Taming Global Financial Flows :...

Taming Global Financial Flows :...

Publisher
Madhyam
Published
2000
Pages
—
ISBN-13
9788186816127
Format
print
Language
English
Book Summary
Kavaljit Singh's 'Taming Global Financial Flows' offers a critical analysis of international financial regulation, examining capital controls, tax havens, and speculative flows. It argues for democratic oversight of global finance to prevent crises and promote stability, making a case for policy space in developing economies. This book is essential for understanding the political economy of financial globalization.
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About Taming Global Financial Flows :...

In 'Taming Global Financial Flows', Kavaljit Singh provides a rigorous critique of the global financial architecture, tracing the evolution of capital account liberalization and its consequences. He explores how unregulated financial flows contribute to volatility, inequality, and crises, and evaluates various regulatory mechanisms, including capital controls, Tobin taxes, and international cooperation. Drawing on case studies from Asia, Latin America, and beyond, Singh argues that developing countries need policy autonomy to manage capital flows effectively. The book also examines the roles of institutions like the IMF and the challenges of tax evasion and money laundering. Ultimately, it presents a compelling case for democratic governance of finance to serve broader social and economic goals, rather than narrow market interests.

Who should read Taming Global Financial Flows :...?

This book is essential for students and scholars of international political economy, development studies, and finance. Policymakers, central bankers, and regulators will find valuable insights into capital flow management. Activists and NGOs advocating for financial reform and global justice will benefit from its analysis. Additionally, anyone interested in understanding the roots of financial crises and the debate over globalization will find this accessible and thought-provoking.

Pros & Cons
Pros
  • ✓ Provides a comprehensive overview of global financial regulation debates
  • ✓ Offers concrete policy alternatives and case studies
  • ✓ Written in an accessible style for non-specialists
  • ✓ Critically examines the role of international institutions
  • ✓ Highlights the importance of policy space for developing countries
Cons
  • ✗ Some readers may find the economic terminology challenging
  • ✗ The focus on developing countries may limit its appeal to some
  • ✗ Lacks detailed quantitative analysis in places
  • ✗ Could benefit from more recent examples given rapid financial innovation
  • ✗ The ideological stance may not appeal to free-market advocates
Frequently asked questions
What is the main argument of the book?
The book argues that unregulated global financial flows create instability and that democratic control mechanisms, including capital controls, are necessary to prevent crises and promote equitable development.
Is this book suitable for beginners in economics?
Yes, while it deals with complex topics, the author writes in an accessible manner, making it suitable for readers with a basic understanding of economics.
Does the book provide solutions to financial crises?
Yes, it discusses various regulatory tools and policy measures, such as capital controls and international cooperation, to manage financial flows and reduce crisis risk.
What regions are covered in the case studies?
The book includes case studies from Asia, Latin America, and other developing regions, illustrating the impact of financial globalization.
How does this book relate to current debates on globalization?
It offers a critical perspective on financial globalization, contributing to ongoing discussions about reforming the global financial system and enhancing national policy space.

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