The Stiglitz Report: Reforming the International Monetary and Financial Systems in the Wake of the Global Crisis is a book on economics written by Nobel Laureate economist
Joseph Stiglitz
Joseph Eugene Stiglitz (; born February 9, 1943) is an American New Keynesian economist, a public policy analyst, and a full professor at Columbia University. He is a recipient of the Nobel Memorial Prize in Economic Sciences (2001) and the Joh ...
, documenting the necessary changes and reforms of the international financial institutions in the wake of the
financial crisis of 2007–2008, and the subsequent
Great Recession arisen from it.
In October 2008, the President of the
General Assembly of the United Nations,
Miguel d'Escoto Brockmann, established the "Commission of Experts of the President of the UN General Assembly on Reforms of the International Monetary and Financial System" chaired by author and Nobel Laureate economist
Joseph E. Stiglitz. This commission had the aim of proposing necessary reforms in the world financial system that would prevent another event like the
financial crisis of 2007–2008. The report frames the crisis as part of a series of simultaneous crisis, those of
energy crisis,
food crisis
Food is any substance consumed by an organism for nutritional support. Food is usually of plant, animal, or fungal origin, and contains essential nutrients, such as carbohydrates, fats, proteins, vitamins, or minerals. The substance is inge ...
,
water scarcity, and sustainability.
Besides Stiglitz, members of the commission included
Andrei Bougrov,
Yousef Boutros-Ghali,
Jean-Paul Fitoussi,
Charles Goodhart,
Robert Johnson,
Jomo Kwame Sundaram,
Benno Ndulo Benno may refer to:
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* (927–940), saint
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*Benno I of Osnabrück (bishop, 1052–1067)
*Benno of Meissen (bishop, 1066–1106), saint
*Benno II of Osnabrück (bishop, 1068–1088)
*Benno of Santi Martino e Silvestro ( ...
,
José Antonio Ocampo,
Pedro Páez,
Avinash Persaud,
Yaga Venugopal Reddy
Yaga Venugopal Reddy (born 17 August 1941) is an Indian economist and a retired Indian Administrative Service (IAS) officer of the 1964 batch belonging to Andhra Pradesh cadre. Reddy served as governor of the Reserve Bank of India (RBI), India's ...
,
Rubens Ricupero,
Eisuke Sakakibara
Eisuke (written: 永輔, 英輔, 英介, 栄介, 英助 or エイスケ in katakana) is a masculine Japanese given name. Notable people with the name include:
*, Japanese voice actor
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,
Chukwuma Soludo,
Heidemarie Wieczorek-Zeul,
Yu Yongding
Yu Yongding (余永定) is a Chinese economist, with widely recognized influence in Chinese economic policy debates.
Biography and academic career
Yu was born in Nanjing in November 1948 in a family with ancestry from Taishan, Guangdong. He gra ...
and
Zeti Akhtar Aziz.
Jan Kregel acted as rapporteur.
The report goes through four main topics:
# Macroeconomic Issues and Perspectives
# Reforming Global Regulation to Enhance Global Economic Stability
# International Institutions
# International Financial Innovations
The concluding comments of the report blame flawed policies as well as unsound economic philosophies for the crisis. The report advocates for the global community to "work for a robust and sustainable recovery" and for changes that support "long-term, democratic, equitable, stable, and
sustainable growth".
References
External links
* The Stiglitz Report, The New Press, New York, 2010,
* {{cite book , title= Report of the Commission of Experts of the President of the United Nations General Assembly on Reforms of the International Monetary and Financial System , publisher= United Nations , place= New York , date= September 21, 2009 , url= http://www.un.org/ga/econcrisissummit/docs/FinalReport_CoE.pdf
* http://www.un.org/ga/president/63/commission/background.shtml
Great Recession
Books by Joseph Stiglitz