Globalization and the international financial system : What's wrong and what can be done / Peter Isard.
Material type:
TextLanguage: English Publisher: Washington : Cambridge University Press ; 2005Description: xiii, 370 pages : illustrations ; 24 cmISBN: 9780521605076Subject(s): International Monetary Fund | Financial crises -- Developing countriesDDC classification: 332.042 | Item type | Current location | Call number | Status | Date due | Barcode |
|---|---|---|---|---|---|
| Books | Institute of Public Enterprise, Library S Campus | 332.042 ISA (Browse shelf) | Available | 33501 |
1. Introduction --
1.1. Globalization --
1.2. Overview of the book --
2. The evolution of the international monetary system --
2.1. The rise and fall of international monetary regimes, 1870-1945 --
2.1.1. The international gold standard --
2.1.2. Wartime convertibility restrictions --
2.1.3. Free floating --
2.1.4. A gold-exchange standard --
2.1.5. An uncoordinated hybrid system --
2.1.6. Managed floating --
2.1.7. Arrangements during World War II --
2.2. The Bretton Woods system : 1946-1971 --
2.2.1. Creation of the IMF and World Bank --
2.2.2. Adjustment and collapse : the power of internationally mobile capital --
2.3. The prevailing international monetary system --
2.3.1. Amendment of the agreement governing exchange rate arrangements --
2.3.2. European monetary integration --
2.3.3. Salient characteristics of the exchange rate system --
2.3.4. Agenda setting and international policy coordination --
2.4. Liberalized finance and the sea change in international capital flows --
2.5. Concluding perspectives --
3. The International Monetary Fund --
3.1. Purposes and activities --
3.2. Organizational and decision-making structures --
3.3. Surveillance --
3.3.1. Country surveillance : core activities and policy advice --
3.3.2. Country surveillance : new directions since the mid-1990s --
3.3.3. Global and regional surveillance --
3.4. Lending and economic stabilization programs --
3.4.1. Lending policies and facilities --
3.4.2. Program design and conditionality --
3.5. Technical assistance and research --
3.6. Criticisms of the IMF --
3.7. Concluding perspectives. pt. 2. International financial crises and obstacles to growth --
4. Factors contributing to international financial crises--
4.1. Historical and conceptual perspectives --
4.2. Selected crises of the 1990s : contributing factors and initial stages --
4.2.1. Mexico, 1994-1995 --
4.2.2. Thailand, 1997 --
4.2.3. Indonesia, 1997-1998 --
4.2.4. Korea, 1997-1998 --
4.2.5. Malaysia, 1997-1998 --
4.2.6. Russia, 1998 --
4.2.7. Brazil, 1998-1999 --
4.2.8. Sources of vulnerability and common characteristics --
4.3. IMF influence during precrisis periods --
4.4. Concluding perspectives --
5. The effects of crises and controversies over how to respond --
5.1. The sudden stop phenomenon --
5.2. Contagion --
5.3. Controversies over the macroeconomic and structural policy responses --
5.3.1. Exchange rate arrangements --
5.3.2. Interest rates policies --
5.3.3. Fiscal adjustment --
5.3.4. Structural policies and the scope of conditionality --
5.4. The issue of moral hazard : controversies over crisis lending --
5.5. What worked best? : impressions from Korea's recovery --
5.6. Concluding perspectives --
6. Perspectives on economic growth and poverty reduction --
6.1. Proximate determinants of growth : physical capital, human capital, and technology --
6.2 Deeper determinants of growth --
6.2.1. Institutions and incentives --
6.2.2. Openness to international trade --
6.2.3. Openness to international capital flows --
6.3. Poverty --
6.4. Aid and debt relief --
6.5. Concluding perspectives. pt. 3. The agenda for reform --
7. What can individual countries do? --
7.1. Devise a sensible strategy for liberalizing domestic financial markets and international capital flows --
7.2. Strengthen institutions, information, and the financial and corporate sectors --
7.3. Adopt sustainable exchange rate arrangements --
7.4. Maintain debt discipline, sound macroeconomic policies, and market confidence --
7.5. Open the economy to trade and FDI in a manner that results in growth-enhancing activities --
7.6. Concluding perspectives --
8. How can the international financial system be reformed? --
8.1. Strengthen the quality and impact of IMF surveillance --
8.2. Induce changes in the composition of international capital flows --
8.3. Introduce contingent debt contracts or other mechanisms for hedging against macroeconomic risks --
8.4. Address informational imperfections and distorted incentives on the supply side of international capital flows --
8.5. Revamp debt resolution procedures --
8.6. Strengthen the frameworks for development aid and official nonconcessional lending --
8.7. Concluding perspectives.
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