Download or read book Ideas Towards a New International Financial Architecture written by Maria Alejandra Madi and published by . This book was released on 2017-02-01 with total page 236 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the short span of a few essays, this book takes the reader on a trip from the historical roots of the current financial architecture to the imaginable futures one can envision for it, only if there is the political will to change it. If we accept that, as put by the editors, financial markets' marginal imperfections are rather endemic pathologies, the consequences for the financial architecture have Copernican proportions. Every scholar and practitioner interested in the problems posed by the global economy at a critical moment when it has reached what looks like a dead end, will appreciate the refreshing inspiration offered by the authors that a star editing team has put together. Aldo Caliari, Director, Rethinking Bretton Woods Project, Center of Concern. The stagnation that we suffer since 2008 was originated by the global financial crisis of a system that is outside the control of national governments and has a dynamic of its own. In a few chapters, the book offers a historical account and a perspective of what could be a more rational financial system if there were political will to change it. All those interested in this topic will find in the ideas presented by this combination of authors, a deep understanding of the subject and inspiration for future research. Juan Carlos Moreno Brid, UN Economic Commission for Latin America and the Caribbean. He is Professor at the Faculty of Economics, UNAM, Mexico. As the book authors argue, the financial institutional settings were profoundly modified in the 1970s, imposing new instruments, new mechanism, new institutions that revolutionized the world of finance, missing a central characteristic: financial regulations. In this context the book's conclusions are of outmost importance: taxes on financial activity, new ways of financial accounting, sovereign debts regulators as the new central bank supervisions are vital to overcome the present crisis and set the grounds for a new period of economic growth and development. Noemy Levy, Professor at the Faculty of Economics, UNAM, Mexico. Since the last 2008 economic crisis the implementation of a new financial institutionality is taking too much time, showing the current correlation of power. The discussions at multinational level require more action and inputs as those in this book. Congratulations! Katiuska King Mantilla from the Government of Ecuador.
Download or read book Towards a New International Financial Architecture Premises Challenges and Prospects written by Volha Safonava and published by . This book was released on 2005 with total page 58 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book New Global Economic Architecture written by Masahiro Kawai and published by Edward Elgar Publishing. This book was released on 2014-11-28 with total page 275 pages. Available in PDF, EPUB and Kindle. Book excerpt: Policymakers, academics, think tanks and practitioners will benefit from the international perspective of the book, particularly those interested in the influential Asian architecture. This book is also a useful reference tool for students of macroecon
Download or read book Global Shocks and the New Global and Regional Financial Architecture written by Naoyuki Yoshino and published by . This book was released on 2018 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Asian economies continue to be subject to new shocks: US monetary policy tightening, the adoption of negative-interest-rate policies by central banks all over the world, the slowdown of the People's Republic of China, and the sharp drop in oil and other commodity prices. All these highlight the vulnerability of the region to volatile trade and capital flows even as the global and Asian regional financial architecture evolves. This volume analyzes the vulnerabilities of Asian economies to external economic and financial shocks and assesses the performance of Asian regional institutions in financial surveillance and cooperation. It also evaluates ongoing reforms of the global financial architecture, including the International Monetary Fund (IMF), the Financial Stability Board, and reviews the experience of the "Troika" (European Commission, European Central Bank, and the IMF) in managing the European sovereign debt and banking crisis. Based on these, the book develops valuable recommendations to strengthen the Asian regional financial architecture and improve cooperation with global multilateral institutions.
Download or read book Crisis Resolution written by Mr.Ashoka Mody and published by International Monetary Fund. This book was released on 2003-10-01 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book National Finance written by Yunxian Chen and published by Springer Nature. This book was released on 2021-04-23 with total page 330 pages. Available in PDF, EPUB and Kindle. Book excerpt: “National finance” is a new concept launched by the author in his book National Finance ─ A Chinese Perspective, a unique monograph that differs from other financial publications dealing with general topics in public finance. The monograph intends to provide a full, well-developed and macro-level exposition of all major aspects of finance from the perspective of the central government, with focus laid on the most essential, immediate and intricate issues in national financial development, which are the "hard nuts" that have to be cracked on both central and regional levels and on the fronts of both offshore and onshore finance. It attempts to cope with a series of formidable challenges that a country, particularly its top government officials, must take in developing finance: how national finance should develop and overtake in the face of rising financial industries, how it should respond to the influx of AI+blockchain technologies, how a country guards against and copes with systematic or regional financial risks with security, fluidity and profitability serving as its cornerstones, how it can build up and promote the new international financial system and governance amid international financial powers around the world, and so on.
Download or read book The Reform of the International Financial Architecture written by Rosa Lastra and published by Springer. This book was released on 2001 with total page 408 pages. Available in PDF, EPUB and Kindle. Book excerpt: Papers presented at a conference in London in May 1999.
Download or read book Regulating Wall Street written by New York University Stern School of Business and published by John Wiley & Sons. This book was released on 2010-10-28 with total page 592 pages. Available in PDF, EPUB and Kindle. Book excerpt: Experts from NYU Stern School of Business analyze new financial regulations and what they mean for the economy The NYU Stern School of Business is one of the top business schools in the world thanks to the leading academics, researchers, and provocative thinkers who call it home. In Regulating Wall Street: The New Architecture of Global Finance, an impressive group of the Stern school’s top authorities on finance combine their expertise in capital markets, risk management, banking, and derivatives to assess the strengths and weaknesses of new regulations in response to the recent global financial crisis. Summarizes key issues that regulatory reform should address Evaluates the key components of regulatory reform Provides analysis of how the reforms will affect financial firms and markets, as well as the real economy The U.S. Congress is on track to complete the most significant changes in financial regulation since the 1930s. Regulating Wall Street: The New Architecture of Global Finance discusses the impact these news laws will have on the U.S. and global financial architecture.
Download or read book The Group of Seven written by Andrew Baker and published by Routledge. This book was released on 2006-05-09 with total page 383 pages. Available in PDF, EPUB and Kindle. Book excerpt: We are now in the era of the G8, although the G7 still exists as a grouping for Finance Ministers. Why do G7 finance ministries and central banks co-operate? What are the implications of this co-operation for US power and the abilities of the other six states to exercise leadership? What role do the G7 play in global financial governance? How much authority do they possess and how is that authority exercised? This is the first major monograph on the political economy of G7 finance ministry and central bank co-operation. It argues that to understand the contribution of the G7 to global financial governance it is necessary to locate the process in the context of a wider world financial order comprised of decentralized globalization. It also provides original case study material on the G7’s contribution to macroeconomic governance and to debates on the global financial architecture over the last decade. It assesses the G7’s role in producing a system of global financial governance based on market supremacy and technocratic transgovernmental consensus and articulates normative criticisms of the G7’s exclusivity. For researchers in the fields of IR/IPE generally, postgraduate students in the field of international organization and global governance, policy makers and financial journalists this is the most extensive analysis of the G7 and the political economy of global financial governance to date.
Download or read book International Financial Contagion written by Stijn Claessens and published by Springer Science & Business Media. This book was released on 2013-04-17 with total page 461 pages. Available in PDF, EPUB and Kindle. Book excerpt: No sooner had the Asian crisis broken out in 1997 than the witch-hunt started. With great indignation every Asian economy pointed fingers. They were innocent bystanders. The fundamental reason for the crisis was this or that - most prominently contagion - but also the decline in exports of the new commodities (high-tech goods), the steep rise of the dollar, speculators, etc. The prominent question, of course, is whether contagion could really have been the key factor and, if so, what are the channels and mechanisms through which it operated in such a powerful manner. The question is obvious because until 1997, Asia's economies were generally believed to be immensely successful, stable and well managed. This question is of great importance not only in understanding just what happened, but also in shaping policies. In a world of pure contagion, i.e. when innocent bystanders are caught up and trampled by events not of their making and when consequences go far beyond ordinary international shocks, countries will need to look for better protective policies in the future. In such a world, the international financial system will need to change in order to offer better preventive and reactive policy measures to help avoid, or at least contain, financial crises.
Download or read book The Asian Financial Crisis New International Financial Architecture written by Shalendra Sharma and published by Manchester University Press. This book was released on 2003-10-03 with total page 422 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Asian financial crisis of 1997-98 shook the foundations of the global economy. What began as a localized 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 react to the crisis? What role did the IMF play? Why did China remain conspicuously insulated from the turmoil raging in its midst? What lessons can be learnt from the crisis by other emerging economies? This book provides answers to all the above questions and more. It 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. The book will be vital to students of economics, international political economy, Asian and development studies.
Download or read book Sovereign Debt Crises written by Juan Pablo Bohoslavsky and published by Cambridge University Press. This book was released on 2017-11-02 with total page 309 pages. Available in PDF, EPUB and Kindle. Book excerpt: There is an obvious need to learn more about why some countries succeed and others fail when dealing with debt crises. Why do some sovereign debtors overcome economic problems very quickly and at minor human rights costs for their people, while others remain trapped by debts for years struggling with overwhelming debt burdens and exacerbating economic problems and human suffering? This book analyzes fourteen unique or singular country cases of sovereign debt problems that differ characteristically from the 'ordinary' debtor countries, and have not yet received enough or proper attention - some regarded as successful, some as unsuccessful in dealing with debt crises. The aim is to contribute to a better understanding of the policy options available to countries struggling with debt problems, or how to resolve a debt overhang while protecting human rights, the Rule of Law and the debtor's economic recovery.
Download or read book International Monetary and Financial Law written by Mario Giovanoli and published by OUP Oxford. This book was released on 2010-06-03 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This new book is a unique collaboration of the top academic and practitioner monetary and financial lawyers from around the world. It examines current legal issues of international monetary and financial law in the light of the current global financial crisis and consequent reforms of international and domestic financial architecture.
Download or read book The Politics of the New International Financial Architecture written by Susanne Soederberg and published by Zed Books. This book was released on 2004-11 with total page 244 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is a critique of the attempts of the G7 industrialized countries to rewrite the rules of international finance. It includes case studies on capital controls from Chile and Malaysia and is aimed at scholars and students of international political economy and development and reform activists.
Download or read book The Economic North South Divide written by Kunibert Raffer and published by Edward Elgar Publishing. This book was released on 2002-01-01 with total page 303 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is a distinguished book written by two distinguished analysts of, and commentators on, the outcomes and processes that have dominated the evolution of the global economic order over the last sixty years. S. Subramanian, Journal of Social and Economic Development What Raffer and Singer chose to do, they have done very well indeed. Saud Choudhry, Development Policy Review Since the 1940s, development thinking has been the subject of fierce debate and continual evolution. The authors of this book trace the ideas that have driven changing approaches to development, focusing also on the Prebisch Singer Thesis, which seeks to explain the widening gaps between rich and poor nations, caused by unequal distribution of trade benefits. They discuss both aid during and after the cold war, and the rise and subsequent liberalisation crisis of the Asian Tiger Economies . The Economic North South Divide goes on to explore the structural roots of the debt crisis and considers the impact of debt management on North South economic relations, exposing certain double standards that tilt global markets further against the South. Encouraged by recent successful opposition to neoliberalism, the authors finally propose ideas for a world where people seem to matter. This book is a welcome addition to the debate and will appeal to anyone interested in economic development and history.
Download or read book Strengthening the International Financial Architecture written by and published by . This book was released on 1999 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book IMF Staff Papers Volume 50 Special Issue IMF Third Annual Research Conference written by Mr.Robert P. Flood and published by International Monetary Fund. This book was released on 2003-08-25 with total page 202 pages. Available in PDF, EPUB and Kindle. Book excerpt: The paper discusses a model in which growth is a negative function of fiscal burden. Moreover, growth discontinuously switches from high to low as the fiscal burden reaches a critical level. The paper provides an overview of key elements of corporate bankruptcy codes and practice around the world that are relevant to the debate on sovereign debt restructuring. It also describes the broad trends in international financial integration for a sample of industrial countries and explains the cross-country and time-series variation in the size of international balance sheets.
