The global economic crisis
Subtitle: systemic failures and multilateral remedies
By: report by the UNCTAD Secretariat Task Force on Systemic Issues and Economic Cooperation
Publisher: United Nations
Published: 2009
Place of publication: New York; Geneva
Language: eng
Number of pages: 64
ISBN-13: 9789211127652
Subjects: Commodity futures; International finance; Financial services industry; Deregulation; Capital movements; Money market; Financial crises; Speculation; Global Financial Crisis, 2008-2009
Description: This report investigates three specific areas in which the global economy experienced systemic failure. These are interrelated issues of importance to developed and developing countries alike. The report proposes measures to address the systemic failures they have entailed: (a) how the ideology of financial deregulation within and across nations allowed the build-up of pressures whose unwinding has damaged the credibility and functioning of the market-based models that have underpinned financial development throughout the world; (b) how the growing role of large-scale financial investors on commodities futures markets has affected commodity price volatility and fed speculative bubbles; and (c) the role of widespread currency speculation in exacerbating global imbalances and fuelling the current crisis in the absence of a cooperative international system to manage exchange rate fluctuations to the benefit of all nations.
Notes: Includes bibliographical references (p. 61-64).

Also available online.

Mode of access: Internet.
Table of contents: title: 1. A crisis foretold; title: 2. Financial regulation : fighting today's crisis today; title: 3. Managing the financialization of commodity futures trading; title: 4. Exchange rate regimes and monetary cooperation; title: 5. Towards a coherent effort to overcome the systemic crisis; title: References.