International Financial Reform: Implementation & Implication (Business Economics in a Rapidly-changing World)

The United States has played an active role in helping to reform financial regulations to address weaknesses revealed by the 2007-2009 financial crisis. According to Treasury officials, during the acute phase of the crisis, the United States proposed elevating the Group of Twenty (G20) forum -- representing 19 countries (including the United States) and the European Union -- from the level of finance ministers and central banks to the level of heads of state or government. This book discusses the U.S. role in the international financial reform efforts; and the implementation status of recent international financial reforms in the United States relative to other countries and challenges that uneven implementation may present. It also analyses why countries coordinate economic policies and the historical origins of the G-20; how the G-20 operates; major highlights from previous G-20 summits, plus an overview of the agenda for the next G-20 summit; and debates about the effectiveness of the G-20 as a forum for economic cooperation and coordination.