Post-Crisis Financial Regulation at Inter-State Level

340

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

 

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







Indexed

 

 

 

 

Dear authors! Please note that in the VAK List of peer-reviewed scientific journals, in which the main scientific results of dissertations for the degree of candidate and doctor of sciences should be published for the “MEMO Journal” the following specialties are recorded:
economic sciences:
5.2.5. World Economy.
5.2.1. Economic Theory
5.2.3. Regional and Branch Economics
political sciences:
5.5.4. International Relations
5.5.1. History and Theory of Politics
5.5.2. Political Institutions, Processes, Technologies

 

Current Issue
2024, vol. 68, No. 5
Topical Themes of the Issue:
  • Are There Any Ways to Break Through the Korean Nuclear Impasse?
  • Contemporary U.S. Taiwan Policy: Balancing on the Edge
  • The Gulf Monarchies’ Vision of the Global Order Transformations and the Russian Place in It
  • At Post-Soviet Space
Submit an Article
INVITATION FOR PUBLICATION
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.