Globalization and the International Financial System: What's Wrong and What Can Be Done

ISBN-13: 9780521843898 / Angielski / Twarda / 2004 / 388 str.

Peter Isard

Opis

This book provides prespectives on various aspects of the international financial system that contribute to financial crises and growth failures, and discusses the remedies that economists have proposed for addressing the underlying problems. It also sheds light on a central feature of the international financial system that remains mysterious to many economists and most non-economists: The International Monetary Fund and the factors that influence its effectiveness.

Recenzje

'… it is important … there is a general sense that the international financial architecture needs serious reform … Secondly, how do we deal with sovereign financial distress without running up against 'nationalist resistance' as well as extra-economic issues such as national security and political governance? Thirdly, given the global nature of the desired reforms, how will the new financial architecture deal with issues of accountability and representation, as whatever shape the reform takes has crucial implications for many people? Isard's thesis could be summarised thus: globalisation, and in particular economic globalisation, has speeded up large international capital flows with greater possibilities for financial crisis, to which the international system is prone because a host of things are wrong with the way the current international financial architecture is shaped … Globalisation and its consequences, not just for the financial system, but also for areas such as energy, the environment, migration, public health, etc. will be issues for debate for some time to come and rightly so. In that context, Isard's contribution is a useful and recommended addition.' Development Policy Review

Spis treści

List of figures, tables and boxes; List of abbreviations; Acknowledgments and disclaimer; Part I. Background: 1. Introduction; 2. The evolution of the international monetary system; 3. The international monetary fund; Part II. International Financial Crises and Obstacles to Growth: 4. Factors contributing to international financial crises; 5. The effects of crises and controversies over how to respond; 6. Perspectives on economic growth and poverty reduction; Part III. The Agenda for Reform: 7. What can individual countries do?; 8. How can the international financial system be reformed?; References; Author index; Subject index.