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New Global Economic Architecture

Editor

Listed:
  • Masahiro Kawai
  • Peter J. Morgan
  • Pradumna B. Rana

Abstract

The global financial crisis of 2007-2009 exposed flaws and shortcomings in the global economic architecture, and has sparked an international debate about possible remedies for them. The postwar global architecture was essentially guided by the major developed economies, and was centered around the IMF, the GATT – the predecessor of the WTO – and the World Bank. Today, however, the balance of economic and financial power is shifting toward the emerging economies, especially those in Asia, and both global governance and economic policy thinking are beginning to reflect this shift. This book addresses the important question of how a regional architecture, particularly one in Asia, can induce a supply of regional public goods that can complement and strengthen the global public goods supplied through the global architecture. These public goods include institutions to help maintain financial stability, support more open trading regimes and promote sustainable economic development.

Individual chapters are listed in the "Chapters" tab

Suggested Citation

  • Masahiro Kawai & Peter J. Morgan & Pradumna B. Rana (ed.), 2014. "New Global Economic Architecture," Books, Edward Elgar Publishing, number 15654.
  • Handle: RePEc:elg:eebook:15654
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    References listed on IDEAS

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    1. Caf, . "Latin America 2040," Books, CAF Development Bank Of Latinamerica, number 497.
    2. Francisco Sagasti & Keith Bezanson & Fernando Prada, 2005. "The Future of Development Financing," Palgrave Macmillan Books, Palgrave Macmillan, number 978-0-230-50519-3, October.
    3. Prada, Fernando & Sagasti, Francisco R., 2006. "Regional development banks: a comparative perspective," Copublicaciones, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL), number 1924.
    4. -, 2006. "Regional financial cooperation," Copublicaciones, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL), number 1922 edited by Eclac.
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    Citations

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    Cited by:

    1. Kawai, Masahiro, 2015. "From the Chiang Mai Initiative to an Asian Monetary Fund," ADBI Working Papers 527, Asian Development Bank Institute.
    2. Xianbai Ji, 2017. "Promoting regional development bank complementarity: challenges to Asia and lessons from Europe," Asia Europe Journal, Springer, vol. 15(3), pages 261-281, September.
    3. Laurissa Mühlich & Barbara Fritz, 2021. "Borrowing Patterns in the Global Financial Safety Net: Does Governance Play a Role?," Global Policy, London School of Economics and Political Science, vol. 12(S4), pages 47-68, May.
    4. Peter J. Morgan, 2020. "A Framework for Regional Banking Regulation in ASEAN," Asian Economic Papers, MIT Press, vol. 19(3), pages 111-125, Fall.

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    Book Chapters

    The following chapters of this book are listed in IDEAS

    More about this item

    Keywords

    Asian Studies; Economics and Finance;

    JEL classification:

    • G0 - Financial Economics - - General

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