The Integration of Developing Countries Into International Financial Markets: Remarks from the Perspective of an Economic Ethics
In this paper the co-responsibility of the North for the development of the South, the chance of an authentic development and Rawls’s maximin rule are indicated as the ethical perspectives from which the financial integration of developing countries will be evaluated. It follows a brief economic ana...
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| Format: | Electronic Article |
| Language: | English |
| Check availability: | HBZ Gateway |
| Journals Online & Print: | Drawer...
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| Fernleihe: | Fernleihe für die Fachinformationsdienste |
| Published: |
Cambridge Univ. Press
2003
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| In: |
Business ethics quarterly
Year: 2003, Volume: 13, Issue: 3, Pages: 337-359 |
| Online Access: |
Volltext (JSTOR) Volltext (lizenzpflichtig) Volltext (lizenzpflichtig) |
| Summary: | In this paper the co-responsibility of the North for the development of the South, the chance of an authentic development and Rawls’s maximin rule are indicated as the ethical perspectives from which the financial integration of developing countries will be evaluated. It follows a brief economic analysis of possible problems of high inflows of portfolio investments for developing countries. They become more vulnerable to financial and monetary crises and their domestic banking systems are weakened by a higher risk of devaluation. This will lead to an outline of the goals for reshaping the financial integration: among others limitation of capital inflows, strengthening of the domestic banking system and further development of the country’s particular economic style. Finally some regulations of external financial relations and the proposal of a cooperative monetary arrangement between the South and the North are discussed as possible measures to improve this integration. |
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| ISSN: | 2153-3326 |
| Contains: | Enthalten in: Business ethics quarterly
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| Persistent identifiers: | DOI: 10.5840/beq200313325 |