El sistema financiero internacional y el financiamiento para el desarrollo

A partir de la premisa de que la globalización debe ser conducida hacia un proceso que promueva la paz, democracia y justicia social, el Proyecto Globalización de la Fundación Friedrich Ebert aborda en profundidad la problemática de la arquitectura financiera internacional y del financiamiento para el desarrollo, entre otros temas claves de la agenda internacional actual.

Hacia la reforma del sistema financiero internacional

Stephany Griffith-Jones. How to Create Better Financial Regulation and Institutions The design and creation of a global financial regulator is one of the main institutional challenges that the international community faces in the wake of the current financial crisis. Such a body would allow regulatory reforms to be implemented globally and it would also help to prevent future crises.

Stephanie Hell. The Response of the United Nations to the Global Financial Crisis The global financial and economic crisis emerged in the summer of 2008 and soon affected the whole world. With its origin in the United States, the crisis spread to other developed economies before it increasingly hit emerging markets and developing countries. Within a short time, both Secretary-General Ban Ki-moon as well as General Assembly President, Miguel d’Escoto Brockmann have convened a number of meetings and task forces in reaction to the crisis.

Christopher Rude. The Global Financial Crisis: What Needs To Be Done? Serious efforts to reform the international financial system must consider the broad lessons of the current crisis for financial market regulation, specific steps to take to make future financial stability more likely, and the reshaping of the international financial system, including its architecture and governance, so that it better serves the needs of the underlying real economy. Such efforts should begin with the recognition that the social costs of financial instability on the emerging market and developing economies are immense.

Jack Boorman. An Agenda for Reform of the International Monetary Fund (IMF) What are the underlying factors shaking the very foundation of one of the pillars of the international fi nancial architecture? What strategic and managerial reforms would be necessary to allow the IMF to address the most pressing challenges to economic and fi nancial stability? And fi nally, what can be done within the governance structure of the Fund to make it more representative of all segments of its membership?

Roberto Frenkel. Current Problems with the IMF and Challenges Ahead – A Latin American Perspective The International Monetary Fund is currently a problematic institution. A brief enumeration of the principal, commonly perceived problems includes the following: 1) the institution is no longer fulfilling the functions it used to fulfil, nor is there a clear vision of any new functions for it; 2) due to a drastic pruning of its loan operations, it is not receiving enough revenue to cover its operating costs; 3) the IMF has not played a notable role in the debate a-bout global imbalances, even though this issue is at the very heart of its institutional remit; 4) it is suffering a crisis of legitimacy, with its power structure questioned by many members; 5) there is a lack of confidence, from quite different perspectives, in its intellectual orientation and the quality of its policy recommendations.

Integración financiera regional

Oscar Ugarteche. Entre la realidad y el sueño La construcción de una arquitectura financiera sudamericana El Banco del Sur forma parte de los esfuerzos para avanzar en la construcción de una arquitectura financiera sudamericana que, además, incluya una unidad monetaria. El artículo analiza los problemas que ya han comenzado a aparecer, vinculados a las asimetrías entre los países de la región, y sugiere mirar los ejemplos de Asia y Europa para encontrar un camino adecuado que permita avanzar en la articulación financiera de la región.

Titik Anas and Deni Friawan. The Future Role of the IMF: Asian Perspectives This paper will discuss the development of regional financial cooperation and inciatives in Asia to date and their relevance to the region’s objective to have a mechanism for improved crisis management. This paper will also discus the relevance of those initiatives to the IMF reform.

El financiamiento para el desarrollo

Fabiola Mieres. Financing for Development and the Reform of the Financial Architecture: A View from Latin America The document stresses that Latin American countries have to be incorporated in international decision making mechanisms. Furthermore, it suggests to strengthen regional development banks, to regulate the international financial markets and to give more political space to Latin American countries.

Sara Burke-Rude. The Doha Declaration and Development: What Are the Next Steps? Coming as it did in the midst of a historic, global economic crisis, the project of the Doha Review Conference – in its negotiations, plenaries, round tables and side-events – was largely overshadowed by the crisis. With the exception of France/the EU, industrialized nations did not send heads of state or even high-level delegates to the conference. Nevertheless, it was an opportunity to respond to the crisis as a globally inclusive and representative body – rather than as a G-7 or a G-20.

Fabiola Mieres y Pablo Trucco. El financiamiento para el desarrollo y la reforma del sistema financiero internacional.Una mirada desde América Latina Este trabajo analiza en qué medida el contexto económico actual puede contribuir o no con el financiamiento para el desarrollo en América Latina, indaga en el rol que pueden desempeñar los Estados y los organismos financieros de la región en este ámbito y reflexiona acerca de la posición de América Latina en el debate internacional sobre el tema.

Frank Schroeder. Fuentes innovadoras de financiamiento tras la Conferencia de París:el concepto avanza, pero los mayores desafíos persisten Este documento presenta un análisis de las diferentes propuestas para nuevas fuentes de financiamiento del desarrollo. Esto implica el abordaje de las siguientes cuestiones: ¿Por qué se buscan fuentes alternativas o adicionales a la Asistencia Oficial al Desarrollo (AOD)? ¿Cuál será el papel que jugarán las nuevas fuentes de financiamiento del desarrollo, en términos generales, en el cumplimiento de los Objetivos de Desarrollo del Milenio y en el crecimiento económico?

Regina Bernhard and Christian Kellermann. Against All Debts? Solutions for Future Sovereign Defaults This article analyses the problems of collective action which typically occur in the event of a default. We then review concepts of how to handle debt crises at international level. In a first step, we provide an overview of the main proposals for solving such crises. The main part, however, is dedicated to the evaluation of two proposals from non-governmental organizations (ngos) and think-tanks which puts forward an international insolvency procedure analogous to us Bankruptcy Code Chapter 9, and the International Debt Framework (idf), a framework associated primarily with the Group of 20 (G20).

Luke Eric Peterson. The Global Governance of Foreign Direct Investment: Madly Off in All Directions This paper aims at providing a critical overview of the present situation with a special focus on policy implications, restrictions on government regulations and – in particular – the complex issues of investor-state disputes.

Documentos no publicacdos por la Fundación Friedrich Ebert

Ricardo Ffrench-Davis. Innovative Financing for Development In this brief note we discuss, in section 1, selected issues among those covered by the Monterrey Consensus (MC); then, in section 2, we review the developments since the MC, including selected new issues that have arisen. Some recommendations for consideration in the Doha Review Conference are presented in section 3, focused in innovative sources of financing.

Roberto Frenkel and Martin Rappetti. Economic Development and the New Order in the International Financial System This paper aims to describe and discuss the main characteristics of this new way emerging market economies found to participate in the global financial markets, as well as its implications on their economic performance. The section following this introduction describes the recent economic performance of emerging market economies associated to the changes in their way of insertion into global financial markets. It also surveys empirical evidence on the relationship between foreign saving, reserve accumulation and economic growth. The main message here is that a deep reform should pursue an international agreement on real exchange rates levels and exchange rate regimes that help developing countries to follow exportled growth paths.

Confederación Sindical Internacional. Declaración a la Conferencia de Seguimiento sobre la Financiación para el Desarrollo

Links

• Iniciativa para la Transparencia Internacional Se trata de un proyecto pensado para contribuir a la democratización de la discusión de temas financieros y macroeconómicos que son de interés de un público muy amplio pero que suelen quedar confinados en ámbitos reducidos, dominados por técnicos y expertos y, con frecuencia, poco expuestos a la libre confrontación de ideas.
• Initiative for Policy Dialogue Nobel laureate economist Joseph Stiglitz founded The Initiative for Policy Dialogue (IPD) in July 2000 to help developing countries explore policy alternatives, and enable wider civic participation in economic policymaking.
• Global Policy Forum This page contains information on the different ways to mobilize finances for development, and provides information on the international conference on financing for development, its preparation, and follow-up.
• IFI Watchnet Esta iniciativa conecta organizaciones en todo el mundo que hacen seguimiento a las Instituciones Financieras Internacionales (IFIs) tales como el Banco Mundial, el Fondo Monetario Internacional y los bancos regionales de desarrollo.
• Casino Cash Casino Crash is an initiative of the Transnational Institute and the Institute of Policy Studies. The aim of the blog is to provide a space for critical analysis of the financial crisis.