Taming Global Financial Flows: Challenges and Alternatives in the Era of Financial Globalisation: A Citizen's Guide - Softcover

Kavaljit Singh

Softcover

ISBN 10: 1856497844 ISBN 13: 9781856497848

Publisher: Zed Books Ltd, 2000

Synopsis

The global financial system, this book argues, is in serious trouble. Public figures as diverse as George Soros and the British Chancellor of the Exchequer have been calling for reform. Financial liberalization has created an absence of effective regulation over the almost unimaginable sums involved in currency speculations, new financial products, offshore financial centres, secretive hedge funds and shifts of 'hot money' to emerging markets. The result is a degree of volatility in financial markets which threatens the orderly running of national economies. The issues of financial globalization and the need to regulate global capital flows have, as a result, moved centre stage. This book explains and analyses the constantly changing and complex world of global financial flows, and calls for radical reforms in a system that is now more susceptible to the whims of market sentiment than the economic policies of governments. The author recommends certain guiding principles in order to create a more stable international financial architecture and proposes a series of concrete measures. This most timely and useful follow-up to his very successful previous book, The Globalization of Finance: A Citizen's Guide, contributes greatly to public understanding of what is involved and to the possibilities of effective action by people's movements campaigning for a more just and sound financial system. Written in a non-technical manner, this book makes the ongoing debates accessible to the non-specialist reader. It will be particularly useful for students of finance, banking and development, as well as for all those interested in issues relating to global financial regulation.

About this title

Review:

'We can always count on Kavaljit Singh for lucid and hard-hitting analysis. This book is no exception.' Susan George, author and associate director of the Transnational Institute (TNI), Amsterdam. 'Kavaljit Singh has made a difficult subject intelligible to ordinary citizens, and in a very readable way he has mapped out the progressive alternatives for bringing international finance under democratic control.' Edward S Herman, University of Pennsylvania 'Singh is to be congratulated... an up-to-date critical assessment of financial globalization.' David Felix, Washington University in St. Louis 'Should be made compulsory reading for finance ministers, central bankers, economic policy makers... learned international experts.' Arun Ghosh, economist and former member of the Planning Commission, India 'Taming Global Financial Flows is a must read for anyone concerned about globalization or poverty eradication...Singh succeeded in melding academic rigor with accessible language.' Jo Marie Griesgraber, director of the Rethinking Bretton Woods Project

From the Publisher:

Taming Global Financial Flows
'We can always count on Kavaljit Singh for lucid and hard-hitting analysis. This book is no exception.' - Susan George, Well Known Author and Associate Director, Transnational Institute (TNI), Amsterdam.

'Kavaljit Singh has made a difficult subject intelligible to ordinary citizens, and in a very readable way he has mapped out the progressive alternatives for bringing international finance under democratic control.' - Edward S Herman, Emeritus Professor of Finance, Wharton School, University of Pennsylvania, US.

'Singh is to be congratulated... an up-to-date critical assessment of financial globalization.' - David Felix, Emeritus Professor of Economics, Washington University in St. Louis, US.

'[This book] should be made compulsory reading for finance ministers, central bankers, economic policy makers... learned international experts.' - Arun Ghosh, Eminent Economist and former member, Planning Commission, India.

'Taming Global Financial Flows is a must read for anyone concerned about globalization or poverty eradication...Singh succeeded in melding academic rigor with accessible language.' - Jo Marie Griesgraber, Director, Rethinking Bretton Woods Project Center of Concern, US.

Contents

1. Recent Trends in Global Financial Flows 2. Financial Liberalization and Financial Fragility 3. Capital Account Liberalization: Part of Solution or Problem? 4. The Mysterious World of Hedge Funds 5. The Global Parasites: Offshore Financial Centers 6. Capital Controls: An Idea Whose Time Has Returned 7. Managing Capital Inflows: The Case of Chile 8. Whither Global Financial Architecture? 9. Financial Globalization: New Challenges for Peoples' Movements Notes and References Bibliography Index

About this edition

• Publisher: Zed Books Ltd
• Publication date: 2000
• ISBN 10: 1856497844
• ISBN 13: 9781856497848
• Binding: Paperback
• Edition number: 1
• Number of pages: 240