Rethinking Bretton Woods | Fri, Jul 1, 2011
The need for a development approach based on trade to be accompanied by a number of complementary financial policies may sound too obvious. However, in the decades since trade became the development mantra, the need for a holistic consideration that jointly addresses both trade and financial reforms geared to support development have emerged in the international development policy agenda only sporadically. The attempts to reconnect trade and finance and place them in a more coherent framework were with no exception characterized by their limited scope or for being placed in ineffective vehicles--- or for both at the same time.
In this paper, Aldo Caliari highlights some key issues that are financial in substance and belong into the financial regulation agenda but, yet, are crucial to the success of developing countries pursuing trade-led development. Because of that, one argument this paper advances is that a trade-led development lens, applied to the analysis and design of such financial regulatory issues could color them in positive directions.