Title Financial Crisis and Global Imbalances: A Development Perspective
Book Condition New
Jacket Condition New
Publisher New Delhi, India Orient BlackSwan 2012
812504793X / 9788125047933
Seller ID 101815
Financial Crisis and Global Imbalances examinesfrom a standpoint of promoting stability and growth in developing countrieskey policy lessons to be drawn from the devastating global economic crisis of 200809. The crisis has exposed deep faultlines in the world economy which increase its susceptibility to instability and crises. A major overhaul of the international financial system is needed in order to reduce the likelihood of virulent crises and manage them better if they do occur. This calls for, among others, fundamental reforms to establish multilateral discipline over monetary and financial policies in systemically important countries, to bring systematically important financial institutions and cross-border capital flows under control, and to involve the private sector in crisis revolution.Reducing the likelihood of future turmoil also requires that the gap in demand between surplus and deficit countries be bridged, and the skewed income distribution between capital and labour rebalanced.Printed Pages: 216.
Financial Crisis and Global Imbalances: A Development Perspective Yilmaz Akyüz