Friday, 26 April 2013
The international financial crises that have swept through the global economy over the past twenty years reflect a fundamental change in the system: financial integration has linked economies to an extent that is possibly matched only by the remarkable degree of integration achieved under the gold standard of the late 19th century. Of course, that earlier period of integration, or "globalization," foundered on the shoals of post-war adjustment burdens, dysfunctional international monetary arrangements, and the retreat from trade openness.
Sunday, 21 April 2013
“Hard [fiscal] targets lead to silly decisions,” says CIGI Senior Fellow Susan Schadler, commenting on the legacy of the debt and deficit targets the G20 laid out in 2010.
Thursday, 18 April 2013
A CentralBanking.com feature cites a recent CIGI policy brief, on the IMF and FSB's early warning exercise: "One of the report's key recommendations was that the FSB should establish a liaison office in Washington, DC – the location of the IMF headquarters – to help improve co-ordination and limit "the animosity that appears to have developed between the two organizations.' "
Wednesday, 17 April 2013
At the IMF World Bank Spring meetings, there are plenty of concerned faces in the rooms of policymakers, analysts and global economic experts. It is usually hard to find a happy smiling bunch of economists and financial analysts, so this may be a selection bias. Nevertheless, what are the issues on the table at the IMF meetings? Well, it is still hot money.
Tuesday, 16 April 2013
During the recent global financial crisis, regulators, politicians and high-profile media coverage blamed short sellers for amplifying stock market downturns. Regulatory authorities in a number of countries imposed short-sale constraints aimed at preventing excessive stock market declines.
Bans on short sellers may amplify market downturns rather than enhance stability, CIGI-sponsored researchers find
Tuesday, 16 April 2013
Bans on short selling do not contribute to enhancing financial stability and can even amplify positive feedback trading during periods of high volatility. These are the main findings on a new paper from The Centre for International Governance Innovation (CIGI).
Friday, 12 April 2013
The International Monetary Fund (IMF) and Financial Stability Board’s (FSB) need significantly improved coordination to effectively identify and flag potential crises in the global economy. This is the conclusion of new policy brief from The Centre for International Governance Innovation (CIGI) and the Balsillie School of International Affairs (BSIA).
Thursday, 11 April 2013
Over the past month, a number of commentators have opined on the implications of the Cyprus situation on the euro. The decision to impose capital controls, they contend, however necessary to prevent the flight of deposits from troubled banks, represents a de facto exit from the euro zone. After all, a euro in Cyprus does not have the same command over resources as a euro in any other member of the eurozone.
Wednesday, 3 April 2013
Jason Thistlethwaite, Director of the Climate Change Adaptation Project at the University of Waterloo, joins podcast host and CIGI Chair of Global Security David Welch for a discussion on the relationship between financial risk and climate change.
Tuesday, 2 April 2013
The goal of this project is to address these issues related to to China’s transition to world currency status and contribute to the public policy discussions and debates with particular attention on the implications for the functioning of the International Monetary System.