International Capital Flows and the Emerging Markets : Amending the Rules of the Game ?

  title={International Capital Flows and the Emerging Markets : Amending the Rules of the Game ?},
  author={Sebasti{\'a}n Edwards},
Recently, and partly as a result of the currency crises in emerging markets, a broad debate on reforming the international financial system has begun. Talk of a “new financial architecture” abounds, and academics, financiers, and politicians have offered blueprints for reforming existing institutions. Some have talked of creating a global lender of last resort, while others have argued that it is high time to abolish the International Monetary Fund (IMF). It is becoming increasingly apparent… CONTINUE READING


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