The Bankers Blacklist

Download or read book The Bankers' Blacklist written by Julia C. Morse and published by Cornell University Press. This book was released on 2022-01-15 with total page 345 pages. Available in PDF, EPUB and Kindle. Book excerpt: In The Banker's Blacklist, Julia C. Morse demonstrates how the Financial Action Task Force (FATF) has enlisted global banks in the effort to keep "bad money" out of the financial system, in the process drastically altering the domestic policy landscape and transforming banking worldwide. Trillions of dollars flow across borders through the banking system every day. While bank-to-bank transfers facilitate trade and investment, they also provide opportunities for criminals and terrorists to move money around the globe. To address this vulnerability, large economies work together through an international standard-setting body, the FATF, to shift laws and regulations on combating illicit financial flows. Morse examines how this international organization has achieved such impact, arguing that it relies on the power of unofficial market enforcement—a process whereby market actors punish countries that fail to meet international standards. The FATF produces a public noncomplier list, which banks around the world use to shift resources and services away from listed countries. As banks restrict cross-border lending, the domestic banking sector in listed countries advocates strongly for new laws and regulations, ultimately leading to deep and significant compliance improvements. The Bankers' Blacklist offers lessons about the peril and power of globalized finance, revealing new insights into how some of today's most pressing international cooperation challenges might be addressed.

Download or read book The Bankers' Blacklist written by Julia C. Morse and published by Cornell University Press. This book was released on 2022-01-15 with total page 258 pages. Available in PDF, EPUB and Kindle. Book excerpt: In The Banker's Blacklist, Julia C. Morse demonstrates how the Financial Action Task Force (FATF) has enlisted global banks in the effort to keep "bad money" out of the financial system, in the process drastically altering the domestic policy landscape and transforming banking worldwide. Trillions of dollars flow across borders through the banking system every day. While bank-to-bank transfers facilitate trade and investment, they also provide opportunities for criminals and terrorists to move money around the globe. To address this vulnerability, large economies work together through an international standard-setting body, the FATF, to shift laws and regulations on combating illicit financial flows. Morse examines how this international organization has achieved such impact, arguing that it relies on the power of unofficial market enforcement—a process whereby market actors punish countries that fail to meet international standards. The FATF produces a public noncomplier list, which banks around the world use to shift resources and services away from listed countries. As banks restrict cross-border lending, the domestic banking sector in listed countries advocates strongly for new laws and regulations, ultimately leading to deep and significant compliance improvements. The Bankers' Blacklist offers lessons about the peril and power of globalized finance, revealing new insights into how some of today's most pressing international cooperation challenges might be addressed.

Download or read book Priests of Prosperity written by Juliet Johnson and published by Cornell University Press. This book was released on 2016-02-25 with total page 311 pages. Available in PDF, EPUB and Kindle. Book excerpt: Priests of Prosperity explores the unsung revolutionary campaign to transform postcommunist central banks from command-economy cash cows into Western-style monetary guardians. Juliet Johnson conducted more than 160 interviews in seventeen countries with central bankers, international assistance providers, policymakers, and private-sector finance professionals over the course of fifteen years. She argues that a powerful transnational central banking community concentrated in Western Europe and North America integrated postcommunist central bankers into its network, shaped their ideas about the role of central banks, and helped them develop modern tools of central banking. Johnson's detailed comparative studies of central bank development in Hungary, the Czech Republic, Slovakia, Russia, and Kyrgyzstan take readers from the birth of the campaign in the late 1980s to the challenges faced by central bankers after the global financial crisis. As the comfortable certainties of the past collapse around them, today’s central bankers in the postcommunist world and beyond find themselves torn between allegiance to their transnational community and its principles on the one hand and their increasingly complex and politicized national roles on the other. Priests of Prosperity will appeal to a diverse audience of scholars in political science, finance, economics, geography, and sociology as well as to central bankers and other policymakers interested in the future of international finance, global governance, and economic development.

Download or read book Who Elected the Bankers? written by Louis W. Pauly and published by Cornell University Press. This book was released on 1997 with total page 208 pages. Available in PDF, EPUB and Kindle. Book excerpt: Ch. 1. Global Markets and National Politics -- Ch. 2. The Political Economy of International Capital Mobility -- Ch. 3. The League of Nations and the Roots of Multilateral Oversight -- Ch. 4. The Transformation of Economic Oversight in the League -- Ch. 5. Global Aspirations and the Early International Monetary Fund -- Ch. 6. The Reinvention of Multilateral Economic Surveillance -- Ch. 7. The Political Foundations of Global Markets.

Download or read book Law, Economics, and Conflict written by Kaushik Basu and published by Cornell University Press. This book was released on 2021-08-15 with total page 159 pages. Available in PDF, EPUB and Kindle. Book excerpt: In Law, Economics, and Conflict, Kaushik Basu and Robert C. Hockett bring together international experts to offer new perspectives on how to take analytic tools from the realm of academic research out into the real world to address pressing policy questions. As the essays discuss, political polarization, regional conflicts, climate change, and the dramatic technological breakthroughs of the digital age have all left the standard tools of regulation floundering in the twenty-first century. These failures have, in turn, precipitated significant questions about the fundamentals of law and economics. The contributors address law and economics in diverse settings and situations, including central banking and the use of capital controls, fighting corruption in China, rural credit markets in India, pawnshops in the United States, the limitations of antitrust law, and the role of international monetary regimes. Collectively, the essays in Law, Economics, and Conflict rethink how the insights of law and economics can inform policies that provide individuals with the space and means to work, innovate, and prosper—while guiding states and international organization to regulate in ways that limit conflict, reduce national and global inequality, and ensure fairness. Contributors: Kaushik Basu; Kimberly Bolch; University of Oxford; Marieke Bos, Stockholm School of Economics; Susan Payne Carter, US Military Academy at West Point; Peter Cornelisse, Erasmus University Rotterdam; Gaël Giraud, Georgetown University; Nicole Hassoun, Binghamton University; Robert C. Hockett; Karla Hoff, Columbia University and World Bank; Yair Listokin, Yale Law School; Cheryl Long, Xiamen University and Wang Yanan Institute for Study of Economics (WISE); Luis Felipe López-Calva, UN Development Programme; Célestin Monga, Harvard University; Paige Marta Skiba, Vanderbilt Law School; Anand V. Swamy, Williams College; Erik Thorbecke, Cornell University; James Walsh, University of Oxford. Contributors: Kimberly B. Bolch, Marieke Bos, Susan Payne Carter, Peter A. Cornelisse, Gaël Giraud, Nicole Hassoun, Karla Hoff, Yair Listokin, Cheryl Long, Luis F. López-Calva, Célestin Monga, Paige Marta Skiba, Anand V. Swamy, Erik Thorbecke, James Walsh

Download or read book Workers without Borders written by Ines Wagner and published by Cornell University Press. This book was released on 2018-11-15 with total page 112 pages. Available in PDF, EPUB and Kindle. Book excerpt: How the European Union handles posted workers is a growing issue for a region with borders that really are just lines on a map. A 2008 story, dissected in Ines Wagner’s Workers without Borders, about the troubling working conditions of migrant meat and construction workers, exposed a distressing dichotomy: how could a country with such strong employers’ associations and trade unions allow for the establishment and maintenance of such a precarious labor market segment? Wagner introduces an overlooked piece of the puzzle: re-regulatory politics at the workplace level. She interrogates the position of the posted worker in contemporary European labour markets and the implications of and regulations for this position in industrial relations, social policy and justice in Europe. Workers without Borders concentrates on how local actors implement European rules and opportunities to analyze the balance of power induced by the EU around policy issues. Wagner examines the particularities of posted worker dynamics at the workplace level, in German meatpacking facilities and on construction sites, to reveal the problems and promises of European Union governance as regulating social justice. Using a bottom-up approach through in-depth interviews with posted migrant workers and administrators involved in the posting process, Workers without Borders shows that strong labor-market regulation via independent collective bargaining institutions at the workplace level is crucial to effective labor rights in marginal workplaces. Wagner identifies structures of access and denial to labor rights for temporary intra-EU migrant workers and the problems contained within this system for the EU more broadly.

Download or read book Banking on Growth Models written by Stephen Bell and published by Cornell University Press. This book was released on 2022-05-15 with total page 306 pages. Available in PDF, EPUB and Kindle. Book excerpt: Banking on Growth Models contends that China's rapid economic rise from the late 1970s to today has been built on and shaped by a highly politicized and inefficient bank-centric financial system. Stephen Bell and Hui Feng argue that if the Chinese growth model drives how key economic sectors interact, no amount of incremental reform can have much impact on the financial system—meaningful reform can stem only from a revised growth model. For a time after the global financial crisis, it appeared that the expansion of a more market-oriented shadow banking system might help sustain China's economic growth. Since around 2015, however, Xi Jinping's regime has reversed this trajectory and placed China's financial system under heavy state control, resulting in slowed economic development and skyrocketing national debt. China's market transition and economic rebalancing are now in doubt, as is the fate of the nation's economy. By pinpointing finance as a vital element of the growth model, Bell and Feng provide a convincing assessment of financial risks and the prospects for economic rebalancing in China. Banking on Growth Models demystifies the world of Chinese banking and finance as it investigates an ever-rising national debt, a declining rate of economic growth, and the possibility of dire and drastic reform by the Asian superpower's government.