The Role of the International Financial Architecture Prior to and Since the Global Financial Crisis

2017 ◽  
pp. 113-146
Author(s):  
Anthony Elson
Keyword(s):  
Financial Crisis ◽  
Global Financial Crisis ◽  
Financial Architecture ◽  
International Financial Architecture ◽  
The Global Financial Crisis

scholarly journals REFORM OF THE INTERNATIONAL FINANCIAL ARCHITECTURE: AN ASIAN PERSPECTIVE

2010 ◽  
Vol 55 (01) ◽  
pp. 207-242 ◽  
Author(s):  
MASAHIRO KAWAI
Keyword(s):  
Financial Crisis ◽  
Economic Integration ◽  
Global Financial Crisis ◽  
Asian Development Bank ◽  
Executive Directors ◽  
Development Bank ◽  
Asian Development ◽  
Financial Architecture ◽  
International Financial Architecture ◽  
The Global Financial Crisis

This is a substantially revised version of the paper presented to the Symposium on Asian Economic Integration organized by Nanyang Technology University in Singapore, 4–5 September 2008. The author is grateful to Teresa Carpenter for providing comments on an earlier version and to Pradumna B. Rana for encouraging him to update the paper with the discussion of recent international financial architecture reforms in response to the global financial crisis of 2007–2009. He also acknowledges competent editorial assistance by Barnard Helman. The findings, interpretations, and conclusions expressed in the paper are entirely those of the author alone and do not necessarily represent the views of the Asian Development Bank, its Institute, its executive directors, or the countries they represent.

Global Finance after the Crisis: Reform Imperatives and Vested Interests

2011 ◽  
Vol 11 (2) ◽  
pp. 1850228
Author(s):  
Wim Naude
Keyword(s):  
Financial Crisis ◽  
Global Financial Crisis ◽  
Global Level ◽  
Reform Initiatives ◽  
Global Finance ◽  
Financial Architecture ◽  
Vested Interests ◽  
Recent Reform ◽  
The Global Financial Crisis ◽  
Made In

The global financial crisis of 2008-09 has stimulated a number of re-assessments of global development. But after two years, not much progress has been made in dealing with the deep causes of the crisis. While it is better understood now why the crisis occurred, more progress is needed in terms of financial reform on the global level in order to prevent future financial crises. A remaining challenge is to strengthen the global financial architecture (GFA). This paper focuses on the GFA and its relationship to the global financial crisis. Recent reform initiatives are discussed. Strong resistance against re-regulation of the financial sector is noted, reflecting the general opposition of vested interests to GFA reform.

Transparency Regulation in Financial Markets – Moving into the Surveillance Age?

2011 ◽  
Vol 2 (3) ◽  
pp. 305-321
Author(s):  
Iris H-Y Chiu
Keyword(s):  
Financial Crisis ◽  
Financial Markets ◽  
Financial Regulation ◽  
Global Financial Crisis ◽  
Financial Sector ◽  
Regulatory Control ◽  
Legal Reforms ◽  
The Global Financial Crisis ◽  
Risk Oversight

In the wake of the global financial crisis, the trajectory of legal reforms is likely to turn towards more transparency regulation. This article argues that transparency regulation will take on a new role of surveillance as intelligence and data mining expand in the wholesale financial sector, supporting the creation of designated systemic risk oversight regulators.The role of market discipline, which has been acknowledged to be weak leading up to the financial crisis, is likely to be eclipsed by a more technocratic governance in the financial sector. In this article, however, concerns are raised about the expansion of technocratic surveillance and whether financial sector participants would internalise the discipline of regulatory control. Certain endemic features of the financial sector will pose challenges for financial regulation even in the surveillance age.

The impact of the global financial crisis on Millennium Development Goal attainment in Africa

2017 ◽  
Author(s):  
Leah McMillan Polonenko
Keyword(s):  
Financial Crisis ◽  
Goal Attainment ◽  
Global Financial Crisis ◽  
Adequate Funding ◽  
Development Goals ◽  
Education In Ghana ◽  
The Global Financial Crisis ◽  
The Impact ◽  
Global Initiatives

This chapter examines the challenges involved in attaining the Millennium Development Goals (MDGs) in Africa in the wake of the 2008 global financial crisis and highlights important lessons for future financing of global initiatives. The 2008 global financial crisis provided a very important caution: global initiatives are only as good as their global conditions. The crisis had very real consequences for the education sector, particularly through the reduction of adequate funding. The chapter first considers the consequences of the global financial crisis to education, taking into account the role of foreign aid, before discussing the cases of primary education in Ghana and Zimbabwe. It concludes by suggesting some best practices for learning from the failures to education from the 2008 agenda.

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