International financial reform: a broad agenda

Includes bibliography

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Autor principal: Ocampo, José Antonio
Otros Autores: NU. CEPAL
Formato: Texto
Lenguaje:English
Publicado: ECLAC 2014
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Acceso en línea:http://hdl.handle.net/11362/7491
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spelling oai-11362-74912020-03-06T15:22:01Z International financial reform: a broad agenda Ocampo, José Antonio NU. CEPAL ADMINISTRACION FINANCIERA ASPECTOS FINANCIEROS CRISIS FINANCIERA DEUDA EXTERNA MERCADOS DE CAPITAL PAISES EN DESARROLLO RECURSOS FINANCIEROS SISTEMA MONETARIO INTERNACIONAL CAPITAL MARKETS DEVELOPING COUNTRIES EXTERNAL DEBT FINANCIAL ASPECTS FINANCIAL CRISIS FINANCIAL MANAGEMENT FINANCIAL RESOURCES INTERNATIONAL MONETARY SYSTEM Includes bibliography Abstract This paper argues that the agenda for international financial reform must be broadened in at least two senses. First of all, it should go beyond the issues of financial prevention and resolution, to those associated with development finance for poor and small countries, and to the ownership of economic and development policies by countries. Secondly, it should consider, in a systematic fashion, not only the role of world institutions but also of regional arrangements and the explicit definition of areas where national autonomy should be maintained. These issues should be tabled in a representative, balanced negotiation process, which should overcome some of the adverse political economy features that characterize the current debate. After some initial considerations of the nature of the problems that the current system faces and political economy issues, it considers: (1) the reforms associated to financial crisis prevention and resolution; (2) the role of development finance, including the use of multilateral development finance to support increased participation of low-income and small middle-income countries in private capital markets and the financing of social safety nets during crises; (3) the need to reach a renewed international agreement on the limits of conditionality and a full recognition of the central role of the "ownership" of development and macroeconomic policies by developing countries; (4) the role of regional and subregional institutions in increasing the supply of "global public goods" and other services in the area of international finance; and (5) the need to maintain several realms of national autonomy, including capital account regulations and the choice of exchange rate regimes. The paper argues that regional institutions and national autonomy are particularly important for the smaller players in the international arena, which will gain significantly from competition in the services provided to them and from the maintenance of freedom of action in a context of imperfect supply of global public goods."" 2014-01-02T16:49:57Z 2014-01-02T16:49:57Z 1999-10 Texto Documento Completo 9211212464 http://hdl.handle.net/11362/7491 LC/L.1255-P en Serie Temas de Coyuntura 6 application/pdf ECLAC
institution Cepal
collection Cepal
language English
topic ADMINISTRACION FINANCIERA
ASPECTOS FINANCIEROS
CRISIS FINANCIERA
DEUDA EXTERNA
MERCADOS DE CAPITAL
PAISES EN DESARROLLO
RECURSOS FINANCIEROS
SISTEMA MONETARIO INTERNACIONAL
CAPITAL MARKETS
DEVELOPING COUNTRIES
EXTERNAL DEBT
FINANCIAL ASPECTS
FINANCIAL CRISIS
FINANCIAL MANAGEMENT
FINANCIAL RESOURCES
INTERNATIONAL MONETARY SYSTEM
spellingShingle ADMINISTRACION FINANCIERA
ASPECTOS FINANCIEROS
CRISIS FINANCIERA
DEUDA EXTERNA
MERCADOS DE CAPITAL
PAISES EN DESARROLLO
RECURSOS FINANCIEROS
SISTEMA MONETARIO INTERNACIONAL
CAPITAL MARKETS
DEVELOPING COUNTRIES
EXTERNAL DEBT
FINANCIAL ASPECTS
FINANCIAL CRISIS
FINANCIAL MANAGEMENT
FINANCIAL RESOURCES
INTERNATIONAL MONETARY SYSTEM
Ocampo, José Antonio
International financial reform: a broad agenda
description Includes bibliography
author2 NU. CEPAL
author_facet NU. CEPAL
Ocampo, José Antonio
format Texto
author Ocampo, José Antonio
author_sort Ocampo, José Antonio
title International financial reform: a broad agenda
title_short International financial reform: a broad agenda
title_full International financial reform: a broad agenda
title_fullStr International financial reform: a broad agenda
title_full_unstemmed International financial reform: a broad agenda
title_sort international financial reform: a broad agenda
publisher ECLAC
publishDate 2014
url http://hdl.handle.net/11362/7491
work_keys_str_mv AT ocampojoseantonio internationalfinancialreformabroadagenda
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