Global financial rulemaking and small economies
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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.
SerieStudies and Perspectives Series (Washington, DC) No. 13
ECLAC SubtopicsFINANCIAL AND MONETARY SECTOR ; FINANCIAL ARCHITECTURE ; FINANCING AND EXTERNAL DEBT ; MACROECONOMICS
United Nations SubtopicsCAPITAL MARKETS ; FINANCIAL SERVICES ; ECONOMIC REGULATION ; FINANCIAL CRISIS
Country / RegionLATIN AMERICA AND THE CARIBBEAN