Global Governance of Financial Systems : The International Regulation of Systemic Risk (Hardcover)--by Kern Alexander [2005 Edition] ISBN: 9780195166989

Global Governance Of Financial Systems Analyzes The Current International Legal And Regulatory Framework For Controlling Systemic Risk In Global Financial Markets. It Suggests That Current Efforts At International Regulation Are Inefficient, Fragmented, And Lack Political Legitimacy. The Current Structure Of International Financial Regulation Fails To Manage Systemic Risk In An Efficient Manner That Promotes Adequate Economic Growth And Political Accountability Among Nations. This Book Sets Forth The Economic Rationale For International Financial Regulation And What Role, If Any, International Regulation Can Play In More Effectively Managing Systemic Risk And Providing More Accountability For States Subject To Such Regulation.--jacket. Managing Systemic Risk -- Global Governance And International Standard Setting -- International Legal Framework For International Financial Regulation -- International Soft Law And The Formation Of Binding Internatioanl Financial Regulation -- Strengthening The Global Financial System Through Institutional And Legal Reform -- Incentives Versus Rules -- Economics Of Systemic Risk In International Settlements -- Microeconmic Examination Of Financial Fragility -- Reforming The Basel Accord And The Use Of Subordinated Debt -- Enhancing Corporate Governance For Financial Institutions -- Summing Up And Conclusion. Kern Alexander, Rahul Dhumale, John Eatwell. Includes Bibliographical References And Index.