Author: Steven Rosefielde,Daniel Quinn MillsPublish On: 2015-05-13
Author: Steven Rosefielde,Daniel Quinn Mills
Publisher: World Scientific
The global financial crisis of 2008 was resolved over the course of two years after the collapse of the US housing bubble, but the world economy did not vigorously rebound as expected. The West has been torpid, while Asian economic vitality has steadily waned. These developments have been diversely interpreted and authorities have responded with a series of institutional reforms and policy fixes, without coming to grips with accumulating national debts, the kinds of speculative practices that caused the financial crisis, and the inadequacies of neoclassical and Keynesian macroeconomic explanations. Global Economic Turmoil and the Public Good presents the cumulative research of both authors. It updates the readers on global economic developments since 2008, while providing a concise, yet comprehensive survey of the causes and protracted consequences of the 2008 financial crisis. The book explains the global financial disequilibrium and catastrophic crisis risks; surveys and appraises institutional reforms designed to reinvigorate growth and ameliorate financial crisis risk; and proposes specific actions which will prevent another global financial crisis and its economic fallout. Contents:Global Economic Turmoil:Playing with FireIgnoring Today's DangersInsider DemocracySqueezing the Middle ClassLiberalization for the PrivilegedEast–West PolarizationDegeneration, Crisis and DisorderObstacles to Crisis Prevention:Words Instead of ActionTreadmill of RegulationMacroeconomic MiasmaDogmatismPipe DreamsDoublethinkFramework for Sustainable Prosperity:The Importance of Inclusive Economic TheoryBreaking Vicious CyclesLesser EvilProspects Readership: General public, students (undergraduates and postgraduates), policymakers and professionals interested in understanding the 2008 financial crisis and how to prevent future ones. Key Features:Adds value by crystalizing the epochal significance of the crisis (global sclerosis)Examines the largely overlooked causes of “ideocracy”, “politicracy” and supranationality, offering a fresh explanation of the causes of post-2008 global economic sclerosisParses new developments in macroeconomic theory intended both to explain the post-crisis economic sclerosis and assess future financial crisis riskIncorporates these novel factors in a new inclusive economic theoryKeywords:Global Economic Crisis;Global Financial Crisis;Crisis Prevention;Global Economic Sclerosis;European Union;Monetary Union;Fiscal Union;United States;China;India;Japan;Monetary Policy;Keynesianism;Central Banking;Fiscal Policy
Author: Ali Al Sadik,I. Ahmed ElbadawiPublish On: 2012-05-31
Author: Ali Al Sadik,I. Ahmed Elbadawi
This book identifies and addresses the impacts of the global financial crisis on Dubai and the region. The issues are highlighted and analyzed by a group of distinguished scholars. Specifically, discussions are focused on the following four interrelated issues: Why and how the financial crisis happened and what are its consequences for the economies of the Middle East? Defining the emerging global regulatory framework and the new financial architecture; The long term development strategy for the UAE / Dubai in the post crisis global economy; and The oil market and the global financial crisis
When the 2008 housing market bubble burst in the United States, a financial crisis rippled from the epi-center in the United States across borders into economies both near and far, causing persistent social and economic detriment in many countries. The Global Economic Crisis in Latin America: Impacts and Responses is an examination of the impacts and responses in the diverse Latin American region through the lens of three countries: Mexico, Brazil, and Argentina.
The global economic crisis of 2008/2009 has had a broad impact far beyond economic concerns. Most importantly, it has been seen as a crisis of governance and debates have not just questioned specific regulations, e.g. of global financial markets, but have additionally challenged the appropriateness of underlying governance concepts not only in global markets, but also at the national level. For the post-socialist countries, which adopted market-oriented governance mechanisms less than two decades ago, the global crisis was the first stress test after the post-socialist recovery. The contributions in this book focus on the impact of the crisis and related reform attempts in two important areas. The first area is financial and monetary policy, which is at the core of the global crisis of 2008/2009. The second area is relations between business and state actors, where corruption and weak institutional frameworks can both seriously hamper reform attempts. The volume comprises essential contributions on how the post-socialist countries have tried to cope with the first global economical crisis they saw themselves confronted with.
The global economic crisis threatens recent gains in health and poverty reduction in developing countries. What is the effect of the crisis on HIV programmes, especially in high HIV prevalence countries? What are the possible consequences? What can be done to avoid negative impacts? Much is at risk: increased mortality and morbidity, unplanned interruptions or curtailed access to treatment, with increased risk of HIV transmission, higher future financial costs, increased burden on health systems and reversal of economic and social development gains.
Author: Bart Van Vooren,Steven Blockmans,Jan WoutersPublish On: 2013-01-17
The Legal Dimension
Author: Bart Van Vooren,Steven Blockmans,Jan Wouters
Publisher: OUP Oxford
For years the European Union has been looked on as a potential model for cosmopolitan governance, and enjoyed considerable influence on the global stage. The EU has a uniquely strong and legally binding mission statement to pursue international relations on a multilateral basis, founded on the progressive development of international law. The political vision was for the EU to export its values of the rule of law and sophisticated governance mechanisms to the international sphere. Globalization and the financial crisis have starkly illustrated the limits of this vision, and the EU's dependence on global forces partially beyond the control of traditional provinces of law. This book takes stock of the EU's role in global governance. It asks: to what extent can and does the EU shape and influence the on-going re-ordering of legal processes, principles, and institutions of global governance, in line with its optimistic mission statement? With this ambitious remit it covers the legal-institutional and substantive aspects of global security, trade, environmental, financial, and social governance. Across these topics 23 contributors have taken the central question of the extent of the EU's influence on global governance, providing a broad view across the key areas as well as a detailed analysis of each. Through comparison and direct engagement with each other, the different chapters provide a distinctive contribution to legal scholarship on global governance, from a European perspective.
Author: Wyn Grant,Graham K. WilsonPublish On: 2012-05-24
The Rhetoric of Reform and Regulation
Author: Wyn Grant,Graham K. Wilson
Publisher: Oxford University Press
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.
Author: Chiara Oldani,Professor John J. Kirton,Professor Paolo SavonaPublish On: 2013-03-28
Global Impact and Solutions
Author: Chiara Oldani,Professor John J. Kirton,Professor Paolo Savona
Publisher: Ashgate Publishing, Ltd.
Out of the debate over the effectiveness of the policy responses to the 2008 global financial crisis as well as over the innovativeness of global governance comes this collection by leading academics and practitioners who explore the dynamics of economic crisis and impact. Edited by Paolo Savona, John J. Kirton, and Chiara Oldani Global Financial Crisis: Global Impact and Solutions examines the nature of the recent crisis, its consequences in major regions and countries, the innovations in the ideas, instruments and institutions that constitute national and regional policy responses, building on the G8's response at its L'Aquila Summit. Experts from Africa, North America, Asia and Europe examine the implications of those responses for international cooperation, coordination and institutional change in global economic governance, and identify ways to reform and even replace the architecture created in the mid 20th century in order to meet the global challenges of the 21st.
Author: John Hynes Farrar,David G. MayesPublish On: 2013-01-01
Author: John Hynes Farrar,David G. Mayes
Publisher: Edward Elgar Publishing
The recent global financial crisis has challenged conventional wisdom, and our conception of globalisation has been called into question. This challenging and timely book revisits the relationship between globalisation, the crisis and the state from an interdisciplinary perspective, with law, economics and political science underpinning the analysis. The expert contributors consider the Washington Consensus and its aftermath across Australia, China, the EU, New Zealand and South Africa in light of the financial crisis, encompassing public policy issues including banking reform, privatisation and state owned enterprise. The clash between market and state capitalism and the response of market capitalism to the crisis are also explored. This book draws together truly multidisciplinary discussions of the main issues for contemporary society in the face of globalisation, and defines how these issues relate to each other. As such, it will prove a stimulating read for academics, researchers, postgraduate students and policymakers with an interest in law, economics and politics.