The Road to International Financial Stability

1. Front Matter

   Pages i-xiv

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2. Introduction

   1. Introduction

      • Benu Schneider

      Pages 1-12

3. Developing-country Perspectives and Experience

   1. Front Matter

      Pages 13-13

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   2. Implications of Implementing Standards and Codes: A Developing-country Perspective

      • Benu Schneider

      Pages 15-61

   3. Implementing Standards and Codes through the BWIs: An Overview of the Developing-country Perspective

      • Aziz Ali Mohammed

      Pages 62-86

   4. The View from India

      • T C A Anant

      Pages 87-97

   5. The View from Mexico

      • Javier Guzmán Calafell

      Pages 98-109

   6. Implementation in East Asia

      • Andrew Walter

      Pages 110-141

4. Developed-country Perspectives

   1. Front Matter

      Pages 143-143

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   2. Standards and Codes: A G-7 Countries Perspective

      • Alastair Clark

      Pages 145-151

   3. The View from Germany: Standards and Codes – Important Cornerstones for Financial Crisis Prevention

      • Axel Nawrath

      Pages 152-155

5. Private-sector Perspectives

   1. Front Matter

      Pages 157-157

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   2. Effects of Standards and Codes on Country Risk Ratings

      • Lionel Price

      Pages 159-169

   3. Do We Need to Go Beyond Disclosure?

      • Michael Metcalfe, Avinash Persaud

      Pages 170-178

   4. Filling the Information Gap: The Role of the Private Sector

      • Michael Bates

      Pages 179-187

   5. Standards and Codes: Firing at the Wrong Target?

      • David Lubin

      Pages 188-192

6. Invited Commentary

   1. Front Matter

      Pages 193-193

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   2. International Standards and Codes – Comments on Emerging Issues

      • Y V Reddy

      Pages 195-212

7. Back Matter

   Pages 215-247

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After the crisis in emerging market economies in the mid-late 1990s, the adoption of internationally recognised standards, or codes of good practice, was seen as a way to help strengthen the international financial system. This volume examines whether the standards and codes exercise can make a meaningful contribution to global financial stability and examines the developing country perspective. It takes the first steps in answering some of the open questions in the field.

• Asia
• East Asia
• financial crisis
• Germany
• information
• prevention
• rating
• stability

T.C.A ANANT Delhi School of Economics, University of Delhi, India MICHAEL BATES Oxford Analytica, UK ALASTAIR CLARK Executive Director, Bank of England, UK ANDREW CORNFORD UNCTAD, Switzerland JAVIER GUZMAN Director of International Affairs, Banco de México DAVID LUBIN HSBC, UK MICHAEL METCALFE State Street Bank and Trust Company, Switzerland AZIZ ALI MOHAMMED G-24, Pakistan AXEL NAWARTH Deustche Börse, Germany AVINASH PERSAUD State Street Bank and Trust Company, Switzerland LIONEL PRICE Fitch Sovereign Ratings, UK Y.V. REDDY International Monetary Fund, USA ANDREW WALTER London School of Economics, UK

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