The IMF's rethink of global banks: Critical in theory, orthodox in practice

Gabor, D. (2015) The IMF's rethink of global banks: Critical in theory, orthodox in practice. Governance, 28 (2). pp. 199-218. ISSN 0952-1895 Available from: http://eprints.uwe.ac.uk/23993

Full text not available from this repository

Publisher's URL: http://dx.doi.org/10.1111/gove.12107

Abstract/Description

The International Monetary Fund's (IMF) new financial interconnectedness agenda, developed in response to postcrisis calls from G20 to better understand systemic financial institutions, deploys a critical approach that stresses the spatial, political, and institutional dimensions of cross-border financial networks. It portrays global banks as key nodes in those networks, “super-spreaders” of systemic risk through complex business models that involve yield search, regulatory and tax arbitrage. Yet this critical view does not translate into its policy advice at country level. In regular surveillance of developing countries, the IMF remains committed to a benign view of transnational banking, even when confronted with growing cross-border fragilities. During crises of cross-border banking, the IMF tailors its conditionality to minimize domestic regulatory challenges to cross-border banking models and to propose crisis measures that create new profit opportunities for transnational banks.

Item Type:Article
Uncontrolled Keywords:IMF, global banks, critical, theory, orthodox
Faculty/Department:Faculty of Business and Law > Department of Accounting, Economics and Finance
ID Code:23993
Deposited By: Dr D. Gabor
Deposited On:01 Oct 2014 09:25
Last Modified:15 Nov 2016 23:11

Request a change to this item