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Author: Noemi Levy
Publisher: Routledge
ISBN: 0429874413
Category : Business & Economics
Languages : en
Pages : 436
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Book Description
Financial capital continues to dominate Western economic organisations, despite major financial and economic crises. While these have not affected Latin American countries in the same way, other economic problems emerged after the reversion of loose monetary policies that debilitated the export-led growth model. This book discusses the issue of the financialised globalisation model in Latin America, looking at the region’s relationship with the international market. This edited collection is divided into three main sections. The first section discusses regional trends highlighting issues of trade and payments in financialised economies, the impact on deindustrialisation, its effect on inequality, external capital movements and monetary policies. The second section analyses the failure of comparative advantages of the export-led model in Colombia, Argentina and Mexico. Finally, the last section deals with the growth of financial balance sheets in small and developing economies such as Chile; how growth, investment and big corporation evolution were affected in Brazil and Mexico; and the effects of foreign exchange activity in Mexico. Through these discussions, this book aims to deepen the understanding of the crisis of financialisation and the export-led model, raising the question of whether it is possible for this model to continue or if it requires major readjustments to unfold economic growth. This book provides a distinctive analysis of the financialisation mechanisms in developing countries in order to emphasise affinities and differences between the countries of the region in productive and financial terms. It will be of great interest to economic and social science scholars and students, to journalists specialising on economic and development issues, and, more importantly, to policy makers.
Author: Noemi Levy
Publisher: Routledge
ISBN: 0429874413
Category : Business & Economics
Languages : en
Pages : 436
Get Book Here
Book Description
Financial capital continues to dominate Western economic organisations, despite major financial and economic crises. While these have not affected Latin American countries in the same way, other economic problems emerged after the reversion of loose monetary policies that debilitated the export-led growth model. This book discusses the issue of the financialised globalisation model in Latin America, looking at the region’s relationship with the international market. This edited collection is divided into three main sections. The first section discusses regional trends highlighting issues of trade and payments in financialised economies, the impact on deindustrialisation, its effect on inequality, external capital movements and monetary policies. The second section analyses the failure of comparative advantages of the export-led model in Colombia, Argentina and Mexico. Finally, the last section deals with the growth of financial balance sheets in small and developing economies such as Chile; how growth, investment and big corporation evolution were affected in Brazil and Mexico; and the effects of foreign exchange activity in Mexico. Through these discussions, this book aims to deepen the understanding of the crisis of financialisation and the export-led model, raising the question of whether it is possible for this model to continue or if it requires major readjustments to unfold economic growth. This book provides a distinctive analysis of the financialisation mechanisms in developing countries in order to emphasise affinities and differences between the countries of the region in productive and financial terms. It will be of great interest to economic and social science scholars and students, to journalists specialising on economic and development issues, and, more importantly, to policy makers.
Author: Lena Lavinas
Publisher: Springer
ISBN: 1137491078
Category : Business & Economics
Languages : en
Pages : 233
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Book Description
This book critically addresses the model of social inclusion that prevailed in Brazil under the rule of the Workers Party from the early 2000s until 2015. It examines how the emergence of a mass consumer society proved insufficient, not only to overcome underdevelopment, but also to consolidate the comprehensive social protection system inherited from Brazil’s 1988 Constitution. By juxtaposing different theoretical frameworks, this book scrutinizes how the current finance-dominated capitalism has reshaped the role of social policy, away from rights-based decommodified benefits and towards further commodification. This constitutes the Brazilian paradox: how a center-left government has promoted and boosted financialization through a market incorporation strategy using credit as a lever for expanding financial inclusion. In so doing, it has pushed the subjection of social policy further into the logic of financial markets.
Author: Aldo Madariaga
Publisher: Springer Nature
ISBN: 3030713156
Category : Political Science
Languages : en
Pages : 282
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Book Description
This book contributes to the current revival of dependency approaches for the analysis of global capitalism. Reflecting on contemporary uses of the “Dependency Research Program” (DRP) and a refined analytical toolkit, it makes two distinctive contributions to this revival: the analysis of new “situations of dependency”, and the understanding of the “mechanisms of dependency”. The individual chapters draw from a wide range of cases and data from Latin America and Europe and imbricate concepts and ideas from the DRP with those of other approaches, from post-Keynesian economics to structural economics, institutional economics, regulation theory, comparative capitalisms, business politics, economic geography and critical finance studies, providing a rich array of possibilities for virtuous inter-disciplinary cross-fertilization. This volume is a valuable contribution for those interested in understanding how global capitalism works in Latin America, Europe and beyond.
Author: Max Nagel
Publisher: Taylor & Francis
ISBN: 100098821X
Category : Political Science
Languages : en
Pages : 232
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Book Description
The Governance of Financialization in Latin America and East Asia analyses how states in these areas have adopted different monetary, financial, and foreign exchange policies to govern financialization, which have induced varying levels of state control over financial markets. The book analyzes the puzzling observation of policy divergence by investigating how countries have reacted differently to major financial crises since the 1970s. It shows how Argentina and Japan selected a governance approach to financialization that followed Western prescriptions by propelling unregulated financialization; but also how Chile and South Korea, by contrast, crafted policies to reduce the negative effects of financialization on economic development and financial stability. The book identifies variegated expertise in central banks, ministries of finance, expert commissions, and research institutions that has informed policymaking across Argentina, Chile, Japan, and South Korea since the 1970s. It then demonstrates how governments have used experts to achieve diverse political objectives and explains how governments can use experts to enhance state agency to counter globalization pressures. This book will appeal to scholars of International Political Economy, comparative politics, economics, sociology, development studies, and Latin American and East Asian history. It will also be of interest to economists and policymakers who want to safeguard financial stability and promote economic growth.
Author: Carlos Eduardo Martins
Publisher: BRILL
ISBN: 9004415548
Category : Social Science
Languages : es
Pages : 375
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Book Description
The Marxist Theory of Dependency (TMD) managed to articulate the insertion of peripheral societies into the international market with the capital accumulation processes of each country. It has become an essential theory for the understanding of our societies. Since Ruy Mauro Marini laid out its foundations, many transformations have occurred in global capitalism and in our societies, leaving us the challenge of updating it against a more complex context. The real test of theory is its adequacy as an instrument of understanding contemporary reality. The TMD has been enriched and renewed from this work of Carlos Eduardo Martins. It considers capitalism from the perspective of anti-capitalism, dependence from the standpoint of emancipation and reality through a vision for its revolutionary transformation. Emir Sader - CLACSO General Secretary (2006-2012) This book is a revised edition of a work first published in 2011 as Globalização, dependência e neoliberalismo na América Latina by Boitempo Editorial, São Paulo, Brazil. La teoría marxista de la dependencia (TMD) logró articular la inserción de las sociedades periféricas en el mercado internacional con los procesos de acumulación de capital de cada país. Se ha convertido en una teoría esencial para la comprensión de nuestras sociedades. Desde que Ruy Mauro Marini expuso sus fundamentos, muchas transformaciones ocurrieron en el capitalismo global y en nuestras sociedades, poniendo el desafío de actualización en condiciones más complejas La prueba real de la teoría es su adecuación como instrumento de comprensión de la realidad contemporánea. La TMD sale enriquecida y renovada de esta obra de Carlos Eduardo Martins dedicada a pensar el capitalismo bajo la perspectiva del anticapitalismo, la dependencia en la óptica de la emancipación y la realidad en la perspectiva de su transformación revolucionaria. Emir Sader - Secretario General CLACSO (2006-2012)
Author: Luci Cavallero
Publisher:
ISBN: 9781786808479
Category : Debt
Languages : en
Pages : 0
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Book Description
Author: Peter James Hudson
Publisher: University of Chicago Press
ISBN: 022645925X
Category : Social Science
Languages : en
Pages : 370
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Book Description
From the end of the nineteenth century until the onset of the Great Depression, Wall Street embarked on a stunning, unprecedented, and often bloody period of international expansion in the Caribbean. A host of financial entities sought to control banking, trade, and finance in the region. In the process, they not only trampled local sovereignty, grappled with domestic banking regulation, and backed US imperialism—but they also set the model for bad behavior by banks, visible still today. In Bankers and Empire, Peter James Hudson tells the provocative story of this period, taking a close look at both the institutions and individuals who defined this era of American capitalism in the West Indies. Whether in Wall Street minstrel shows or in dubious practices across the Caribbean, the behavior of the banks was deeply conditioned by bankers’ racial views and prejudices. Drawing deeply on a broad range of sources, Hudson reveals that the banks’ experimental practices and projects in the Caribbean often led to embarrassing failure, and, eventually, literal erasure from the archives.
Author: Chris Hann
Publisher: Berghahn Books
ISBN: 1789207525
Category : Business & Economics
Languages : en
Pages : 358
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Book Description
Beginning with an original historical vision of financialization in human history, this volume then continues with a rich set of contemporary ethnographic case studies from Europe, Asia and Africa. Authors explore the ways in which finance inserts itself into relationships of class and kinship, how it adapts to non-Western religious traditions, and how it reconfigures legal and ecological dimensions of social organization, and urban social relations in general. Central themes include the indebtedness of individuals and households, the impact of digital technologies, the struggle for housing, financial education, and political contestation.
Author: Dariusz Wójcik
Publisher: Oxford University Press
ISBN: 0191072176
Category : Business & Economics
Languages : en
Pages : 1145
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Book Description
The first fifteen years of the 21st century have thrown into sharp relief the challenges of growth, equity, stability, and sustainability facing the world economy. In addition, they have exposed the inadequacies of mainstream economics in providing answers to these challenges. This volume gathers over 50 leading scholars from around the world to offer a forward-looking perspective of economic geography to understanding the various building blocks, relationships, and trajectories in the world economy. The perspective is at the same time grounded in theory and in the experiences of particular places. Reviewing state-of-the-art of economic geography, setting agendas, and with illustrations and empirical evidence from all over the world, the book should be an essential reference for students, researchers, as well as strategists and policy makers. Building on the success of the first edition, this volume offers a radically revised, updated, and broader approach to economic geography. With the backdrop of the global financial crisis, finance is investigated in chapters on financial stability, financial innovation, global financial networks, the global map of savings and investments, and financialization. Environmental challenges are addressed in chapters on resource economies, vulnerability of regions to climate change, carbon markets, and energy transitions. Distribution and consumption feature alongside more established topics on the firm, innovation, and work. The handbook also captures the theoretical and conceptual innovations of the last fifteen years, including evolutionary economic geography and the global production networks approach. Addressing the dangers of inequality, instability, and environmental crisis head-on, the volume concludes with strategies for growth and new ways of envisioning the spatiality of economy for the future.
Author: John Bellamy Foster
Publisher: Monthly Review Press
ISBN: 1583676791
Category : Business & Economics
Languages : en
Pages : 239
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Book Description
The days of boom and bubble are over, and the time has come to understand the long-term economic reality. Although the Great Recession officially ended in June 2009, hopes for a new phase of rapid economic expansion were quickly dashed. Instead, growth has been slow, unemployment has remained high, wages and benefits have seen little improvement, poverty has increased, and the trend toward more inequality of incomes and wealth has continued. It appears that the Great Recession has given way to a period of long-term anemic growth, which Foster and McChesney aptly term the Great Stagnation. This incisive and timely book traces the origins of economic stagnation and explains what it means for a clear understanding of our current situation. The authors point out that increasing monopolization of the economy—when a handful of large firms dominate one or several industries—leads to an over-abundance of capital and too few profitable investment opportunities, with economic stagnation as the result. Absent powerful stimuli to investment, such as historic innovations like the automobile or major government spending, modern capitalist economies have become increasingly dependent on the financial sector to realize profits. And while financialization may have provided a temporary respite from stagnation, it is a solution that cannot last indefinitely, as instability in financial markets over the last half-decade has made clear.
