Stephany Griffith-Jones

Stephany Griffith-Jones is Professorial Fellow at the Institute of Development Studies, Sussex University. She is currently on leave, working as Deputy Director, International Finance, at the Commonwealth Secretariat. She has published widely, especially in the field of international finance. Her most recent book, Global Capital Flows; should they be regulated?, was published by Macmillan.

Papers Published in World Economics:

Proposals for a better International Financial System

This paper analyses three essential functions of global financial market management that currently are not properly met, and could best be met by new institutional developments: 1. prudential regulation; 2. provision of official liquidity to countries or markets in crises; and 3. emergency orderly work-out procedures. The paper reviews progress achieved regarding needed reform of the international financial architecture since 1998. It concludes that, although important progress has been made, it is urgent for further necessary measures to be taken. This is because recent crises have had an unacceptably high cost, especially for developing countries, and have discouraged future private investment, both by national and foreign investors.

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