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Reform of the Global Financial Architecture

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  • Garry Schinasi

Abstract

This paper examines the implications of the global financialcrisis of 2007-10 for reform of the global financial architecture and identifies institutional and substantive reforms by organizations such as the IMF and Financial Stability Board. The publication was prepared for a conference sponsored by Bruegel and the Peterson Institute for International Economics (8 October 2010), as part of a project sponsored by the European Commission.

Suggested Citation

  • Garry Schinasi, 2010. "Reform of the Global Financial Architecture," Bruegel Working Papers 444, Bruegel.
    • Handle: RePEc:bre:wpaper:444
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    References listed on IDEAS

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    1. Nicolas Veron & Stephane Rottier, 2010. "Not All Financial Regulation Is Global," Policy Briefs PB10-22, Peterson Institute for International Economics.
    2. Garry Schinasi, 2009. "More Than One Step to Financial Stability," Bruegel Policy Brief 341, Bruegel.
    3. Patrick McGuire & Goetz von Peter, 2012. "The Dollar Shortage in Global Banking and the International Policy Response," International Finance, Wiley Blackwell, vol. 15(2), pages 155-178, June.
    4. Edwin M. Truman, 2010. "The G-20 and International Financial Institution Governance," Working Paper Series WP10-13, Peterson Institute for International Economics.
    5. Herrmann, Sabine & Mihaljek, Dubravko, 2010. "The determinants of cross-border bank flows to emerging markets: New empirical evidence on the spread of financial crises," Discussion Paper Series 1: Economic Studies 2010,17, Deutsche Bundesbank.
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    7. Jacopo Carmassi & Daniel Gros & Stefano Micossi, 2009. "The Global Financial Crisis: Causes and Cures," Journal of Common Market Studies, Wiley Blackwell, vol. 47(5), pages 977-996, November.
    8. Mr. Gian M Milesi-Ferretti & Mr. Olivier J Blanchard, 2009. "Global Imbalances: In Midstream?," IMF Staff Position Notes 2009/029, International Monetary Fund.
    9. Edwin M. Truman, 2008. "On What Terms Is the IMF Worth Funding?," Working Paper Series WP08-11, Peterson Institute for International Economics.
    10. repec:bla:jcmkts:v:47:y:2009:i::p:977-996 is not listed on IDEAS
    11. Gary Gorton, 2008. "The panic of 2007," Proceedings - Economic Policy Symposium - Jackson Hole, Federal Reserve Bank of Kansas City, pages 131-262.
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    14. Edwin M. Truman, 2006. "Strategy for IMF Reform, A," Peterson Institute Press: All Books, Peterson Institute for International Economics, number pa77, April.
    15. Francesco Giavazzi & Alberto Giovannini, 2010. "Central Banks and the Financial System," NBER Working Papers 16228, National Bureau of Economic Research, Inc.
    16. Aerdt Houben & Jan Kakes & Garry Schinasi, 2004. "Towards a framework for financial stability," DNB Occasional Studies 201, Netherlands Central Bank, Research Department.
    17. Patrick McGuire & Goetz von Peter, 2009. "The US dollar shortage in global banking," BIS Quarterly Review, Bank for International Settlements, March.
    18. Gian M Milesi-Ferretti & Olivier J Blanchard, 2009. "Global Imbalances; In Midstream?," IMF Staff Position Notes 2009/29, International Monetary Fund.
    19. Samuel G. Hanson & Anil K. Kashyap & Jeremy C. Stein, 2011. "A Macroprudential Approach to Financial Regulation," Journal of Economic Perspectives, American Economic Association, vol. 25(1), pages 3-28, Winter.
    20. James B. Thomson, 2009. "On systemically important financial institutions and progressive systemic mitigation," Policy Discussion Papers, Federal Reserve Bank of Cleveland, issue Aug.
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    Cited by:

    1. Dungey, Mardi & Jacobs, Jan P.A.M. & Lestano,, 2015. "The internationalisation of financial crises: Banking and currency crises 1883–2008," The North American Journal of Economics and Finance, Elsevier, vol. 32(C), pages 29-47.
    2. Mario Lamberte & Peter J. Morgan, 2012. "Regional and Global Monetary Cooperation," Finance Working Papers 23190, East Asian Bureau of Economic Research.
    3. Ana Vlahović, 2014. "Challenges to the Implementation of a New Framework for Safeguarding Financial Stability," Journal of Central Banking Theory and Practice, Central bank of Montenegro, vol. 3(3), pages 19-52.
    4. Casselmann, Farina, 2013. "Financial services regulation in the wake of the crisis: The Capital Requirements Directive IV and the Capital Requirements Regulation," IPE Working Papers 18/2013, Berlin School of Economics and Law, Institute for International Political Economy (IPE).

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    More about this item

    JEL classification:

    • F30 - International Economics - - International Finance - - - General
    • F33 - International Economics - - International Finance - - - International Monetary Arrangements and Institutions
    • F36 - International Economics - - International Finance - - - Financial Aspects of Economic Integration
    • F53 - International Economics - - International Relations, National Security, and International Political Economy - - - International Agreements and Observance; International Organizations
    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation

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