Thursday, June 26th, 2008
The overview of G8 Action Plan on Local Bond Markets lists a couple of documents that were mentioned in the implementation report to be published soon, but have not been published since:
IMF: "ABS in Emerging Markets: Recent Trends and Policy Implications"
Capital Markets Consultative Group (CMCG): Study about the Impediments ...
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Wednesday, June 25th, 2008
The Document contains an overview of the G8 Action Plan on the developments of local currency bond markets and the implementation report.
The overview-report looks at the problems identified by the G8 Action Plans, Task delegated to various institutions and results given from the implementation report. It is subdivided into ten ...
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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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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 ...
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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
Didier Jacobs, special advisor to the president of Oxfam America, wrote an interesting paper called "Democraticing Global Economic Governance". He presented this paper in May 2002 at a conference on "Alternatives to Neoliberalism" by the NGO-Coalition "New Rules for Global Finance".
In the paper, he focuses mostly on the participation of ...
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Sunday, April 13th, 2008
The FSF Report on Financial Stability (called "Enhancing Market and Institutional Resilience") was yesterday approved by the G7.
To assess the impact of the report on the global financial architecture and the responses to the credit crisis in the financial markets, it is worthwhile recalling the original demands of the G7.
In ...
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