Governing Global Finance : The Evolution and Reform of the International Financial Architecture

__Governing Global Finance__ examines the evolution of financial globalization and the attempts that have been made at the international level to establish a system of global financial governance (i.e. the international financial architecture) to safeguard the functioning of the international financial system. It explains how the international financial architecture has come to take the form that it has, and why it was unable to prevent the recent global financial crisis. The book considers a number of reforms that have been proposed to minimize the risk of future financial crises, as well as others that need to be implemented. Coverpage......Page 1 Title......Page 4 Copyright......Page 5 Dedication......Page 6 Contents......Page 8 List of Figures and Tables......Page 10 1 Introduction......Page 12 2 Financial Globalization and the International Financial Architecture......Page 20 3 The Evolution of the Global Financial Order......Page 38 4 The Breakdown of the Bretton Woods System and First Reform of the International Financial Architecture......Page 60 5 Emerging Market Financial Crises and the Second Reform of the International Financial Architecture......Page 86 6 The Challenge for Developing Countries in a World of Financial Globalization......Page 120 7 Financial Globalization and the Onset of the Global Financial Crisis of 2008–9......Page 140 8 The Role of the International Financial Architecture in Crisis Prevention and Crisis Management......Page 160 9 The Third Reform of the International Financial Architecture......Page 188 10 Conclusion......Page 218 Appendix: A Brief Guide to the Committees, Groups, and Institutions That Comprise the International Financial Architecture......Page 228 Notes......Page 244 Bibliography......Page 266 Index......Page 280 Introduction Financial globalization and the international financial architecture The evolution of the global financial order The breakdown of the Bretton Woods system and first reform of the international financial architecture Emerging market financial crises and the second reform of the international financial architecture The challenge for developing countries in a world of financial globalization Financial globalization and the onset of the global financial crisis of 2008-09 The role of the international financial architecture in crisis prevention and crisis management The third reform of the international financial architecture Conclusion. "Governing Global Finance examines the evolution of financial globalization and the attempts that have been made at the international level to establish a system of global financial governance (i.e. the international financial architecture) to safeguard the functioning of the international financial system. It explains how the international financial architecture has come to take the form that it has, and why it was unable to prevent the recent global financial crisis. The book considers a number of reforms that have been proposed to minimize the risk of future financial crises, as well as others that need to be implemented."--EBL book details. This book deals with the recent problems arising from the growth of financial globalization (i.e. the growing integration of capital markets across national borders), as reflected in the current global financial crisis, and the need to improve what has come to be known as the international financial architecture.