Author: Kavaljit Singh
Publisher: Zed Books
Year: 2000
Language: English
Pages: 237
ISBN/UPC (if available): 1856497844
Description
The global financial system, this book argues, is in turmoil, Financial liberalization has led to phasing out of regulatory mechanisms over the movement of huge sums involved in currency speculations, new financial products, offshore financial centers, secretive hedge funds and hot money flows to emerging markets. The result is a degree of volatility in financial markets which threatens the orderly running of national economies. 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 enunciates certain guiding principles in order to create a more stable international financial architecture and recommends 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 the intricacies of global finance and to the possibilities of effective action by peoples movements campaigning for a more just and sound financial system.
REVIEWS
We can always count on Kavaljit Singh for lucid and hard-hitting analysis. This book is no exception.
-Susan George
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 Herman
Singh is to be congratulated…an up-to-date critical assessment of financial globalization.
-David Felix
Should be made compulsory reading for finance ministers, central bankers, economic policy makers…learned international experts.
-Arun Ghosh
Contents
ACRONYMS
DATA NOTES
ACKNOWLEDGEMENTS
PREFACE
Recent Trends in Global Financial Flows
Financial Liberalization and Financial Fragility
Capital Account Liberalization: Benefactor or Menace?
The Mysterious World of Hedge Funds
The Global Parasites: Offshore Financial Centers
Capital Controls: An Idea Whose Time Has Returned
Managing Capital Flows: The Case of Chile
Whither International Financial Architecture
Financial Globalization-New Challenges for Peoples’ Movements
BIBLIOGRAPHY
INDEX