Description : Systematically exploring the consequences of the global financial crisis, this text focuses primarily on the impact on policy and politics. It asks how governments responded to the challenges that the crisis has posed, and the policy and political impact of the combination of both the crisis itself and these responses.
Description : This new edition of Financial Crises and Recession in the Global Economy explores the major financial instabilities and evolutionary trends in the global economy since the 1970s. A learned but accessible book, it is perfect for a broad audience of academics and practitioners but has also been used as a supplementary textbook for courses in international economics, international finance, money and banking, and macroeconomics.
Description : The World Bank Group has responded to the global economic crisis with a strong countercyclical expansion of financing. Its disbursements of 80 billion in the past two fiscal years were the largest among the Multilateral Development Banks. There was notable variation across the WBG, with vastly increased IBRD lending, moderately higher IDA financing, and overall responses from IFC and MIGA that were not counter-cyclical. The differences reflected the interplay of financial capacities, business models, and available instruments. While the level of financial flows is one aspect of crisis response
Description : Regional cooperation in East Asia on various issue areas, such as emergency liquidity mechanisms in finance, the exponential growth of free trade agreements and policy coordination on the environment and public health, developed rapidly after the Asian Financial Crisis. A decade later, the global financial crisis offered a new opportunity for the nascent regional cooperation mechanisms to acquire new depth and meaning - this time, however, in a very different context due to the unfaltering rise of China. How have inter-state cooperation mechanisms, which were devised originally to deal with the problems of the past crisis, fared in the recent global economic turbulence? Can regional integration effectively insulate East Asia from the vagaries of the international market? Should East Asian nations heed the call for regionalism or globalism? This volume not only offers one of the first assessments of how the global economic crisis has affected the prospects for regional integration in East Asia, but it also addresses a number of long-standing debates of interest to East Asian specialists, economists and policymakers: Are crises catalysts for revamping developmental models? Do they provide solid foundations for regional solidarity and integration? Can they help catapult countries into the global limelight? This book was originally published as a special issue of The Pacific Review.
Description : This book is the outcome of a South-South conference jointly organized by the Asian Political and International Studies Association (APISA), the Latin American Council of Social Sciences (CLACSO) and the Council for the Development of Social Science Research in Africa (CODESRIA) in Dakar, Senegal, May 2012. The conference was organised in response to the financial crisis of 2008 which started in the United States and Europe, with reverberating effects on a global scale. Economic problems emanating from such crises usually leave major social and structural impacts on important sectors of the society internationally. They affect living standards and constrain the well-being of people, especially in poor countries. Persistent problems include high unemployment, increased debt and low growth in developed countries, as well as greater difficulties in accessing finance for investment in the developing world. There is a need for countries in the South to examine the available options for appropriate national and regional responses to the different problems emanating from the economic crisis. This book attempts to provide ideas on some strategic responses to the disastrous impact of the crisis, while keeping in mind the global common interest of the South. It is hoped that the book will contribute significantly towards the agenda to rethink development and the quest for alternative paradigms for a just, stable and equitable global political, economic and social system. A system in which Africa, Asia, and Latin America are emancipated from the shackles of hegemonic and anachronistic neoliberal dictates that have nothing more to offer than crises, vulnerabilities and dependency.
Description : "The fact that the authors have had a first-hand understanding and a ring-side view of Indian policy settings (in different capacities), and at the same time, the living experience of the international efforts to deal with the crises is reflected in their competent and insightful treatment of a most topical theme that continues to draw both heat and light, and animated engagement in the public space. Their effort is distinctive in that it provides an Indian perspective to the subject and fills an important gap in the swelling literature on the global crisis." -Dr C. Rangarajan, Chairman, Economic Advisory Council to the Prime Minister of India "For anyone interested in learning how the recent global financial crisis came about, how it impacted the world and India, and how the latter responded to the challenge posed by it, this book offers a clear and comprehensive one-stop analysis." -Arvind Panagariya, Columbia University "A large body of literature is already pouring in on the genesis, manifestation, and outcome of the worldwide meltdown, but few have taken the broad international view and combined it with an in-depth study of a large emerging economy. The authors of the book have done it, and done it successfully." -V. S. Vyas, Member, Economic Advisory Council to the Prime Minister of India The Global Economic Crisis through an Indian Looking Glass is about the onset and unfolding of the global financial crisis and the great recession of 2008–2009, tracing its origin and causes, dimensions and impact, policy responses, lessons and the way forward from an Indian perspective. A significant feature of the book is the analysis of the four facets of the crisis: (i) genesis, (ii) impact on the world and India, (iii) the response, and (iv) the aftermath. The objective is to capture the specific aspects of the onset of the crisis and the policy responses, with particular emphasis on the sequencing thereof. The authors underscore the gaps in the international financial architecture that allow the recurrence of crises with global ramifications and emphasize the importance of cooperation, coordination and collective action to secure and sustain macroeconomic and financial stability across the globe. The book is a testament to the powerful values of global interconnectedness.
Description : The reason for the depth the 2008's global depression lies in the intractability of modern economic systems. This has led to an emergence of unprecedented migratory patterns, the analysis and management of which is key to economic recovery.
Description : The free movement of capital within the EU is the laggard freedom, perhaps emanating from its ill-bounded contingent character as drafted in Article 67 of the original Treaty, or being ruled as not directly effective, or its close proximity to sovereignty and subsidiarity considerations. Clearly there must be significant operational inhibitors, as well as political considerations which have frustrated efforts (from Segre and Werner onwards) to remove the barriers and emancipate the flows of capital. Recent events however, serve to highlight the fragility of our predicament on the global financial stage with significant systemic risks emanating from the globalisation of capital and foreign direct investment. The Commissions answer is to centralise EU regulation with the introduction of new supranational authorities whose binding powers and remit is to drive forward the harmonisation of financial regulation and supervision. Perhaps we’ve heard this before? As the purposefully incendiary title suggests this dissertation shall investigate the importance of capital, its closeness to sovereignty, the previous EU regulatory experiences, the operative mechanisms necessary to regulate and supervise financial services, and utilise a hypothesis based approach to examine the renewed drive by the Commission to centralise the management of financial risk across the EU set against the key dimensions of certainty, coherency, competency, and sovereignty.
Description : In the first decade of the twenty-first century, the biggest event of worldwide proportion was the 2008 global financial crisis, which was caused primarily by ineffective governance, failed surveillance systems, and implementation flaws. While fiscal and monetary policies succeeded in pulling many countries out of a financial freefall, most economies have performed beneath pre-recession levels as governments continued to struggle with their finances. Examining the financial crisis from the viewpoint of intangible assets provides a different perspective from traditional economic approaches. National Intellectual Capital (NIC), comprised mainly of human capital, market capital, process capital, renewal capital, and financial capital, is a valuable intangible asset and a key source of national competitive advantage in today’s knowledge economy. The authors—pioneers in the field—present extensive data and a rigorous conceptual framework to analyze the connections between the global financial crisis and NIC development. Covering the period from 2005 to 2010 across 48 countries, the authors establish a positive correlation between NIC and GDP per capita and consider the impact of NIC investment for short-term recovery and long-term risk control and strategy formulation. Each volume in a series of SpringerBriefs on NIC and the financial crisis provides in-depth coverage of the impact of the crisis, the aftermath, future prospects, and policy implications for a regional cluster. This volume focuses on the BRICKS—Brazil, Russia, India, China, Korea, and South Africa.
Description : "This book, a collection of papers prepared for the 2009 summer ASG conference, addresses the critical intersection of the global financial recession and its potential impact on America's foreign policy and national security. Authors explore the possible shift in global power, the changing relationship between the U.S. and China, the impact on America's development policy, and assess the capacity of domestic and international institutions to respond to the crisis." --Book Jacket.