The Handbook of the Political Economy of Financial Crises PDF Download
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Author: Martin H. Wolfson
Publisher: OUP USA
ISBN: 0199757232
Category : Political Science
Languages : en
Pages : 785
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Book Description
The Great Financial Crisis that began in 2007-2008 reminds us with devastating force that financial instability and crises are endemic to capitalist economies. This Handbook describes the theoretical, institutional, and historical factors that can help us understand the forces that create financial crises.
Author: Martin H. Wolfson
Publisher: OUP USA
ISBN: 0199757232
Category : Political Science
Languages : en
Pages : 785
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Book Description
The Great Financial Crisis that began in 2007-2008 reminds us with devastating force that financial instability and crises are endemic to capitalist economies. This Handbook describes the theoretical, institutional, and historical factors that can help us understand the forces that create financial crises.
Author: Jihad Dagher
Publisher: International Monetary Fund
ISBN: 1484337786
Category : Business & Economics
Languages : en
Pages : 89
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Book Description
Financial crises are traditionally analyzed as purely economic phenomena. The political economy of financial booms and busts remains both under-emphasized and limited to isolated episodes. This paper examines the political economy of financial policy during ten of the most infamous financial booms and busts since the 18th century, and presents consistent evidence of pro-cyclical regulatory policies by governments. Financial booms, and risk-taking during these episodes, were often amplified by political regulatory stimuli, credit subsidies, and an increasing light-touch approach to financial supervision. The regulatory backlash that ensues from financial crises can only be understood in the context of the deep political ramifications of these crises. Post-crisis regulations do not always survive the following boom. The interplay between politics and financial policy over these cycles deserves further attention. History suggests that politics can be the undoing of macro-prudential regulations.
Author: Stephan Haggard
Publisher: Columbia University Press
ISBN: 088132308X
Category : Political Science
Languages : en
Pages : 291
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Book Description
The Asian crisis has sparked a thoroughgoing reappraisal of current international financial norms, the policy prescriptions of the International Monetary Fund, and the adequacy of the existing financial architecture. To draw proper policy conclusions from the crisis, it is necessary to understand exactly what happened and why from both a political and an economic perspective. In this study, renowned political scientist Stephan Haggard examines the political aspects of the crisis in the countries most affected—Korea, Thailand, Malaysia, and Indonesia. Haggard focuses on the political economy of the crisis, emphasizing the longer-run problems of moral hazard and corruption, as well as the politics of crisis management and the political fallout that ensued. He looks at the degree to which each government has rewoven the social safety net and discusses corporate and financial restructuring and greater transparency in business-government relations. Professor Haggard provides a counterpoint to the analysis by examining why Singapore, Taiwan, and the Philippines escaped financial calamity.
Author: Gregory Sholette
Publisher: Pluto Press
ISBN: 9780745333694
Category : Art
Languages : en
Pages : 0
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Book Description
It's the Political Economy, Stupid brings together internationally acclaimed artists and thinkers, including Slavoj Žižek, David Graeber, Judith Butler and Brian Holmes, to focus on the current economic crisis in a sustained and critical manner. Following a unique format, images and text are integrated in a visually stunning bespoke production by activist designer Noel Douglas. What emerges is a powerful critique of the current capitalist crisis through an analytical and theoretical response and an aesthetic-cultural rejoinder. By combining artistic responses with the analysis of leading radical theorists, the book expands the boundaries of critique beyond the usual discourse. It's the Political Economy, Stupid argues that it is time to push back against the dictates of the capitalist logic and, by use of both theoretical and artistic means, launch a rescue of the very notion of the social.
Author: Andrea Fumagalli
Publisher: Semiotext(e) / Active Agents
ISBN:
Category : Business & Economics
Languages : en
Pages : 312
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Book Description
'Crisis in the Global Economy' reflects on the state of global capitalism, developed in the mobile 'multiversity' of the UniNomade network of international researchers and activists during the months immediately following the first signals of the current financial and economic crisis.
Author: Nolan McCarty
Publisher: Princeton University Press
ISBN: 1400846390
Category : Political Science
Languages : en
Pages : 369
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Book Description
How governmental failure led to the 2008 financial crisis—and what needs to be done to avoid another similar event Behind every financial crisis lurks a "political bubble"—policy biases that foster market behaviors leading to financial instability. Rather than tilting against risky behavior, political bubbles—arising from a potent combination of beliefs, institutions, and interests—aid, abet, and amplify risk. Demonstrating how political bubbles helped create the real estate-generated financial bubble and the 2008 financial crisis, this book argues that similar government oversights in the aftermath of the crisis undermined Washington's response to the "popped" financial bubble, and shows how such patterns have occurred repeatedly throughout US history. The authors show that just as financial bubbles are an unfortunate mix of mistaken beliefs, market imperfections, and greed, political bubbles are the product of rigid ideologies, unresponsive and ineffective government institutions, and special interests. Financial market innovations—including adjustable-rate mortgages, mortgage-backed securities, and credit default swaps—become subject to legislated leniency and regulatory failure, increasing hazardous practices. The authors shed important light on the politics that blinds regulators to the economic weaknesses that create the conditions for economic bubbles and recommend simple, focused rules that should help avoid such crises in the future. The first full accounting of how politics produces financial ruptures, Political Bubbles offers timely lessons that all sectors would do well to heed.
Author: Shale Asher Horowitz
Publisher: Rowman & Littlefield
ISBN: 9780742501331
Category : Business & Economics
Languages : en
Pages : 318
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Book Description
The world financial crisis of 1997-99 was the most important international economic event since the oil shocks of the 1970s and the associated debt crisis of the 1980s. What were its political causes and consequences? In particular, how did interest group coalitions and political institutions affect pre-crisis economic policies and post-crisis responses? This book focuses on how policymaking coalitions are formed and how political institutions mediate the pressure of rival coalitions. This approach is applied to 13 countries drawn from the main crisis-affected regions of the world economy East Asia, Southeast Asia, Latin America and Eastern Europe."
Author: Aida A. Hozic
Publisher: Oxford University Press
ISBN: 0190204249
Category : Business & Economics
Languages : en
Pages : 353
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Book Description
This book is about the neglect of gender and race in explanations of the Global Financial Crisis. It is also about the sexual scandals and gendered austerity policies that have relegated public debate, and the crisis itself. We need to look at the activities and the privileges of the advantaged - the "TED women" of the crisis -- as much as the victimization of the disadvantaged - to fully grasp the interplay between gender and economy in this age of restoration.
Author: Francisco Panizza
Publisher: Routledge
ISBN: 1135050791
Category : Political Science
Languages : en
Pages : 246
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Book Description
The current financial and sovereign debt crisis of the European Union and the United States can be regarded as the most recent of a wave of financial and sovereign debt crises that have affected different regions of the world over the past quarter century. While there is a large and growing body of literature on the economic aspects of financial crises, its political elements remain surprisingly under-studied. Moments of Truth: The Politics of Financial Crises in Comparative Perspective fills this gap in the literature by looking at the political repercussions and policy implications of financial crises in comparative perspective, using case studies in Latin America, Korea, and Russia, as well as the contemporary crises in the US and in key European countries. Contributors to this volume look at the crises as critical junctures that generate high levels of uncertainty while calling for decisive action. The chapters emphasize structural or agency based explanations and give relevance to the role of ideas, interests, and institutions in explaining different outcomes. The questions addressed by the case studies include: how the crises were defined by key actors, the range of political and policy options available to deal with their impact, the role of ideas in policy shifts, how political and economic actors redefine their interests in contexts of uncertainty, how political institutions mediate reactions to the crises, what explains the choice of a certain option over other alternatives, and whether the crisis has (so far) resulted in significant political and policy changes or in incremental adjustments to the status quo. The first book to comparatively analyze the political dimensions of financial crises across different global regions, Moments of Truth will be highly significant for any scholars interested in the contemporary debate on financial crises.
Author: Ensar Yılmaz
Publisher: Routledge
ISBN: 1000163423
Category : Business & Economics
Languages : en
Pages : 359
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Book Description
Incorporating a broad range of economic approaches, Understanding Financial Crises explores the merits of various arguments and theories which have been used to explain the causes of financial crises. The book explores eight of these different explanations: underconsumption, debt accumulation, financialization, income inequality, financial fragility, tendency of rate of profit to fall, human behavior, and global imbalances. The introduction provides a brief overview of each argument along with a comparison of their relative merits. Each chapter then introduces one of the arguments, explores a historical case, and focuses on the insights that can be gleaned into the global crisis in 2007–2008. The book draws on insights from various schools of thought including post-Keynesian economics, Marxist economics, behavioral economics, neoclassical economics, and more, to provide a pluralist overview of the causes of economic crises in general and the Great Recession in particular. This book marks a significant contribution to the literature on economic and financial crises, political economy and heterodox economics. It is well suited to academicians, practitioners, and financial analysts working within the relevant fields.
