3. Concluding Comments
The principal intent of Basel II was to enhance the risk management systems of Large Complex Financial Organizations (LCFOs) such as Citigroup, Deutsche Bank, and ABN Amro. By definition, LCFOs are internationally active, and their actions may affect some developing countries. However, the Basel Committee did not address the needs of developing countries. Nevertheless, Basel II will have a direct impact on those countries that adopt it and an indirect impact on the other countries. The comments presented here addressed issues that the Basel Committee should consider as Basel II evolves over time.
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Endnotes
For further information about the gpgNet, see: http://www.sdnp.undp.org/gpgn/about.php. The gpgNet is hosted by the Office of Development Studies in the United Nations Development Programme (UNDP). However the contents of this website do not, in any way, reflect the views of UNDP, or the views of any of the Member States of the United Nations (UN). The “global public goods” concept is an emerging one, and gpgNet places it in the public domain for wider consultation, study and debate.
The gpgNet web site for the eForum is: http://groups.undp.org/read/?forum=gpgnet-basel
The dates shown below are the dates that the messages were listed on the website. Also see: http://www.sdnp.undp.org/gpgn/index.php
Stephany Griffith-Jones, Research Fellow and Professor at the Institute of Development Studies, Institute of Development Studies, University of Sussex, Brighton, UK; May 27, 2004, http://www.ids.ac.uk/ids/news/Archive/Baselmistakes.html
Stephany Griffith-Jones and Stephen Spratt (Head of Research, Intelligence Capital), May 27, 2004.
Benton E. Gup, University of Alabama, USA; May 27, 2004.
Sunada Sen, Academy of Third World Studies, Jamia Millia, New Delhi, India, May 27, 2004.
Paul Bance, Department of Economics, European University Institute, Florence, Italy May 28, 2004.
Avinash Persaud, Investment Director, GAM London Ltd, UK Stephen Spratt, Head of Research, Intelligence Capital, May 26, 2004.
Djamester Simarmata, Faculty of Economics University of Indonesia, Jakarta, May 28, 2004.
Amador Honrado, Jr., Assistant Deputy Secretary, Asian Bankers Association, May 28, 2004.
Frank Sammeth, Paris, France, June 10, 2004.
Ashima Goyal, Professor, Indira Gandhi Institute of Development Research Mumbai, India, June 11, 2004.
Stephen Spratt & Stephany Griffith-Jones, June 14, 2004. —
Jose Joaquin Morte Molina, Council of Europe Development Bank Paris, June 14, 2004.
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Gup, B.E. (2005). The Effects of Basel II on Developing Countries: A Summary of a Global Public Goods Network eForum on Basel II. In: Gup, B.E. (eds) Capital Markets, Globalization, and Economic Development. Innovations in Financial Markets and Institutions, vol 15. Springer, Boston, MA. https://doi.org/10.1007/0-387-24563-4_2
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