BÖLGESEL ÖRGÜTLER - Deneme Sınavı - 5

The evolution of financial system should be discussed based on structural changes in financial system, activities and instruments over time. As for its level of development, it depends on the financial conditions provided by the system itself, including sufficient integration between sectors.

According to Fry and Aghevli, number of banks and bank branches per capita are key indicators of monetization and financial intermediation.

Transformation of family members into wage workers would automatically contribute to the monetization as an income-generating activity (Emre Alkin et al, 2001). Considering the fact that personal saving is a variable that is inversely proportional to loan demand, it is inversely proportional to financial mediation, too.

In developing countries, the main purpose of the pre-1980s financial policies, (especially in the 1960s and the 70s) was to boost industry and development by providing low-cost financing.

Established in 1974 with concern for the possibility that international capital movements may lead to a global crisis, the Basel Committee for Banking Supervision (BCBS)

This need eventually led to the rise of Regional Development Banks, designed to provide financial and technical assistance for development in the abovementioned countries within their regions.

Generally, regional cooperations develop between neighboring countries that have
geographical and historical ties. Economic, political and military close cooperation can also provide solidarity against the outside world and a more effectiveness in international politics.

The Organization of American States (OAS) is the oldest and largest inter-state, regional organization in the world. The OAS has emerged as a result of a series
of inter-state American conferences which started in the 1820s that established the Pan-American Union in 1910.

American States were represented in PanAmerican Union until 1948. From its foundation to WWII, the Union organized many conferences about international law, copyrights and trademark registration, credits used by foreigners, unfair commercial practices, cultural issues and social problems.

The General Assembly is the supreme organ of the OAS. Each member state is represented in the General Assembly. General Assembly is the democratic body of the OAS. To establish measures for coordinating the activities of the organs, agencies, and entities of the Organization among themselves, and such activities with those of the other institutions of the interAmerican system

The General Secretariat is the permanent administrative and bureaucratic organ of the
OAS. It is directed by the Secretary-General. The General Secretariat is responsible for implementing the policies set by the General Assembly and the Permanent Council.

Luis Almagro Uruguay 26 May 2015 - present

The OAS deals with democracy, economic and humanitarian development, human rights and security
issues. General Assembly accepted “Strategic Vision of the OAS,” in 2014, which reiterates that the four
core pillars of the organization’s mission are;
- strengthening democracy;
- promoting and protecting human rights;
- advancing integral development; and
- empowering and encouraging multidimensional security (OAS, 2014).

OAS has played an important role in encouraging democracy since the many American
countries transformed civil governments at the end of the cold war. In 1991, the General Assembly’s Resolution 1080 emphasized that “one of the basic purposes of the OAS is to promote and consolidate representative democracy.

The biggest criticism about OAS is that the organization is seen as a defender of the US interests. Especially, it has remained the silent US military interventions in Latin America.

The South American Defense Council (CDS ) is a mechanism that seeks to foster exchanges in the field of security between the countries that make up the Union of South American Nations, such as the development of joint defense policies, the exchange of personnel between Armed forces in each country.

Robert Schuman is the first one leading to the emergence of EU.

The Single European Act opened the way for completing the single market.

The aim of Lisbon Treaty in 2007 was turning the EU to a more influential actor in the global arena.

The following are among the restrictions of LAFTA

i. It includes the goods but not the services.
ii. It does not suggest coordination of policies.
iii. Economic and political integration was limited.