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The financial sector industry has undergone major changes in recent years. Technological innovation, deregulation, and liberalization are changing the context in which financial supervisors operate. Selecting the right supervisory model is an important strategic decision for a government or financial authority, and should be done in a way that fits with the institutional setting and resource capacity of the particular country. While an increasing number of countries are planning to integrate financial supervisory agencies, others have adopted a partially integrated supervisory structure, and many maintain completely separate agencies. Aligning Financial Supervisory Structures examines experiences from a variety of supervisors and policymakers from different countries to cross-fertilize ideas on issues of financial supervisory structure and to better understand why and how some countries have initiated structural changes. This timely book also identifies the pros and cons of different financial supervisory models.
(source: Nielsen Book Data)

• Overview, public policy perspectives and rewcommendations to the OECD-- defining the mission of the Corporation in the modern economy-- ensuring adaptability of corporate governance arrangements-- protecting shareholder rights-- enabling active investing-- aligning the interests of shareholders and other stakeholders-- recognizing societal interests.
• (source: Nielsen Book Data)

In this report, it is emphasized that while corporate governance should remain primarily a private sector perogative, governments are responsible for providing a regulatory framework that allows investors and enterprises to adapt corporate governance practices to rapidly changing circumstances. There is no static or final structure in corporate governance: experimentation and variety should be expected and encouraged within the limits of credible regulations emphasizing fairness, transparence, accountability and responsibility. Within this framwork, perspectives to guide public policies related to corporate governance are presented, as are suggested areas for private sector voluntary action and recommended further actions.
(source: Nielsen Book Data)

For dozens of developing countries, the financial upheavals of the 1980s have set back economic development by a decade or more. Poverty in those countries have intensified as they struggle under the burden of an enormous external debt. In 1988, more than six years after the onset of the crisis, almost all the debtor countries were still unable to borrow in the international capital markets on normal terms. Moreover, the world financial system has been disrupted by the prospect of widespread defaults on those debts. Because of the urgency of the present crisis, and because similar crises have recurred intermittently for at least 175 years, it is important to understand the fundamental features of the international macroeconomy and global financial markets that have contributed to this repeated instability. "Developing Country Debt and the World Economy" contains nontechnical versions of papers prepared under the auspices of the project on developing country debt, sponsored by the National Bureau of Economic Research. The project focuses on the middle-income developing countries, particularly those in Latin America and East Asia, although many lessons of the study should apply as well to other, poorer debtor countries. The contributors analyze the crisis from two perspectives, that of the international financial system as a whole and that of individual debtor countries. Studies of eight countries--Argentina, Bolivia, Brazil, Indonesia, Mexico, the Philippines, South Korea, and Turkey--explore the question of why some countries succumbed to serious financial crises while other did not. Each study was prepared by a team of two authors--a U.S.-based research and an economist fromthe country under study. An additional eight papers approach the problem of developing country debt from a global or "systemic" perspective. The topics they cover include the history of international sovereign lending and previous debt crises, the political factors that contribute to poor economic policies in many debtor nations, the role of commercial banks and the International Monetary Fund during the current crisis, the links between debt in developing countries and economic policies in the industrialized nations, and possible new approaches to the global management of the crisis.
(source: Nielsen Book Data)

Theoretical and empirical analysis of de jure dollarization. With the persistent instability of international financial markets, emerging economies are exploring new ways to reduce exposure to capital flow volatility. Some analysts argue that financially open economies are best served by more flexible regimes, while others argue in favor of extreme exchange rate regimes that have a strong commitment to a fixed parity or dispense with an independent currency. The successful launch of the euro has made more realistic the prospect of replacing a national currency with a strong foreign one. Recent examples include the adoption of the US dollar by Ecuador and El Salvador. The introduction of a foreign currency as sole legal tender, termed full (de jure) dollarization, has been the center of much political and academic debate. This book provides a comprehensive analysis of the issues from both theoretical and empirical perspectives. The topics discussed include the role of balance sheet effects, the linkage between currency risk and country risk, the impact of dollarization on trade, financial integration and credibility, the implications of dollarization for the lender of last resort, and the institutional and political economy aspects of dollarization.
(source: Nielsen Book Data)

• Debt in the North/South dialog.--The development role of private lending.