[CivilSoc] Invitation- eForum on Intnl. Financial Stability- BASEL II: ACCORD OR DISCORD? (26 May to 14 June 2004)

[Vikas Nath]

Dear Colleagues,
We invite you to participate in the upcoming eForum on the new basel accord, 
"BASEL II: ACCORD OR DISCORD?" hosted by the global public goods Network (gpgNet). http://www.gpgnet.net/topic07.php 
The eForum will be open from 26 May 2004 until 14 June 2004. 
To subscribe to this forum, send a blank email to:
subscribe-gpgnet-basel at groups.undp.org  or, go to:
http://groups.undp.org/read/all_forums/subscribe?name=gpgnet-basel
The new Basel Accord (Basel II) aims to more accurately align regulatory capital with 
the risks that international banks face. More broadly, the Accord is intended to be an  
important element in the provision of the GPG of international financial stability  
and market efficiency. However concerns have arisen that these regulations will  
have adverse effects in developing countries. Stephany Griffith-Jones, Research  
Fellow and Professor at the Institute of Development Studies, has argued that some  
aspects of Basel II could harm developing countries. She states that the Basel II  
proposals would, among other things, significantly overestimate the risk of  
international bank lending to developing economies, possibly leading to a decline  
in flows to the developing world. 
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The following points for debate are suggested- to address the impact of Basel II in  
developing countries: 
* What specific effects will the New Basel Accords have on developing countries? 
* What measures could be introduced in order to reduce potential negative effects,  
namely to take account of diversification of risk? 
* Why have measures to curb the potential negative impact of Basel II on developing  
countries NOT been taken, despite inaction being described as ".technically wrong,  
economically unwise and politically insensitive"? 
* Given that Basel II is set to be implemented this year despite present criticisms,  
what is the best next step?  
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To aid debate on the topic, read a note by Professor Griffith-Jones detailing the  
potential harmful effects to developing countries of Basel II at  
http://www.ids.ac.uk/ids/news/Archive/Baselmistakes.html and a technical paper  
that she co-authored on the same subject available at  
http://www.gpgnet.net/pdfs/basel_griffith_jones.pdf 
Please join us for this debate and share with us - and the global public- your  
observations on this topic.   
Inge Kaul  
Director  
Office of Development Studies 
Vikas Nath 
Manager 
global public goods Network (gpgNet) Forum 
United Nations Development Programme 
336 East 45 Street 
New York NY 10017 USA 
Email: info at gpgnet.net 
URL: http://www.gpgNet.net 
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26 May- 14 June 2004: gpgNet Forum on "BASEL II: Accord or Discord?"
To subscribe to this forum, send a blank email to: 
subscribe-gpgnet-basel at groups.undp.org  or, go to:
http://groups.undp.org/read/all_forums/subscribe?name=gpgnet-basel
Read background paper to the forum at http://www.gpgnet.net/topic07.php 
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