Publication

This paper explores whether policies to decentralize the global financial infrastructure have been implemented as planned following financial crisis in Asia (1997-98) and globally (2008-09). The author argues that complacency after the crises, reluctance by national governments, and the weak cohesion in BRICS countries, have hindered the implementation of many of the proposed global reforms. In concluding, he outlines some possibilities for regulating the global financial market in the future.