International Financial System

The papers from that conference are collected in this volume, with contributions from an international array of government officials, regulators, industry practitioners and academics.

After the crisis in emerging market economies in the mid-late 1990s, the adoption of internationally recognised standards, or codes of good practice, was seen as a way to help strengthen the international financial system. This volume examines whether the standards and codes exercise can make a meaningful contribution to global financial stability and examines the developing country perspective. It takes the first steps in answering some of the open questions in the field.

This book aims to explore stability in an international financial system using disequilibrium theory. It examines historical cases of both instability and stability and reviews price-disequilibrium theory to construct a theoretical model for a stable international financial system.