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Reform of the Global Financial Architecture

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  • Garry Schinasi

Abstract

This paper examines the implications of the global financial crisis of 2007-10 for reform of the global financial architecture, in particular the International Monetary Fund and the Financial Stability Board and their interaction. These two institutions are not fully comparable, but they must work more closely in the future to help prevent global financial crises. To this end, the paper identifies institutional and substantive reforms separately and in their joint work that would be desirable and appropriate.
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Suggested Citation

  • Garry Schinasi, 2010. "Reform of the Global Financial Architecture," Bruegel Working Papers 444, Bruegel.
    • Handle: RePEc:bre:wpaper:444
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    References listed on IDEAS

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    1. Nicolas Veron & Stephane Rottier, 2010. "Not All Financial Regulation Is Global," Policy Briefs PB10-22, Peterson Institute for International Economics.
    2. Garry Schinasi, 2009. "More Than One Step to Financial Stability," Bruegel Policy Brief 341, Bruegel.
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    Cited by:

    1. Dungey, Mardi & Jacobs, Jan P.A.M. & Lestano,, 2015. "The internationalisation of financial crises: Banking and currency crises 1883–2008," The North American Journal of Economics and Finance, Elsevier, vol. 32(C), pages 29-47.
    2. Mario Lamberte & Peter J. Morgan, 2012. "Regional and Global Monetary Cooperation," Finance Working Papers 23190, East Asian Bureau of Economic Research.
    3. Miracle Okoth Mudeyi & Merlene Amonde, 2024. "Towards a Transformative Approach: Rethinking Debt Architecture through TWAIL Lens," Development, Palgrave Macmillan;Society for International Deveopment, vol. 67(3), pages 370-377, December.
    4. Ana Vlahović, 2014. "Challenges to the Implementation of a New Framework for Safeguarding Financial Stability," Journal of Central Banking Theory and Practice, Central bank of Montenegro, vol. 3(3), pages 19-52.
    5. Casselmann, Farina, 2013. "Financial services regulation in the wake of the crisis: The Capital Requirements Directive IV and the Capital Requirements Regulation," IPE Working Papers 18/2013, Berlin School of Economics and Law, Institute for International Political Economy (IPE).

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    More about this item

    JEL classification:

    • F30 - International Economics - - International Finance - - - General
    • F33 - International Economics - - International Finance - - - International Monetary Arrangements and Institutions
    • F36 - International Economics - - International Finance - - - Financial Aspects of Economic Integration
    • F53 - International Economics - - International Relations, National Security, and International Political Economy - - - International Agreements and Observance; International Organizations
    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation

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