International Financial Governance: The Role of the BRIC Countries
- DOI
- 10.2991/icmcs-18.2018.10How to use a DOI?
- Keywords
- BRICS countries; Global governance; International financial governance; Capacity cooperation
- Abstract
The BRICS countries represent the emerging economies that have attracted the most attention in the development of the world today. Since the establishment of the BRICS cooperation mechanism, finance has been one of the most prominent areas of cooperation. With the vigorous promotion by the BRICS, the BRICS New Development Bank has been put into operation. The BRICS foreign exchange reserve pool has also been set up. The BRICS countries have the basic conditions that affect the structure of international financial governance. Starting with the dilemma of international financial governance and the role of BRICS countries, this paper analyzes the international financial situation and the constraints faced by BRICS countries from the perspectives of the international monetary system and the discourse power of international financial institutions. After reviewing the achievement of the cooperation in the financial field since the establishment of cooperative mechanism of the BRICS countries , a breakthrough point has been put forward to further strengthen financial cooperation for the future. In the future, BRICS countries can coordinate their monetary policies to cope with the impact of international capital flows and make use of new concepts such as green finance for project financing, promoting the capacity cooperation among countries through financial cooperation at the same time.
- Copyright
- © 2018, the Authors. Published by Atlantis Press.
- Open Access
- This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).
Cite this article
TY - CONF AU - Changjiang Yu PY - 2018/10 DA - 2018/10 TI - International Financial Governance: The Role of the BRIC Countries BT - Proceedings of the 8th International Conference on Management and Computer Science (ICMCS 2018) PB - Atlantis Press SP - 50 EP - 55 SN - 2352-538X UR - https://doi.org/10.2991/icmcs-18.2018.10 DO - 10.2991/icmcs-18.2018.10 ID - Yu 2018/10 ER -