Global financial rulemaking and small economies

Artecona, Raquel
Bustillo, Inés

2015-07

LC/L.4048
LC/ WAS/L.134

Descargar documento

This paper addresses some unintended consequences of global financial regulation and international tax evasion prevention and their impact on small economies. It explores how failure to recognize countries’ differing access to finance and varying costs of funding as well as the high costs of complying with financial regulations may overlook some unintended consequences, especially on smaller island countries Then, it discusses the global financial architecture and governance of standard setting bodies and the actions taken to improve representation and legitimacy and remediate some of the unintended deleterious effects on emerging markets and developing economies (EMDEs). Improving governance is ever more urgent at a time when financing the post-2015 agenda will require mobilization of both public and private funds at the national, regional and global levels.

Abstract .-- Introduction .-- I. Global regulatory reforms .-- II. chitecture of current global financial regulations .-- III. Final remarks.

MERCADOS DE CAPITAL; SERVICIOS FINANCIEROS; REGULACION ECONOMICA; CRISIS FINANCIERA; CAPITAL MARKETS; FINANCIAL SERVICES; ECONOMIC REGULATION; FINANCIAL CRISIS;