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The Economic Crisis in Social and Institutional Context

The Economic Crisis in Social and Institutional Context PDF Author: Sebastiano Fadda
Publisher: Routledge
ISBN: 1317617428
Category : Business & Economics
Languages : en
Pages : 226

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Book Description
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.

The Economic Crisis in Social and Institutional Context

The Economic Crisis in Social and Institutional Context PDF Author: Sebastiano Fadda
Publisher: Routledge
ISBN: 1317617428
Category : Business & Economics
Languages : en
Pages : 226

View

Book Description
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.

Financial Crises

Financial Crises PDF Author: Brenda Spotton Visano
Publisher: Routledge
ISBN: 1134229984
Category : Business & Economics
Languages : en
Pages : 160

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Book Description
This study explores the major patterns of change in the evolution of financial crises as enduring phenomena and analyzes the paradoxical position that crises are at once similar to and different from each other. Brenda Spotton-Visano examines economic, psychological and social elements intrinsic to the process of capitalist accumulation and innovation to explain the enduring similarities of crises across historical episodes. She also assesses the impact that changing financial and economic structures have on determining the specific nature of crises and the differential effect these have in focal point, manner and extent of transmission to other, otherwise unrelated, parts of the economy. Financial Crises offers a consistent method for interpreting variations in financial crises through time and allows for a better overall appreciation for both the transitory fragility and enduring flexibility of financial capitalism and the potential vulnerability created by on-going financial development. Topical and informative, this key book is of keen interest to all those studying and researching international economics and political economy.

The Political Economy of Macroeconomic Policy Reform in Latin America

The Political Economy of Macroeconomic Policy Reform in Latin America PDF Author: Eduardo Wiesner
Publisher: Edward Elgar Publishing
ISBN: 184844026X
Category : Business & Economics
Languages : en
Pages : 296

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Book Description
This book is a must read for anyone interested in policy reforms in Latin America. The author combines tremendous experience in the field and deep knowledge of economic theory: a rare combination. Alberto Alesina, Harvard University, US One of the key contributions of this book is its insistence on the importance of policy, institutional and political accountability for evaluating and enhancing macroeconomic performance and for reducing inequality. John B. Taylor, Stanford University and Hoover Institution, US Dr Wiesner combines a command of modern political and economic theories and detailed knowledge of Latin America to clarify why reform of policies and institutions has proved so difficult in that region. His general conclusion is that initial conditions of inequality and poverty reduce the demand for reform, but he finds that the process manifests itself differently in different countries. He identifies several necessary conditions for breaking out of these vicious circles. Scholars and practitioners alike can learn from his impressively thorough and detailed analysis. Avinash K. Dixit, Princeton University, US This book argues insightfully that underdevelopment is the result of the political economy difficulties some countries have in the effectiveness of public expenditures in general and of social pro-poor expenditures in particular. The policy implication is that reform strategies should focus on identifying the wrong political incentives in public expenditures. Ricardo Hausmann, Harvard University, US Eduardo Wiesner s book makes an important contribution to the understanding of development by blending together the interdependent issues of (i) macroeconomic performance and volatility, (ii) equity and distributive justice, (iii) fiscal deficits and the redistributive effectiveness of social public expenditures, and (iv) the demand for the right institutions and for policy reform in Latin America. It does this by examining recent macroeconomic crises from a political economy perspective, and finds that information is the critical algorithm that links together the demand for macroeconomic stability, macroeconomic performance and, ultimately, distributive justice. This volume is geared toward those interested in the political economy of development and policy reform in general and in Latin America, including academics, policy makers, and the general reader.

Financial Development, Economic Crises and Emerging Market Economies

Financial Development, Economic Crises and Emerging Market Economies PDF Author: Faruk Ulgen
Publisher: Taylor & Francis
ISBN: 1317301633
Category : Business & Economics
Languages : en
Pages : 244

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Book Description
Recurrent crises in emerging markets and in advanced economies in the last decades cast doubt about the ability of financial liberalization to meet the aims of sustainable economic growth and development. The increasing importance of financial markets and financial efficiency criterion over economic decisions and policies since the 1980s laid down the conditions of the development process of emerging market economies. Numerous crises experienced thereafter gave rise to flourishing work on the links between financialization and economic development. Several decades of observations and lessons can now be integrated into economic and econometric models to give more sophisticated and multivariable approaches to financial development with respect to growth and development issues. In the markets-based and private-enterprise dominated world economy, two conditions for a successful growth-enhancing financial evolution can at least be brought fore: macroeconomic stability and consistent supervision. But even after the 2007-2008 global crisis, economists do not agree on the meaning of those conditions. For liberal and equilibrium-market economists, good finance and supervision mean market-friendly structures while for institutionalists, post-Keynesian and Marxist economists, good finance and supervision must lie in collectively designed and managed public structures. Drawing heavily on the tumultuous crises of the 1990s-2000s, this book argues that those experiences can shed light on such a crucial issue and lead economic theory and policy to go beyond the blindness of efficient free markets doctrine to economic catastrophes. It also points to new challenges to global stability in the wake of reconfiguration of international financial arena under the weight of major emerging market economies.

Rethinking Development Strategies After the Financial Crisis

Rethinking Development Strategies After the Financial Crisis PDF Author: Alfredo Fernando Calcagno
Publisher:
ISBN: 9789211128949
Category : Business & Economics
Languages : en
Pages : 116

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Book Description
Recent economic trends and the challenges posed by the global crisis reinforce the importance of implementing strategies for development as opposed to leaving the economy to market forces. Countries need a strategic compass for long-run economic development. This comprises macroeconomic policies, sectoral policies (including financial sector, trade and industrial policies), institution building in key areas and development-friendly global governance. Within a chosen medium- or long-term strategy, governments need more policy space to adjust to the specific (and evolving) social, historical and institutional context. In this volume, issues that all developing countries need to handle are discussed.

Recentralisation in Colombia

Recentralisation in Colombia PDF Author: Julián D. López-Murcia
Publisher: Springer Nature
ISBN: 3030816745
Category : Political Science
Languages : en
Pages : 242

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Book Description
This book tackles the question of how to characterise and account for recentralisation in Colombia between central and lower levels of government across a 26-year period. Around the world, the COVID-19 pandemic has once again put the distribution of responsibilities, resources, and authority between different levels of government at the heart of political debate. This book brings this issue to light as a topic central to the study of public administration.Drawing on extensive fi eldwork with more than a hundred interviews with former presidents, ministers, members of congress, governors, local mayors and subnational public offi cials, as well as documentary sources, it begins with a historical account of recentralisation processes in the world. It then proposes a theoretical framework to explain these processes, before tracing and carefully comparing recentralisation episodes in Colombia using theory-guided process tracing.

Varieties of Economic Inequality

Varieties of Economic Inequality PDF Author: Sebastiano Fadda
Publisher: Routledge
ISBN: 1317402146
Category : Business & Economics
Languages : en
Pages : 222

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Book Description
Recently, the issue of inequality has regained attention in economic and political debates. Although this interest is welcome, the debate is still mostly focused on income or wealth distribution, which is an important aspect but does not present a complete view of inequality. Most of the theoretical and empirical studies produced by economists concern personal income distribution or factor income distribution. This is more evident in the studies of the evolution and characteristics of contemporary capitalism and globalization. Varieties of Economic Inequality considers both theoretical perspectives and empirical evidence of aspects such as income, gender, race, technology, power, region, education and class. Ultimately, this text rejects the idea of supposed long run constant factor shares, the positive effects of inequality and the greater importance of absolute level of income compared to its unequal distribution, and instead reveals the structural inequalities that exist within societies. This book advocates a move away from the focusing on inequality at the level of the individual and suggests policy for eradicating these various forms of inequality. It is suitable for those who study political economy, social inequality as well as economic theory and philosophy.

Institutions and Development After the Financial Crisis

Institutions and Development After the Financial Crisis PDF Author: Sebastiano Fadda
Publisher: Routledge
ISBN: 1135014094
Category : Business & Economics
Languages : en
Pages : 202

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Book Description
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.

Politics of Democratic Breakdown

Politics of Democratic Breakdown PDF Author: Gangsheng Bao
Publisher: Taylor & Francis
ISBN: 1000586219
Category : Political Science
Languages : en
Pages : 406

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Book Description
Democratic breakdown as a political and historic event can impact the fate of millions, if not hundreds of millions of people, by changing the political complexion of a country. This book attempts to systematically explain why democracies collapse. The author's main theoretical argument is based on the examination of two factors. One is political cleavages among voters. These can cause serious political conflicts and may lead to fierce political confrontation and major upheaval at the society level. The other revolves around the types of political and institutional arrangements under democratic regimes. Centrifugal democratic regimes are likely to weaken government capacity or state capacity, rendering governments incapable of effectively resolving political conflicts and, when these two factors come together, political conflicts are less likely to be controlled effectively. These situations can evolve into serious political crises and eventually lead to the collapse of democratic regimes. The empirical research of this book is based on a comparative historical analysis of Germany, Nigeria, Chile, and India. Examining democratic collapses from both theoretical and empirical perspectives, this book will be of interest to those engaged in the study of democracy, Political Science, Comparative Politics, and Political Theory.

Economic Crisis, Quality of Work, and Social Integration

Economic Crisis, Quality of Work, and Social Integration PDF Author: Duncan Gallie
Publisher: Oxford University Press
ISBN: 0199664722
Category : Business & Economics
Languages : en
Pages : 342

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Book Description
This book provides a comparative analysis of the impact of the economic crisis on the quality of work and work-life balance.