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Transparency as the Essential Element of the New International Financial Architecture
Języki publikacji
Abstrakty
Przedstawiono zagadnienie przejrzystości jako jednego z głównych filarów nowej międzynarodowej architektury finansowej. Omówiono przejrzystość w sektorze publicznym, sektorze międzynarodowych instytucji finansowych oraz sektorze prywatnym.
The last decade of the XX century was the period of severe financial crisis in different parts of the world (Asia. America, Russia). Those events caused the beginning of the discussion about a reform of the international financial system through establishing the New International Financial Architecture (NIFA). NIFA can be defined as organizing and shaping the space of the global financial system through standards, codes, procedures, norms which were developed through the cooperation among governments, international organizations, institutions and private sector in order to ensure the stability of the international financial system. Onе of the most important element of the NIFA is transparency (other are: the crisis prevention and resolution and strengthening financial systems) especially in the three sectors: public. International Financial Institutions and private. Transparency means public disclosure of reliable and current information (by different corporations, institutions, government) ensuring proper estimating of their condition (especially financial) and risks. Transparency in the public sector concerns transparency in fiscal and monetary policies, in external debt and in the international foreign currency liquidity position of a country. Transparency in International Financial Institutions treats especially the International Monetary Fund (but also World Bank. IADB. EBRD) and takes place through increasing in the publication rates of documents, including reports, agendas and papers. Transparency in the private sector refers to corporations and financial institutions. For corporations especially important are: enhancing corporate governance disclosures and promoting the use of International Accounting Standards. In the field of financial institutions the preparation of many codes and principles is observed (for instance the efforts of the Basel Committee). It should be emphasized that transparency could help financial markets to work more efficiently and could contribute to international financial stability and to economic growth. (original abstract)
Rocznik
Strony
397--405
Opis fizyczny
Twórcy
- Akademia Ekonomiczna im. Karola Adamieckiego w Katowicach
Bibliografia
- De Las Casas M., De Lis S.F., Gonzalez-Mota E., Mira-Salama C.: A Review of Progress in the Reform of the International Financial Architecture Since the Asian Crisis, Documentos Ocasionales, nr. 0407/2004, Banco de España, s. 17.
- Kopaliński W.: Słownik wyrazów obcych i zwrotów obcojęzycznych, http://www.slownik-online.pl.
- Fidrmuc J., Schardax F.: Increasing integration of applicant countries into international fur markets: implications for monetary and financial stability, Bank for International Settle Conference Papers No. 8, March 2000, s. 92.
- Kiedrowska M., Marszałek P.: Stabilność finansowa - pojęcie, cechy i sposoby jej zapewnienia, "Bank i Kredyt" nr 4/2002, s. 22.
- Kurs: Bankowość, Rozdział 1: Uwarunkowania współczesnej bankowości, http://www.kursy.nbponal.pl.
- Zasady nadzoru korporacyjnego OECD, Ministerstwo Skarbu Państwa, 1999, s. 16.
- Koterwas M.: Bazylejski Komitet ds. Nadzoru Bankowego i jego wpływ na kształt nadzoru bankowego na świecie, "Bank i Kredyt", nr 10/2003, s. 60.
Typ dokumentu
Bibliografia
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Identyfikator YADDA
bwmeta1.element.ekon-element-000171265357