Thursday, July 31st, 2008
Last week I had a fascinating conversation with a friend of mine who is an anarchist. We tend to discuss international capitalism and he always wants to convince me that it is possible to create a society without capitalism. When I asked him about what that would mean he ...
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Sunday, June 22nd, 2008
This article discusses the membership of 43 key economies in the major international financial institutions. The aim is to assess whether the global financial architecture adequately incorporates the key economies. The article can also be found in this PDF-Document.
The chart (left) lists 21 international organizations. Some of them are grouped ...
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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 ...
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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 ...
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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 ...
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Sunday, April 20th, 2008
When academics, analysts and scholars analyze the causes and remedies for the current credit crisis, most of them analyze macro-economic trends such as exchange rate movements, or micro-economic changes such as Basel II.
How the global financial architecture evolved and how that influences the probability of crisis is very rarely discussed. ...
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Monday, April 14th, 2008
Kern Alexander, Rahul Dhumale and John Eatwell published a book in 2004 called "
Posted in Books | 4 Comments »
Saturday, April 5th, 2008
Institution: European Central Securities Depositories Association
Abbreviation: ECSDA
Type: Private
Founded: 1997 (History: The European Central Securities Depositories Association (ECSDA) was formed in 1997 in Madrid in order to provide a forum for CSDs to exchange views and take forward projects of mutual interest. )
Members Total: 42
Membership in:
Membership of:
Description: The general ...
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Saturday, April 5th, 2008
Institution:International Financial Institution Advisory Commission
Abbreviation: IFIAC
Type: Public
Founded: 1998-1999
Members Total: not applicable
Membership in: not applicable
Membership of: not applicable
Description:In November 1998 as part of the legislation authorizing $18 billion of additional U.S. funding for the International Monetary Fund, Congress established the International Financial Institution Advisory Commission to recommend future U.S. policy ...
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Wednesday, April 2nd, 2008
Institution: Committee of European Securities Regulators
Abbreviation: CESR
Type: Public
Founded: 2001
Members Total:
Membership in:
Membership of:
Description: The role of CESR is to improve co-ordination among securities regulators, act as an advisory group to assist the EU Commission, work to ensure more consistent and timely day-to-day implementation of community legislation in the Member States.
Working ...
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