Y.V. Reddy - Toward a New Global Financial Architecture: Some Issues and Approaches

The video discusses the global financial architecture, emphasizing the need for diversity in public policies and harmonization of fiscal and monetary policies. It highlights issues with soft regulation and suggests minimum standards for all countries. The speaker advocates for a redefined approach to financial regulation, distinguishing between multinational and international banks. The importance of decentralization and diversity is stressed, with a focus on regional institutions. An analytical framework for financial integration is presented, referencing Stiglitz's work. The conclusion emphasizes policy autonomy and space for countries.

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