The Financial Stability Board and International Standards
The basic structure and mandate of the Financial Stability Board build directly on those of its predecessor, the Financial Stability Forum (FSF). In this paper, CIGI Chair Eric Helleiner examines whether the FSB will be able to strengthen international prudential standards in the way that the FSF could not and establish a strong foundation for international regulatory cooperation.
The Financial Stability Board: An Effective Fourth Pillar of Global Economic Governance?
One of the G20’s most significant institutional innovations has been the creation of the Financial Stability Board (FSB), a new institution that some see as a potential fourth pillar of global economic governance alongside the IMF, World Bank and WTO. In a special report written with international partners, leading experts examine the challenges facing the FSB if it is to live up to expectations and help avert future global financial crises like the one in 2008-2009.
G20 Faces its Most Difficult Test Yet on Financial Reform
International financial regulation has been a central topic at G20 summits since the global financial crisis led to the establishment of the leaders’ group 18 months ago. Although the Financial Stability Board was created and other steps have been taken towards regulatory reform, the G20 has yet to tackle some of the most difficult aspects, which relate mostly to macroprudential regulation. The Toronto and Korean G20 meetings in 2010 will be decisive in this respect. Success will require strong political leadership at the leaders’ level.
Global Finance in Crisis
Global Finance in Crisis, a groundbreaking, edited volume, offers the first systematic analysis of the international regulatory response to the current global financial crisis. From the vantage point of key global financial powers, leading scholars examine current regulatory developments in international finance.
The Future of the International Monetary Fund: A Canadian Perspective
The CIGI/CIC Special Report on the future of the International Monetary Fund looks at the IMF’s role in the context of the global economic crisis and the new economic and financial governance architecture that is emerging. The report makes recommendations regarding the IMF’s role in the international financial system, governance of the IMF, and IMF functional reforms.
Environmental Sustainability and the Financial Crisis: Linkages and Policy Recommendations
As the global economic crisis and nascent recovery continue to unfold, it is important not to lose sight of the environment amid fiscal stimulus efforts and economic reorientation. Economic prosperity cannot be pursued at the expense of environmental sustainability. Long-term economic prosperity requires a strong and healthy ecosystem at its base. This publication highlights unique challenges and opportunities for policy makers in the face of the current economic crisis.
The Future of the Dollar
What is the future of the US dollar as an international currency? Will predictions of its demise prove just as inaccurate as those that have accompanied major international financial crises since the early 1970s? Analysts disagree, often profoundly, in their answers to these questions. In The Future of the Dollar, leading scholars of the dollar's international role bring multidisciplinary perspectives and a range of contrasting predictions to the question of the dollar's future. This timely book provides readers with a clear sense of why such disagreements exist and outlines a variety of future scenarios and possible political implications for the United States and the world.
From London to L’Aquila: Building a Bridge between the G20 and the G8
From many perspectives, the London Summit of the G20 leaders at the beginning of April 2009 was a success – with discussion framed around crisis resolution and the strengthening of the international financial architecture. Beyond its concrete achievements, the Summit morphed into an ongoing process with a rolling agenda, rather than remaining a one-off event. While the Italian Presidency of the G8 has a hard task ahead, there is scope for building a meaningful bridge between London and the G8 meeting in L’Aquila in July 2009, continuing and strengthening the economic governance reform process.
The G20 Leaders' Summit and the Regulation of Global Finance: What was Accomplished?
This web exclusive policy brief suggests that these commitments did not in fact go much beyond pre-existing international initiatives that had recently been developed in more technocratic international bodies.
Towards the G20 Summit: From Financial Crisis to International Regulatory Reform
This policy brief explains various aspects of an issue that will be at the centre of the agenda at the upcoming G20 summit in Washington: the reform of the regulation of international financial markets.