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Author: Publisher: World Bank Publications ISBN: 0195204824 Category : Access to Finance Languages : en Pages : 259
Book Description
This report focuses on the contribution that international capital makes to economic development. While the report pays close attention to the events of the recent past, it also places the use of foreign capital in a broader and longer-term perspective. Using such a perspective, the report shows how countries at different stages of development have used external finance productively; how the institutional and policy environment affects the volume and composition of financial flows to developing countries; and how the international community has dealt with financial crises. This report concludes that the developing countries will have a continuing need for external finance. It demonstrates that many of the policies required to attract external finance and promote economic growth are either being implemented or planned already.
Author: Publisher: World Bank Publications ISBN: 0195204824 Category : Access to Finance Languages : en Pages : 259
Book Description
This report focuses on the contribution that international capital makes to economic development. While the report pays close attention to the events of the recent past, it also places the use of foreign capital in a broader and longer-term perspective. Using such a perspective, the report shows how countries at different stages of development have used external finance productively; how the institutional and policy environment affects the volume and composition of financial flows to developing countries; and how the international community has dealt with financial crises. This report concludes that the developing countries will have a continuing need for external finance. It demonstrates that many of the policies required to attract external finance and promote economic growth are either being implemented or planned already.
Author: Jomo Kwame Sundaram Publisher: Columbia University Press ISBN: 0231527276 Category : Business & Economics Languages : en Pages : 561
Book 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.
Author: Robert E. Litan Publisher: Rowman & Littlefield ISBN: 9780815798132 Category : Social Science Languages : en Pages : 452
Book Description
The extensive reforms and liberalization of financial services in emerging markets worldwide call for cutting-edge strategies to capture the benefits of new investment opportunities. In Open Doors, a volume of papers from the third annual Financial Markets and Development conference, multidisciplinary financial sector experts analyze current economic and political trends and prescribe practical advice to the financial development community. The book addresses the key issues of concern regarding the emerging markets, including the trends, motivations, and scope of FDI in finance; policy options that will best capture the opportunities of foreign entry; and the role of foreign institutions in e-finance innovation. The authors focus on specific topics such as foreign participation in emerging market banking systems and securities industries, WTO policies and enforcement, the role of foreign banks, liberalization of insurance markets, the need for capital markets, and the policy, regulatory, and legal issues associated with e-finance. For policymakers and financial practitioners affected by the WTO's Financial Services Agreement, this timely book should be of particular interest. Contributors include Donald Mathieson (International Money Fund), Pierre Sauvé (Trade Directorate, OECD), George J. Vojta (formerly with Bankers Trust and Citibank), Harold D. Skipper (J. Mack Robinson College of Business, Georgia State University), Benn Steil (Council on Foreign Relations), Morris Goldstein and Edward M. Graham (Institute for International Economics), Nicolas Lardy (Brookings Institution), Phillip Turner (Bank of International Settlements), and Robert Ledig (Fried, Frank, Shriver & Jacobson).
Author: Stephan Haggard Publisher: ISBN: Category : Asia Languages : en Pages : 288
Book Description
Using new theoretical insights and cumulative empirical evidence, editors Stephan Haggard and Chung H. Lee question the wisdom of a free-market system where financial markets are concentrated and lack prudent supervision.
Author: Thorsten Beck Publisher: World Bank Publications ISBN: Category : Capital market Languages : en Pages : 43
Book Description
Financial sector development fosters economic growth and reduces poverty by widening and broadening access to finance and allocating society's savings more efficiently. The author first discusses three pillars on which sound and efficient financial systems are built: macroeconomic stability and effective and reliable contractual and informational frameworks. He then describes three different approaches to government involvement in the financial sector: the laissez-faire view, the market-failure view and the market-enabling view. Finally, the author analyzes the sequencing of financial sector reforms and discusses the benefits and challenges that emerging markets face when opening their financial systems to international capital markets.
Author: Stephan Haggard Publisher: ISBN: Category : Finance, Public Languages : en Pages : 362
Book Description
In this second volume of Strong on Music, Vera Brodsky Lawrence carries into the 1850s her landmark account of the nineteenth-century New York music scene. Using music entries from George Templeton Strong's famous journals—most published here for the first time—as a point of departure, Lawrence provides a vivid portrait of a vibrant musical culture. Each chapter presents one year in the musical life of New York City, with Lawrence's extensive commentary enriched both by excerpts from Strong's diaries and a lavish selection of little-known music criticism and comment from the period. The reviews, written by an often truculent, sometimes venal tribe of music journalists, cover the entire world of music—from opera to barrel organ, salon to saloon. In this New York, operas performed by renowned artists are parodied by blackface minstrels; performances of the Philharmonic Society are drowned by the raucous chatter of flirtatious adolescents, who turn concerts into a noisy singles' hangout; and irate critics trash the first performances of Verdi operas, calling the plots indecent and the scores noisy and unmelodic. In this volatile atmosphere, a native musical culture is born; its whose first faltering efforts are dubiously received, and the first American composers begin to emerge.
Author: Jeffrey D. Sachs Publisher: University of Chicago Press ISBN: 0226733181 Category : Business & Economics Languages : en Pages : 414
Book Description
For dozens of developing countries, the financial upheavals of the 1980s have set back economic development by a decade or more. Poverty in those countries has intensified as they struggle under the burden of an enormous external debt. In 1988, more than six years after the onset of the crisis, almost all the debtor countries were still unable to borrow in the international capital markets on normal terms. Moreover, the world financial system has been disrupted by the prospect of widespread defaults on those debts. Because of the urgency of the present crisis, and because similar crises have recurred intermittently for at least 175 years, it is important to understand the fundamental features of the international macroeconomy and global financial markets that have contributed to this repeated instability. This project on developing country debt, undertaken by the National Bureau of Economic Research, provides a detailed analysis of the ongoing developing country debt crisis. The project focuses on the middle-income developing countries, particularly those in Latin America and East Asia, although many lessons of the study should apply as well to other, poorer debtor countries. The project analyzes the crisis from two perspectives, that of the international financial system as a whole (volume 1) and that of individual debtor countries (volumes 2 and 3).
Author: Stephany Griffith-Jones Publisher: Commonwealth Secretariat ISBN: 9780850926750 Category : Business & Economics Languages : en Pages : 204
Book Description
How will proposed reforms of the global financial system affect developing countries? Do the IMF and World Bank need to find a new role? Can international standards and regulatory bodies operate in such a way that they help rather than hinder development? This book looks at how these and other issues of global governance impact on the developing world.
Author: Publisher: ISBN: Category : Financial institutions Languages : en Pages : 154
Book Description
This report has drawn on a wide range of World Bank reports and on numerous outside sources to capture the essentials of the complex field of finance. World Bank sources include ongoing research, as well as country, economic, sector and project work. It includes discussions on financial systems and development; the evolution of financial systems; financial sector issues in developing countries; financial systems in distress; and foundations and development of financial systems. Prerequisites for building an efficient system capable of mobilizing and allocating resources on a voluntary basis are specified.
Author: Gerry Helleiner Publisher: Springer ISBN: 1349244147 Category : Business & Economics Languages : en Pages : 504
Book Description
This book contains papers addressing the major problems and possible reforms in the international monetary and financial system from the perspective of developing countries. Among the issues addressed are global macroeconomic management, international liquidity, volatile private capital flows, structural adjustment, governance in the IMF and World Bank, the role of the regional development banks, and the potential for developing country cooperation.
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Author: Jomo Kwame Sundaram
Author: Robert E. Litan
Author: Stephan Haggard
Author: Thorsten Beck
Author: Stephan Haggard
Author: Jeffrey D. Sachs
Author: Stephany Griffith-Jones
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Author: Gerry Helleiner