Financial Stability, Economic Growth, and the Role of LawFinancial crises have become an all too common occurrence over the past twenty years, largely as a result of changes in finance brought about by increasing internationalization and integration. As domestic financial systems and economies have become more interlinked, weaknesses can significantly impact not only individual economies but also markets, financial intermediaries, and economies around the world. This volume addresses the twin objectives of financial development in the context of financial stability and the role of law in supporting both. Financial stability (frequently seen as the avoidance of financial crisis) has become an objective of both the international financial architecture and individual economies and central banks. At the same time, financial development is now seen to play an important role in economic growth. In both financial stability and financial development, law and related institutions have a central role. |
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Financial Stability, Economic Growth, and the Role of Law Douglas W. Arner No preview available - 2007 |
Financial Stability, Economic Growth, and the Role of Law Douglas W. Arner No preview available - 2007 |
Financial Stability, Economic Growth, and the Role of Law Douglas W. Arner No preview available - 2007 |
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accounting standards addition appropriate areas Assessment assets auditing Basel Committee Basel II Bretton Woods Bretton Woods system capital markets central bank Chapter cial companies company law context Core Principles corporate governance countries creditors crisis cross-border currency debt deposit insurance developed economies disclosure discussed domestic economic development economic growth effective emerging economies enforcement financial crises financial development financial intermediaries financial markets financial regulation financial services financial stability focus foreign framework FSAP functioning Fund global IMF and World implementation important infrastructure insolvency international financial architecture international standards investment investors IOSCO issues key standard liquidity macroeconomic market economy ment Mexican Mexico monetary moral hazard OECD payment system pension property rights prudential regulation and supervision regulatory requirements risk role rule of law securities markets securitization significant South Korea sovereign structure supervisory systemic risk tion trade transition economies transparency World Bank
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Page 18 - Institutions are the rules of the game in a society or, more formally, are the humanly devised constraints that shape human interaction.
Page 15 - International Monetary Fund (IMF) and the International Bank for Reconstruction and Development (IBRD) - commonly known as the World Bank - in 1952.
Page 17 - Efficient economic organization is the key to growth; the development of an efficient economic organization in Western Europe accounts for the rise of the West. Efficient organization entails the establishment of institutional arrangements and property rights that create an incentive to channel individual economic effort into activities that bring the private rate of return close to the social rate of...