International Finance

Other Report

Global Imbalances, National Rebalancing, and the Political Economy of Recovery

Author: Jeffry A. Frieden

In this CGS/IIGG Working Paper, Jeffry A. Frieden reviews the historical record on the political fallout from the unraveling of macroeconomic imbalances. He warns that the coming adjustments may test the capacity of national governments and international institutions to maintain an open international economic order.

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Other Report

The Gloomy Prospects for World Growth

Author: Steven Dunaway

In this Center for Geoeconomic Studies Working Paper, Steven Dunaway argues that the world economy faces the prospect of a prolonged period of slower growth. Other sources of demand need to be found to take up the slack left by slower U.S. growth. However, the prospects for this do not look good, as none of the other major economies appear inclined to make the necessary changes in policies to deal with their imbalances and raise their demand.

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Primary Sources

Basel Accord

Sets down the agreement among the G-10 central banks to apply common minimum capital standards to their banking industries, to be achieved by end-year 1992. The standards are almost entirely addressed to credit risk, the main risk incurred by banks.

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