Download or read book International Financial Governance Under Stress written by Geoffrey R. D. Underhill and published by . This book was released on 2003 with total page 395 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Asian and Argentinian financial crises have focused attention on the most appropriate shape and role for international and national financial institutions. This volume offers a wide-ranging overview of the problems and possible policy responses. Although the approach is multi-disciplinary, most of the contributors write from a political economy perspective.
Download or read book International Financial Governance under Stress written by Geoffrey R. D. Underhill and published by Cambridge University Press. This book was released on 2007-05-07 with total page 412 pages. Available in PDF, EPUB and Kindle. Book excerpt: Intensifying global financial liberalization and integration has been accompanied by increased financial volatility over the past two decades. This has been revealed most dramatically by the Asian financial crisis and the more recent crisis in Argentina. These and lesser-known crises in emerging economies have focused attention on determining the most appropriate role for international and national financial institutions to play. This volume offers a wide-ranging overview of the problems and possible policy responses involved in resolving the issues discussed.
Download or read book International Financial Governance under Stress written by Geoffrey R. D. Underhill and published by Cambridge University Press. This book was released on 2003-04-03 with total page 411 pages. Available in PDF, EPUB and Kindle. Book excerpt: Persistent episodes of global financial crises have placed the existing system of international monetary and financial governance under stress. The resulting economic turmoil provides a focal point for rethinking the norms and institutions of global financial architecture and the policy options of public and private authorities at national, regional and transnational levels. This volume moves beyond analysis of the causes and consequences of recent financial crises and concentrates on issues of policy. Written by distinguished scholars, it focuses on the tension between global market structures and national policy imperatives. Accessible to both specialists and general readers, the analysis is coherent across a broad range of theoretical and empirical cases. Offering a series of reasoned policy responses to financial integration and crises, the volume grapples directly with the institutional and often-neglected normative dimensions of international financial architecture. The volume thus constitutes required reading for scholars and policy-makers.
Download or read book Stress Testing at the IMF written by Mr.Tobias Adrian and published by International Monetary Fund. This book was released on 2020-02-05 with total page 73 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper explains specifics of stress testing at the IMF. After a brief section on the evolution of stress tests at the IMF, the paper presents the key steps of an IMF staff stress test. They are followed by a discussion on how IMF staff uses stress tests results for policy advice. The paper concludes by identifying remaining challenges to make stress tests more useful for the monitoring of financial stability and an overview of IMF staff work program in that direction. Stress tests help assess the resilience of financial systems in IMF member countries and underpin policy advice to preserve or restore financial stability. This assessment and advice are mainly provided through the Financial Sector Assessment Program (FSAP). IMF staff also provide technical assistance in stress testing to many its member countries. An IMF macroprudential stress test is a methodology to assess financial vulnerabilities that can trigger systemic risk and the need of systemwide mitigating measures. The definition of systemic risk as used by the IMF is relevant to understanding the role of its stress tests as tools for financial surveillance and the IMF’s current work program. IMF stress tests primarily apply to depository intermediaries, and, systemically important banks.
Download or read book Democracy Under Stress written by Ursula Van Beek and published by AFRICAN SUN MeDIA. This book was released on 2012-02-01 with total page 216 pages. Available in PDF, EPUB and Kindle. Book excerpt: DEMOCRACY UNDER STRESS focuses on the global financial crisis of 2008-2009 and its implications for democracy. Why and how did the crisis come about? Are there any instructive lessons to be drawn from comparisons with the Great Depression of the 1930s? What are the democratic response mechanisms to cope with serious crises? Do they work? Is China a new trend setter? Do values matter? Are global democratic rules a possibility? These are some of the key questions addressed in the volume.
Download or read book The Financial System Under Stress written by Marc Uzan and published by Routledge. This book was released on 2003-09-02 with total page 240 pages. Available in PDF, EPUB and Kindle. Book excerpt: The collapse of Barings bank and the currency crisis in Mexico are just two instances of stress in an international financial system still largely governed by the institutions established by the Bretton Woods Committee in 1944. Here, the authors put forward an agenda for a new system of international economic institutions to fit the changes in international relations. This agenda includes: * an analysis of the role of the Bretton Woods institutions and their relations with the newly created World Trade Organizations * a discussion of the search for world economic governance * an analysis of the crisis within EMS and the prospects for European Monetary Integration * an examination of the integration of private markets in the new economic architecture.
Download or read book Global Finance in Crisis written by Eric Helleiner and published by Routledge. This book was released on 2010-01-21 with total page 296 pages. Available in PDF, EPUB and Kindle. Book excerpt: From the vantage point of the key powers in global finance including the United States, the European Union, Japan, and China, this highly accessible book brings together leading scholars to examine current changes in international financial regulation. They assess whether the flurry of ambitious initiatives to improve and strengthen international financial regulation signals an important turning point in the regulation of global finance. The text: Examines the kinds of international reforms have been implemented to date and patterns of international regulatory change. Provides an analysis of change across a number of financial sectors, including the regulation of hedge funds, derivatives, credit rating agencies, accounting, and banks. Offers an explanation of contemporary regulatory developments with reference to inter-state power dynamics, domestic politics, transgovernmental networks, and/or transnational non-state forces. Providing the first systematic analysis of the international regulatory response to the current global financial crisis, this ground-breaking volume is vital reading for students and scholars of international political economy, international relations, global governance, finance and economics.
Download or read book System Under Stress Homeland Security and American Politics written by Donald F. Kettl and published by SAGE. This book was released on 2013-03-12 with total page 217 pages. Available in PDF, EPUB and Kindle. Book excerpt: "One of the book's many strengths is the way it brings an analytic focus to recent events. It does so in an engaging way, with the book overall written extremely well. And the emphasis on the role of political institutions is right on target."
Download or read book Handbook of Financial Stress Testing written by J. Doyne Farmer and published by Cambridge University Press. This book was released on 2022-04-14 with total page 730 pages. Available in PDF, EPUB and Kindle. Book excerpt: Stress tests are the most innovative regulatory tool to prevent and fight financial crises. Their use has fundamentally changed the modeling of financial systems, financial risk management in the public and private sector, and the policies designed to prevent and mitigate financial crises. When financial crises hit, stress tests take center stage. Despite their centrality to public policy, the optimal design and use of stress tests remains highly contested. Written by an international team of leading thinkers from academia, the public sector, and the private sector, this handbook comprehensively surveys and evaluates the state of play and charts the innovations that will determine the path ahead. It is a comprehensive and interdisciplinary resource that bridges theory and practice and places financial stress testing in its wider context. This guide is essential reading for researchers, practitioners, and policymakers working on financial risk management and financial regulation.
Download or read book Governing Finance written by Andrew Walter and published by Cornell University Press. This book was released on 2011-03-15 with total page 255 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book The Financial System Under Stress written by Marc Uzan and published by Burns & Oates. This book was released on 1996 with total page 225 pages. Available in PDF, EPUB and Kindle. Book excerpt: Summary: v.1 provides an analysis of the role of those institutions established at Bretton Woods and their relations with the newly created World Trade Organization. Particular attention is given to the Internation Monetary Fund and the World Bank -- v.2 examines the type of global governance necessary for the changing world economy. Finally -- v.3 discusses the growing integration of capital markets and their role in the new economic architecture.
Download or read book Global Financial Stability Report October 2019 written by International Monetary Fund. Monetary and Capital Markets Department and published by International Monetary Fund. This book was released on 2019-10-16 with total page 109 pages. Available in PDF, EPUB and Kindle. Book excerpt: The October 2019 Global Financial Stability Report (GFSR) identifies the current key vulnerabilities in the global financial system as the rise in corporate debt burdens, increasing holdings of riskier and more illiquid assets by institutional investors, and growing reliance on external borrowing by emerging and frontier market economies. The report proposes that policymakers mitigate these risks through stricter supervisory and macroprudential oversight of firms, strengthened oversight and disclosure for institutional investors, and the implementation of prudent sovereign debt management practices and frameworks for emerging and frontier market economies.
Download or read book Global Financial Stability Report April 2021 written by International Monetary Fund and published by International Monetary Fund. This book was released on 2021-04-06 with total page 92 pages. Available in PDF, EPUB and Kindle. Book excerpt: Extraordinary policy measures have eased financial conditions and supported the economy, helping to contain financial stability risks. Chapter 1 warns that there is a pressing need to act to avoid a legacy of vulnerabilities while avoiding a broad tightening of financial conditions. Actions taken during the pandemic may have unintended consequences such as stretched valuations and rising financial vulnerabilities. The recovery is also expected to be asynchronous and divergent between advanced and emerging market economies. Given large external financing needs, several emerging markets face challenges, especially if a persistent rise in US rates brings about a repricing of risk and tighter financial conditions. The corporate sector in many countries is emerging from the pandemic overindebted, with notable differences depending on firm size and sector. Concerns about the credit quality of hard-hit borrowers and profitability are likely to weigh on the risk appetite of banks. Chapter 2 studies leverage in the nonfinancial private sector before and during the COVID-19 crisis, pointing out that policymakers face a trade-off between boosting growth in the short term by facilitating an easing of financial conditions and containing future downside risks. This trade-off may be amplified by the existing high and rapidly building leverage, increasing downside risks to future growth. The appropriate timing for deployment of macroprudential tools should be country-specific, depending on the pace of recovery, vulnerabilities, and policy tools available. Chapter 3 turns to the impact of the COVID-19 crisis on the commercial real estate sector. While there is little evidence of large price misalignments at the onset of the pandemic, signs of overvaluation have now emerged in some economies. Misalignments in commercial real estate prices, especially if they interact with other vulnerabilities, increase downside risks to future growth due to the possibility of sharp price corrections.
Download or read book Corporate Income Taxes under Pressure written by Ruud A. de Mooij and published by International Monetary Fund. This book was released on 2021-02-26 with total page 388 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book describes the difficulties of the current international corporate income tax system. It starts by describing its origins and how changes, such as the development of multinational enterprises and digitalization have created fundamental problems, not foreseen at its inception. These include tax competition—as governments try to attract tax bases through low tax rates or incentives, and profit shifting, as companies avoid tax by reporting profits in jurisdictions with lower tax rates. The book then discusses solutions, including both evolutionary changes to the current system and fundamental reform options. It covers both reform efforts already under way, for example under the Inclusive Framework at the OECD, and potential radical reform ideas developed by academics.
Download or read book Governance of International Banking The Financial Trilemma written by Dirk Schoenmaker and published by Oxford University Press, USA. This book was released on 2013-03-05 with total page 208 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the aftermath of the financial crisis, the business model of international banks is under pressure. Regulators across the world are retrenching to national lines by applying restrictions on cross-border banking. Applying game theory, this book develops a model of the financial trilemma to understand the co-ordination failure among regulators. It also provides governance solutions to overcome this co-ordination failure. The goal is to offer a long-term perspective on international banking for regulators and academics. The book combines academic insights and policy issues.
Download or read book The Changing Politics of Finance in Korea and Thailand written by Xiaoke Zhang and published by . This book was released on 2015-12-09 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book represents the first systematic attempt to explore the financial crisis in an interdisciplinary and comparative perspective and is essential reading for both policy-makers and academics interested in national governance.
Download or read book Transnational Financial Associations and the Governance of Global Finance written by Heather McKeen-Edwards and published by . This book was released on 2013 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The role of business in global governance is now widely recognized, but exploration of its role in global financial governance has been more haphazard than systematic. This book provides the first comprehensive analysis of the role of transnational financial associations (TFAs) in the organization of global finance. This book develops three theoretical themes of assemblage, functionality, and power as enrolment. These themes challenge approaches that treat financial power as emanating from a single location or force. Whilst existing approaches tend to treat TFAs as irrelevant or as merely transmitting power originating elsewhere, this book argues that power must be created by painstakingly assembling actors, networks, and objects that are often quite autonomous and working at cross purposes to one another--a process in which TFAs play a central role. The book explores these themes in chapters examining the roles of TFAs in interacting with public authorities, constructing global financial markets, and creating financial communities. The authors additionally analyse the roles of TFAs in the European Union, in the Global South, and in promoting goals other than profitability, including Islamic finance, microfinancing, savings banks and cooperatives. Making a distinctive contribution to our understanding of global finance and global governance, Transnational Financial Associations and the Governance of Global Finance is an important book for students and scholars of international political economy, finance, global governance and international relations.
