| Description |
1 online resource (xiv, 215 pages) : illustrations |
| Series |
World scientific studies in international economics, 1793-3641 ; v. 19 |
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World Scientific studies in international economics ; v. 19
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| Contents |
Ch. 1. Introduction -- ch. 2. Financial reform after the crisis. 1. Introduction. 2. The dynamics of financial reform. 3. Challenges and outlook -- ch. 3. Did WTO rules restrain protectionism during the recent systemic crisis? 1. Introduction. 2. Twenty-first century protectionism during a systemic financial crisis: some preliminary considerations. 3. The resort to discrimination against foreign commercial interests since the first crisis-era G20 summit in November 2008. 4. An assessment of the impact of WTO rules during the recent systemic crisis. 5. Concluding remarks -- ch. 4. The international monetary system after the financial crisis. 1. The global reserve system. 2. The emergency provision of liquidity. 3. Regulating capital flows. 4. The role of the IMF. 5. Conclusion -- ch. 5. The group of 20: trials of global governance in times of crisis. 1. Benefits from international coordination: reviewing the arguments. 2. A narrative of the G20 in times of crisis. 3. Scoreboards of success. 4. Taking stock and looking forward -- ch. 6. Emerging markets in the aftermath of the global financial crisis. 1. Introduction. 2. Rising prominence of EMEs. 3. The distribution of world growth. 4. What explains the resilience of emerging markets? 5. Global public debt and implications for the growth gap. 6. Risks. 7. Concluding remarks -- ch. 7. Challenges for emerging Asia. 1. Introduction: Asia's recovery from the global financial crisis. 2. Transition from exports to domestic demand. 3. Killing the inflation dragon. 4. Risk of the middle income trap. 5. The rise of China and the future of regional cooperation. 6. Conclusion -- ch. 8. Long-term challenges for the advanced economies: reducing government debt. 1. Introduction. 2. Projected paths of government debt. 3. The burden of debt and fiscal limits. 4. Paths to safety. 5. Conclusion |
| Summary |
The global credit crisis of 2008-2009 was the most serious shock to the world economy in fully 80 years. It was for the world as a whole what the Asian crisis of 1997-1998 was for emerging markets: a profoundly alarming wake-up call. By laying bare the fragility of global markets, it raised troubling questions about the operation of our deeply integrated world economy. It cast doubt on the efficacy of the dominant mode of light-touch financial regulation and more generally on the efficacy of the prevailing commitment to economic and financial liberalization. It challenged the managerial capacity of inherited institutions of global governance. And it augured a changing of the guard, pointing to the possibility that the economies that had been the leaders in the "global growth stakes" in the past might no longer be the leaders in the future. What the crisis means for reform, however, is still unclear. This book brings together leading scholars and policy analysts to describe and weigh the options. Successive chapters assess options for the global financial system, the global trading system, the international monetary system, and the Group of 20 and global governance. A final set of chapters contemplates the policy challenges for emerging markets and the advanced economies in the wake of the financial crisis |
| Bibliography |
Includes bibliographical references and index |
| Subject |
Economic history -- 21st century.
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Global Financial Crisis, 2008-2009.
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| Form |
Electronic book
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| Author |
Eichengreen, Barry J.
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Pak, Pog-yŏng.
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World Scientific (Firm)
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| ISBN |
9789814383042 (electronic bk.) |
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981438304X (electronic bk.) |
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