In no less than 500 words, design specific steps and institutions to help developing countries deal with financial crises.
a) What changes to domestic financial institutions can developing countries take to minimize the chances of a financial crisis?
b) Should developing countries limit capital inflows or outflows or impose a (Tobin) tax on financial transactions?
c) How would you reform the IMF to make it more able to deal with financial crises? (Be realistic and assume their overall budget stays the same)
d) What modifications to the international banking system or credit rating system would you recommend?