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The Political Economy of Global Financial Governance

其他書名	The Costs of Basle Ii for Poor Countries
出版	Birkbeck, University of London, 2006
URL	http://books.google.com.hk/books?id=kTWinQAACAAJ&hl=&source=gbs_api

註釋The 1990s financial crisis triggered many changes to the design of the international financial system, the so-called international financial architecture. While much affected, developing countries have had very little influence on the changes, which the formulation of the new Basle capital accord (B-II) illustrates. The article shows that B-II has largely been formulated to serve the interests of powerful market players, with developing economies being left out. For developing countries, B-II can make domestic financing more costly and raise the costs of and reduce the access to external financing. Importantly, B-II can exacerbate fluctuations in the supply of external financing, an unfortunate outcome, given that developing countries already suffer from volatility.