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 EconWPA in its series Macroeconomics with number 9807005.
Length: 51 pages
Date of creation: 16 Jul 1998
Date of revision:
Note: Type of Document - Acrobat PDF; prepared on IBM PC - PC; to print on PostScript; pages: 51; figures: included
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Other versions of this item:
- Andrew Cornford & Jan A. Kregel, 1996. "Globalization, Capital Flows, and International Regulation," Economics Working Paper Archive wp_161, Levy Economics Institute.
- E - Macroeconomics and Monetary Economics
This paper has been announced in the following NEP Reports:
- NEP-ALL-1998-10-02 (All new papers)
- NEP-IFN-1998-10-02 (International Finance)
- NEP-PKE-1998-10-05 (Post Keynesian Economics)
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- Kees Koedijk & Clemens Kool, 1993.
"Betting on the EMS,"
Open Economies Review,
Springer, vol. 4(2), pages 151-173, June.
- 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, vol. 63(255), pages 363-378.
- Mario Tonveronachi & Elisabetta Montanaro, 2009. "Some preliminary proposals for re-regulating financial systems," Department of Economics University of Siena 553, Department of Economics, University of Siena.
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