Global Prosperity Wonkcast

 

Posts Tagged: Regulation

 

Macroprudential Regulation and Developing Countries: Liliana Rojas-Suarez

March 7, 2011

Posted by in Economic Growth, Finance, Global Development, International Financial Institutions, Private Investment Tags: , , ,

Liliana Rojas-SuarezRegulators at the Bank for International Settlements (BIS) in Basel, Switzerland, are hard at work designing regulatory standards to avoid future financial meltdowns like the global financial crisis of 2008. Joining them for two months is Liliana Rojas Suarez, a CGD senior fellow and the founding chair of the Latin American Shadow Financial Regulatory Committee.

I spoke with Liliana just before she left for Basel about macroprudential regulation—an approach that focuses on the systemic risks arising from the collective action of financial institutions. (Liliana had spoken about this at a recent CGD Research in Progress staff meeting; her slides are a useful adjunct to our Wonkcast discussion.)
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Paul Romer’s Bold New Idea for Charter Cities

April 26, 2010

Posted by in Economic Growth, Global Development, Globalization, Governance/Democracy, Migration and Development, Population and Development Tags: , , , ,

Paul RomerThe planet’s population will swell by two to three billion people over the next few decades. Where will all those people live? My guest on this week’s Global Prosperity Wonkcast has a bold new idea. Paul Romer is a senior fellow at the Stanford Institute for Economic Policy Research, a non-resident fellow here at the Center for Global Development, and one of the world’s leading growth economists. He is proposing brand new cities—he calls them ‘charter cities’—built from the ground up with sound rules designed to promote swift development.

The two ideas at the heart of Paul’s proposal are, first, that good rules are fundamental to development and, second, that new cities might be able to draw their rules, people, and land from different sources. He argues that inadequate property rights, legal systems, and other types of rules hold back development in poor countries. If the residents of a poor country could choose to live in a new city, governed by the rules of a well-functioning country, they might benefit enormously. If good rules are in place, Paul says, where that city is located doesn’t matter much.

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Beyond Microfinance: Principles of Access to Finance

November 13, 2009

Posted by in Economic Growth, Global Development, Private Investment Tags: , , , , ,

On this edition of the Wonkcast, I am joined by senior fellow Liliana Rojas-Suarez, who discusses her work as co-chair of the CGD Task Force on Access to Financial Services. Financial regulation—and access—is a hot topic right now, as countries try to reduce the chance of future financial crises, while also ensuring access to financial services. The US House and Senate are currently wrestling with exactly what a revamped US regulatory system should look like.

Liliana explains that the balance between financial stability and increased access to finance is at the root of these debates, and in fact was central to the financial collapse itself. “Even in the United States,” she explains, “many people did not have sufficient access to finance, and, well, nobody wanted to stop the provision of financial services. And that was creating a bubble that ended up in the largest crisis that we have seen in recent history.”

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