Seminar Volumes

February 8, 2013

Current Developments in Monetary and Financial Law, Volume 6: Restoring Financial Stability--The Legal Response

Description: “Restoring Financial Stability-The Legal Response” is the theme of the sixth volume of “Current Developments in Monetary and Financial Law.” The book covers a range of issues: frameworks and regulatory reforms in the United States, European Union, and Japan that address systemic risk; the international dimension of financial stability; the regulation of complex financial products; cross-border banking supervision; capital adequacy; and corporate and household debt restructuring. The chapters are based on presentations from a seminar hosted by the IMF Legal Department, the Ministry of Finance of Japan, the Financial Services Agency of Japan, and the Bank of Japan, with the assistance of the IMF Institute. The contributors to the volume come from both the public and private sectors, and include academics, lawyers practicing in the fields of banking and financial law, and officials from central banks, supervisory and regulatory agencies, and standard-setting bodies.

November 6, 2008

Current Developments in Monetary and Financial Law, Vol. 5

Description: The main theme of Volume 5 in this series is law and financial stability. The chapters cover many topics that enhance the reader's understanding of financial stability, as well as the many instruments available to promote it. The contributors discuss and analyze a range of issues such as, competing responsibilities of central banks and the institutional responses to past episodes of instability; the reasons for and against regulating hedge funds and derivatives, and the methods available for doing so; and the contributions of deposit insurance schemes, payments systems and securities settlement systems towards achieving financial stability. The relationship between laws proscribing money laundering and the financing of terrorism and the goal of financial stability is also discussed. The chapters in this edited volume are based on presentations from the tenth biennial seminar for legal advisors of central banks and member countries organized by the Legal Department and Institute of the IMF. The chapter authors include scholars, lawyers, representatives from the private sector, as well as officials of the IMF, other international organizations, and central banks.

Notes: See Volume 1, Volume 2, Volume 3, Volume 4, and Seminar on Current Developments in Monetary and Financial Law, October 2006.

November 6, 2008

Current Developments in Monetary and Financial Law, Vol. 4

Description: The Legal Department and the Institute of the IMF held their ninth biennial seminar for legal advisors of IMF member countries’ central banks, and the papers published in this volume are based on presentations made by officials attending this seminar. The seminar covered a broad range of topics, including sovereign debt restructuring, money laundering and the financing of terrorism, financial system and banking supervision, conflicts of interest and market discipline in the financial sector, insolvency, and other issues related to central banking.

Notes: See Volume 1, Volume 2Volume 3 and Seminar on Current Developments in Monetary and Financial Law, May 2004

June 19, 2007

Working Together: Improving Regulatory Cooperation and Information Exchange

Description: Globalization requires enhanced information flows among financial regulators. Standard-setting bodies for financial sector regulation provide extensive guidance, but financial sector assessments have often found that problems in cooperation and information exchange continue to constrain cross-border supervision and financial integrity oversight. In July 2004, the IMF organized a conference on cross-border cooperation for standard setters, financial intelligence units (FIUs), and financial regulatory agencies. This book brings together conference papers in which participants discuss: information exchange for an effective anti–money laundering/combating the financing of terrorism (AML/CFT) regime, in terms of both standards and practices; the standards for cooperation in the insurance sector; and the experiences of regulators from banking, securities, and unified regulatory agencies with international cooperation. The book also includes papers providing a general overview of international standards and their implementation and, on the basis of survey results, of practices among financial sector regulators and FIUs.

March 8, 2007

Rapid Credit Growth in Central and Eastern Europe: Endless Boom or Early Warning?

Description: This volume represents the latest developments and policy debate on a very current issue: the rapid growth of banking sector credit to the private sector, which continues to occupy the minds of academics and policymakers alike in many central and eastern European (CEE) countries. The papers, presented by the representatives of international organizations and monetary and supervisory authorities of a number of western and CEE countries, provide discussions on how to assess and respond to excessive credit growth. Case studies represent the challenges faced by policymakers in dealing with rapid credit growth, providing useful lessons for other countries experiencing a similar phenomenon. For more information on how to purchase a copy of this title, please visit http://www.palgrave.com/economics/imf/index.asp.

July 27, 2006

Procyclicality of Financial Systems in Asia

Description: The procyclicality of financial systems has received an increasing amount of attention from policymakers, academics, and international organizations in recent years. This heightened interest stems from a combination of the ongoing globalization of finance, the role of the financial sector in various emerging market crises in the late 1990s, and the potential impact on financial sectors of the upcoming implementation of the Basel II accord. Some degree of financial sector procyclicality is a characteristic of any normally functioning economy. At issue is whether the observed procyclicality is excessive. The challenge is to define "excessive" and to identify policy measures that could produce superior economic outcomes. This volume attempts to do so by collecting recent work on procyclicality in Asian financial systems. For more information on how to purchase a copy of this title, please visit http://www.palgrave.com/economics/imf/index.asp.

April 21, 2006

The Macroeconomic Management of Foreign Aid: Opportunities and Pitfalls

Description: Relatively slow progress toward meeting the Millennium Development Goals (MDGs) by their 2015 target date has added urgency to the challenge of reducing global poverty. The authors of this new book--who include scholars from the IMF, World Bank, Oxford University, and the Center for Global Development--argue that the MDGs cannot be achieved without a substantial scaling up of foreign aid. They show how such increased aid flows must be managed effectively to ensure the greatest benefit. And they offer analysis and insight on a variety of macroeconomic policy implications that both donors and recipients should consider.

April 3, 2006

IMF-Supported Programs: Recent Staff Research

Description: Research work by the IMF’s staff on the effectiveness of the country programs the organization supports, which has long been carried out, has intensified in recent years. IMF analysts have sought to “open up the black box” by more closely examining program design and implementation, as well as how these influence programs’ effectiveness. Their efforts have also focused on identifying the lending, signaling, and monitoring features of the IMF that may affect member countries’ economic performance. This book reports on a large portion of both the new and the continuing research. It concludes that IMF programs work best where domestic politics and institutions permit the timely implementation of the necessary measures and when a country is vulnerable to, but not yet in, a crisis. It points to the need for a wider recognition of the substantial diversity among IMF member countries and for programs to be tailored accordingly while broadly maintaining the IMF’s general principle of uniformity of treatment.

February 27, 2006

Access to Trade Finance in Times of Crisis

Description: Trade finance has long been an important component of international financial flows. Firms in emerging market economies, in particular, rely heavily on bank-financed trade credits to support their export and import activities. This book examines why and how much trade finance flows decline during financial crises, with case studies of several Asian and Latin American countries. The authors draw from the analysis to present options for mitigating trade finance declines in the event of future crises.

November 28, 2005

India's and China's Recent Experience with Reform and Growth

Description: China and India already rank among the world's largest economies, and each is moving rapidly toward the center stage of the global economy. In this process, different priorities have been placed on economic reforms over the past two decades?China taking a more outward strategy and India, until recently, a more inward one. Can they continue to rank among the fastest-expanding economies? This volume addresses that issue, highlighting what has worked and what more needs to be done to ensure sustained rapid economic growth and poverty reduction. Addressing the two countries recent experiences with growth and reform, this book provides important insights for other developing economies. For more information on how to purchase this title, please visit http://www.palgrave.com/economics/imf/index.asp.