Global capital market volatility and the developing countries : lessons from the East Asian crisis
FitzGerald, Valpy
Global capital market volatility and the developing countries : lessons from the East Asian crisis - 1999
Addresses the global causes of emerging market volatility, its local consequences, and the failure of international financial institutions, such as the IMF, to contain it. Discusses the attempts to extend multilateral bank regulation towards emerging markets. Identifies its limitations as well as those of transborder mutual recognition agreements and the international credit insurance scheme. Examines the prospects for establishing a binding set of rules for international investment, with logical consequences for both global capial taxation and international debt write-off as the basis for a long-term solution.
Global capital market volatility and the developing countries : lessons from the East Asian crisis - 1999
Addresses the global causes of emerging market volatility, its local consequences, and the failure of international financial institutions, such as the IMF, to contain it. Discusses the attempts to extend multilateral bank regulation towards emerging markets. Identifies its limitations as well as those of transborder mutual recognition agreements and the international credit insurance scheme. Examines the prospects for establishing a binding set of rules for international investment, with logical consequences for both global capial taxation and international debt write-off as the basis for a long-term solution.