Financial Crisis: Exit and Reform

The financial crisis has hit economies around the world and prompted both short-term questions about how best to alleviate the worst consequences responsibly and long-term questions about reforming the global financial system.

The Organisation for Economic Co-operation and Development (OECD), an international body of 30 developed countries, recently took a comprehensive look at the current crisis and existing financial institutions and offered a menu of strategy recommendations to help global economic policy managers extricate their economies from the crisis. The foreword to this report (PDF) reads:

Two questions, then, are at the core of this report: How and when can governments safely wind down their emergency measures? And how can we sensibly reform financial markets? The purpose is to draw together and demonstrate the interconnections among a wide range of issues, and in doing so to contribute to global efforts to address these challenges.

The report divides its recommendations into both reforming financial incentives and phasing out emergency measures. The report provides a good resource for students wishing to obtain a deeper understanding the current system of national and international finance.