Taming Global Financial Flows: Challenges and Alternatives in the Era of Financial Globalisation: A Citizen's Guide

Taming Global Financial Flows: Challenges and Alternatives in the Era of Financial Globalisation: A Citizen's Guide

By: Kavaljit Singh (author)Paperback

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Description

The global financial system, this book argues, is in serious trouble. Public figures as diverse as George Soros and the British Chancellor of the Exchequer have been calling for reform. Financial liberalization has created an absence of effective regulation over the almost unimaginable sums involved in currency speculations, new financial products, offshore financial centres, secretive hedge funds and shifts of 'hot money' to emerging markets. The result is a degree of volatility in financial markets which threatens the orderly running of national economies. The issues of financial globalization and the need to regulate global capital flows have, as a result, moved centre stage. This book explains and analyses the constantly changing and complex world of global financial flows, and calls for radical reforms in a system that is now more susceptible to the whims of market sentiment than the economic policies of governments. The author recommends certain guiding principles in order to create a more stable international financial architecture and proposes a series of concrete measures. This most timely and useful follow-up to his very successful previous book, The Globalization of Finance: A Citizen's Guide, contributes greatly to public understanding of what is involved and to the possibilities of effective action by people's movements campaigning for a more just and sound financial system. Written in a non-technical manner, this book makes the ongoing debates accessible to the non-specialist reader. It will be particularly useful for students of finance, banking and development, as well as for all those interested in issues relating to global financial regulation.

About Author

Kavaljit Singh is Director of Public Interest Research Centre, Delhi, a policy research institute working on finance, investment and developmental issues. He is the author of highly acclaimed and widely published book, The Globalization of Finance: A Citizen's Guide (DAGA, IPSR Books, Madhyam Books and Zed Books, 1998). His latest book is Taming Global Financial Flows: Challenges and Alternatives in an Era of Financial Globalization (Hong Kong University Press, DAGA, IBON Books, Madhyam Books, University Press, White Lotus and Zed Books, 2000). He is also the founder of Madhyam Books, an independent publishing house, publishing books on contemporary issues.

Contents

1. Recent Trends in Global Financial Flows 2. Financial Liberalization and Financial Fragility 3. Capital Account Liberalization: Part of Solution or Problem? 4. The Mysterious World of Hedge Funds 5. The Global Parasites: Offshore Financial Centers 6. Capital Controls: An Idea Whose Time Has Returned 7. Managing Capital Inflows: The Case of Chile 8. Whither Global Financial Architecture? 9. Financial Globalization: New Challenges for Peoples' Movements Notes and References Bibliography Index

Product Details

  • ISBN13: 9781856497848
  • Format: Paperback
  • Number Of Pages: 240
  • ID: 9781856497848
  • ISBN10: 1856497844

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