Global Finance At Risk

Global Finance At Risk

by John Eatwell, Lance Taylor
     
 

ISBN-10: 1565846389

ISBN-13: 9781565846388

Pub. Date: 02/01/2001

Publisher: New Press, The

In Global Finance at Risk, two economists whom John Kenneth Galbraith has hailed as “accomplished scholars of the first rank” propose a bold solution to the financial crises that threaten us all: a World Financial Authority with powers to establish worldwide best-practice financial regulation and risk management. Expansion of finance in

Overview

In Global Finance at Risk, two economists whom John Kenneth Galbraith has hailed as “accomplished scholars of the first rank” propose a bold solution to the financial crises that threaten us all: a World Financial Authority with powers to establish worldwide best-practice financial regulation and risk management. Expansion of finance in industrialized economies, including that of the nineteenth-century United States, was accompanied by the same kind of turbulence now afflicting Asia, Russia, and Latin America. Then, the solution was to establish national banking and securities regulators, create deposit insurance, and empower lenders of last resort. But in our increasingly globalized times, an account opened at a local bank can be based on bad debt from anywhere in the world, including places outside the jurisdiction of those national agencies. And when banks fail, it is not only their account holders who suffer, but all of us. This is why, argue John Eatwell and Lance Taylor in this timely and urgent book, effective regulation of international finance is crucial to the economic health of all nations. Global Finance at Risk casts a welcome light on the deepening intricacies of world financial systems.

Product Details

ISBN-13:
9781565846388
Publisher:
New Press, The
Publication date:
02/01/2001
Edition description:
Reprint
Pages:
272
Product dimensions:
0.62(w) x 8.00(h) x 5.25(d)

Table of Contents

Prefaceix
1The Privatization of Risk1
2Liberalized Capital Markets and Global Economic Performance29
3Exchange Rates and Capital Controls54
4Developed Countries and the New Financial Order96
5Developing Countries and the New Financial Order140
6Regulation on a Global Scale180
7A World Financial Authority208
Further Reading240
Abbreviations245
Index247

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