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Featured Themes
The BRICS Bank

The announcement of a BRICS development bank in the context of the ongoing global economic turmoil assumes a specila significance. Some perceive it as an alternative to the already discredited World Bank with its North Centric leadership resulting in a dogmatic imposition of neo-liberal conditionalities on the indebted South; many assume this as a watershed, signaling the shift in global economic governance from the traditional powerhouses of the North to the newly emerging powerhouses of the South; while others perceive it as a tool to be used by the member countries to increase their influence in their respective Southern pockets.
  
This section includes articles analysing the emergence of BRICS Development Bank and its possible implications for global economic governance, regional impact of the BRICS nations, and other repercussions.

    
Banking with a Difference 
C.P. Chandrasekhar 
 (August 12, 2014)
   
The BRICS Bank 

Prabhat Patnaik (July 31, 2014)
   
BRICS Gains Currency in Brazil
Biswajit Dhar (July 25, 2014)
    

The BRICS Bank: Part of a new financial architecture (2)  
(Oscar Ugarteche (July 25, 2014)
    
The BRICS Bank: Part of a new financial architecture (1)  
Oscar Ugarteche (July 25, 2014)
    

Using the Potential of BRICS Financial Co-operation
 
Jayati Ghosh (April 9, 2012)
 

Featured Articles
Europe's Hunger Games: Income distribution, cost competitiveness and crisis
Servaas Storm & C.W.M. Naastepad

The dominant view, both on the mainstream right and on the left, which holds that the Eurozone crisis is a crisis of labour-cost competitiveness, is wrong and unhelpful.

 
Responding to the Unemployment Challenge: A job guarantee proposal for Greece
Rania Antonopoulos, Sofia Adam, Kijong Kim, Thomas Masterson, Dimitri B. Papadimitriou

This report, by the Levy Institute and INE-GSEE, presents research based evidence of the macroeconomic and employment effects of a large-scale direct job creation intervention.

Minsky and Dynamic Macroprudential Regulation
Jan Kregel

Minsky argued for a dynamic regulatory structure to deal with financial instability; the key is to regulate the growth of assets relative to the GDP growth for a country.

 
Statistics for International Trade in Banking Services: Requirements, availability and prospects
Andrew Cornford

This paper addresses the availability of statistical data for international trade in banking services, required for WTO negotiations and work on other aspects of the GATS.

 
Alternatives
Some Ideas on Bank Size, Structure and Remuneration
Andrew Cornford

Overview of current reform and proposals regarding bank structure and corporate form and bankers’ remuneration, with special references to Daniel Tarullo and David Shirreff.

 
Charting Ways Out of Europe's Impasse - A Policy Memorandum
WIIW

A memorandum, based on a 3-year research project, discussing possible ways out of prolonged stagnation and low growth due to recent crisis and austerity measures in EU.

 
IDEAs Working  Papers
IDEAs Working  Papers
 
 
IDEAs Activities
 
Focus
The Age of Microfinance: Destroying Latin American economies from the bottom up
Milford Bateman

The article argues that microfinance destroyed economic and social policy intervention and gave impetus to an adverse ‘anti-development’ trajectory in Latin America.

 
Reducing Inequality: Learning lessons for the post-2015 agenda – India case study
ERF & Save the Children, UK

Economic Research Foundation (ERF) in association with Save the Children, UK undertook this study on the impact of inequality on children in India.

 
Events and Announcements
 
News Analysis
The Herd Instinct at Work?
C.P. Chandrasekhar

The SENSEX is driven by herd instinct of FII inflow coming with assumptions which are at best speculative; the trend may get reversed in case of a rise in the interest rate.

India Faces Criticism for Blocking Global Trade Deal, But is it Justified?
Jayati Ghosh

Contrary to wider perception, the bigger risk to the multilateral trading system comes from the developed world failing to listen to the concerns of developing countries.

Why Asia is Probably Poorer than We Think
Jayati Ghosh

Asia’s ‘success’ in reducing poverty uses a flawed system for measuring income on the basis of an average value based on Purchasing Power Parity and ignores food insecurity.

Forget Me, Forget Me Not: Productivity and the minimum wage in Mexico
Juan Carlos Moreno-Brid & Stefanie Garry

Analysing the experience of Mexico, the authors argue that the transfer of labour productivity benefits to minimum wage workers is far from automatic or guaranteed.

World Trade Organisation Bigwigs Blocking Bid for a Balanced Deal
Biswajit Dhar

The dominant interests in WTO are forcing out disproportionate gains from the Bali Package by discussing solely on trade facilitation issues while ignoring other elements.

High Time to be Analytical, aware of History - And Angry
Gabriele Köhler

A belligerent development debate committed to a just global society is needed today to correct for the gross income inequality prevailing at present.

The Rise and Fall of the Global South
Prabhat Patnaik

The south that was supposedly rising is now witnessing a fall and this can be prevented only if the domestic market is expanded through egalitarian measures of redistribution.

The Argentina Debt Case
Jayati Ghosh

The recent ruling by the US Supreme Court in favour of vulture capital funds on Argentina’s debt restructuring case defies both US laws and international norms.

Locking Out Financial Regulation
C.P. Chandrasekhar & Jayati Ghosh

The proposed deal on trade in financial services that has just been exposed by Wikileaks has serious implications even for countries that are not involved in the negotiations.

The Moves towards 'De-Dollarization'
Prabhat Patnaik

The de-Dollarisation attempts by Russia via the recent trade deals with China and Iran can have major consequences, but may be difficult to sustain due to internal pressures.

Chinese Dreams
C.P. Chandrasekhar

The pursuit of the Chinese dream may become a nightmare for the majority as it involves reduction of expenditures on food subsidies and other welfare measures.

No Help from Abroad
C.P. Chandrasekhar

The author here shows that the OECD’s optimistic growth projections are questionable and the global environment confronting the new government of India is not favourable.

Shadow Banking in South-East Asia
Lim Mah-Hui

In this note the author defines shadow banking and then explains its spread and drivers as well as its benefits and risks in South-East Asia.

 
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Economics Associates 2014
 

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