Global Finance after the Crisis: Reform Imperatives and Vested Interests
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Wim Naude
The global financial crisis of 2008-09 has stimulated a number of re-assessments of global development. But after two years, not much progress has been made in dealing with the deep causes of the crisis. While it is better understood now why the crisis occurred, more progress is needed in terms of financial reform on the global level in order to prevent future financial crises. A remaining challenge is to strengthen the global financial architecture (GFA). This paper focuses on the GFA and its relationship to the global financial crisis. Recent reform initiatives are discussed. Strong resistance against re-regulation of the financial sector is noted, reflecting the general opposition of vested interests to GFA reform.
©2011 Walter de Gruyter GmbH & Co. KG, Berlin/Boston
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Articles in the same Issue
- Article
- FDI, Technology Spillovers, Growth, and Income Inequality: A Selective Survey
- The Offsetting Duty Norm and the Simultaneous Application of Countervailing and Antidumping Duties
- Migration of Firms, Home Bias and Economic Growth
- Do We Really Know That the WTO Increases Trade? Revisited
- What's New in Our World?
- A Review of the Crises
- Global Finance after the Crisis: Reform Imperatives and Vested Interests
- The Role of Employment Protection during an Exogenous Shock to an Economy
- Corporate Response to Global Financial Crisis: A Knowledge-Based Model
