Institutions And Development After The Financial Crisis

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The financial crash of 2007-2008 and the subsequent global economic crisis have raised questions about the viability of capitalism and the desirability of alternative types of economic system. In this context, Keynesian and Marxist ideas in particular have become more popular. These two approaches, along with some other heterodox perspectives, agree on the need for institutional analysis and for better institutions and governance in order to promote economic development. This volume poses fundamental institutional, evolutionary and ontological questions relating to the emergence of a new mode of governance after the financial crisis. The book argues that, contrary to the recent austerity policies implemented in the EU in particular, a new level of government involvement is required in order to keep aggregate demand stable, make full employment possible, and create a transparent financial sector, serving the real economy and encouraging productive investments. This book will be of interest to students, researchers and policy makers working in the areas of finance, institutional economics, development economics and international political economy.

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Genre : Business & Economics
Author : Sebastiano Fadda
Publisher : Routledge
Release : 2013-10-30
File : 272 Pages
ISBN-13 : 9781135014087


New Ideas On Development After The Financial Crisis

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The global financial crisis of 2008–9 has changed the way people around the world think about development. The market-friendly, lightly regulated model of capitalism promoted by the United States is now at risk, and development thinking worldwide is at something of an impasse. Editors Nancy Birdsall and Francis Fukuyama bring together leading scholars to explore the implications of the global financial crisis on existing and future development strategies. In addressing this issue, the contributors contemplate three central questions: What effect has the crisis had on current ideas in development thinking? How has it affected and how will it affect economic policy and political realities in Latin America and Asia, including China and India? Will the financial collapse reinforce shifts in geopolitical power and influence, and in what form? Essays answering these questions identify themes that are essential as economic and political leaders address future challenges of development. To help move beyond this time of global economic turmoil, the contributors—the foremost minds in the field of international development—offer innovative ideas about stabilizing the international economy and promoting global development strategies. Contributors: Nancy Birdsall, Center for Global Development; Michael Clemens, Center for Global Development; Kemal Dervis, Brookings Institution; Larry Diamond, Stanford University; Francis Fukuyama, Stanford University; Peter S. Heller, Johns Hopkins University; Yasheng Huang, Massachusetts Institute of Technology; Justin Yifu Lin, World Bank; José Antonio Ocampo, Columbia University; Mitchell A. Orenstein, Johns Hopkins University; Minxin Pei, Claremont McKenna College; Lant Pritchett, Harvard University; Liliana Rojas-Suarez, Center for Global Development; Arvid Subramanian, Johns Hopkins University

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Genre : Business & Economics
Author : Nancy Birdsall
Publisher : JHU Press
Release : 2011-05-15
File : 360 Pages
ISBN-13 : 9781421402567


Handbook Of Research On Institution Development For Sustainable And Inclusive Economic Growth In Africa

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African countries are pursuing a number of development agendas toward achieving economic growth that is inclusive, pro-poor, and sustainable, particularly the type that can unleash the potential of women and booming youthful populations. However, available evidence shows that many African countries have experienced economic hardships and have performed more poorly than other developing and emerging countries in the global south. The Handbook of Research on Institution Development for Sustainable and Inclusive Economic Growth in Africa is an essential research publication that provides comprehensive research on the processes of building viable institutions in Africa that will serve as the fulcrum for utilizing and managing resources as well as promoting economic growth that is inclusive and sustainable. Featuring topics such as climate change, financial development, and poverty, this book is ideal for researchers, policymakers, developers, economic professionals, academicians, government officials, business professionals, and students.

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Genre : Business & Economics
Author : Osabuohien, Evans S.
Publisher : IGI Global
Release : 2020-12-04
File : 507 Pages
ISBN-13 : 9781799848189


The Future Of Capitalism After The Financial Crisis

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The Future of Capitalism After the Financial Crisis: The Varieties of Capitalism Debate in the Age of Austerity contains thirteen world leading political economists writing from within eight different countries who critically analyze the current crisis tendencies of capitalism both globally and in particular countries. Given the likelihood of an increasingly crisis prone future for capitalism, it is important not only to rethink capitalism in its current manifestations or varieties. It is also important to rethink research methods and conceptual frameworks in preparation for understanding an increasingly rocky future in which capitalism itself could go the way of the many species that in the past were endangered only to become extinct. More and more titles of books and articles are suggesting that capitalism or perhaps civilization itself is endangered if we do not make radical changes in the near future. This book breaks with academic path dependency and attempts to open new vistas of political economy and of multidisciplinary analysis that are crucially important if our thought processes are to be effective in a world in jeopardy. The varieties of capitalism (VoC) debate itself came into being as the Soviet Union unraveled. It drew in scholarship from a cross-section of Marxian and heterodox political economy. The key argument of VoC was that if capitalism was the only global option then those on the Left must get involved in policy discussions on how capitalist economies can be fashioned to become competitive as well as progressive. However, the financial crisis has seen policy across the advanced economies veer toward competitiveness coupled with austerity. The lesson for the Left is that alternatives to capitalism must be sought in the here and now.

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Genre : Business & Economics
Author : Richard Westra
Publisher : Routledge
Release : 2014-12-17
File : 256 Pages
ISBN-13 : 9781317935544


Financial Regulation In The European Union After The Crisis

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In the wake of the financial crisis, new regulatory measures were introduced which, along with changes in monetary and macroeconomic policy, have transformed the global financial structure. However, this new financial structure displays various fragilities. A new shadow banking system has grown both inside and outside the traditional banks and the divergence between core and periphery countries’ banks has increased further due to both the new regulations and the European Central Bank’s very peculiar interventions. Following Minsky’s approach, this volume explores the interplay between monetary policy, regulation and institutions in the aftermath of the great financial crisis. Minsky’s insights are used to interpret the recent regulatory changes and consider how they have affected the evolution of banks and financial markets. The unfortunate conclusion is that the changes in financial regulation introduced in various jurisdictions and inspired by the work of the Basel Committee, have not succeeded in thwarting the instability of the economic system. Instead, the mix of policies implemented so far has brought about increased fragility in the financial system. Minksy’s work on financial stability offers alternative solutions which policy-makers need to consider to resolve these issues. Financial Regulation in the European Union After the Crisis is an important volume for those who study political economy, banking and monetary economics.

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Genre : Business & Economics
Author : Domenica Tropeano
Publisher : Routledge
Release : 2018-01-12
File : 179 Pages
ISBN-13 : 9781317211433


International Trade Economic Crisis And The Sustainable Development Goals

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Proposing international trade as a path for achieving the SDGs, this curated collection envisions a more equitable and sustainable world, one where the benefits of international trade are fairly distributed, where economic crises are met with resilience and innovation and where the SDGs are not just aspirations but lived realities.

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Genre : Business & Economics
Author : Tonmoy Chatterjee
Publisher : Emerald Group Publishing
Release : 2024-05-17
File : 377 Pages
ISBN-13 : 9781837535866


Financial Crisis And Institutional Change In East Asia

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In light of the Asian financial crisis of 1997, Lai examines whether East Asian economies converged onto the liberal market model by studying the evolution of the financial sectors of Korea, Malaysia and Thailand. This includes sectoral diversification, the nature of competition, and the regulatory and supervisory frameworks.

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Genre : Social Science
Author : Jikon Lai
Publisher : Springer
Release : 2012-06-19
File : 255 Pages
ISBN-13 : 9781137265333


The Economic Crisis In Social And Institutional Context

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This book explores the foundations of the current economic crisis. Offering a heterodox approach to interpretation it examines the policies implemented before and during the crisis, and the main institutions that shaped the model of advanced economies, particularly in the last two decades. The first part of the book provides a theoretical analysis of the crisis. The roots of the ‘great recession’ are divided into fundamentals with origins in financial liberalisation, financial innovation and income distribution, and complementary or contributory factors such as the international imbalances, the monetary policy,and the role of credit rating agencies. Part II suggests various paths to recovery while emphasising that it will be necessary to develop alternative strategies for sustainable economic recovery and growth. These strategies will require genuine political support and a new 'great European vision' to address major issues concerning the EU such as unemployment, structural regional differences and federalism. Drawing on various schools of thought, this book explains the complexities of the crisis through a wider evolutionary-institutional and heterodox framework.

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Genre : Business & Economics
Author : Sebastiano Fadda
Publisher : Routledge
Release : 2015-02-20
File : 245 Pages
ISBN-13 : 9781317617426


Political Institutions And Financial Development

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The essays in this volume employ the insights and techniques of political science, economics and history to provide a fresh answer to this question.

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Genre : Business & Economics
Author : Stephen H. Haber
Publisher : Stanford University Press
Release : 2008
File : 330 Pages
ISBN-13 : 0804756929


Historical Institutionalism And International Relations

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This book applies the analytical approach called Historical Institutionalism (HI)- so far mostly used within comparative politics-to the field of International Relations (IR). It provides an introduction to HI concepts and makes an argument for why it is particularly well-suited for understanding current developments within international institutions. In particular, it helps us to understand the combination of change and stability that together form the dynamics of institutional development over time. It is the first book to collect original, empirical research applying historical institutionalism to international institutions. The chapters cover a range of institutions important to IR, including the development of European Union competition policy, the global politics of financial reform after the 2008 crisis, the institutional development of the World Health Organization, membership reforms in the League of Nations and the United Nations Security Council, and civil society access to intergovernmental organizations. The concluding chapter discusses the relationship of HI to other institutionalist approaches and the role of HI in future IR research.

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Genre : Political Science
Author : Thomas Rixen
Publisher : Oxford University Press
Release : 2016-06-02
File : 303 Pages
ISBN-13 : 9780191085161