Kevin P. Gallagher, part of our 2011 Spotlight G20 Series The absence of a global regime to prevent and mitigate financial crises and a reluctance to resort to the International Monetary Fund for assistance has led emerging market and developing countries to accumulate vast sums of foreign reserves as an act of ‘self-insurance’. If a … Continue reading Spotlight G20: Beyond the G20: Mitigating the Costs of Global Imbalances in the Absence of Global Coordination