Macroeconomic Volatility, Institutions and Financial Architecture

The deregulation of domestic financial markets and the capital account in developing countries has frequently been associated with financial turmoil and macro volatility. The book analyzes the experience of Argentina, Brazil, Chile, China, Nigeria, Russia, South Africa, and Thailand, and draws implications for building development-friendly domestic and international financial architectures. The recommendations are made in light of the key challenge: to design and implement policies able to control macro volatility while building the rules of the financial game that will ultimately contribute to mitigating the sources of aggregate risk.

JOSÉ MARÍA FANELLI is Senior Researcher at CEDES, Argentina. He holds a PhD in Economics from the University of Buenos Aires. He specializes in the analysis of macroeconomic and financial problems in developing countries and has published numerous academic articles and several books on these topics. He has been actively involved in the establishment of permanent research networks in the Latin American region.

Macro Volatility and Financial Institutions–J.M.Fanelli * A Countercyclical Framework for a Development-Friendly IFA–J.A.Ocampo & S.Griffith-Jones * Regional and Multilateral Efforts: Institution-Building–Y.C.Park, Y.Wang & D.Y.Yang * Volatility: Prudential Regulation, Standards and Codes–L.Rojas-Suarez * The Political Economy of Reforming Domestic Financial Architectures–A.Rius * China–H.X.Wu & E.Y.P.Shea * Thailand–P.Pholphirul & P.Vichyanond * Russia; A.Peresetsky & V.Popov * Argentina–J.M.Fanelli * Brazil–F.E.Pires de Souza, G.Borges da Silveira & F.J.Cardim de Carvalho * Chile–I.Magendzo & D.Titelman * South Africa–M.Ayogu & H.Dezhbakhsh * Nigeria–S.I.Ajayi & A.Adenikinju