---------- Forwarded message ---------- From: World Economics Association <[email protected]> Date: Mon, Mar 30, 2015 at 11:02 PM Subject: World Economics Association - Rethinking the international financial architecture To: michel <[email protected]> <http://www.feedblitz.com/> World Economics Association - Rethinking the international financial architecture <http://p.feedblitz.com/r3.asp?l=56496096&f=763931&u=28787422&c=4918795> ------------------------------ Rethinking the international financial architecture <http://p.feedblitz.com/r3.asp?l=103657735&f=763931&u=28787422&c=4918795> *The next WEA Online Conference: *May 1 – June 30, 2015 *An invitation to submit a paper and/or take part in the discussion* The existing international financial architecture, institutions left over from the Bretton Woods period, proved useless to prevent or warn against the 2007-2008 crisis, or even less, solve it. Only when a new presidential grouping G20 meeting was called for in London in March 2009, were the issues of how to coordinate countercyclical policies and inject resources into the economies discussed. At that time a UN high level Commission, what became known as the Stiglitz Commission, was created to propose reforms to the international financial architecture. However its recommendations were shunned by some large UN member countries due to their rejection of *the principle of global solutions for global problems*. Indeed, some European countries and the US still insist on national solutions, that is, on the use of local regulatory agencies in the international financial field. Eight years have now elapsed since the crisis emerged, and global financial problems are still dealt with at a national level. Furthermore the G7 countries have imposed the policy of austerity as a means of reducing public debt to GDP ratios, with the consequence that debt ratios have increased still more and economic activity has been depressed. It is against this background that the need for *a new international financial architecture *has emerged, and that this WEA conference is being organized by Oscar Ugarteche and Alicia Puyana. Many questions need to be addressed: - How did the crisis affect the structure of the financial sector in the different regions of the world? What kinds of provisions were implemented to manage the impact? - Has the financial crisis influenced the financial flows for productive sectors in the regions? - Have the regional financial architectures been adequately reformed after the crisis? Do they have any margin of autonomy to reform, or are they totally dependent on foreign banks and external funds? - Can vulture funds be considered as an element of the so-called new financial structure to prevent crises, or are they one more cause of instability? - Are the IMF and the available existing international reserves sufficient to prevent another major crisis? - Can the IMF be reformed, despite European and US reluctance to do so? - How should debt reduction mechanisms function in this new global scenario? - Are there lessons from the Latin American debt crisis of the 1980’s for Europe? Or is it a new type of crisis? - Are the austerity programs recently imposed on indebted countries appropriate policy measures to prevent financial crisis, such as the one in 2008? *Papers falling within the broad topic of the conference as well as on related aspects that are not explicitly noted here are welcome.* *For deadlines, guidelines and submissions: http://itnifa2015.weaconferences.net/ <http://p.feedblitz.com/t3.asp?/763931/28787422/4918795/itnifa2015.weaconferences.net/>* *Contact: [email protected] <[email protected]>* *The Discussion Forum begins on May 1. * The *WEA* needs your support and WEA eBooks authors *want you to read their books.* *Pay the voluntary $50 membership fee* <http://p.feedblitz.com/t3.asp?/763931/4534930/0/www.worldeconomicsassociation.org/membership/annualfees/> and *download for free* <http://p.feedblitz.com/t3.asp?/763931/4534930/0/www.worldeconomicsassociation.org/books/> any 7 of their books within a year. 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