Basel III, BIS and Global Financial Governance
AbstractThis paper analyzes the following aspects of global financial governance: • Proposed BASEL III reforms for more stringent capital requirements and their implications for the developing world in particular. • BIS proposals for better regulation of financial derivatives, including commodities futures, by moving away from OTC transactions towards organized exchanges. The Basel reforms and the BIS proposals for regulating the derivatives markets have many positive features. However, they have not been designed with the needs of DCs and LDCs in mind. The consequences of Basel I and II and proposed Basel III are analyzed from the perspective of the developing countries. It turns out that specific concerns of developing countries have not received adequate attention within the Basel Reform Initiatives and more can be and needs to be done.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 49513.
Date of creation: Aug 2013
Date of revision:
dynamic complex adaptive economic systems; finance for development; financial architectures; financial crises; regional cooperation; BASEL III reforms; the BIS proposals;
Find related papers by JEL classification:
- F3 - International Economics - - International Finance
- O1 - Economic Development, Technological Change, and Growth - - Economic Development
- P1 - Economic Systems - - Capitalist Systems
This paper has been announced in the following NEP Reports:
- NEP-ACC-2013-09-28 (Accounting & Auditing)
- NEP-ALL-2013-09-28 (All new papers)
- NEP-CBA-2013-09-28 (Central Banking)
- NEP-FMK-2013-09-28 (Financial Markets)
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