House of Representatives Committees

Standing Committee on Economics, Finance and Public Administration

Inquiry into the international financial market effects on government policy

Report

The Committee tabled its report International financial markets: friends or foes? on 26 March 2001. Copies of sections of the report in PDF follow as well as a copy of the full report as a PDF document (345KB). Hardcopies of the full report are available from the Committee Secretariat.

(To view or print the PDF document, you will require the Acrobat PDF Reader, which can be downloaded free of charge from Adobe.®)

List of recommendations

Government response: September 2001 (PDF 1323KB)

Table of contents of report: International financial markets: friends or foes?

FRONT SECTION (PDF format 38KB)

(This document contains the sections of the report from the Foreword to the List of recommendations)

FOREWORD

MEMBERSHIP OF THE COMMITTEE

LIST OF ABBREVIATIONS

CHAPTER 1 Introduction (PDF format 14KB): Background; Scope of the inquiry; Conduct of the inquiry; Structure of the report

CHAPTER 2 Asian financial crisis (PDF format 66KB): Background to the crisis; The spread of the crisis; Australia's experience; Recovery from the crisis; Capital controls; Action required

CHAPTER 3 Effects of the globalisation of international financial markets on economic policy (PDF format 65KB)

Dealing with global financial markets

Effects on monetary and fiscal policies: Monetary policy; Fiscal policy; Policy performance

Shared currency

Strategies against market volatility

Electronic commerce and transfer pricing

Australia as a regional finance centre

CHAPTER 4 Transparency and information requirements (PDF format 53KB): Australia's self assessment; International opinion; Disclosure by private market participants; Information provided by governments; The availability of data; International standards; Conclusion

CHAPTER 5 International financial architecture (PDF format 53KB): Present structure; Reforming the system; Criticism of IMF policies; Moral hazard; Progress in reforming the international financial architecture; Conclusion