Global Financial Governance Confronts the Rising Powers: Emerging Perspectives on the New G20

April 14, 2016

Global Financial Governance Confronts the Rising Powers addresses the challenge that the rising powers pose for global governance, substantively and institutionally, in the domain of financial and macroeconomic cooperation. It examines the issues that are before the G20 that are of particular concern to these newly influential countries and how international financial institutions and financial standard-setting bodies have responded. With authors who are mainly from the large emerging market countries, the book presents rising power perspectives on financial policies and governance that should be of keen interest to advanced countries, established and evolving institutions, and the G20.

Table of Contents

Barry Eichengreen and Miles Kahler

Introduction and Overview: Global Governance and the Changing Structure of International Finance
C. Randall Henning and Andrew Walter

Part I: Financial Spillovers and Capital Flow Management

Capital Flows and Capital Account Management in Selected Asian Countries
Rajeswari Sengupta and Abhijit Sen Gupta

Capital Flows and Spillovers
Şebnem Kalemli-Özcan

Capital Controls and Implications for Surveillance and Coordination: Brazil and Latin America
Márcio Garcia

Part II: Currencies and Liquidity

The Global Liquidity Safety Net: Precautionary Facilities and Central Bank Swaps
C. Randall Henning

Internationalization of the Renminbi: Developments, Problems and Influences
Ming Zhang 

Part III: International Financial Regulation

Emerging Countries and Basel III:  Why Is Engagement Still Low?
Andrew Walter

International Financial Standards and Emerging Economies since the Global Financial Crisis
Hyoung-kyu Chey

Financial Structure, Regulation and Inclusion: An Empirical Study across Developing Economies 
Mariana Magaldi de Sousa

Part IV: Emerging Country Experience with Regulation

International Cooperation on the Resolution of Financial Institutions: Where Does India Stand
Renuka Sané

Brazil’s Implementation of Basel’s Regulatory Consistency Assessment Program
Fernanda Martins Bandeira

Shadow Banking in China and International Regulatory Cooperation
Zheng Liansheng

About the Editor

C. Randall Henning is professor of international economic relations in the School of International Service at American University in Washington, DC.

Andrew Walter is professor of international relations in the School of Social and Political Sciences at the University of Melbourne and a senior fellow in the Melbourne School of Government.