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.

What are the key points made regarding the need for a global framework of financial regulation?

Discuss the implications of having diverse public policies in different parts of the world.

What is the argument for prescribing minimum regulation for all countries?

How do multinational banks differ from international banks in terms of regulation?

What are the potential risks associated with soft regulation in financial sectors?

Explain the concept of circuit breakers in the context of financial regulation.

What are the fundamental assumptions behind the risks and benefits of deregulation in the financial sector?