Financial Crisis and Global Imbalances: A Development Perspective

By: Yilmaz Akyüz

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Financial Crisis and Global Imbalances examines—from a standpoint of promoting stability and growth in developing countries—key policy lessons to be drawn from the devastating global economic crisis of 2008–09. 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.

Title: Financial Crisis and Global Imbalances: A Development Perspective

Author Name: Yilmaz Akyüz

Categories: India, Economics, Development,

Publisher: New Delhi, India, Orient BlackSwan: 2012

ISBN: 812504793X

ISBN 13: 9788125047933

Binding: Hardcover

Book Condition: New

Jacket Condition: New

Seller ID: 101815

Keywords: Financial Crisis and Global Imbalances: A Development Perspective Yilmaz Akyüz