Open Access. Powered by Scholars. Published by Universities.®
Articles 1 - 2 of 2
Full-Text Articles in Law
Intra-African Investment – A Pressing Issue, Lise Johnson, Shawn Pelsinger
Intra-African Investment – A Pressing Issue, Lise Johnson, Shawn Pelsinger
Columbia Center on Sustainable Investment Staff Publications
Intra-African investment is a critical source of growth for the continent, but is often overlooked. Africa Investor, together with the Vale Columbia Center on Sustainable Investment, reveals intra-African foreign direct investment is a rapidly growing phenomenon.
Governing Interdependent Financial Systems: Lessons From The Vienna Initiative, Katharina Pistor
Governing Interdependent Financial Systems: Lessons From The Vienna Initiative, Katharina Pistor
Faculty Scholarship
Financial markets have become globally interdependent, yet their governance has remained national at the core. This friction encumbers crisis management and distorts incentives for crisis prevention. The Vienna Initiative, formed to manage the fallout from the global crisis in the countries of Central and Eastern Europe (CEE), offers an alternative coordinated, multi-stakeholder governance framework. A critical prerequisite for such a regime is a coordinating agent, or ‘anchor tenant’, that is deeply vested in the stability of transnational financial systems, but does not directly compete with market actors or regulators. Lessons for more effective governance of financial interdependence are discussed.