International Financial System: Policy and Regulation

Description

"'History has a way of repeating itself in financial matters because of a kind of sophisticated stupidity,' John Kenneth Galbraith once wrote. In a powerful demonstration of how we can learn from history, Professor Buckley analyses in depth the most devastating financial crises of the last quarter-century. He identifies the factors that can coalesce to trigger a financial crash. He then offers well-thought through legal measures to regulate these factors so as to prevent or minimise crises and to better protect those most vulnerable to international financial volatility: the poor in poor countries. In the course of the discussion he covers such topics as: the roles of the Bretton Woods institutions; global capital flows; debtor nation policies; the effects of the Brady restructurings of the 80s and 90s; the benefits of fixed versus floating exchange rates; the social costs of IMF policies; recent debt relief initiatives; a currency transactions tax; debt-for-development exchanges; the need for a global sovereign bankruptcy regime; and 'original sin', the national balance sheet problem. Professor Buckley's far-reaching recommendations include the details of much-needed tax, regulatory, banking, and bankruptcy regulation at a global level. As a general introduction to the international financial system and its regulation; as a powerful critique of the current system's imperfections; and most of all as an insightful work that identifies the principal lessons to be drawn from the past quarter century of international financial history, International Financial System: Policy and Regulation shows how to reconceive a system that has repeatedly sacrificed the lives of thousands and the futures of millions."--Cover.

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Other editions

• 

  International Financial System: Policy and Regulation

  • 2009-01-01
  • 193 pages
  • Paperback
  • Kluwer Law International B.V.
• 

  International Financial System: Policy and Regulation

  • 2008-06-16
  • 220 pages
  • Ebook
  • Kluwer Law International B.V.

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