Perspectives for development friendly financial markets - No one-size fits all approach!

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    Abstract

    The paper argues against the usual "one size fits all" approach of the IFIs that all economies must follow the same financial policy. It is necessary to take into consideration a contextual and historical approach in order to enable more considerations  for different local political, economic and cultural circumstances. It was furthermore noted that the current deep crisis of the IFIs is associated with both lack of legitimacy and loss of liquidity. Following this the Brettonwoods institutions must either be reformed or abolished
    Original languageEnglish
    Publication date2007
    Number of pages11
    Publication statusPublished - 2007
    EventMaking Financial Markets work for Development. 10 Years after the Financial Crisis - Lessons learnt? - Wien, Austria
    Duration: 18 Sept 200718 Sept 2007

    Conference

    ConferenceMaking Financial Markets work for Development. 10 Years after the Financial Crisis - Lessons learnt?
    Country/TerritoryAustria
    CityWien
    Period18/09/200718/09/2007

    Keywords

    • financial crisis
    • social welfare
    • labor market
    • informalization
    • Korea
    • Thailand

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