The New Market Global Capital

More today than ever before, the international market for capital is truly global. Governments and firms of rich and poor countries all have access to capital on a range of terms, with a variety of risk profiles, delivered through a bewildering variety of simple or complex financial instruments. How has this changed the way the World economy works? Are these new opportunities a mixed blessing? What are the risks-especially for poor countries? And what role do these broad and deep financial markets leave for official institutions such as The World Bank and IMF-agencies that were conceived to serve a completely different World?

Festival: 2007

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