : 2010-10-01
Category : Electronic
ISBN : 1455267368

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Shaping the New Financial System by Aditya Narain,José Vinãls,Jonathan Fiechter,Laura E. Kodres,Marina Moretti,Ceyla Pazarbasioglu Pdf

Three years after the onset of the global financial crisis, much has been done to reform the global financial system, but there is much left to accomplish. The regulatory reform agenda agreed by G-20 leaders in 2009 has elevated the discussions to the highest policy level and kept international attention focused on establishing a globally consistent set of rules. Comprehensive reform, once agreed and implemented in full, will have far-reaching implications for the global financial system and the performance of the world economy. In designing the reforms, it is imperative that policymakers keep their focus on the overarching objective of creating a financial system that provides a solid foundation for strong and sustainable economic growth. This paper argues that the current reforms are moving in the right direction, but many policy choices lie ahead—nationally and internationally?which are both urgent and challenging. Policies need to address not only the risks posed by individual banks but also, importantly, those posed by nonbanks and the system as a whole. The recent proposals of the Basel Committee on Banking Supervision (BCBS) represent a substantial improvement in the quality and quantity of bank capital, but these apply only to a subset of the financial system.

Author : United States. Congress. House. Committee on Banking, Finance, and Urban Affairs. Subcommittee on Financial Institutions Supervision, Regulation and Insurance
Publisher : Unknown
Page : 688 pages
File Size : 49,7 Mb
Release : 1987
Category : Banks and banking
ISBN : LOC:00022585629

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Reform of the Nation's Banking and Financial Systems by United States. Congress. House. Committee on Banking, Finance, and Urban Affairs. Subcommittee on Financial Institutions Supervision, Regulation and Insurance Pdf

Author : Yilmaz Akyuz
Publisher : Zed Books
Page : 176 pages
File Size : 45,6 Mb
Release : 2002-04
Category : Business & Economics
ISBN : 1842771558

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Reforming the Global Financial Architecture by Yilmaz Akyuz Pdf

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 : Neal S. Zank
Publisher : Praeger
Page : 184 pages
File Size : 47,8 Mb
Release : 1991-11-18
Category : Business & Economics
ISBN : UCSD:31822007675069

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Reforming Financial Systems by Neal S. Zank Pdf

One of the key constraints to accelerated economic performance in developing countries is, in the authors' view, the absence of strong, dynamic financial systems. Many, if not most, developing countries suffer from repressed financial systems. Thus the most important step in effecting the development of capital markets is to lay a foundation of sound macroeconomic and regulatory policies conducive to financial sector development. This book presents an approach to financial sector reform composed of financial sector diagnosis, policy and institutional targeting, macroeconomic reforms, bank regulation and supervisory reform, and privatization. The work also presents criteria to help decision-makers apply the approach. The issues and approaches presented are as relevant to the emerging democracies of Eastern Europe and such transitional countries as Brazil and Mexico as they are to developing countries. The authors begin with an introductory discussion of the two-pronged strategy of financial reform and privatization and then, in chapter 2, provide an overview of developing financial systems. Chapter 3 discusses the public/private debate. Chapter 4 is devoted to financial sector liberalization, and chapter 5 goes on to discuss the privatization of financial institutions. A framework for financial reform and privatization is presented in chapter 6, and chapter 7 provides concluding comments. In addition, a series of case studies are presented in the appendix. These case studies demonstrate the methods and strategies used to address financial sector reform in Bangladesh, Chile, Guinea, Jamaica, Mexico, and the Philippines. This book will be useful to financial and development experts and to policy makers in countries amenable to changing their financial systems. It would also be appropriate for courses in international economics, international banking, international monetary issues, international finance, and economic development.

Author : United States. Congress. House. Committee on Banking, Finance, and Urban Affairs. Subcommittee on Financial Institutions Supervision, Regulation and Insurance
Publisher : Unknown
Page : 1436 pages
File Size : 54,7 Mb
Release : 1988
Category : Banks and banking
ISBN : MINN:31951P004754848

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Reform of the Nation's Banking and Financial Systems by United States. Congress. House. Committee on Banking, Finance, and Urban Affairs. Subcommittee on Financial Institutions Supervision, Regulation and Insurance Pdf

Author : International Monetary Fund
Publisher : International Monetary Fund
Page : 104 pages
File Size : 53,9 Mb
Release : 1992-10-01
Category : Business & Economics
ISBN : 9781451954661

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Issues in Managing and Sequencing Financial Sector Reforms Lessons From Experiences in Five Developing Countries by International Monetary Fund Pdf

A review of the experience of five developing countries in reforming their financial systems illustrates the benefits and risks, and provides lessons on the factors which contribute to successful financial sector reforms. Financial sector reforms need to be supported by active monetary policy, and the adoption of new monetary control procedures early in the reform program; reforms should be sequenced consistently with the broader program of macroeconomic adjustment. The pace of liberalization of interest rates and credit should also take account of the solvency of financial and nonfinancial firms. A minimal system of prudential regulation is an essential element of successful financial sector reform.

Author : Joseph Stiglitz
Publisher : The New Press
Page : 240 pages
File Size : 47,8 Mb
Release : 2010-04-06
Category : Business & Economics
ISBN : 9781595585912

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The Stiglitz Report by Joseph Stiglitz Pdf

The fact that our global economy is broken may be widely accepted, but what precisely needs to be fixed has become the subject of enormous controversy. In 2008, the president of the United Nations General Assembly convened an international panel, chaired by Nobel Prize–winning economist Joseph Stiglitz and including twenty leading international experts on the international monetary system, to address this crucial issue. The Stiglitz Report, released by the committee in late 2009, sees the recent financial crisis as the latest and most damaging of several concurrent crises—of food, water, energy, and sustainability—that are tightly interrelated. The analysis and recommendations in the report cover the gamut from short-term mitigation to deep structural changes, from crisis response to reform of the global, economic, and financial architecture. The report establishes a bold agenda for policy change, that is sure to be the gold standard for understanding and contending with the international economy for many years to come. The Stiglitz Report is essential reading for anyone concerned about a secure and prosperous world.

Author : Gerard Caprio,Ross Levine
Publisher : World Bank Publications
Page : 44 pages
File Size : 49,8 Mb
Release : 1992
Category : Bank loans
ISBN : 8210379456XXX

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Reforming Finance in Transitional Socialist Economies by Gerard Caprio,Ross Levine Pdf

Author : David Mayes,Geoffrey Wood
Publisher : Routledge
Page : 321 pages
File Size : 53,7 Mb
Release : 2012-12-12
Category : Business & Economics
ISBN : 9781136192340

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Reforming the Governance of the Financial Sector by David Mayes,Geoffrey Wood Pdf

Many financial institutions have in recent years failed – failed either completely, and gone into bankruptcy, or failed in the sense that they have not achieved what their owners or their customers expected them to deliver. This has had significant and adverse effects on customers, taxpayers, shareholders, and sometimes management. There has been much discussion of what should be done about this, and some action has been taken. But has it been the right kind of action? Crises of the sort being experienced are low probability but high impact events. This volume, from an international group of scholars, deals with two main issues: firstly, how can the governance of the financial sector by the authorities be improved and secondly, how can the governance of firms and institutions within the sector be improved to render the probability and cost of future crises lower? Poor governance has been one of the major contributors to the global financial crisis. With better governance of and in the financial sector the financial crisis might well have been avoided altogether and certainly could have been much milder in its impact. This is not simply a case of being wise after the event. These problems were widely discussed before the event, but little action was taken. This book explores not only what the contribution of poor governance was to the crisis and to its depth, but also why it is often difficult to improve governance. The volume offers a positive critique of the measures that are being put in place in the light of the experience of the crisis and suggests how they might plausibly be improved. This book will be of particular interest to students and researchers of economics and international finance, but will also prove profitable reading for practitioners and the interested public.

Author : Mr.Alexander K. Swoboda,Mr.Peter B. Kenen
Publisher : International Monetary Fund
Page : 450 pages
File Size : 55,8 Mb
Release : 2000-12-18
Category : Business & Economics
ISBN : 1557758352

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Reforming the International Monetary and Financial System by Mr.Alexander K. Swoboda,Mr.Peter B. Kenen Pdf

This volume examines the implications of greater financial integration on the international monetary and financial system, and how it should be reformed. Various experts consider the most disruptive manifestations of instability and the appropriate policy responses, including exchange rate volatility and misalignments; unstable capital flows to emerging market economies; abrupt capital flow reversals; and private sector involvement in crisis resolution. The IMF’s role in crisis prevention and resolution is also examined.