The Road to International Financial Stability: Are Key by Benu Schneider

By Benu Schneider

After the trouble in rising industry economies within the mid-late Nineties, the adoption of across the world famous criteria, or codes of fine perform, was once noticeable for you to aid enhance the overseas economic system. This quantity examines no matter if the criteria and codes workout could make a significant contribution to worldwide monetary balance and examines the constructing kingdom point of view. It takes the 1st steps in answering a few of the open questions within the field.

Show description

Read Online or Download The Road to International Financial Stability: Are Key Financial Standards the Answer? PDF

Best economic policy books

Economic Survey of Latin America and the Caribbean 2002-2003

This can be the fifty fifth variation within the sequence which supplies an overview of the economies of the Latin the USA and the Caribbean area in the course of 2002 and the 1st 1/2 2003. It contains: an summary of the neighborhood economic system as a complete, when it comes to macroeconomic regulations and reforms, inner fiscal functionality and the exterior fiscal area; and short analyses of the industrial functionality of 20 international locations together with tables and information for the most financial signs.

Between Export Promotion and Poverty Reduction: The Foreign Economic Policy of Untying Official Development Assistance

The tip of the chilly conflict has caused many donors of legit improvement counsel (ODA) to essentially realign their worldwide relief and alternate kinfolk. regardless of contemporary growth in untying ODA and a couple of similar efforts to reinforce the final potency of overseas cooperation with the poorest international locations, it continues to be unexplained why a few OECD states have liberalised their bilateral programmes to a substantial volume – while others have persevered to exploit international reduction as a method to advertise household exports.

Science Policies and Twentieth-Century Dictatorships: Spain, Italy and Argentina

Creating a clean contribution to the political heritage of technological know-how, this ebook explores the connections among the technology rules of 3 international locations that every skilled massive political upheaval within the 20th century: Spain, Italy and Argentina. via focussing on those 3 nations, the members may be able to current case reports that spotlight the features and specificities of the democratic and dictatorial political techniques concerned about the construction of technological know-how and know-how.

Supply Shock: Economic Growth at the Crossroads and the Steady State Solution

Politicians, economists, and Wall highway may have us think that unlimited financial enlargement is the Holy Grail, and that there's no clash among turning out to be the economic system and holding the surroundings. offer surprise debunks those extensively permitted myths and demonstrates that we're actually navigating the top of the period of monetary progress, and that the one sustainable substitute is the improvement of a gentle country financial system.

Extra info for The Road to International Financial Stability: Are Key Financial Standards the Answer?

Sample text

Voluntary compliance is important. Hence standardised rules are unlikely to be effective in countries where complementary laws exist only in part or not at all. For example, commercial law is a necessary prerequisite for the International Organisation of Securities Commission (IOSCO) standards, and an independent judiciary is a prerequisite for defining and bringing into practice the code on insolvency. The issue of ‘ownership’ is also related closely to the ‘incentives’ a country has to implement standards.

Take the licensing of banks, for example. In some countries, the criteria were designed primarily to ensure the distinction between the owners and those controlling a bank. But licensing is often also used to serve objectives such as the avoidance of ‘overbanking’, limitation of financial conglomeration, and (in the case of foreign entities) restricting foreign ownership of the banking sector or ensuring that the parent institution is supervised adequately in its home country. The objectives of licensing may have (usually proximate) relations to banking stability but cannot prevent serious banking instability or banking crises (UNCTAD, 2001).

16 Developing countries are already overburdened with conditionality. How will the IMF streamline conditionality if a new raft of conditions is added? Moreover, one cannot discuss conditionality when there is no economic proof that standards and codes are effective in developing countries. Failures of companies such as ENRON, WorldCom and so on have demonstrated the possible problems with effectiveness in the industrialised countries as well. 17 Even informal conditionality through the market incentive is problematic.

Download PDF sample

Rated 4.81 of 5 – based on 35 votes