Download or read book Contributions to Economic Theory Policy Development and Finance written by D. Papadimitriou and published by Springer. This book was released on 2016-03-09 with total page 391 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study combines lessons drawn from events and experiences of developing countries and examines them in relation to Jan Kregel's ideas on economics and development. The contributors provide in-depth analysis on: financial stability and crises, monetary systems, banking, global governance, employment, inflation and political economy
Download or read book Economics written by Fouad Sabry and published by One Billion Knowledgeable. This book was released on 2024-08-07 with total page 354 pages. Available in PDF, EPUB and Kindle. Book excerpt: Explore the intricate world of Economics through the lens of Political Science with "Economics," a vital addition to understanding global markets, governance, and societal well-being. This comprehensive volume covers economic theories and policies, offering insights into their impact on our interconnected world. Chapters Highlights: - 1: Economics - Discover the foundational principles of Economics, highlighting its crucial role in shaping political landscapes and policy decisions. - 2: Microeconomics - Learn how individual economic agents and markets function, influencing everyday choices and market interactions. - 3: Macroeconomics - Understand national and global economic phenomena, from GDP fluctuations to inflation. - 4: Kenneth Arrow - Examine Nobel laureate Kenneth Arrow's contributions to economic theory and policy debates. - 5: Monetary base - Grasp the role of the monetary base in monetary policy and economic stability. - 6: Neutrality of money - Explore money neutrality and its implications for long-term economic equilibrium. - 7: John Eatwell - Gain insights from John Eatwell's work in economic theory, policy analysis, and institutional economics. - 8: Liquidity preference - Investigate how liquidity preferences affect interest rates and financial decision-making. - 9: Richard Kahn - Delve into Richard Kahn's contributions to aggregate demand and the multiplier effect. - 10: Neoclassical synthesis - Understand the integration of classical and Keynesian economics in the 20th century. - 11: John Eatwell, Baron Eatwell - Further explore John Eatwell's impact on economic policy and institutional economics. - 12: Richard Kahn, Baron Kahn - Examine Richard Kahn's insights into income distribution and economic growth. - 13: The New Palgrave Dictionary of Economics - Navigate economic concepts and theories with this extensive knowledge repository. - 14: Lawrence E. Blume - Learn from Lawrence E. Blume's contributions to economic theory and methodology. - 15: Involuntary unemployment - Analyze causes and consequences of involuntary unemployment and policy interventions. - 16: Peter Kenneth Newman - Gain perspectives on economic development, globalization, and sustainable growth. - 17: Scarcity - Understand the economic problem of scarcity and its implications for resource allocation and social welfare. - 18: Demographic economics - Examine how population trends shape economic outcomes and policy challenges. - 19: History of macroeconomic thought - Trace the evolution of macroeconomic ideas from classical economics to modern paradigms. - 20: Murray Milgate - Engage with Murray Milgate's scholarly contributions to economic theory and policy. - 21: Ross Starr - Explore Ross Starr's insights into economic growth, financial markets, and institutional roles. "Economics" is essential for professionals, students, and enthusiasts seeking a deep understanding of economic principles and their real-world applications. This book addresses pressing economic questions and equips readers to navigate complex economic landscapes with clarity and confidence.
Download or read book Business cycle theory as a basis for economic policy written by Pascal Bridel and published by Routledge. This book was released on 2017-10-02 with total page 275 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book aims to start a debate on the relationship between economic theory – and more precisely business cycle theory – and economic policy, emphasising the diversity of views on economic policy which characterised older periods, in contrast to the homogeneity of the analysis and diagnosis provided by current business cycles developments. Since the 1970s, economic theorists excluding any economic policy interventions and favouring strictly supply-side economic policies have gained a growing influence. The development of Equilibrium Business Cycles theories coincides with the collapse, at least in academic circles, of the Keynesian consensus favouring stabilization policies. The alternative approach which emerged was based on an a priori hypothesis about the stability of the economy – or at least on its remarkable ability to stabilize itself. The direct consequence of this approach is that any stabilization objective for economic policy is not only misguided but also inefficient. There are many reasons why Keynesian policies ceased to be dominant in theoretical circles, but the most helpful circumstances for the rapid propagation of a new revolutionary theory is certainly the existence of an established orthodoxy, clearly inconsistent with the most salient facts of reality. This book offers a sample of different theoretical approaches to business cycles, examining their respective views on economic policy with the objective of understanding business cycles that have been lost, and identifying those views which explain fluctuations and the way we conceive economic policy. This book was originally published as a special issue of The European Journal of the History of Economic Thought.
Download or read book Political Economy and Contemporary Capitalism written by Ron Baiman and published by M.E. Sharpe. This book was released on 2000 with total page 382 pages. Available in PDF, EPUB and Kindle. Book excerpt: With contributions by some of the top heterodox economists of our time, this book challenges readers to develop critical perspectives on a number of current topics, including foreign financial crises, health care, social security, and welfare reform. It explores alternative approaches to theoretical method, macro-and microeconomics, international trade and finance, economic development, and related policy issues.
Download or read book The Journal of Political Economy written by James Laurence Laughlin and published by . This book was released on 1912 with total page 588 pages. Available in PDF, EPUB and Kindle. Book excerpt: Deals with research and scholarship in economic theory. Presents analytical, interpretive, and empirical studies in the areas of monetary theory, fiscal policy, labor economics, planning and development, micro- and macroeconomic theory, international trade and finance, and industrial organization. Also covers interdisciplinary fields such as history of economic thought and social economics.
Download or read book Policy Implications of Recent Advances in Evolutionary and Institutional Economics written by Claudius Grabner and published by Routledge. This book was released on 2016-05-12 with total page 241 pages. Available in PDF, EPUB and Kindle. Book excerpt: This collection is inspired by the coming retirement of Professor Wolfram Elsner. It presents cutting-edge economic research relevant to economic policies and policy-making, placing a strong focus on innovative perspectives. In a changing world that has been shaken by economic, social, financial, and ecological crises, it becomes increasingly clear that new approaches to economics are needed for both theoretical and empirical research; for applied economics as well as policy advice. At this point, it seems necessary to develop new methods, to reconsider theoretical foundations and especially to take into account the theoretical alternatives that have been advocated within the field of economics for many years. This collection seeks to accomplish this by including institutionalist, evolutionary, complexity, and other innovative perspectives. It thereby creates a unique selection of methodological and empirical approaches ranging from game theory to economic dynamics to empirical and historical-theoretical analyses. The interested reader will find careful reconsiderations of the historical development of institutional and evolutionary theories, enlightening theoretical contributions, interdisciplinary ideas, as well as insightful applications. The collection serves to highlight the common ground and the synergies between the various approaches and thereby to contribute to an emerging coherent framework of alternative theories in economics. This book is of interest to those who study political economy, economic theory and philosophy, as well as economic policy.
Download or read book A Treatise of Taxes and Contributions written by William Sir Petty and published by Good Press. This book was released on 2021-11-05 with total page 101 pages. Available in PDF, EPUB and Kindle. Book excerpt: Sir William Petty was a prominent economist in the 17th century. A Treatise of Taxes and Contributions examines the functions of the state in government and labor theories of his time.
Download or read book Economic Theories written by B. N. Ghosh and published by . This book was released on 2001 with total page 328 pages. Available in PDF, EPUB and Kindle. Book excerpt: The basic desideratum of the present volume is to threadbare the fundamental theories of economics and their evolutionary trajectory in a simplified way devoid of verbosity and rigmarole. The traces of economic theories have been analysed with reference to, inter alia, their methodological foundations and historical genesis. Past and present theories have been categorised under taxonomical schema into major schools to properly appreciate and differentiate their respective contributions. The historicity of some of the important micro and macro theories have depicted in a very precise way so as to keep the subject well within the area of bounded rationality of the average reader. The final part of the study briefly recapitulates the contemporary issues and changes in macro and monetary economics, and also the substantive development in development economics. It is believed that this little volume will enable the readers to have a bird's eye view of the broad panorama of economic theories both past and present. B.N. Ghosh, PhD (India), M.CIM (UK), GFCR (Harvard), is currently a Professor of Economics, Eastern Mediterranean University, North Cyprus. A specialist in Human resource Development and Political Economy, he has published extensively in refereed journals. His books are published, among others, by Arnold Heinemann, Longman, Macmillan, Routledge, Nova Science Publications of New York, Ashgate Publishing and Wisdom House of England. He has undertaken short-term consultancies for various organizations including the University Grants Commission and the United Nations Development Programme. Professor Ghosh is the Director (Hon.) of the Centre for the Study of Human Development in Leeds (England), and the Editor of International Journal of Human Development, Leeds (England). Professor Ghosh's research has ranged over a number of areas including political economy, human resource development, economics, sociology, and anthropology. Some of his recent publications include: Global Financial Crises and Reforms (ed.), (Routledge, London and New York, 2001); Privatisation: The ASEAN Connection (Nova Science Publications, New York, 2000); Gandhian Political Economy (Ashgate Publishing, London, 2006); Contemporary Issues in Development Economics (Routledge, London and New York); Economic Theories: Past and Present (Wisdom House, England, 2001); Contemporary Issues in Modern Macroeconomic Management ((Wisdom House, England, 2005) and Globalization and the Third World (co-ed.), (Macmillan, London and New York. 2006). Professor Ghosh is the recipient of the Emerald Award (UK) for 2005.
Download or read book Financial Instability and Economic Security After the Great Recession written by Charles J. Whalen and published by Edward Elgar Publishing. This book was released on 2011-01-01 with total page 241 pages. Available in PDF, EPUB and Kindle. Book excerpt: ÔThis book advances the re-unification of the Institutionalist and Keynesian traditions, now unstoppable, which when last combined eighty years ago proved the power of progressive and pragmatic thought. Let the spirit of Keynes and Commons inspire our new era Ð and perhaps this time a coherent, enduring and useful academic economics may also result.Õ Ð James K. Galbraith, President, Association for Evolutionary Economics (2012) ÔFinancial Instability and Economic Security after the Great Recession is a welcomed volume for a variety of reasons. The book does a good job of: 1) surveying the foundations of Post-Keynesian Institutionalism (PKI); 2) unfolding new ways of understanding and appreciating the economic and institutional insights of Hyman Minsky (which are many); and 3) providing new economic analysis into the recent financial crisis both in the United States and globally. . . How uncertainty affects institutions and individual behavior is something that needs more exploration, and this volume contributes to a much-needed discussion on how both institutionalists and Post-Keynesians can work together on this. . . a very interesting and stimulating book that provides some new insights in the development of both Institutionalist and Post-Keynesian thought.Õ Ð Heterodox Economics Newsletter ÔThis important and fascinating book confirms that policymakers would do well to brush up on their reading of Hyman Minsky as they wrestle with the ongoing effects of the global financial crisis. It makes a compelling case for understanding the current situation as a crisis of capitalism Ð a system that veers between stability and instability Ð and for managing and regulating economies on the basis of MinskyÕs insight that stability breeds instability. MinskyÕs insight was psychological, not merely economic, and this volume furthers the argument for including disciplines such as psychology and philosophy in understanding markets. It also helps us recognize the truth that, in the end, economies are human constructs and it will require strong doses of humanism to successfully manage our economic future.Õ Ð Michael E. Lewitt, Harch Capital Management and author of The Death of Capital: How Creative Policy Can Restore Stability ÔThe volume offers an intriguing economic frame that vastly broadens the possibilities for economic research and shifts the focus of economists from markets to people. . . This volume makes a coherent and articulate case for a new interpretation of existing economic theories with long traditions that could help inform both research and policy in the future.Õ Ð Christian Weller, Perspectives on Work ÔA failing orthodoxy calls out for powerful alternatives. Neoclassical economics is that failed orthodoxy; Whalen and his contributors are the critical alternative. In this finely orchestrated edited volume, the contributors take turns wielding a sledgehammer to demolish the weakened edifice of neoclassical theory. Then, each adds a brick to a new theoretical foundation as they work together to expand upon the Post-Keynesian Institutionalist approach, especially the ideas laid down by Hyman Minsky. Their critique is clear and the alternative theory and policies they present are critical for anyone trying to understand the nature and operation of market-based economies.Õ Ð Dorene Isenberg, University of Redlands, US ÔA convergence of Post Keynesian and Institutional economics, which have much in common, offers a sound and practical way forward after the Great Recession. By drawing inspiration from Hyman Minsky and tracing similarities in the economics of Veblen, Commons and Keynes, this book pursues such a convergence in an original and thought-provoking manner. The result is a new way of thinking about economics, one based on serious economic theory and rooted firmly in economic reality.Õ Ð Philip Arestis, University of Cambridge, UK ÔFinancial Instability and Economic Security after the Great Recession explores the close relationship between Institutional and Post Keynesian economics, thereby contributing greatly to our understanding of the recent Ð indeed, still ongoing Ð crisis in the U.S. economy and global financial markets. Together these two schools of thought provide coherent diagnoses and prescriptions that are wholly lacking in orthodox neoclassical theory. We are reminded that institutions matter, unregulated financial markets are not self-correcting, economies stall at equilibriums far below potential, and activist government is the only path to rebuilding a stable and balanced economy. This book will help greatly in the important task of rethinking economics and pointing us in the direction of reform and recovery.Õ Ð Timothy A. Canova, Chapman University School of Law, US ÔFor those who take the work of Hyman Minsky seriously, this collection of essays provides a most welcome and refreshing examination of modern economic reality. It also demonstrates just how fruitful a conjoining of Post Keynesian and Institutionalist theory can be. Whalen has chosen his authors wisely, and, taken as a whole, their contributions provide an illuminating inquiry into what Minsky called Òmoney-manager capitalismÓ. The authors continue in the Minsky tradition, complementing his theoretical work and driving it forward. I highly recommend this book to not only economists who consider themselves Post Keynesian or Institutionalist, but to all who are looking for a way out of the theoretical impasse posed by conventional economics.Õ Ð John Henry, University of Missouri-Kansas City, US ÔIn the 1930s, economic theory and policy underwent dramatic change; such a shift occurs rarely and only in times of great calamity. We are in a similar period today, and this book enlightens economic policy and contributes to change that is ongoing in the mainstream of economic thinking. Economists and policymakers alike will benefit from this book.Õ Ð Ronnie J. Phillips, Colorado State University, US ÔCharles Whalen has been the torch-bearer for Post-Keynesian Institutionalism for many years. The fruit of his thought and time is reaped in the publication of this valuable work that should be of interest to all economists, particularly those concerned with the macroeconomic workings of the real economy. While there are multiple authors, Whalen wrote or co-authored half of the chapters, giving the book coherence not usually found in a collection of essays; a first-rate book.Õ Ð Charles K. Wilber, University of Notre Dame, US ÔThe end of the Great Moderation (a period characterized by modest business cycles) and the demise of its intellectual underpinnings, such as the efficient market hypothesis, opens the door to fresh thinking about the evolution of the US and world economies. This volume responds with a compendium of insights that grow out of Post-Keynesian Institutionalism. Central constructs in the analysis Ð essential to understanding the new Great Instability and to generating constructive policy responses Ð include money-manager capitalism, financial regulation, and economic evolution. The book provides a persuasive basis for reconstructing macroeconomics and for finding sets of policies that could lead to greater world prosperity. This is an important contribution, since much of the intellectual and policy response to the current crisis has challenged the status quo very little and has not inoculated the global economy from further instability.Õ Ð Kenneth P. Jameson, University of Utah, US ÔThis book makes a major contribution toward developing an economic framework to address the policy failures that precipitated the 2007Ð2009 financial crisis and slowed recovery from the Great Recession. It begins that process with wonderfully clear analyses of the influence of earlier non-classical economic thinkers on Keynes and Minsky and then uses their insights and hypotheses to critique the economic thinking that failed to anticipate the crisis. But, unlike many other excellent analyses of recent events, it also identifies policy options capable of preventing future crises and ensuring a more rapid recovery. The authors have laid a strong foundation for the theoretical perspective required to secure the broadly shared prosperity that many view as the overriding objective of an economic system.Õ Ð Jane DÕArista, University of Massachusetts at Amherst, US ÔInstitutionalists and Post Keynesians have a great deal in common, so much so that it is surprising how little cooperation there has been between them. This innovative and engaging volume will help to put this right. Several of the contributors identify the ideas of Hyman Minsky as providing a bridge between the two traditions (in much the same way as Micha Kalecki connects Post Keynesian and Marxian thought), suggesting important ways these camps can profit from each otherÕs insights. Across the volume, the crucial concepts of ÔfuturityÕ, expectations and fundamental uncertainty shape the authorsÕ approach to economic theory, while an insistence on the need for a Ômore wisely managed capitalismÕ unites their policy discussions. This book deserves to be widely read; it will have important consequences.Õ Ð John E. King, La Trobe University, Australia This timely book rethinks economic theory and policy by addressing the problem of economic instability and the need to secure broadly shared prosperity. It stresses that advancing economics in the wake of the Great Recession requires an evolutionary standpoint, greater attention to uncertainty and expectations, and the integration of finance into macroeconomics. The result is a broader array of policy options Ð and challenges Ð than conventional economics presents. Building on the pioneering work of Thorstein Veblen, John R. Commons and John Maynard Keynes, the authors synthesize key insights from Institutional and Post Keynesian economics into Post-Keynesian Institutionalism. Then they use that framework to explore an array of economic problems confronting the United States and the world. Inspired by the work of Hyman Minsky, the authors place financial relations at the center of their analysis of how economies operate and change over time. Students and scholars of macroeconomics and public policy will find this book of interest, as will a wider audience of financial analysts, policymakers and citizens interested in understanding economic booms and downturns.
Download or read book Trevor Winchester Swan Volume II written by Peter L. Swan and published by Springer Nature. This book was released on 2023-03-31 with total page 332 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book, the second of two volumes, explores the legacy of Trevor Winchester Swan, often described as Australia’s greatest ever economist. Some of Swan’s most prominent articles are presented alongside analysis of his work from leading historians of economic thought to provide a broad and insightful view of his work. Particular attention is given to Swan’s work on the balance of payments, economic development, capital accumulation, and the neoclassical growth model. This book aims to shed light on the enigmatic and influential life of Trevor Winchester Swan. It will be relevant to students and researchers interested in the history of economic thought and those that want to understand the foundations of modern macro, trade, and neoclassical economics.
Download or read book Method Theory and Policy in Keynes written by Philip Arestis and published by Edward Elgar Publishing. This book was released on 1998 with total page 280 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is the third and final volume of essays celebrating the work and lifetime contribution of Paul Davidson to economics, specifically the development of post Keynesian Economics. The outstanding group of international economists examine areas in which Paul Davidson has an interest, or has made significant contributions. They explore international macroeconomic issues such as consumption and investment, wage and price flexibility, sticky prices and aggregate production, and financial liberalization. Other contributions discuss economic rhetoric and post Keynesian methodological issues while the final part of the book turns to real problems such as the politics and economics of the European Union, the stabilization of the international oil market and realities of financial liberalization.
Download or read book Political Economy written by Fouad Sabry and published by One Billion Knowledgeable. This book was released on 2024-08-06 with total page 240 pages. Available in PDF, EPUB and Kindle. Book excerpt: Explore the complex intersection of politics and economics with "Political Economy," part of the "Political Science" series by Fouad Sabry. This book offers a thorough analysis of how governance and financial systems interact, making it essential for professionals, students, and enthusiasts. Chapters Highlights: - 1: Political Economy - Examines how political structures impact economic activities and policies. - 2: Economic History - Traces the development of economic thought through different civilizations. - 3: Industrial Organization - Analyzes industry structures and market dynamics. - 4: Public Choice - Looks at how political incentives shape economic policies. - 5: Monetary Economics - Investigates monetary policies and their effects on economic stability. - 6: Institutional Economics - Studies the role of institutions in shaping economic behavior. - 7: Computational Economics - Introduces computational methods for economic analysis. - 8: Philosophy and Economics - Explores the philosophical foundations of economic theories. - 9: Heterodox Economics - Offers alternative perspectives on economic behavior and policy. - 10: New Institutional Economics - Examines the impact of institutions on economic performance. - 11: Experimental Economics - Utilizes experiments to test economic theories. - 12: E. Roy Weintraub - Highlights Weintraub’s contributions to economic methodology. - 13: Economic Methodology - Reviews research methods and data interpretation in economics. - 14: Economics Imperialism - Looks at how economic theories extend to other fields. - 15: Economic Justice - Discusses fairness, distribution, and economic inequality. - 16: Agent-Based Computational Economics - Studies how individual behaviors affect macroeconomic outcomes. - 17: Cultural Economics - Analyzes the economic impact of cultural activities and heritage. - 18: Public Economics - Reviews government roles in public goods, taxation, and fiscal policies. - 19: Mathematical Economics - Applies mathematical models to economic analysis. - 20: Rural Economics - Addresses economic issues in rural and agricultural communities. - 21: Demographic Economics - Explores how population changes affect economic factors. "Political Economy" provides valuable insights and a solid foundation for understanding today’s economic challenges.
Download or read book The History of Economic Thought written by Steven G Medema and published by Routledge. This book was released on 2013-05-29 with total page 782 pages. Available in PDF, EPUB and Kindle. Book excerpt: From the ancients to the moderns, questions of economic theory and policy have been an important part of intellectual and public debate, engaging the attention of some of history’s greatest minds. This book brings together readings from more than two thousand years of writings on economic subjects. Through these selections, the reader can see first-hand how the great minds of past grappled with some of the central social and economic issues of their times and, in the process, enhanced our understanding of how economic systems function. This collection of readings covers the major themes that have preoccupied economic thinkers throughout the ages, including price determination and the underpinnings of the market system, monetary theory and policy, international trade and finance, income distribution, and the appropriate role for government within the economic system. These ideas unfold, develop, and change course over time at the hands of scholars such as Aristotle, St. Thomas Aquinas, John Locke, François Quesnay, David Hume, Adam Smith, Thomas Robert Malthus, David Ricardo, John Stuart Mill, Karl Marx, William Stanley Jevons, Alfred Marshall, Irving Fisher, Thorstein Veblen, John Maynard Keynes, Milton Friedman, and Paul Samuelson. Each reading has been selected with a view to both enlightening the reader as to the major contributions of the author in question and to giving the reader a broad view of the development of economic thought and analysis over time. This book will be useful for students, scholars, and lay people with an interest in the history of economic thought and the history of ideas generally.
Download or read book Development Economics in the Twenty First Century written by Claudia Sunna and published by Routledge. This book was released on 2015-12-14 with total page 224 pages. Available in PDF, EPUB and Kindle. Book excerpt: Development Economics has been identified as a homogeneous body of theory since the 1950s, concerned both with the study of development issues and with the shaping of more effective policies for less advanced economies. Development Economics in the Twenty-First Century brings together an international contributor team in order to explore the origins and evolution of development economics. This book highlights the different elements of ‘high development theory’ through a precise reconstruction of the different theoretical approaches that developed between the 1950s and the 1970s. These include the theory of balanced and unbalanced growth theory, the debate on international trade, the concept of dualism, dependency theory, structuralism and the analysis of poverty and institutions. The chapters highlight the relevance and usefulness of these analyses for the contemporary theoretical debate on development issues. Comparative perspectives are explored and analysed, including those of Keynes, Hirschman, Krugman and Stiglitz. The chapters situate development economics within current debates among economists and historians of economic thought, providing a platform for future research. This book is suitable for researchers and students with an interest in Development Economics, the History of Economic development and the Economics of Developing Countries.
Download or read book Dynamic Modeling Empirical Macroeconomics and Finance written by Lucas Bernard and published by Springer. This book was released on 2016-10-03 with total page 332 pages. Available in PDF, EPUB and Kindle. Book excerpt: This edited volume, with contributions by area experts, offers discussions on a range of evolving topics in economics and social development. At center are important issues central to sustainable development, economic growth, technological change, the economics of climate change, commodity markets, long wave theory, non-linear dynamic models, and boom-bust cycles. This is an excellent reference for academic and professional economists interested in emerging areas of empirical macroeconomics and finance. For policy makers and curious readers alike, it is also an outstanding introduction to the economic thinking of those who seek a holistic and all-compassing approach in economic theory and policy. Looking into new data and methodology, this book offers fresh approaches in a post-crisis environment. Set in a profound understanding of the diverse currents within the many traditions of economic thought, this book pushes the established frontiers of economic thinking. It is dedicated to a leading scholar in the areas covered in this book, Willi Semmler.
Download or read book Emerging Economies and the Global Financial System written by Bruno Bonizzi and published by Routledge. This book was released on 2021-05-05 with total page 290 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides a comprehensive overview of the financial integration of emerging economies through an in-depth analysis of the international monetary system, how it impacts capital flows and exchange rates, and its implications for policy making. The financial integration of emerging economies has been a remarkable development of the past two decades. The growth of cross-border transactions and asset ownership, not least through the accumulation of foreign exchange reserves, has put many of these countries in a more prominent, if still peripheral, position within the global financial system. This has not been a smooth process, as integration has been marked by cyclical waves of capital flows, with financial and currency instability often accompanying the acute phases of these cycles. While conventional economic theory traditionally sees financial integration as a positive development, Post-Keynesian economists, working in the tradition of Keynes, Minsky and Kalecki, have long taken a more sceptical viewpoint. By centring the analysis of financial dynamics on concepts as liquidity, uncertainty, balance-sheet structures and institutions, Post-Keynesian theory highlights the intrinsic character of shocks imposed by financial integration upon emerging economies, and their implications for economic growth and distribution. This book demonstrates that these analyses can be fruitfully used to gain a better understanding of financial (in)stability and economic development in emerging economies as they integrate into the global financial system. This work provides key reading for students and scholars of economics, political economy and finance that are interested in the financial integration of emerging economies, and how the heterodox tradition of Post-Keynesian economics contributes to its analysis.
Download or read book Theoretical Approaches to Economic Growth and Development written by Panagiotis E. Petrakis and published by Springer Nature. This book was released on 2020-10-27 with total page 561 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides the theoretical and analytical background critical to understand the process of economic development and growth at the beginning of the 21st century. This book adopts an interdisciplinary approach, using concepts borrowed from related disciplines such as politics, anthropology, psychology, business, and more. The core theme of this book is the argument that different theoretical approaches constitute excellent creative contributions, the study of which is necessary for a complete understanding of development and growth. Thus, this book stands out for its theoretical pluralistic character. The first part of the book provides an introduction to essential methodology terms for the theory of economic development and growth, while the second part outlines important concepts of economic behavior. Part three focuses on the sources of economic growth and their evolution throughout history, and pays special attention to the main theories related to economic growth as well as to the growth and development implications of Covid-19. The book ends with an analysis of international financial architecture and the consolidated financial transaction framework.
