There is, however, far less agreement on specific measures to be taken for building a new international financial architecture. An important example relates to the opening of the capital accounts by developing countries. While international financial markets have a strong preference for full opening up, most developing countries favour a gradual and sequenced opening up.
The study also observes the attitudes of the different players on specific changes in the international financial architecture. The areas include codes and standards, international liquidity, development finance, international regulation, standstill and orderly debt workouts and increased developing country participation.