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Reforming the International Financial Architecture: An Asian Perspective

In: What Global Economic Crisis?

Author

Listed:
  • M. G. Quibria
  • Joy Quitazol

Abstract

In the wake of the Mexican financial crisis in 1994–95, policy-makers began to realize that global financial institutions and rules have not kept pace with the speed of integration in international capital markets. Although it had evolved over the years, the existing Bretton Woods architecture had originally been designed for a world where capital mobility was limited. Since the Halifax Summit of the G7 leaders in 1995, but especially after the Asian financial crisis, official discussions on an international financial architecture have proliferated and an increasing number of organizations have become involved. In addition, a number of individual academics and other commentators have put forward their own reform proposals. The result is a plethora of ideas.

Suggested Citation

  • M. G. Quibria & Joy Quitazol, 2001. "Reforming the International Financial Architecture: An Asian Perspective," Palgrave Macmillan Books, in: Philip Arestis & Michelle Baddeley & John McCombie (ed.), What Global Economic Crisis?, chapter 3, pages 35-58, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-333-99274-6_3
    DOI: 10.1057/9780333992746_3
    as

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