Litan (economic studies, the Brookings Institution), Pomerleano (financial sector operations and policy, the World Bank), and Sundararajan (monetary and exchange affairs, International Monetary Fund) present 11 chapters and six case studies that examine issues of public and private governance of the financial sector of the world economy. As is to be expected from a project sponsored by the World Bank, the International Monetary Fund, and the Brookings Institution, participants at most recommend a little bit of tinkering with the standard neoliberal agenda of "enhancing informational transparency, contestability of markets, foreign access, [and] shareholder participation." Separate sections look at the role of banks, the public sector, and the capital market in the governance of financial institutions. Annotation c. Book News, Inc., Portland, OR (booknews.com)
Read More
A financial system is only as strong as the governing practices and institutions of its participants. The challenge to build efficient and accountable financial institutions that promote confidence is a problem that private financial sector executives and policymakers confront together. In this context, Financial Sector Governance takes a clinical approach to addressing the challenges in emerging and developed markets in each industry: capital markets, private banks, state-owned banks, asset management companies, public pension funds, and mutual funds. It also explores the linkages between public and private sector governance, and the policy implications for strengthening both sides. Financial Sector Governance emerges from the fourth annual Financial Markets and Development conference, organized by the World Bank, the International Monetary Fund and the Brookings Institution, during which participants from the public and private financial sectors of emerging and developed markets contribute to an expanding dialogue addressing key policy concerns.
Read Less