Showing 1 through 1 of 1 records.
| | Pages: 44 pages | || | Words: 13080 words | || | |
| 1. Claessens, Stijn., Underhill, Geoffrey. and Zhang, Xiaoke. "Basle II Capital Requirements and Developing Countries: a Political Economy Perspective on the Costs for Poor Countries of Rich Country Policies" Paper presented at the annual meeting of the International Studies Association, Le Centre Sheraton Hotel, Montreal, Quebec, Canada, Mar 17, 2004 <Not Available>. 2009-11-27 <http://www.allacademic.com/meta/p73420_index.html>Publication Type: Conference Paper/Unpublished Manuscript
Review Method: Peer Reviewed
Abstract: The 1990s financial crises have triggered changes to the international financial system, the so-called international financial architecture. While much affected, developing countries have had very little influence on the changes, which the formulation of the new Basle capital accord (Basle II, B-II) illustrates. We show that B-II has largely been formulated to advance the interests of powerful market players, at the expense of those of developing economies. For these countries, B-II can raise the costs of and reduce the access to external financing. Importantly, B-II can exacerbate fluctuations in the availability of external financing, an unfortunate outcome, given that developing countries already suffer from volatile capital flows. |
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