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The chancellor has called for more transparency in the global financial markets.
In a speech in Edinburgh on Friday, Alistair Darling said economies must not retreat into protectionism or secrecy in the face of the international credit crunch.
Publishing a Treasury document on 'embracing financial globalisation', he said growth and stability were dependent on increasing "openness" rather than closing ranks.
The document set out plans to provide an early warning system for emerging financial risks; implement an "appropriate regulatory response to financial instability"; and deliver effective cross-border supervision of firms and markets.
Speaking at a Global Financial Services conference, Darling said: "Today we set out the case for openness of capital and financial markets.
"An openness that can underpin growth in developed and developing countries, and can help us meet the key strategic challenges of our time - tackling poverty and climate change."
Dods Parliamentary Communications Ltd