Reforming the International Financial System for Development by Jomo Kwame Sunda

Description: Reforming the International Financial System for Development by Jomo Kwame Sundaram Our latest global financial crisis, in which all of 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 historic trends in global liquidity, financial flows to emerging markets, and the food crisis, identifying the systemic flaws that brought about our present 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, and the critical role of the World Trade Organization in liberalizing and globalizing financial services, and the need for international tax cooperation. They also provide a blueprint for a new global banking model and reserve. FORMAT Hardcover LANGUAGE English CONDITION Brand New Publisher Description 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. Notes The fundamental questions about economic policy discussed in this book are key to the future. If real progress is to be made on issues from financial regulation to the international monetary system, the proposals in this book deserve serious attention. -- Kemal Dervis, vice president, Global Economy and Development, Brookings Institution, and former administrator of the United Nations Development Program Reforming the International Financial System for Development provides a comprehensive treatment under a unified intellectual framework of all aspects of reform priorities, including macroeconomics, financial sector regulation, international financial institutions, and global financial architecture. A compulsory read for policymakers, academics, and all participants in financial markets. -- Y. Venugopal Reddy, professor emeritus, University of Hyderabad, and former governor, Reserve Bank of India Reforming the International Financial System for Development covers all the relevant territory. It is by far the best overall treatment of the important implications of the reform and regulation of the financial system for economic development. -- Jan Kregel, coauthor of International Finance and Development Author Biography Jomo Kwame Sundaram is assistant secretary general for economic development at the United Nations and research coordinator for the G24 Intergovernmental Group on International Monetary Affairs and Development. In 2007 he was awarded the Wassily Leontief Prize for Advancing the Frontiers of Economic Thought. Table of Contents List of Tables List of Figures Acknowledgements Contributors Foreword 1 Contemporary Reform of Global Financial Governance: Implications of and Lessons from the Past, by Eric Helleiner 2 Global Liquidity and Financial Flows to Developing Countries: New Trends in Emerging Markets and Their Implications, by C.P. Chandrasekhar 3 The Global Financial and Economic Crisis and Its Impact on Development, by Jomo Kwame Sundaram 4 The Unnatural Coupling: Food and Global Finance, by Jayati Ghosh 5 Policy Responses to the Global Financial Crisis: Key Issues for Developing Countries, by Y?lmaz Akyuz 6 Reforming Financial Regulation: What Needs to Be Done, by Jane DArista and Stephany Griffith-Jones 7 The Basel 2 Agenda for 2009: Progress So Far, by Andrew Cornford 8 Should Financial Flows Be Regulated? Yes, by Gerald Epstein "9 Financial Services, the WTO and Initiatives for Global Financial Reform", by Chakravarthi Raghavan 10 Cross-Border Tax Evasion and Bretton Woods II, by David Spencer 11 Learning from the Crisis: Is There a Model for Global Banking?, by C.P. Chandrasekhar 12 The Report of the Commission of Experts on Reform of the International Monetary and Financial System and Its Economic Rationale, by Jan Kregel 13 Special Drawing Rights and the Reform of the Global Reserve System, by Jose Antonio Ocampo Index Review Reforming the International Financial System for Development covers all the relevant territory. It is by far the best overall treatment of the important implications of the reform and regulation of the financial system for economic development. ¿ Jan Kregel, coauthor of International Finance and Development Promotional The fundamental questions about economic policy discussed in this book are key to the future. If real progress is to be made on issues from financial regulation to the international monetary system, the proposals in this book deserve serious attention. -- Kemal Dervis, vice president, Global Economy and Development, Brookings Institution, and former administrator of the United Nations Development Program Reforming the International Financial System for Development provides a comprehensive treatment under a unified intellectual framework of all aspects of reform priorities, including macroeconomics, financial sector regulation, international financial institutions, and global financial architecture. A compulsory read for policymakers, academics, and all participants in financial markets. -- Y. Venugopal Reddy, professor emeritus, University of Hyderabad, and former governor, Reserve Bank of India Reforming the International Financial System for Development covers all the relevant territory. It is by far the best overall treatment of the important implications of the reform and regulation of the financial system for economic development. -- Jan Kregel, coauthor of International Finance and Development Promotional "Headline" Setting a new agenda for cooperation, regulation, and reform. Excerpt from Book Read an >excerpt from the book. (pdf) Details ISBN0231157649 Short Title REFORMING THE INTL FINANCIAL S Publisher Columbia University Press Language English ISBN-10 0231157649 ISBN-13 9780231157643 Media Book Format Hardcover DEWEY 332.153 Illustrations Yes Imprint Columbia University Press Place of Publication New York Country of Publication United States Edited by Jomo Kwame Sundaram Translated from English UK Release Date 2011-01-17 AU Release Date 2011-01-17 NZ Release Date 2011-01-17 US Release Date 2011-01-17 Author Jomo Kwame Sundaram Pages 392 Series Initiative for Policy Dialogue at Columbia: Challenges in Development and Globalization Year 2011 Publication Date 2011-01-17 Audience Professional & Vocational We've got this At The Nile, if you're looking for it, we've got it. With fast shipping, low prices, friendly service and well over a million items - you're bound to find what you want, at a price you'll love! TheNile_Item_ID:161839069;

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