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Economic Development and Financial Instability: Selected essays

  Economic Development and Financial Instability: Selected essays

Author: Jan Kregel

       

 
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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
Structural Banking Reform: An FSB perspective and some alternatives
Andrew Cornford

The author argues that the international reform agenda for financial regulation is fraught with several inconsistencies and weaknesses.

 
Inequality in Mexico
Alice Krozer & Juan Carlos Moreno-Brid

The main reason behind the prevalence of stark inequality in Mexico is the lack of political will by relevant actors to change the situation.

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.

 
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
Social Liberalism and Global Domination
Jose Mauricio Domingues

This article investigates the closed forms of seriality as well as policies of social liberalism that played a crucial role in shaping the present day world.

 
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.

 
Events and Announcements
 
News Analysis
Debt in Asian vulnerability
C.P. Chandrasekhar & Jayati Ghosh

Amidst stock market euphoria, the growing international debt exposure of certain Asian countries, particularly Hong Kong, China and India, is a matter of major concern.

The Gathering Clouds of Recession
Prabhat Patnaik

The world capitalist economy's slide into a new downturn is likely to be a harbinger of major economic and political changes within the structure of world capitalism.

India Concludes Bilateral Agreement with US, Agrees to an Indefinite 'Peace Clause'
Biswajit Dhar

By making a bilateral agreement with the US, India is able to avert any challenge to its food security programme for now, but the programme will be under WTO surveillance.

The Difficult Art of Economic Diversification
C.P. Chandrasekhar & Jayati Ghosh

Indonesia provides a stark example of an economy that diversified its pattern of trade and domestic production, only to relapse back into a dependence on primary exports.

Dilma Rousseff's Victory
Prabhat Patnaik

While Dilma’s victory represents an important step in the right direction, intensified class struggle will be required to sustain the scheme of “transfers” to the working poor.

West Africa's Financial Immune Deficiency
Rick Rowden

A part of the reason why health systems in Africa are ill-equipped to deal with Ebola, lies with the faulty IMF policies.

Trapped in a Recession
C.P. Chandrasekhar

So long as the power held by finance capital remains unchallenged, the IMF may be forced to periodically revise downwards its growth estimates for some time to come.

The Cotton Conundrum
C.P. Chandrasekhar & Jayati Ghosh

China’s decision to liquidate its large raw cotton stocks accumulated as part of a policy of supporting domestic production is hurting the world’s cotton exporters.

Fighting for Policy Space
Jayati Ghosh

The Trade and Development Report, 2014 highlights important dimensions in which policy space is affected and considers how the challenges to national autonomy can be managed.

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.

 
  © International Development
Economics Associates 2014
 

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