Financial liberalisation has created volatility in financial markets, threatening the orderly running of national economies. Taming Global Financial Flows: a Citizen’s Guide by Kavaljit Singh, Coordinator of the Public Interest Research Centre, Delhi, explains and analyses the rapidly changing world of global finance and calls for radical reforms. It covers many aspects of the financial system, including capital account liberalisation, hedge funds, tax havens, capital controls and the international financial institutions. Singh sets out guiding principles for a more stable financial architecture and recommends concrete reform measures.
The IMF and the World Bank are increasingly engaged with the challenge of addressing how tax avoidance and evasion affect developing countries, but need to address the role played by multinational enterprises and tax havens in exacerbating inequality and undermining countries’ domestic revenues.
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