Post-Crisis Financial Regulation at Inter-State Level


L. Khudyakova, Institute of World Economy and International Relations, Russian Academy of Sciences (IMEMO RAN), 23, Profsoyuznaya Str., Moscow, 117997, Russian Federation (


Abstract. The main result of the 2008–2009 financial and economic crisis was a perception of necessity for a change in the financial regulation paradigm itself, and for development of a new integrated approach to financial stability maintenance, including the macroprudential oversight stregthening and coordination between financial, monetary and macroeconomic regulators. One of the key experiences gained from the crisis consisted in understanding that events at a national level may have serious global consequences. The crisis demonstrated that amid the increase of interdependence between national economic and financial systems, the existing international financial institutions including the IMF were not able either to foresee problems in advance and suggest preventive decisions, or even to assure the required national measures coordination in order to avoid the range of bank collapses that shook the world economy in 2008–2009. Within this framework the need for more close and effective international cooperation in the field of financial regulation, strengthening and reforming of the functioning international financial structures became evident. 

Keywords: world crisis, interstate financial regulation, IMF, G-20, Financial Stability Board, standart-setting organizations, OECD, World Financial Organization

Registered in System SCIENCE INDEX

For citation:
Khudyakova L. Post-Crisis Financial Regulation at Inter-State Level. World Eonomy and International Relations, 2013, No 1, pp. 3-14

Comments (0)

No comments

Add comment






Current Issue
2023, vol. 67, No. 3
Topical Themes of the Issue:
  • Tax Instruments to Stimulate Innovations in EU Countries 
  • Russia and Western Balkans: Realized and Missed Opportunities in Trade
  • Spanish Society: Stable Instability 
  • ASEAN and the Myanmar Dilemma 
  • Greater Middle East
Submit an Article
The Editorial Board invites authors to write analytical articles on the following topics:
  • changes in the processes of globalization in modern conditions
  • formation of the new world order
  • shifts in civilization at the stage of transition to a digital society

The editors are also interested in publishing synthesis articles / scientific reviews revealing the main trends in the development of certain regions of the world - Latin America, Africa, South Asia, etc.