LEADER 06288oam 22013334 450 001 9910828974303321 005 20200520144314.0 010 $a1-4623-8503-6 010 $a1-4527-8740-9 010 $a1-282-84331-1 010 $a1-4518-7263-1 010 $a9786612843310 035 $a(CKB)3170000000055266 035 $a(EBL)1608296 035 $a(SSID)ssj0000943002 035 $a(PQKBManifestationID)11479820 035 $a(PQKBTitleCode)TC0000943002 035 $a(PQKBWorkID)10975128 035 $a(PQKB)11164421 035 $a(OCoLC)645515735 035 $a(MiAaPQ)EBC1608296 035 $a(IMF)WPIEE2009116 035 $a(IMF)WPIEA2009116 035 $a(EXLCZ)993170000000055266 100 $a20020129d2009 uf 0 101 0 $aeng 135 $aurcn||||||||| 181 $ctxt 182 $cc 183 $acr 200 10$aOut of the Box Thoughts about the International Financial Architecture /$fBarry Eichengreen 205 $a1st ed. 210 1$aWashington, D.C. :$cInternational Monetary Fund,$d2009. 215 $a1 online resource (28 p.) 225 1 $aIMF Working Papers 300 $aDescription based upon print version of record. 311 $a1-4519-1693-0 320 $aIncludes bibliographical references. 327 $aContents; I. Introduction; II. Eight Out Of The Box Ideas; A. Countercyclical IMF Capital Charges; B. A Price-Based Scarce Currency Clause; C. Convertible SDRs; D. Global Glass-Steagall; E. A Global Systemic Risk Facility; F. A Multilateral Insolvency Trust for International Banks; G. A World Financial Organization; H. IMF Governance; III. Conclusion 330 3 $aThe Global Credit Crisis of 2008-09 has underscored the urgency of reforming the international financial architecture. While a number of short-term reforms are already in train, this paper contemplates more ambitious reforms of the international financial architecture that might be implemented over the next ten years. It proposes routinizing the expansion of IMF quotas and the conduct of exchange rate surveillance. It contemplates an expanded role for the SDR in international transactions, which would require someone-like the IMF-to act as market maker. It considers proposals for reimposing Glass-Steagall-like restrictions on commercial and investment banking, something that will have to be coordinated internationally to be feasible. Other proposals would require banks to purchase capital insurance; here the question is who would be on the other side of the market. Again there is likely to be a role for the IMF. Then there are arguments for a new agency or institution to deal with cross-border bank insolvencies. Any such entity will require staff support, which might plausibly come from the Fund. Finally, some insist that international colleges of regulators are not enough-that it is desirable to create a World Financial Organization (WFO) with the power to sanction members whose national regulatory policies are not up to international standards. A WFO will similarly need staff support, of which the IMF would be one possible source. All this of course presupposes meaningful IMF governance reform so that the institution has the legitimacy and efficiency to assume these additional responsibilities. The paper therefore concludes with some conventional and unconventional proposals for IMF governance reform. 410 0$aIMF Working Papers; Working Paper ;$vNo. 2009/116 606 $aInternational finance 606 $aGlobal Financial Crisis, 2008-2009 606 $aActuarial Studies$2imf 606 $aBanking$2imf 606 $aBanks and Banking$2imf 606 $aBanks and banking$2imf 606 $aBanks$2imf 606 $aBusiness and Financial$2imf 606 $aCurrencies$2imf 606 $aDepository Institutions$2imf 606 $aFinance$2imf 606 $aFinance: General$2imf 606 $aFinancial regulation and supervision$2imf 606 $aFinancial risk management$2imf 606 $aFinancial services industry$2imf 606 $aFinancial services law & regulation$2imf 606 $aGeneral Financial Markets: Government Policy and Regulation$2imf 606 $aGovernment and the Monetary System$2imf 606 $aInsurance & actuarial studies$2imf 606 $aInsurance Companies$2imf 606 $aInsurance$2imf 606 $aLaw and legislation$2imf 606 $aMicro Finance Institutions$2imf 606 $aMonetary economics$2imf 606 $aMonetary Systems$2imf 606 $aMoney and Monetary Policy$2imf 606 $aMoney$2imf 606 $aMortgages$2imf 606 $aPayment Systems$2imf 606 $aRegimes$2imf 606 $aStandards$2imf 606 $aSystemic risk$2imf 607 $aUnited States$2imf 615 0$aInternational finance. 615 0$aGlobal Financial Crisis, 2008-2009. 615 7$aActuarial Studies 615 7$aBanking 615 7$aBanks and Banking 615 7$aBanks and banking 615 7$aBanks 615 7$aBusiness and Financial 615 7$aCurrencies 615 7$aDepository Institutions 615 7$aFinance 615 7$aFinance: General 615 7$aFinancial regulation and supervision 615 7$aFinancial risk management 615 7$aFinancial services industry 615 7$aFinancial services law & regulation 615 7$aGeneral Financial Markets: Government Policy and Regulation 615 7$aGovernment and the Monetary System 615 7$aInsurance & actuarial studies 615 7$aInsurance Companies 615 7$aInsurance 615 7$aLaw and legislation 615 7$aMicro Finance Institutions 615 7$aMonetary economics 615 7$aMonetary Systems 615 7$aMoney and Monetary Policy 615 7$aMoney 615 7$aMortgages 615 7$aPayment Systems 615 7$aRegimes 615 7$aStandards 615 7$aSystemic risk 676 $a332.1/52 700 $aEichengreen$b Barry$0318418 712 02$aInternational Monetary Fund. 801 0$bDcWaIMF 906 $aBOOK 912 $a9910828974303321 996 $aOut of the Box Thoughts about the International Financial Architecture$94049401 997 $aUNINA