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ISSN (Print) 1996-7845

ISSN (Online) 2542-2081


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Postal address:  11 Pokrovsky Boulevard, Moscow, Russia, 109028
National Research University Higher School of Economics
International Organisations Research Journal (IORJ) editors office

Actual addressOffice 308, 33, Profsoyuznaya street, bld. 4, Moscow, 117418


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E-mail: iorj@hse.ru

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Andrei Shelepov1
  • 1 RANEPA, 11 Prechistenskaya naberezhnaya, 119034, Moscow, Russian Federation

New Tools for Global Regulation of Non-banking financial sector of the World Economy

2011. Vol. 6. No. 4. P. 40–60 [issue contents]

The paper analyses the development of global governance mechanisms in the non-banking segment of the world economy’s banking sector. Considerable changes have been taking place in this sphere, promoted by the growing activity of the key international institutions after the outbreak of the world financial and economic crisis. The objective of the analysis was to register these changes in order to identify possible ways of the global regulatory system development in the future. Reforms in five areas have been studied: over-the-counter derivatives, hedge-funds, credit-rating agencies, International Financial Reporting Standards, systemically important financial institutions. Results of the analysis suggest that development and implementation of new mechanisms face obstacles. Examination of the problems reveals their causes, which can lie both in late or inadequate actions of international institutions and inadequate compliance with the recommendations fulfillment at national level. The study allows make a forecast concerning the forms and timing of global governance changes in the non-banking segment of the banking sector of the world economy.

Citation: Shelepov Andrei Vladimirovich (2011) Novye instrumenty global'nogo regulirovaniya v nebankovskom segmente finansovogo sektora mirovoy ekonomiki [New Tools for Global Regulation of Non-banking financial sector of the World Economy] INTERNATIONAL ORGANISATIONS RESEARCH JOURNAL, 4, pp. 40-60 (in Russian)
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