Skip to main content
Available in English

Global financial rulemaking and small economies

Publication cover

Global financial rulemaking and small economies

Author: Artecona, Raquel - Bustillo, Inés Physical Description: 35 p. Editorial: ECLAC Date: July 2015 ECLAC symbol: LC/L.4048

Description

This paper addresses some unintended consequences of global financial regulation and international tax evasion prevention and their impact on small economies. It explores how failure to recognize countries’ differing access to finance and varying costs of funding as well as the high costs of complying with financial regulations may overlook some unintended consequences, especially on smaller island countries
Then, it discusses the global financial architecture and governance of standard setting bodies and the actions taken to improve representation and legitimacy and remediate some of the unintended deleterious effects on emerging markets and developing economies (EMDEs). Improving governance is ever more urgent at a time when financing the post-2015 agenda will require mobilization of both public and private funds at the national, regional and global levels.

Table of contents

Abstract .-- Introduction .-- I. Global regulatory reforms .-- II. chitecture of current global financial regulations .-- III. Final remarks.