FINANCIAL STABILITY
Financial shocks occur with increasing frequency in the integrated world economy, threatening the stability of financial systems, economic growth, long-term development and the well-being of individuals and businesses worldwide. It is therefore fundamental to have tools and policies in place not only to prevent the occurrence of financial shocks but also to mitigate their negative impact and contagion when they do occur.
The Global Economic Governance Initiative’s workstream on Financial Stability for Development examines the extent to which nation-states and international institutions interact to prevent and mitigate financial crises. Its research assesses whether the Global Financial Safety Net (GFSN) is fit for purpose in terms of size, policies and coverage; evaluates the effectiveness and role of informal institutions in managing sovereign debt workouts and ensuring orderly and equitable resolutions; and examines how a country’s own macroprudential policies and regional cooperation can also help manage financial risks.
Financial Stability – Latest News & Publications
-
What is in the Financing for Development Zero Draft, and What Does It Mean for Global Economic Governance Reform?
January 29, 2025By Tim Hirschel-Burns In late June, the Fourth International Conference on Financing for Development (FfD4) will take place in Seville, Spain. Despite challenging geopolitical circumstances, the... [ More ]
-
Five Realistic Goals for Global Economic Governance in 2025
December 18, 2024By Tim Hirschel-Burns 2025 admittedly presents a dubious landscape for achieving substantive global economic governance reforms. The scale of needs is large—achieving development and climate goals... [ More ]
-
Around the Halls: A Year in Review and Look Ahead to 2025
December 18, 2024The most notable milestone of 2024 was the 80th anniversary of the Bretton Woods institutions of the International Monetary Fund (IMF), World Bank and World... [ More ]
-
Advancing Climate Policy at the IMF
December 17, 2024While the macroeconomic significance of climate change has been understood in academic scholarship for a long time, policy engagement on this topic is rather new. While... [ More ]
-
Webinar Summary – Feminism in Public Debt: A Human Rights Approach
December 04, 2024By Praveena Bandara On November 7, 2024, the Boston University Global Development Policy Center (GDP Center) hosted Marina Zucker-Marques, Senior Academic Researcher at the GDP Center, and... [ More ]
-
Better Understanding the Renminbi’s Internationalization
November 18, 2024By Marina Zucker-Marques In the evolving landscape of international finance, the internationalization of China's currency, the renminbi, has become a focal point of discussion. While this... [ More ]
-
Currency Internationalization, Payment Infrastructures and Central Banks: An Institutional Analysis of Renminbi Internationalization
November 18, 2024What role do central banks play in designing cross-border payment infrastructure as part of a broader agenda of currency internationalization? In a new journal article published... [ More ]
-
GDP Center Round-Up: 29th United Nations Climate Change Conference (COP29)
November 13, 2024By Tim Hirschel-Burns The 29th United Nations Climate Change Conference (COP29), taking place from November 11-29, 2024 in Baku, Azerbaijan, has been dubbed the “Finance COP”... [ More ]
-
A Golden Opportunity: Selling a Small Share of the IMF’s Gold Reserves to Replenish the Catastrophe Containment and Relief Trust
November 13, 2024The International Monetary Fund (IMF) holds 90.5 million ounces of gold on its balance sheet, a legacy from its founding in 1944, when member countries... [ More ]
-
Webinar Summary – Climate, Development and International Financial Institutions: Perspectives from the Global South
November 07, 2024By Samantha Igo On Tuesday, October 22, 2024, the Boston University Global Development Policy Center and Global Economy and Development at the Brookings Institution co-hosted a... [ More ]