Out of the Box Thoughts about the International Financial Architecture
Title | Out of the Box Thoughts about the International Financial Architecture PDF eBook |
Author | Mr.Barry J. Eichengreen |
Publisher | INTERNATIONAL MONETARY FUND |
Pages | 26 |
Release | 2009-05-01 |
Genre | Business & Economics |
ISBN | 9781451872637 |
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.
IMF Working Papers
Title | IMF Working Papers PDF eBook |
Author | Barry J. Eichengreen |
Publisher | |
Pages | |
Release | 2009 |
Genre | Electronic books |
ISBN |
The International Financial Architecture
Title | The International Financial Architecture PDF eBook |
Author | Peter B. Kenen |
Publisher | Peterson Institute |
Pages | 212 |
Release | 2001 |
Genre | Business & Economics |
ISBN | 9780881322972 |
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.
Reforming the Global Financial Architecture
Title | Reforming the Global Financial Architecture PDF eBook |
Author | Yilmaz Akyuz |
Publisher | Zed Books |
Pages | 176 |
Release | 2002-04 |
Genre | Business & Economics |
ISBN | 9781842771556 |
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.
The Reform of the International Financial Architecture
Title | The Reform of the International Financial Architecture PDF eBook |
Author | Rosa Lastra |
Publisher | Springer |
Pages | 408 |
Release | 2001 |
Genre | Business & Economics |
ISBN |
Papers presented at a conference in London in May 1999.
Toward a New International Financial Architecture
Title | Toward a New International Financial Architecture PDF eBook |
Author | Barry J. Eichengreen |
Publisher | Peterson Institute for International Economics |
Pages | 224 |
Release | 1999 |
Genre | Business & Economics |
ISBN |
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).
New International Financial Architecture
Title | New International Financial Architecture PDF eBook |
Author | Nouriel Roubini |
Publisher | Edward Elgar Publishing |
Pages | 658 |
Release | 2005 |
Genre | Business & Economics |
ISBN |
This unique collection of seminal articles reflects on the evolution of international finance in the 1990s, exploring the recurrence of financial crises and the resultant policy responses. The editors have brought together groundbreaking academic research addressing the policy decisions made by the key players. In this way, New International Financial Architecture sheds new light on the important debate of the 1990s which started with the Mexican crisis. This authoritative two volume set will provide a great resource for academics, policymakers and private sector participants.