Archive for April, 2008
Wednesday, April 30th, 2008
In most fields of regulation, even on the national level, organisation representing private interests or corporations have a saying. Private interestes are expressed through lobbyism and public relation activities, but the governance system in most states is characterized by representatives from the relevant industries having their say in standard-setting and ...
Posted in Memo | No Comments »
Tuesday, April 29th, 2008
Charles Calomiris article on a New Global Financial Architecture from October 1998 is an interesting document, outlining the criticism of the International Financial Institutions (IFIs).
He starts with an interesting claim:
Economics normally provides rather dismal news, emphasizing tradeoffs among objectives and hard choices. In the case of redesigning the global financial ...
Posted in Discussions | 1 Comment »
Sunday, April 27th, 2008
To assess the evolution of the Financial Architecture after the Asian Crisis, the Meltzer Report provides a good gauge for the critique of the USA and other G7 countries towards the International Financial Institution. The report is named after Allan H. Meltzer, an economist and prominent critic of the Bretton-Woods-Institutions.
In ...
Posted in Reports | No Comments »
Wednesday, April 23rd, 2008
Deutsche Bank has a glossary for market and stock terms. They list the following international financial institutions:
AIBD - Association of International Bond Dealers, now ICMA. BIS - Bank for International Settlements
EBR - European Bank for Reconstruction and Development
ECB - European Central Bank
EIB - European Investment Bank
ECSDA - European Central Securities Depositories ...
Posted in Memo | No Comments »
Wednesday, April 23rd, 2008
Commodity prices for agricultural products are rising - which is a troublesome sight for many least-developed and developing countries. Riots over the prices of basic food items, such as rice, wheat, corn, are threatening to destabilize many countries around the world. The development programmes of the United Nations and various ...
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Tuesday, April 22nd, 2008
Dirk Schoenmaker and Sander Osterloo from the Dutch Finance Ministry have written an article about Cross-border issues in European financial supervision as part of the book on the Structure of Financial Regulation by David G Mayes and Geoffrey E Wood.
At the beginning of their article, they point to the fundamental ...
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Tuesday, April 22nd, 2008
Charles Goodhart has written an article called "Financial supervision from an historical perspective" in a book about the "Structure of Financial Regulation" by David Mayed and Geoffrey E Wood.
He mostly focuses on the role of the Central Bank in the financial system, and in particular about how the Bank of ...
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Tuesday, April 22nd, 2008
David G. Mayes and Geoffrey E. Wood have published a book about "The Structure of Financial Regulation" in 2007 based on a workshop held at the Bank of FInland. The book includes some interesting chapters on:
Financial supervision
Bank regulation and money laundering
Corporate Governance
Insolvency Regimes
Financial stability and the EMU
Cross-Border Payment Systems
Securities clearing ...
Posted in Books | 2 Comments »
Tuesday, April 22nd, 2008
Puzzling Complexity
The global financial architecture is very complex. Despite increasing liberalization of financial markets, increased system risk and integration of the economies through the financial markets in the last 30 years, there is no single World Financial Authority regulating the financial markets, as Alexander, Eatwell and Dhumale have suggested.
Instead what ...
Posted in Memo | No Comments »
Monday, April 21st, 2008
In 2001, Kern Alexander and Rahul Dhumale published a paper on the relevance of International Standards for the Corporate Governance of Financial Institutions.
Both the BCBS and the OECD have released Corporate Governance Principles (the OEDC in 2004, the BCBS in 2006) building on previous work.
As the authors point out, corporate ...
Posted in Papers | No Comments »