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Enhancing Private Capital Flows to Developing Countries

image of Enhancing Private Capital Flows to Developing Countries

This publication incorporates the papers and proceedings of a Banking and Financial Services Symposium held in London in July 2002 on Enhancing Private Capital Flows to Developing Countries in the New International Context. Organised in conjunction with the World Bank and the Commonwealth Business Council, its aim was to promote an understanding of the developing country and private sector perspectives in attracting private capital flows; the impact of international codes and standards in defining the perception of the private sector and practical issues regarding their implementation; and the new regulatory developments which are likely to impact on the availability of private capital flows.

English

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International Financial Codes and Standards: An Indian Perspective

The background to the current emphasis upon an integrated framework of Codes and Standards at the international level can be traced to the financial crises in Asia, Russia and Latin America in the last decade. These crises were triggered by the fragility of the financial sector in these countries which was characterised, in particular, by non-transparency, lack of efficient supervisory and regulatory mechanisms, inappropriate market standards and an inadequate legal and institutional infrastructure. While these have generated a number of suggestions for reform in the framework and management of the International Financial System, the current emphasis arising from discussions in the G7 and G20 group of countries has been on Codes and Standards.

English

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