Out of the debate over the effectiveness of the policy responses to the 2008 global financial crisis as well as over the innovativeness of global governance comes this collection by leading academics and practitioners who explore the dynamics of economic crisis and impact. Edited by Paolo Savona, John J. Kirton, and Chiara Oldani, "Global Financial Crisis: Global Impact and Solutions" examines the nature of the recent crisis, its consequences in major regions and countries, the innovations in the ideas, instruments and institutions that constitute national and regional policy responses, building on the G8's response at its L'Aquila Summit. Experts from Africa, North America, Asia and Europe examine the implications of those responses for international cooperation, coordination and institutional change in global economic governance, and identify ways to reform and even replace the architecture created in the mid 20th century in order to meet the global challenges of the 21st.
Preface; Part I Introduction: Introduction and analysis, John J. Kirton, Chiara Oldani and Paolo Savona.; Part II Solutions in America and Asia: Crisis, response, and innovation in America and abroad, Robert C. Fauver; Crisis, response, and innovation in Asia, Naoki Tanaka; The macroeconomics of the global financial and economic crisis, Libero Monteforte.; Part III Solutions for Europe: Crisis, response and innovation in Europe, Paolo Savona and Chiara Oldani; Europe: from one crisis to the other, Paola Subacchi; Europe's institutional, inflation, investment, and incentive challenges, Carlo A. Bollino.; Part IV Impacts and Responses in the BRICs: Mediating financial instability: China, the BRICs, and continuing rise, Gregory Chin; Russia: impact and response, Victoria Panova; Brazil and Latin America: impact and response, Raffaele Galano.; Part V Impacts and responses in Developing Countries: Sub-Saharan Africa: impact and response, Diery Seck; Africa in the face of the crisis, George M. Furstenberg; The broader impacts on the developing world, Sara Savastano.; Part IV Innovation in Global Economic Governance: From the dollar standard to a supernational money, Pietro Alessandri and Michele Fratianni; The role of international money, Juan Carlos Martinez Oliva; Asymmetries in the international monetary system, Domenico Lombardi.; Part VII From G8 to G20: Reconciling the Gs: the G8, the G5, and the G20 in a world of crisis, Andrew F. Cooper and Andrew Schrumm; The G8, the G20, and civil society, Hugo Dobson; The G8 and the G20: rejuvenated by the crisis, Giorgio La Malfa; The contribution of the G8's 2009 L'Aquila summit, John J. Kirton.; Part VIII Conclusion: Conclusion and recommendations, John J. Kirton; Index.