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Global Governance for Financial Stability

  • Stephany Griffith-Jones
  • José Antonio Ocampo
Part of the Levy Institute Advanced Research in Economic Policy book series (LAREP)

Abstract

The problems of boom-bust patterns of financial markets have a long history (Kindleberger 1978; Reinhart and Rogoff 2009). Its frequency has been high since the 1970s, as a result of both financial liberalization and inadequate prudential regulation and supervision. Indeed, the North Atlantic financial crisis1 of 2007–09 provided further evidence that unless properly regulated, financial markets are prone to harmful boom-bust patterns, often leading to costly crises.2 In contrast, when financial systems had had simpler structures and were better regulated, as in the quarter of a century that followed the Second World War, crises were infrequent.

Keywords

Foreign Direct Investment Financial Stability Capital Requirement Global Governance Capital Account 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Copyright information

© Stephany Griffith-Jones and José Antonio Ocampo 2014

Authors and Affiliations

  • Stephany Griffith-Jones
  • José Antonio Ocampo

There are no affiliations available

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