8 the second challenge pertains to the fact that a

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access to funds for firms and households, and lowers financing costs.” 8 The second challenge pertains to the fact that a “consensus is emerging that the overarching objective of all reforms should be to enhance the resilience of 3 Ibid ., pp. 394-395. 4 Ibid ., p. 396. 5 Ibid ., p. 398. 6 Ibid . 7 Josef Ackermann, “The Global Financial System and the Challenges Ahead,” The Fletcher Forum of World Affairs , Vol. 35, No. 1, Winter 2011, p. 129. 8 Ibid .
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the global financial system.” 9 The third challenge addresses the fact that we need to keep the relationship between regulation and politics in our thoughts, unless if one wants an undesirable shift. 10 Finally the last challenge deals with the idea that other states that were not under the radar of being economic mights, are now become major players in the game, which implies that economic geography are not only at the country level but also at the company level. 11 References Karns, Margaret P. and Mingst, Karen A. International Organizations: The Politics and Processes of Global Governance. 2 nd Ed. Boulder: Lynne Rienner Publishers, 2010. Ackermann, Josef. “The Global Financial System and the Challenges Ahead.” The Fletcher Forum of World Affairs . Vol. 35. No. 1. Winter 2011. 9 Ibid ., p. 130. 10 Ibid ., p. 132. 11 Ibid ., p. 133.
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  • Spring '13
  • Economics, Economic system, International Monetary Fund

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