The New Development Bank (NDB) as in the International Financial System (IFS)
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| Dokumentumtípus: | Diplomadolgozat |
| Kulcsszavak: | Contingent Reserve Arrangement economic development financial sovereignty international cooperation international economic relations international finance International Financial System New Development Bank |
| Online Access: | http://dolgozattar.uni-bge.hu/56647 |
| Kivonat: | The article explores the emergence and implications of the New Development Bank (NDB) and the Contingent Reserve Arrangement (CRA) established by the BRICS countries - Brazil, Russia, India, China, and South Africa. It examines these institutions as potential alternatives to the traditional International Financial System (IFS), addressing issues such as perpetual debt and loss of sovereignty often associated with the IFS. The NDB and CRA offer a parallel and innovative credit mechanism, providing member and non-member countries with access to development financing beyond the constraints of the existing system. The article discusses the formation of the BRICS alliance, the shortcomings of the IFS, and the potential of the NDB and CRA to serve as complementary tools for economic development. It also examines the structure and functioning of the IFS and evaluates the establishment of the NDB and CRA as new players in the international financial system. |
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