TITLE

Global Financial Governance: Whose Ownership?

AUTHOR(S)
Askari, Hossein
PUB. DATE
April 2004
SOURCE
Business Economics;Apr2004, Vol. 39 Issue 2, p57
SOURCE TYPE
Academic Journal
DOC. TYPE
Article
ABSTRACT
Over the past two decades, many changes that have taken place in international financial markets have had an important impact on developing countries. Because of increased global integration, what happens to developing countries is increasingly important to business in all countries. This paper discusses the role of the International Monetary Fund and the World Bank in dealing with the consequences of these changes and attempting to make new rules for the governance of the international financial system. It also discusses the current role of developing countries in the governance structure of the international financial system and the need for their stronger participation. In the end, the IMF and the World Bank will not be credible if they preach good governance and transparency to developing country members while shunning the same advice for themselves. Industrial countries' private sector financial institutions in particular, and their internationally focused firms in general, have an important stake in good governance of the IMF and the World Bank. Their own rapidly growing international activities will prosper only if the governance of these two international institutions is sound, equitable, and thus engages all member countries, including those from the developing world.
ACCESSION #
13194434

 

Share

Read the Article

Courtesy of THE LIBRARY OF VIRGINIA

Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics