globalization, this paper sets out to investigate the opportunity costs of self-insurance through precautionary reserve holdings. We … developing countries are explored, designed to limit both the risks of financial globalization and the costs of insurance … expertise incorporated in foreign direct investment as part of a country's development strategy. -- International monetary order …

Intro -- Introduction -- Why now the debate on the international financialarchitecture? -- The issues in the … international financial architecture debate -- How to go forward - broadening the debate and inputs -- Notes -- References. …