"Turbulent Waters: Cross-Border Finance and International Governance advocates faster progress in reforming the international financial system. Its most important theme is the need for national governments and international organizations to upgrade their collective efforts at crisis prevention and prosperity management. The core of such efforts is the supranational surveillance of cross-border ""traffic regulations"" and the cooperative monitoring of nations' macroeconomic, exchange rate, and balance-of-payments policies. Concurrently, governments should streamline and strengthen the intermediation of intergovernmental lending for the liability financing of payments deficits through the International Monetary Fund. This essay gives detailed analysis supporting these conclusions and provides more technical discussion of the incremental policy measures needed to strengthen these collective efforts.
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- ISBN10 081570867X
- ISBN13 9780815708674
- Publish Date 17 December 2004 (first published 1 September 2004)
- Publish Status Active
- Publish Country US
- Imprint Brookings Institution
- Format Paperback
- Pages 180
- Language English