Download or read book Essays on the Global Financial Crisis written by Heiko Hesse and published by . This book was released on 2016 with total page 340 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Global Financial Crisis has been a watershed event not only for many advanced economies but also emerging markets around the world. This book brings together research and policy work over the last nine years from staff at the IMF. It covers a wide range of issues such as the origins of the financial crisis, the policy response, spillovers and contagion, case studies, bank stress testing, and debt sustainability and sovereign debt restructuring.

Download or read book The Intellectual Origins of the Global Financial Crisis written by Roger Berkowitz and published by Fordham Univ Press. This book was released on 2012-09 with total page 233 pages. Available in PDF, EPUB and Kindle. Book excerpt: By reaching beyond "how" the crisis happened to "why" the crisis happened, the authors provide fresh thinking about how to respond

Download or read book Re balancing China written by Peter Nolan and published by Anthem Press. This book was released on 2015-03-01 with total page 265 pages. Available in PDF, EPUB and Kindle. Book excerpt: ‘Re-balancing China’ addresses three key sets of issues in China’s political economy. Part One provides an analysis of the profound effect of the global financial crisis upon China’s economy, as well as the positive impact of the massive rescue package that was implemented in response to the crisis. Part Two focuses on the challenge of globalization for China’s industrial policy. After more than two decades of industrial policy, China still has a negligible number of large firms that are competitive in global markets. China’s experience presents a fundamental challenge to traditional concepts of industrial policy and development. Part Three examines China’s international relations – in particular, its relationship with the US and the interactions between the two countries in the East and South China Seas.

Download or read book Why the World Economy Needs a Financial Crash and Other Critical Essays on Finance and Financial Economics written by Jan Toporowski and published by Anthem Press. This book was released on 2010-12 with total page 159 pages. Available in PDF, EPUB and Kindle. Book excerpt: The essays in this volume explain the key structural features of financial inflation that give rise to financial crisis. These features include excessive reliance on finance to maintain economic activity through rising asset prices. Reliance on asset inflation induces a preoccupation with property values and a new social divide between the asset-rich and the asset-poor that undermines the culture of the welfare state. When debt can no longer be supported by cash flow from asset markets, excess debt plunges economies into economic depression.

Download or read book Financial Turmoil in Europe and the United States written by George Soros and published by Public Affairs. This book was released on 2012-01-01 with total page 211 pages. Available in PDF, EPUB and Kindle. Book excerpt: Addresses the need for the United States to restructure the banking and financial system, anticipates the globalization of the crisis, and calls for international action.

Download or read book Three Essays on the Global Financial Crisis and Fiscal Policy written by Kyonghoon Kim and published by . This book was released on 2016 with total page 85 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Global Economic Financial Crisis written by and published by . This book was released on 2009-01-01 with total page 368 pages. Available in PDF, EPUB and Kindle. Book excerpt: A collapse in housing prices in the United States in the middle of 2007 led to a rise in defaults in loan repayments and then rapidly to major losses in financial institutions across the world. The financial crisis of 2007 and 2008 took little time to turn into the global economic crisis of 2008 and 2009, leaving no country and no sector untouched and has become the worst contraction since the Depression of the 1930s. The structure of financial innovation that drove growth for close to a quarter of a century has turned out to be a house of cards. Governments and central banks are now rethinking the organization and role of banks. The incentives given to executives of the financial institutions to promote profits at all costs have been put under scrutiny. This volume puts together a collection of essays on a number of aspects of the global economic and financial crisis that were first published in the Economic & Political Weekly in early 2009. Economists and policy makers from across the world cover six areas from a global and Indian perspective. One set of articles discusses the structural causes of the financial crisis. A second focuses on banking and offers solutions for the future. A third examines the role of the US dollar in the unfolding of the crisis. A fourth area of study is the impact on global income distribution. A fifth set of essays takes a long-term view of policy choices confronting the governments of the world. A separate section assesses the downturn in India, the state of the domestic financial sector, the impact on the informal economy and the reforms necessary to prevent another crisis. This book is essential reading for anyone interested in and concerned about the global economic and financial crisis.

Download or read book Essays on the Great Depression written by Ben S. Bernanke and published by Princeton University Press. This book was released on 2024-01-09 with total page 352 pages. Available in PDF, EPUB and Kindle. Book excerpt: From the Nobel Prize–winning economist and former chair of the U.S. Federal Reserve, a landmark book that provides vital lessons for understanding financial crises and their sometimes-catastrophic economic effects As chair of the U.S. Federal Reserve during the Global Financial Crisis, Ben Bernanke helped avert a greater financial disaster than the Great Depression. And he did so by drawing directly on what he had learned from years of studying the causes of the economic catastrophe of the 1930s—work for which he was later awarded the Nobel Prize. Essays on the Great Depression brings together Bernanke’s influential work on the origins and economic lessons of the Depression, and this new edition also includes his Nobel Prize lecture.

Download or read book India and the Global Financial Crisis written by Y. Venugopal Reddy and published by Anthem Press. This book was released on 2010 with total page 414 pages. Available in PDF, EPUB and Kindle. Book excerpt: 'India and the Global Financial Crisis' offers a collection of key speeches delivered by Reddy during his tenure as Governor of the Reserve Bank of India, and provides insights into the challenges facing the management of India's calibrated integration within the global economy.

Download or read book God and the Financial Crisis written by Gary D. Badcock and published by Cambridge Scholars Publishing. This book was released on 2016-02-08 with total page 210 pages. Available in PDF, EPUB and Kindle. Book excerpt: A fundamental belief in personal liberty and in the ability of free markets to realise the good lies at the heart of the neoliberal economic orthodoxy that has now shaped public policy for a generation. Confidence in orthodox economics has, however, been badly shaken by the financial crisis of 2008 and, in the years following, by the effects of the Great Recession. The era of casino banking was not only an era of de-industrialisation and under-employment, but also of iniquitous tax avoidance schemes, and of grotesquely inflated levels of social inequality. Such factors, we now realise, have reduced the life-prospects of millions of our fellow-citizens. This interdisciplinary volume of essays, with wide-ranging contributions by theologians and social scientists, explores the theological, economic, and moral implications of these developments. Its central claim is that neoliberalism’s failure to appreciate the limitations of its fiduciary commitments contributed massively to the economic crisis. A more honest appraisal of the relation between the language of belief and the sphere of economic behaviour is therefore required. This must also result in appropriate policy changes, to harness the power of the economy to serve a more generous vision of the human good.

Download or read book Why the World Economy Needs a Financial Crash and Other Critical Essays on Finance and Financial Economics written by Jan Toporowski and published by . This book was released on 2010 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The essays in this volume explain how financial inflation shifts banking and financial markets towards more speculative activity, changing the financial structure of the economy and corroding the social and political values that underlie welfare state capitalism. The essays begin with an article that was published in the Financial Times that highlights the problems of excess debt, which emerges when financial inflation exceeds the rate at which prices and incomes are rising. Subsequent essays examine the consequences of this for money and international financial, and for financial and accounting techniques such as financial innovation, goodwill and leverage. Among them are critical essays on the role that finance theory has played in covering up the problems caused by finance. These include a portrait of the pioneer of modern finance theorist Fischer Black. Further essays discuss the role of finance in economic inequality, fostering a new political, social and economic divide between the asset-rich and the asset-poor as the housing market (and asset markets in general) become the new 'welfare state of the middle classes'. A final group of essays looks at how financial inflation finally broke down and financial crisis broke out. A previously unpublished essay examines the limitations of central banks in securing financial stability, while two concluding essays discuss the role of international business in transmitting the crisis around the world, and how developing countries become affected by the crisis.

Download or read book The Global Financial Crisis written by George K. Zestos and published by Routledge. This book was released on 2015-10-05 with total page 301 pages. Available in PDF, EPUB and Kindle. Book excerpt: Although banking and sovereign debt crises are not unusual, the crisis that has unfolded across the world since 2007 has been unique in both its scale and scope. It has also been unusual in being both triggered by, and mainly affecting, developed economies. Starting with the US subprime mortgage crisis, and the recession in 2007-2009, the problem soon erupted into financial crisis in Europe. A few of these countries came to the brink of bankruptcy, and were rescued by the EU and the IMF on the condition they adopt austerity measures. The detrimental social effects of the crisis in both the US and Europe are still emerging. Although there have been several studies published on the US crisis in particular, there has so far been an absence of an accessible comparative overview of both crises. This insightful text aims to fill this gap, offering a critical overview of causes, policy responses, effects and future implications. Starting with the historical context and mutation of the crisis, the book explores the policies, regulations, and governance reforms that have been implemented to cope with the US subprime mortgage crisis. A parallel analysis considers the causes of the European sovereign debt crisis and the responses of the European Union (EU), examining why the EU is as yet unable to resolve the crisis. This book is supported with eResources that include essay questions and class discussion questions in order to assist students in their understanding. This uniquely comprehensive and readable overview will be of interest and relevance to those studying financial crises, financial governance, international economics and international political economy.

Download or read book Money Crises and Transition written by Guillermo A. Calvo and published by Mit Press. This book was released on 2008 with total page 520 pages. Available in PDF, EPUB and Kindle. Book excerpt: The essays taken on the issues that have fascinated Calvo most as an academic, a senior advisor at the International Monetary Fund and as the chief economist at the Inter-American Development Bank: monetary and exchange rate policy, financial crises, debt, taxation and reform, and transition and growth.

Download or read book Essays on the Global Economy and World Financial Markets written by Ranga Chand and published by Independently Published. This book was released on 2021-05-11 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The 2007-2008 financial crises and the Great Recession that followed was a global event that caused great upheaval in the world economy. The crisis, which started in the US with the sub-prime mortgage debacle and the bursting of the housing bubble, triggered a credit crunch that reverberated around the globe and came close to toppling the world's financial infrastructure. The developed countries were particularly hard hit as GDP dropped sharply in all the major Western economies. With demand plunging and job losses mounting, the unemployment rate soared. Compared to their pre-crisis levels, the rate doubled in several countries including Ireland, Spain and the United States and tripled in the Baltic countries of Latvia and Lithuania.Tens of thousands of businesses, both large and small from all economic sectors, went bankrupt. For households, as property prices tanked millions of homeowners found themselves in negative equity, owing more on their mortgages than their homes were worth. When Lehman Brothers, the behemoth Wall Street bank, collapsed in September 2008 it was a watershed moment. Credit markets froze and liquidity virtually vanished as banks were reluctant to lend for fear of not being repaid which gummed up the economic machinery. As panic rippled through the system and investors headed for the exits, global stock markets took a battering. By the end of 2008 trillions of dollars in value had been wiped out. This book brings together a series of essays that the author wrote for his corporate clients over the period from 2009 to 2012. The articles analyzed the impact and fallout that the Great Recession had on the global economy and critically examined the efficacy of the policy responses of governments and central banks as they tried to steady the global economic ship. Also included are a number of posts by the author that were published in the Globe and Mail, Canada's premier national newspaper.

Download or read book The International Economic Order written by Charles Poor Kindleberger and published by MIT Press (MA). This book was released on 1988 with total page 237 pages. Available in PDF, EPUB and Kindle. Book excerpt: These essays, written between 1978 and 1988, expand, revise, and apply Charles Kindleberger's influential ideas on the nature of economic crises and the possible sources of economic order in an increasingly interdependent world. With sharp insight and a fluid style, Kindleberger looks at both present and past financial crises to determine what conditions have led to economic instability. The Great Depression is a starting point for his discussion; but he also looks at booms and busts as far back as 1720 and as recent as the October 1987 stock market crash. What lessons can we learn from this reexamination of past economic disruption? Kindleberger clearly sees a need to establish worldwide economic stability as a public good, and, in times of economic disruption, a need for leadership to set the global economy back on track. Kindleberger's essays tie together major topics in modem economics and economic history. They have profound implications for international relations and political science, as economic stability becomes increasingly important and increasingly elusive in the world today.

Download or read book What Caused the Financial Crisis written by Jeffrey Friedman and published by University of Pennsylvania Press. This book was released on 2011-06-06 with total page 372 pages. Available in PDF, EPUB and Kindle. Book excerpt: The deflation of the subprime mortgage bubble in 2006-7 is widely agreed to have been the immediate cause of the collapse of the financial sector in 2008. Consequently, one might think that uncovering the origins of subprime lending would make the root causes of the crisis obvious. That is essentially where public debate about the causes of the crisis began—and ended—in the month following the bankruptcy of Lehman Brothers and the 502-point fall in the Dow Jones Industrial Average in mid-September 2008. However, the subprime housing bubble is just one piece of the puzzle. Asset bubbles inflate and burst frequently, but severe worldwide recessions are rare. What was different this time? In What Caused the Financial Crisis leading economists and scholars delve into the major causes of the worst financial collapse since the Great Depression and, together, present a comprehensive picture of the factors that led to it. One essay examines the role of government regulation in expanding home ownership through mortgage subsidies for impoverished borrowers, encouraging the subprime housing bubble. Another explores how banks were able to securitize mortgages by manipulating criteria used for bond ratings. How this led to inaccurate risk assessments that could not be covered by sufficient capital reserves mandated under the Basel accords is made clear in a third essay. Other essays identify monetary policy in the United States and Europe, corporate pay structures, credit-default swaps, banks' leverage, and financial deregulation as possible causes of the crisis. With contributions from Richard A. Posner, Vernon L. Smith, Joseph E. Stiglitz, and John B. Taylor, among others, What Caused the Financial Crisis provides a cogent, comprehensive, and credible explanation of why the crisis happened. It will be an essential resource for scholars and students of finance, economics, history, law, political science, and sociology, as well as others interested in the financial crisis and the nature of modern capitalism and regulation.

Download or read book Capitalism s Crisis Deepens written by Richard D. Wolff and published by Haymarket Books. This book was released on 2016-05-30 with total page 346 pages. Available in PDF, EPUB and Kindle. Book excerpt: “The leading socialist economist in the country” explores the roots of the Great Recession and its immense impact on working people (Cornel West). While most mainstream commentators view the crisis that provoked the Great Recession as having passed, these essays from Richard Wolff paint a far less rosy picture. Drawing attention to the extreme downturn in most of capitalism’s old centers, the unequal growth in its new centers, and the resurgence of a global speculative bubble, Wolff—in his uniquely accessible style—makes the case that the crisis should be grasped not as a passing moment, but as an evolving stage in capitalism’s history. Praise for Richard Wolff and Democracy at Work “Probably America’s most prominent Marxist economist.” —The New York Times Magazine “Richard Wolff’s constructive and innovative ideas suggest new and promising foundations for much more authentic democracy and sustainable and equitable development, ideas that can be implemented directly and carried forward. A very valuable contribution in troubled times.” —Noam Chomsky “Wolff offers a rich and much-needed corrective to the views of mainstream economists and pundits. It would be difficult to come away from this with anything but an acute appreciation of what is needed to get us out of this mess.” —Stanley Aronowitz “Bold, thoughtful, transformative—a powerful and challenging vision that takes us beyond both corporate capitalism and state socialism. Richard Wolff at his best!” —Gar Alperovitz