Abstract
The article reveals the causes of global crisis and formulates measures for regulating the global financial and economic system. Antirecessionary regulation objectives should pursue the formation of sound economy that is not overburdened with debts and fictitious capital. In creating a new financial architecture, a key innovation is a limitation on financial leverage for all enterprises in the financial and real sectors of the economy. This requires a flexible countercyclical system of prudential regulation to compensate for the destructive influence of positive feedbacks on financial markets. It is also necessary to improve the quality of corporate and public governance, to ban the combination of activities that cause unresolvable conflicts of interest. To reduce currency risks, broader use of SDRs is suggested as an international instrument of payments and reserve currency.
Sign-in/Register to access full text options 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
