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Global governance versus domestic governance: what roles of international institutions ?

Author

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  • Jean-Pierre Allegret

    (GATE - Groupe d'analyse et de théorie économique - UL2 - Université Lumière - Lyon 2 - ENS LSH - Ecole Normale Supérieure-Lettres et Sciences Humaines - CNRS - Centre National de la Recherche Scientifique)

  • Philippe Dulbecco

    (GATE - Groupe d'analyse et de théorie économique - UL2 - Université Lumière - Lyon 2 - ENS LSH - Ecole Normale Supérieure-Lettres et Sciences Humaines - CNRS - Centre National de la Recherche Scientifique)

Abstract

Since the late 80s', emerging economies are striking by a recurrent instability of their financial system. The main lesson is that the domestic institutional infrastructure represents a critical condition necessary for successful liberalization. This critical condition refers to what we agree to call the " domestic governance " approach. The traditional answer provided in order to deal with this instability refers to the so-called " new international financial infrastructure ". This initiative seems insufficient because it does not take into account the degree of adaptability of the prevailing domestic institutions. The purpose of our paper is to propose an analytical framework aimed at studying the relationship between " domestic governance " and " global governance ". The challenge becomes to organize a multi-speed financial liberalization process in which capital controls could play a decisive role.
(This abstract was borrowed from another version of this item.)

Suggested Citation

  • Jean-Pierre Allegret & Philippe Dulbecco, 2000. "Global governance versus domestic governance: what roles of international institutions ?," Post-Print halshs-00146958, HAL.
    • Handle: RePEc:hal:journl:halshs-00146958
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    Cited by:

    1. Jean Pierre Allegret, 2012. "Responses of Monetary Authorities in Emerging Economies to International Financial Crises: What Do We Really know?," European Research Studies Journal, European Research Studies Journal, vol. 0(3), pages 3-32.
    2. Jean-Pierre Allegret & René Sandretto, 2000. "La nouvelle architecture du système monétaire international," L'Actualité Economique, Société Canadienne de Science Economique, vol. 76(3), pages 437-456.
    3. Christine Sinapi, 2011. "Institutional Prerequisites of Financial Fragility within Minsky's Financial Instability Hypothesis: A Proposal in Terms of 'Institutional Fragility'," Economics Working Paper Archive wp_674, Levy Economics Institute.
    4. Rossi, Giovanni, 2005. "The New IMS Architecture and the Spirit of the Bretton Woods," MPRA Paper 89877, University Library of Munich, Germany.
    5. Philippe DULBECCO & Jean-Pierre ALLEGRET & COURBIS, 1999. "Financial Liberalisation and Stability of the Financial System in Emerging Markets: the institutional dimension of financial crises," Working Papers 199918, CERDI.
    6. Jean-Pierre Allegret, 2007. "«Quels régimes de change pour les marchés émergents ? Les solutions de coins en questions»," Panoeconomicus, Savez ekonomista Vojvodine, Novi Sad, Serbia, vol. 54(4), pages 397-427.
    7. Jean-Pierre Allegret, 2012. "Les mouvements de capitaux à destination des pays émergents après la crise financière liée aux subprimes," Post-Print hal-01410723, HAL.

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