The World Economy after the Global Crisis : a New Economic Order for the 21st Century / edited by Barry Eichengreen & Bokyeong Park.

Includes bibliographical references and index.

The global credit crisis of 2008-2009 was the most serious shock to the world economy in fully 80 years. It was for the world as a whole what the Asian crisis of 1997-1998 was for emerging markets: a profoundly alarming wake-up call. By laying bare the fragility of global markets, it raised troubling questions about the operation of our deeply integrated world economy. It cast doubt on the efficacy of the dominant mode of light-touch financial regulation and more generally on the efficacy of the prevailing commitment to economic and financial liberalization. It challenged the managerial capaci.

Contributors; Chapter 1. Introduction; Chapter 2. Financial Reform after the Crisis; 1 Introduction; 2 The Dynamics of Financial Reform; 2.1 The G20; 2.2 The IMF and the FSB; 2.3 Individual jurisdictions; 2.4 Crisis-induced shifts; 3 Challenges and Outlook; 3.1 Ongoing crisis management; 3.2 Macroprudential approaches; 3.3 Regulating multinational financial firms; 3.4 Consistent implementation of global standards; 3.5 Financial systems and growth; References; Chapter 3. Did WTO Rules Restrain Protectionism During the Recent Systemic Crisis?; 1 Introduction.

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