Global Financial Architecture - Article by Charles W. Calomiris

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 ...

Intergovernmentalism in Financial Regulation

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 ...