Chapter

Blueprints for a New Global Financial Architecture

Charles W. Calomiris

in International Financial Markets

Published by University of Chicago Press

Published in print April 2003 | ISBN: 9780226032146
Published online February 2013 | e-ISBN: 9780226032153 | DOI: http://dx.doi.org/10.7208/chicago/9780226032153.003.0008
Blueprints for a New Global Financial Architecture

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This chapter discusses the problems associated with the existing global financial architecture and proposes a set of solutions to those problems. These include reformulation of rules governing domestic bank safety-net policies, the lending policy of the International Monetary Fund (IMF), international competition in banking, and government debt management policies. These proposals are intended to replace existing lending programs including the Exchange Stabilization Fund (ESF) and ad hoc emergency lending by the World Bank and the Inter-American Development Bank. This chapter also evaluates the feasibility of implementing the proposed rules.

Keywords: global financial architecture; safety-net policies; lending policy; IMF; international competition; government debt management; lending programs; ESF; World Bank; Inter-American Development Bank

Chapter.  12300 words. 

Subjects: International Economics

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