IDEAS home Printed from https://ideas.repec.org/a/mes/emfitr/v52y2016i10p2212-2220.html
   My bibliography  Save this article

Strengthening the Global Financial Safety Net: Challenges and Prospects

Author

Listed:
  • Choongsoo Kim

Abstract

The paper shares the idea on the current global financial circumstance; whereas rapid financial globalization was a basic source of the systemic risks of the global financial crisis, the world economy is even more integrated in the aftermath of the global crisis. It emphasizes the importance of the global community to strengthening the GFSN to respond to a crisis. Kim argues that the GFSN should be a multi-layered structure, and only a single layer alone would not be sufficient to handle the global crisis due to its impact of economic damage. More specifically, the paper suggests a multi-layered structure of the GFSN as follows: self-insurance with foreign exchange reserves, bilateral currency swaps by central banks, RFAs already influencing regional financial recourse and stability in several regions, and global arrangements, such as the IMF facilities.

Suggested Citation

  • Choongsoo Kim, 2016. "Strengthening the Global Financial Safety Net: Challenges and Prospects," Emerging Markets Finance and Trade, Taylor & Francis Journals, vol. 52(10), pages 2212-2220, October.
    • Handle: RePEc:mes:emfitr:v:52:y:2016:i:10:p:2212-2220
    DOI: 10.1080/1540496X.2016.1174854
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.1080/1540496X.2016.1174854
    Download Restriction: Access to full text is restricted to subscribers.
    File URL: https://libkey.io/10.1080/1540496X.2016.1174854?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:mes:emfitr:v:52:y:2016:i:10:p:2212-2220. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Chris Longhurst (email available below). General contact details of provider: http://www.tandfonline.com/MREE20 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.