Globalization, Capital Flows, and International Regulation
AbstractIn the postwar period prior to 1990 policy proposals aimed at reducing the instabilities associated with increased capital flows focused on increasing market efficiencies so that nominal variables would reflect real conditions in the economy. However, those in charge of financial resource flows applied theories largely unconcerned with fundamentals, resulting in such financial market instabilities as volatility in the foreign exchange market. Andrew Cornford, of the Global Interdependence Division of UNCTAD, and Jan Kregel, of the University of Bologna, examine the policies of the postwar period and the reasons for their failure to produce economic stability. They then explore the means by which instability might be reduced.
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Bibliographic InfoPaper provided by Levy Economics Institute in its series Economics Working Paper Archive with number wp_161.
Date of creation: May 1996
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Other versions of this item:
- Andrew Cornford & Jan Kregel, 1998. "Globalization, Capital Flows, and International Regulation," Macroeconomics, EconWPA 9807005, EconWPA.
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- Koedijk, C.G. & Kool, C.J.M., 1993.
"Betting on the EMS,"
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- Mario Tonveronachi, 2010. "Empowering supervisors with more principles and discretion to implement them will not reduce the dangers of the prudential approach to financial regulation," PSL Quarterly Review, Economia civile, Economia civile, vol. 63(255), pages 363-378.
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