Reforming the International Financial System for Development

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Publisher : Columbia University Press
ISBN 13 : 0231527276
Total Pages : 561 pages
Book Rating : 4.2/5 (315 download)

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Book Synopsis Reforming the International Financial System for Development by : Jomo Kwame Sundaram

Download or read book Reforming the International Financial System for Development written by Jomo Kwame Sundaram and published by Columbia University Press. This book was released on 2011-01-17 with total page 561 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

World Development Report, 1985

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Publisher : World Bank Publications
ISBN 13 : 0195204824
Total Pages : 259 pages
Book Rating : 4.1/5 (952 download)

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Book Synopsis World Development Report, 1985 by :

Download or read book World Development Report, 1985 written by and published by World Bank Publications. This book was released on 1985 with total page 259 pages. Available in PDF, EPUB and Kindle. Book excerpt: This report focuses on the contribution that international capital makes to economic development. While the report pays close attention to the events of the recent past, it also places the use of foreign capital in a broader and longer-term perspective. Using such a perspective, the report shows how countries at different stages of development have used external finance productively; how the institutional and policy environment affects the volume and composition of financial flows to developing countries; and how the international community has dealt with financial crises. This report concludes that the developing countries will have a continuing need for external finance. It demonstrates that many of the policies required to attract external finance and promote economic growth are either being implemented or planned already.

Developing Countries and the Global Financial System

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Author :
Publisher : Commonwealth Secretariat
ISBN 13 : 9780850926750
Total Pages : 204 pages
Book Rating : 4.9/5 (267 download)

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Book Synopsis Developing Countries and the Global Financial System by : Stephany Griffith-Jones

Download or read book Developing Countries and the Global Financial System written by Stephany Griffith-Jones and published by Commonwealth Secretariat. This book was released on 2001 with total page 204 pages. Available in PDF, EPUB and Kindle. Book excerpt: How will proposed reforms of the global financial system affect developing countries? Do the IMF and World Bank need to find a new role? Can international standards and regulatory bodies operate in such a way that they help rather than hinder development? This book looks at how these and other issues of global governance impact on the developing world.

Open Doors

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Publisher : Rowman & Littlefield
ISBN 13 : 9780815798132
Total Pages : 452 pages
Book Rating : 4.7/5 (981 download)

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Book Synopsis Open Doors by : Robert E. Litan

Download or read book Open Doors written by Robert E. Litan and published by Rowman & Littlefield. This book was released on 2004-05-13 with total page 452 pages. Available in PDF, EPUB and Kindle. Book excerpt: A Brookings Institution Press, the World Bank, and the International Monetary Fund publication The extensive reforms and liberalization of financial services in emerging markets worldwide call for cutting-edge strategies to capture the benefits of new investment opportunities. In Open Doors, a volume of papers from the third annual Financial Markets and Development conference, multidisciplinary financial sector experts analyze current economic and political trends and prescribe practical advice to the financial development community. The book addresses the key issues of concern regarding the emerging markets, including the trends, motivations, and scope of FDI in finance; policy options that will best capture the opportunities of foreign entry; and the role of foreign institutions in e-finance innovation. The authors focus on specific topics such as foreign participation in emerging market banking systems and securities industries, WTO policies and enforcement, the role of foreign banks, liberalization of insurance markets, the need for capital markets, and the policy, regulatory, and legal issues associated with e-finance. For policymakers and financial practitioners affected by the WTO's Financial Services Agreement, this timely book should be of particular interest. Contributors include Donald Mathieson (International Money Fund), Pierre Sauvé (Trade Directorate, OECD), George J. Vojta (formerly with Bankers Trust and Citibank), Harold D. Skipper (J. Mack Robinson College of Business, Georgia State University), Benn Steil (Council on Foreign Relations), Morris Goldstein and Edward M. Graham (Institute for International Economics), Nicolas Lardy (Brookings Institution), Phillip Turner (Bank of International Settlements), and Robert Ledig (Fried, Frank, Shriver & Jacobson).

Developing Country Debt and the World Economy

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Author :
Publisher : University of Chicago Press
ISBN 13 : 0226733238
Total Pages : 350 pages
Book Rating : 4.2/5 (267 download)

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Book Synopsis Developing Country Debt and the World Economy by : Jeffrey D. Sachs

Download or read book Developing Country Debt and the World Economy written by Jeffrey D. Sachs and published by University of Chicago Press. This book was released on 2007-12-01 with total page 350 pages. Available in PDF, EPUB and Kindle. Book excerpt: For dozens of developing countries, the financial upheavals of the 1980s have set back economic development by a decade or more. Poverty in those countries have intensified as they struggle under the burden of an enormous external debt. In 1988, more than six years after the onset of the crisis, almost all the debtor countries were still unable to borrow in the international capital markets on normal terms. Moreover, the world financial system has been disrupted by the prospect of widespread defaults on those debts. Because of the urgency of the present crisis, and because similar crises have recurred intermittently for at least 175 years, it is important to understand the fundamental features of the international macroeconomy and global financial markets that have contributed to this repeated instability. Developing Country Debt and the World Economy contains nontechnical versions of papers prepared under the auspices of the project on developing country debt, sponsored by the National Bureau of Economic Research. The project focuses on the middle-income developing countries, particularly those in Latin America and East Asia, although many lessons of the study should apply as well to other, poorer debtor countries. The contributors analyze the crisis from two perspectives, that of the international financial system as a whole and that of individual debtor countries. Studies of eight countries—Argentina, Bolivia, Brazil, Indonesia, Mexico, the Philippines, South Korea, and Turkey—explore the question of why some countries succumbed to serious financial crises while other did not. Each study was prepared by a team of two authors—a U.S.-based research and an economist from the country under study. An additional eight papers approach the problem of developing country debt from a global or "systemic" perspective. The topics they cover include the history of international sovereign lending and previous debt crises, the political factors that contribute to poor economic policies in many debtor nations, the role of commercial banks and the International Monetary Fund during the current crisis, the links between debt in developing countries and economic policies in the industrialized nations, and possible new approaches to the global management of the crisis.

The International Monetary and Financial System

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Author :
Publisher : Springer
ISBN 13 : 1349244147
Total Pages : 504 pages
Book Rating : 4.3/5 (492 download)

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Book Synopsis The International Monetary and Financial System by : Gerry Helleiner

Download or read book The International Monetary and Financial System written by Gerry Helleiner and published by Springer. This book was released on 1996-02-12 with total page 504 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book contains papers addressing the major problems and possible reforms in the international monetary and financial system from the perspective of developing countries. Among the issues addressed are global macroeconomic management, international liquidity, volatile private capital flows, structural adjustment, governance in the IMF and World Bank, the role of the regional development banks, and the potential for developing country cooperation.

Emerging Economies and the Global Financial System

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Author :
Publisher : Routledge
ISBN 13 : 0429658354
Total Pages : 290 pages
Book Rating : 4.4/5 (296 download)

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Book Synopsis Emerging Economies and the Global Financial System by : Bruno Bonizzi

Download or read book Emerging Economies and the Global Financial System written by Bruno Bonizzi and published by Routledge. This book was released on 2021-05-05 with total page 290 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides a comprehensive overview of the financial integration of emerging economies through an in-depth analysis of the international monetary system, how it impacts capital flows and exchange rates, and its implications for policy making. The financial integration of emerging economies has been a remarkable development of the past two decades. The growth of cross-border transactions and asset ownership, not least through the accumulation of foreign exchange reserves, has put many of these countries in a more prominent, if still peripheral, position within the global financial system. This has not been a smooth process, as integration has been marked by cyclical waves of capital flows, with financial and currency instability often accompanying the acute phases of these cycles. While conventional economic theory traditionally sees financial integration as a positive development, Post-Keynesian economists, working in the tradition of Keynes, Minsky and Kalecki, have long taken a more sceptical viewpoint. By centring the analysis of financial dynamics on concepts as liquidity, uncertainty, balance-sheet structures and institutions, Post-Keynesian theory highlights the intrinsic character of shocks imposed by financial integration upon emerging economies, and their implications for economic growth and distribution. This book demonstrates that these analyses can be fruitfully used to gain a better understanding of financial (in)stability and economic development in emerging economies as they integrate into the global financial system. This work provides key reading for students and scholars of economics, political economy and finance that are interested in the financial integration of emerging economies, and how the heterodox tradition of Post-Keynesian economics contributes to its analysis.

The Global Findex Database 2017

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Publisher : World Bank Publications
ISBN 13 : 1464812683
Total Pages : 148 pages
Book Rating : 4.4/5 (648 download)

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Book Synopsis The Global Findex Database 2017 by : Asli Demirguc-Kunt

Download or read book The Global Findex Database 2017 written by Asli Demirguc-Kunt and published by World Bank Publications. This book was released on 2018-04-19 with total page 148 pages. Available in PDF, EPUB and Kindle. Book excerpt: In 2011 the World Bank—with funding from the Bill and Melinda Gates Foundation—launched the Global Findex database, the world's most comprehensive data set on how adults save, borrow, make payments, and manage risk. Drawing on survey data collected in collaboration with Gallup, Inc., the Global Findex database covers more than 140 economies around the world. The initial survey round was followed by a second one in 2014 and by a third in 2017. Compiled using nationally representative surveys of more than 150,000 adults age 15 and above in over 140 economies, The Global Findex Database 2017: Measuring Financial Inclusion and the Fintech Revolution includes updated indicators on access to and use of formal and informal financial services. It has additional data on the use of financial technology (or fintech), including the use of mobile phones and the Internet to conduct financial transactions. The data reveal opportunities to expand access to financial services among people who do not have an account—the unbanked—as well as to promote greater use of digital financial services among those who do have an account. The Global Findex database has become a mainstay of global efforts to promote financial inclusion. In addition to being widely cited by scholars and development practitioners, Global Findex data are used to track progress toward the World Bank goal of Universal Financial Access by 2020 and the United Nations Sustainable Development Goals. The database, the full text of the report, and the underlying country-level data for all figures—along with the questionnaire, the survey methodology, and other relevant materials—are available at www.worldbank.org/globalfindex.

Developing Country Debt and Economic Performance, Volume 1

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Author :
Publisher : University of Chicago Press
ISBN 13 : 0226733181
Total Pages : 414 pages
Book Rating : 4.2/5 (267 download)

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Book Synopsis Developing Country Debt and Economic Performance, Volume 1 by : Jeffrey D. Sachs

Download or read book Developing Country Debt and Economic Performance, Volume 1 written by Jeffrey D. Sachs and published by University of Chicago Press. This book was released on 2007-12-01 with total page 414 pages. Available in PDF, EPUB and Kindle. Book excerpt: For dozens of developing countries, the financial upheavals of the 1980s have set back economic development by a decade or more. Poverty in those countries has intensified as they struggle under the burden of an enormous external debt. In 1988, more than six years after the onset of the crisis, almost all the debtor countries were still unable to borrow in the international capital markets on normal terms. Moreover, the world financial system has been disrupted by the prospect of widespread defaults on those debts. Because of the urgency of the present crisis, and because similar crises have recurred intermittently for at least 175 years, it is important to understand the fundamental features of the international macroeconomy and global financial markets that have contributed to this repeated instability. This project on developing country debt, undertaken by the National Bureau of Economic Research, provides a detailed analysis of the ongoing developing country debt crisis. The project focuses on the middle-income developing countries, particularly those in Latin America and East Asia, although many lessons of the study should apply as well to other, poorer debtor countries. The project analyzes the crisis from two perspectives, that of the international financial system as a whole (volume 1) and that of individual debtor countries (volumes 2 and 3).

G-24

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Author :
Publisher : Lynne Rienner Publishers
ISBN 13 : 9781555878467
Total Pages : 370 pages
Book Rating : 4.8/5 (784 download)

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Book Synopsis G-24 by : Eduardo Mayobre

Download or read book G-24 written by Eduardo Mayobre and published by Lynne Rienner Publishers. This book was released on 1999 with total page 370 pages. Available in PDF, EPUB and Kindle. Book excerpt: "The authors, distinguished scholars from developing countries, all have had direct practical experience in international affairs and policy-making. They provide rare insight regarding the continuing efforts of the developing countries to express, coordinate, and advance their positions and interests."--BOOK JACKET.

The Financial and Economic Crisis of 2008-2009 and Developing Countries

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Author :
Publisher : UN
ISBN 13 :
Total Pages : 350 pages
Book Rating : 4.:/5 (1 download)

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Book Synopsis The Financial and Economic Crisis of 2008-2009 and Developing Countries by : United Nations Conference on Trade and Development

Download or read book The Financial and Economic Crisis of 2008-2009 and Developing Countries written by United Nations Conference on Trade and Development and published by UN. This book was released on 2010 with total page 350 pages. Available in PDF, EPUB and Kindle. Book excerpt: As a response to the global financial and economic crisis that began in 2008, many developing and emerging-market economies undertook resolute countercyclical monetary and fiscal actions, which paralleled those of the developed countries. These policy responses contributed significantly to the recovery of the world economy in 2010 and 2011. In particular, the strong and fast responses of Brazil, China and India helped mitigate deflationary risks and avoid a repetition of the Great Depression of the early 1930s. On the other hand, reforms of financial regulation and supervision are taking time to advance, and little progress has been achieved so far in implementing measures to reduce global imbalances and to avoid a malfunctioning of the international exchange-rate system. These would contribute to greater coherence between the international trading and financial systems, and to creating a more stable international economic environment for development. This is a collection of papers that contribute to the debate on these topics, putting the South at centre stage. It examines how the countries of the South were affected by the global economic and financial crisis, and how they responded to it.

The Future of the Global Financial System: Downfall or Harmony

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Author :
Publisher : Springer
ISBN 13 : 3030001024
Total Pages : 1287 pages
Book Rating : 4.0/5 (3 download)

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Book Synopsis The Future of the Global Financial System: Downfall or Harmony by : Elena G. Popkova

Download or read book The Future of the Global Financial System: Downfall or Harmony written by Elena G. Popkova and published by Springer. This book was released on 2018-11-03 with total page 1287 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book gathers the best papers presented at the conference “The Future of the Global Financial System: Downfall or Harmony”, which took place in Limassol, Cyprus on April 13-14, 2018. Organized by the Institute of Scientific Communications (Volgograd, Russia), the conference chiefly focused on reassessing the role and meaning of the global financial system in the modern global economy in light of the crisis that began in 2008 and can still be observed in many countries, and on developing conceptual and applied recommendations on spurring the development of the global financial system. All works underwent peer-review and conform to strict criteria, including a high level of originality (more than 90%), elements of scientific novelty, contribution to the development of economic science, and broad possibilities for practical application. The target audience of this scientific work includes postgraduates, lecturers at higher educational establishments, and researchers studying the modern global financial system. Based on the authors’ conclusions and results, readers will be equipped to pursue their own scientific research. The topics addressed include (but are not limited to) the following issues, which are interesting for modern economic science and practice: financial globalization, the role of finances in the global economy, perspectives of transition in the financial system from part of the infrastructure to a new vector of development in the global economy in the 21st century, reasons for the crisis of the modern financial system and ways of overcoming it, problems and perspectives regarding the harmonization of the global financial system, and scenarios of development for the global financial system. The content is divided into the following parts: development of financial systems at the micro-, meso- and macro-levels, financial infrastructure of the modern economy, legal issues of development of the modern financial system, and management of the global financial system.

Crisis and Reform

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Publisher : McGill-Queen's Press - MQUP
ISBN 13 : 1928096018
Total Pages : 268 pages
Book Rating : 4.9/5 (28 download)

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Book Synopsis Crisis and Reform by : Rohinton P. Medhora

Download or read book Crisis and Reform written by Rohinton P. Medhora and published by McGill-Queen's Press - MQUP. This book was released on 2016-10-17 with total page 268 pages. Available in PDF, EPUB and Kindle. Book excerpt: The financial crisis that erupted in 2008 severely affected the global economy, plunging most countries into a recession with aftershocks still being felt today. Canada was able to weather the crisis well in comparison to many euro-zone countries and the United States, but it did not escape unscathed. Two major themes are explored in this volume: Canada’s role in the international financial system and the Canadian policy response to the global financial crisis. These themes are examined in light of the shift from the classical gold standard to Bretton Woods to the “non-system” of late, the finance-trade crossover agenda, the changing role of central banks, the European Monetary Union, developing countries and a post-financial crisis global political economy. What becomes clear in this volume is that Canada plays a powerful role, which belies its size, in the development of the financial system and its regulation at an international level. Crisis and Reform: Canada and the International Financial System — the 28th volume of the influential Canada Among Nations series — examines the global financial crisis through Canada’s historical and current role in the international financial system. Canada has been held up as a shining example of good governance during the financial crisis, and its prominent role within international financial institutions should grow as Canada continues as a leading player in the global financial system.

Developing Countries and the Globalization of Financial Markets

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Author :
Publisher : International Monetary Fund
ISBN 13 : 1451852797
Total Pages : 32 pages
Book Rating : 4.4/5 (518 download)

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Book Synopsis Developing Countries and the Globalization of Financial Markets by : Mr.Malcolm D. Knight

Download or read book Developing Countries and the Globalization of Financial Markets written by Mr.Malcolm D. Knight and published by International Monetary Fund. This book was released on 1998-07-01 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper analyzes the impact of the globalization of financial markets on developing and transition economies. Differences between the responses of competitive and imperfectly competitive banking sectors cause them to affect economic activity differently. While nonbank financial markets and institutions can help to increase the competitiveness of banking sectors, there are “gaps” in the institutions and market structures of developing and transition economies. Eliminating these gaps may reinforce financial market discipline in these countries. Some current international initiatives are outlined for enhancing financial system soundness; these emphasize the complementary roles of market discipline and official oversight in an environment of globalized markets.

Global Financial Development Report 2019/2020

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Author :
Publisher : World Bank Publications
ISBN 13 : 1464814961
Total Pages : 281 pages
Book Rating : 4.4/5 (648 download)

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Book Synopsis Global Financial Development Report 2019/2020 by : World Bank

Download or read book Global Financial Development Report 2019/2020 written by World Bank and published by World Bank Publications. This book was released on 2019-11-22 with total page 281 pages. Available in PDF, EPUB and Kindle. Book excerpt: Over a decade has passed since the collapse of the U.S. investment bank, Lehman Brothers, marked the onset of the largest global economic crisis since the Great Depression. The crisis revealed major shortcomings in market discipline, regulation and supervision, and reopened important policy debates on financial regulation. Since the onset of the crisis, emphasis has been placed on better regulation of banking systems and on enhancing the tools available to supervisory agencies to oversee banks and intervene speedily in case of distress. Drawing on ten years of data and analysis, Global Financial Development Report 2019/2020 provides evidence on the regulatory remedies adopted to prevent future financial troubles, and sheds light on important policy concerns. To what extent are regulatory reforms designed with high-income countries in mind appropriate for developing countries? What has been the impact of reforms on market discipline and bank capital? How should countries balance the political and social demands for a safety net for users of the financial system with potentially severe moral hazard consequences? Are higher capital requirements damaging to the flow of credit? How should capital regulation be designed to improve stability and access? The report provides a synthesis of what we know, as well as areas where more evidence is still needed. Global Financial Development Report 2019/2020 is the fifth in a World Bank series. The accompanying website tracks financial systems in more than 200 economies before, during, and after the global financial crisis (http://www.worldbank.org/en/publication/gfdr) and provides information on how banking systems are regulated and supervised around the world (http://www.worldbank.org/en/research/brief/BRSS).

Global Financial Development Report 2013

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Author :
Publisher : World Bank Publications
ISBN 13 : 0821395041
Total Pages : 220 pages
Book Rating : 4.8/5 (213 download)

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Book Synopsis Global Financial Development Report 2013 by : World Bank

Download or read book Global Financial Development Report 2013 written by World Bank and published by World Bank Publications. This book was released on 2012-09-01 with total page 220 pages. Available in PDF, EPUB and Kindle. Book excerpt: This new annual publication from the World Bank Group provides an overview and assessment of financial sector development around the world, with particular attention on medium- and low-income countries.

Financial Systems and Economic Policy in Developing Countries

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Author :
Publisher :
ISBN 13 :
Total Pages : 288 pages
Book Rating : 4.3/5 (97 download)

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Book Synopsis Financial Systems and Economic Policy in Developing Countries by : Stephan Haggard

Download or read book Financial Systems and Economic Policy in Developing Countries written by Stephan Haggard and published by . This book was released on 1995 with total page 288 pages. Available in PDF, EPUB and Kindle. Book excerpt: Using new theoretical insights and cumulative empirical evidence, editors Stephan Haggard and Chung H. Lee question the wisdom of a free-market system where financial markets are concentrated and lack prudent supervision.