《国际货币与金融经济学》ppt15

《《国际货币与金融经济学》ppt15》由会员上传分享，免费在线阅读，更多相关内容在教育资源-天天文库。

1、PolicyCoordination,MonetaryUnion,andTargetZonesInternationalFinancialArchitectureTheinternationalfinancialarchitectureistheinstitutions,governmentalandnon-governmentorganizations,andthepoliciesthatgovernactivityintheinternationalmonetaryandfinancialmarkets.Sincethecollapseofth

2、eBrettonWoodssystemthatmostimportantaspectoftheinternationalfinancialsystemisthegrowthofcapitalflowsamongnations.DanielsandVanHoose2MultinationalPolicymakingCapitalMarketLiberalizationAdvocatesofliberalizedcapitalflowsarguethatunhinderedcapitalflowsallowsavingstoflowtotheirmos

3、tproductiveuse,resultinginthedevelopmentofrealresourcesandhigherproductivity.Financialmarketimperfections,suchasthosediscussedinchapter7mayresultincapitalmisallocationsandfinancialinstability.DanielsandVanHoose3MultinationalPolicymakingFinancialInstabilityandFinancialCrisisFin

4、ancialinstabilityiswhenmarketimperfectionsandpolicycreateddistortionsresultinasituationinwhichthefinancialsectorisunabletoallocatefundstotheirmostproductiveuse.Afinancialcrisisisasituationwhereanation’sfinancialsystemisnolongerabletofunction.Acrisistypicallyinvolvesabankingcri

5、sis,andcurrencycrisis,andaforeigndebtcrisis.DanielsandVanHoose4MultinationalPolicymakingCapitalFlowsandFinancialCrisisInternationalcapitalsflowsconsistsofshort-termorportfoliocapitalflows,andlong-termorforeigndirectinvestmentflows.Anexcessiverelianceonportfoliocapitalcanbedes

6、tabilizingandmaycontributetofinancialcrises.DanielsandVanHoose5MultinationalPolicymakingMultilateralPolicymakingThetwoorganizationsatthecenterofeffortstosteminternationalfinancialcrisesare:TheInternationalMonetaryFund:amultinationalorganizationthepromotesinternationalmonetaryp

7、olicycooperation,exchangearrangements,andeconomicgrowth.TheWorldBank:Asisterinstitutionthatspecializesinmakingloanstodevelopingnationstopromotedevelopmentandgrowth.DanielsandVanHoose6MultinationalPolicymakingCantheseOrganizationsPredictaCrisis?Topredictacrisis,policymakersmus

8、thaveanideaoftheircause.Potentialsourcesoffinancialcrisisare: