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Author : Rosa Lastra
Publisher : Springer
Page : 408 pages
File Size : 54,7 Mb
Release : 2001
Category : Business & Economics
ISBN : STANFORD:36105060772790
Papers presented at a conference in London in May 1999.
Author : Mr.Barry J. Eichengreen
Publisher : INTERNATIONAL MONETARY FUND
Page : 26 pages
File Size : 41,7 Mb
Release : 2009-05-01
Category : Business & Economics
ISBN : 1451872631
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 : Unknown
Page : 28 pages
File Size : 54,6 Mb
Release : 2000
Category : Capital movements
ISBN : IND:30000138547173
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 : Yilmaz Akyuz
Publisher : Zed Books
Page : 176 pages
File Size : 50,7 Mb
Release : 2002-04
Category : Business & Economics
ISBN : 1842771558
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 : Anthony Elson
Publisher : Springer
Page : 278 pages
File Size : 51,5 Mb
Release : 2011-03-28
Category : Business & Economics
ISBN : 9780230118010
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 : David Vines,Christopher L. Gilbert
Publisher : Unknown
Page : 448 pages
File Size : 54,6 Mb
Release : 2004
Category : Financial crises
ISBN : OCLC:848733174
Author : Barry J. Eichengreen
Publisher : Peterson Institute for International Economics
Page : 224 pages
File Size : 50,7 Mb
Release : 1999
Category : Financial crises
ISBN : UCSD:31822026126599
Recoge: 1. Introduction-2. Summary of recommendations-3. Standars for crisis prevention-4. Banks and capital flows-5. Bailing in the private sector-6. What won't work-7. What the IMF should do (and what we should do about the IMF).
Author : Anthony Elson
Publisher : Springer
Page : 477 pages
File Size : 48,9 Mb
Release : 2011-03-28
Category : Business & Economics
ISBN : 9780230118010
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
Page : 212 pages
File Size : 41,9 Mb
Release : 2001
Category : Business & Economics
ISBN : 0881322970
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 : Montek S. Ahluwalia
Publisher : Unknown
Page : 69 pages
File Size : 49,5 Mb
Release : 2000
Category : International finance
ISBN : 1848597207
A report prepared for the 1999 Commonwealth Finance Ministers Meeting, discussing the reform of international financial architecture. It argues that contemporary crises are very different from traditional balance of payments problems, and that developing countries are especially vulnerable. Six areas of discussion have been identified, some well known, others involving new initiatives. The report also identifies issues in the area of crisis resolution. It looks at the role of the Fund; incentives for the private sector; measures to deal with imprudent creditors and the design of adjustment programmes. It concludes by proposing a new governance structure.
Author : Stuart P. M. Mackintosh
Publisher : Routledge
Page : 213 pages
File Size : 48,5 Mb
Release : 2015-10-16
Category : Political Science
ISBN : 9781317531753
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 : Christian Kuhne
Publisher : GRIN Verlag
Page : 20 pages
File Size : 49,8 Mb
Release : 2012-07-06
Category : Business & Economics
ISBN : 9783656231202
Seminar paper from the year 2009 in the subject Economics - Macro-economics, general, grade: 1,7, University of Applied Sciences Berlin, language: English, abstract: This assignment reviews the different initiatives of the G-20 for a new international financial architecture and their implementation by different countries. It provides also some aspects of criticism to the different reforms, actions and initiatives as not all of them appear appropriate to address the root causes of the financial crisis in the best way.
Author : Mr.Ashoka Mody,Mr.Barry J. Eichengreen,Kenneth Kletzer
Publisher : International Monetary Fund
Page : 60 pages
File Size : 53,8 Mb
Release : 2003-10-01
Category : Business & Economics
ISBN : 9781451859980
At the April 2003 meeting of the International Monetary and Financial Committees, it was decided to further encourage the contractual approach to smoothing the process of sovereign debt restructuring by encouraging the more widespread use of collective action clauses (CACs) in international bonds. This decision was shaped partly by Mexico's successful launch of a bond subject to New York law but featuring CACs, and by subsequent issues with similar provisions from other emerging market countries. This paper reviews the developments leading up to that event, its implications, and prospects for the future. It asks whether we can expect to see additional issuance by emerging markets of bonds featuring CACs, whether such a trend would in fact help to make the world a safer financial place, and what additional steps might be taken to further enhance modalities for crisis resolution.
Author : Geoffrey R. D. Underhill,Jasper Blom,Daniel Mügge
Publisher : Cambridge University Press
Page : 128 pages
File Size : 46,8 Mb
Release : 2010-09-02
Category : Political Science
ISBN : 9781139490474
Early in the new millennium it appeared that a long period of financial crisis had come to an end, but the world now faces renewed and greater turmoil. This 2010 volume analyses the past three decades of global financial integration and governance and the recent collapse into crisis, offering a coherent and policy-relevant overview. State-of-the-art research from an interdisciplinary group of scholars illuminates the economic, political and social issues at the heart of devising an effective and legitimate financial system for the future. The chapters offer debate around a series of core themes which probe the ties between public and private actors and their consequences for outcomes for both developed markets and developing countries alike. The contributors argue that developing effective, legitimate financial governance requires enhancing public versus private authority through broader stakeholder representation, ensuring more acceptable policy outcomes.
Author : Rainer Grote,Thilo Marauhn
Publisher : Cambridge University Press
Page : 358 pages
File Size : 41,7 Mb
Release : 2006-02-16
Category : Law
ISBN : 9781139450348
International financial relations have become increasingly important for the development of global and national economies. At present these relations are primarily governed by market forces, with little regulatory interference at the international level. In the light of numerous financial crises, this abstinence must be seriously questioned. Starting with an analysis of the regulatory problems at the international level, with only minimal powers entrusted to international organisations, this book develops various possibilities for reform. On the basis of an historical analysis, the book first adopts a comparative approach to national attempts to regulate international financial markets, then outlines the potential of relevant institutions and finally develops a policy perspective. It seeks to provide a framework for analysing options for the regulation of international financial markets from a public international law and comparative law perspective.
