Reforming the Global Financial Architecture - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Reforming the Global Financial Architecture write by Yilmaz Akyuz. This book was released on 2002-04. Reforming the Global Financial Architecture available in PDF, EPUB and Kindle. 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.
Reforming the International Financial System for Development
Reforming the International Financial System for Development - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Reforming the International Financial System for Development write by Jomo Kwame Sundaram. This book was released on 2011-01-17. Reforming the International Financial System for Development available in PDF, EPUB and Kindle. 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.
The Reform of the International Financial Architecture
The Reform of the International Financial Architecture - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook The Reform of the International Financial Architecture write by Rosa Lastra. This book was released on 2001. The Reform of the International Financial Architecture available in PDF, EPUB and Kindle. Papers presented at a conference in London in May 1999.
Out of the Box Thoughts about the International Financial Architecture
Out of the Box Thoughts about the International Financial Architecture - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Out of the Box Thoughts about the International Financial Architecture write by Mr.Barry J. Eichengreen. This book was released on 2009-05-01. Out of the Box Thoughts about the International Financial Architecture available in PDF, EPUB and Kindle. 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.
The Debate on the International Financial Architecture
The Debate on the International Financial Architecture - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook The Debate on the International Financial Architecture write by Yilmaz Akyüz. This book was released on 2000. The Debate on the International Financial Architecture available in PDF, EPUB and Kindle. 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.
