| World Capital Markets: Challenge to the G-10 Contributor(s): Dobson, Wendy (Author), Hufbauer, Gary Clyde (Author) |
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ISBN: 0881323012 ISBN-13: 9780881323016 Publisher: Peterson Institute for International Economic OUR PRICE: $24.75 Product Type: Paperback Published: May 2001 Annotation: A major debate now raging in capital markets is on whether private bankers and investment managers bear the greater share of the costs when financial crises erupt in emerging economies. The authors argue that financial leaders of the G-10 nations should take a more vigilant stance, analyze the implications of changing the rules of the game, and recommend specific policy measures. |
| Additional Information |
| BISAC Categories: - Business & Economics | Finance - General - Business & Economics | International - Economics - Business & Economics | Economics - Comparative |
| Dewey: 332.042 |
| LCCN: 00054019 |
| Physical Information: 0.56" H x 6.05" W x 9.01" (0.82 lbs) 276 pages |
| Descriptions, Reviews, Etc. |
| Publisher Description: It is often pointed out that "for every bad borrower, and for every failed project, there is also a culpable lender or investor." This observation is particularly apt for the debate now raging in the capital markets: should private bankers and investment managers bear a greater share of the costs when financial crises erupt in emerging economies? Critics who have analyzed the "plumbing" of the world's financial architecture have thus far devoted enormous attention to the demand side--structural weaknesses in emerging markets. They have excoriated the IMF for ineptitude and policy mistakes. But the authors of this study argue that financial leaders of the G-10 nations (industrial nations that were hardly affected by the crises of 1997-98) owe a responsibility--both to their own citizens and the emerging markets--to take a far more vigilant stance. Dobson and Hufbauer criticize the supply side of world capital markets and ask how G-10 capital suppliers can reform their own financial systems to make the world safe for large-scale international capital flows. They draw a comprehensive picture of international finance through an extensive review of capital flows, the major financial players behind these flows, and the balance between costs and benefits of international capital movements. The authors analyze the implications of changing the rules of the game and recommend specific policy measures. |