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The Debate On The International Financial Architecture: Reforming The Reformers

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  • Yïlmaz AKYÜZ

Abstract

This paper briefly surveys the progress made in various areas of reform of the international financial architecture since the outbreak of the East Asian crisis, and explains the principal technical and political obstacles encountered in carrying out fundamental changes capable of dealing with global and systemic instability. It ends with a brief discussion of what developing countries could do at the global, national or regional level to establish defense mechanisms against financial instability and contagion.

Suggested Citation

  • Yïlmaz AKYÜZ, 2000. "The Debate On The International Financial Architecture: Reforming The Reformers," UNCTAD Discussion Papers 148, United Nations Conference on Trade and Development.
    • Handle: RePEc:unc:dispap:148
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    File URL: https://unctad.org/system/files/official-document/dp_148.en.pdf
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    References listed on IDEAS

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    1. Stanley Fischer, 1999. "On the Need for an International Lender of Last Resort," Journal of Economic Perspectives, American Economic Association, vol. 13(4), pages 85-104, Fall.
    2. Yilmaz AKYÜZ & Andrew CORNFORD, 1999. "Capital Flows To Developing Countries And The Reform Of The International Financial System," UNCTAD Discussion Papers 143, United Nations Conference on Trade and Development.
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    Cited by:

    1. Ozlem Onaran, 2004. "Life After Crisis For Labor And Capital in the Era of Neoliberal Globalization," Working Papers geewp43, Vienna University of Economics and Business Research Group: Growth and Employment in Europe: Sustainability and Competitiveness.
    2. K.S. Jomo & Ilene Grabel & Gerald Epstein, 2003. "Capital Management Techniques In Developing Countries: An Assessment of Experiences From the 1990s and Lessons for the Future," Working Papers wp56, Political Economy Research Institute, University of Massachusetts at Amherst.
    3. Y?lmaz Akyüz & Korkut Boratav, 2002. "The Making Of The Turkish Financial Crisis," UNCTAD Discussion Papers 158, United Nations Conference on Trade and Development.
    4. Jonathan Michie & Christine Oughton & Mario Pianta, 2002. "Innovation and the Economy," International Review of Applied Economics, Taylor & Francis Journals, vol. 16(3), pages 253-264.

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