The latest global financial and economic crisis of 2008 has shown the need to re-examine the desirability of financial liberalization. This book is undertaking such a study on the issue of financial a
Capital market liberalization has been a key battle in the debate on globalization for much of the previous two decades. Many developing countries, often at the behest of international financial insti
Can knowledge of financial policies in developing countries over four decades help the socialist economies of Asia and Eastern Europe become open market economies in the 1990s? In all these countries
This book looks at numerous financial crises, beginning with Mexico in 1994–5, the Asian crisis of 1997–8, and the crises in Russia, Brazil, and other Latin American countries in 1998–9. Such contemporary crises illustrate the risks of financial volatility and macroeconomic instability during the process of economic growth and development. They also raise issues regarding the management of risks associated with liberalization and global integration, particularly in financial markets. Concerns about the implications of international capital flows for developing countries have grown with the sharply increased volume of these flows since the late 1980s. The essays in this volume provide analysis and evidence on the determinants of currency and banking crises in emerging markets, the specific roles of capital flows and the financial sector, and the appropriateness of various policy responses.
This book looks at numerous financial crises, beginning with Mexico in 1994–5, the Asian crisis of 1997–8, and the crises in Russia, Brazil, and other Latin American countries in 1998–9. Such contemporary crises illustrate the risks of financial volatility and macroeconomic instability during the process of economic growth and development. They also raise issues regarding the management of risks associated with liberalization and global integration, particularly in financial markets. Concerns about the implications of international capital flows for developing countries have grown with the sharply increased volume of these flows since the late 1980s. The essays in this volume provide analysis and evidence on the determinants of currency and banking crises in emerging markets, the specific roles of capital flows and the financial sector, and the appropriateness of various policy responses.
This book presents a global analysis of the distribution of pay, deploying systematic new measurements on a large scale. Contributions cover the US wage structure back to 1920 and up to 1998, pay inequality and unemployment in Europe since 1970, and the evolution of inequality alongside industrial growth, liberalization, financial crisis, state violence and industrial policy in more than fifty developing countries. The essays evaluate the major debates over rising inequality, and support the emerging view that there exists a powerful macro-dynamics of pay inequality in both rich and poor countries - a view whose origins go back to Keynes and Kuznets. Several papers present detailed descriptions of a new global pay inequality data set based on Theil's T statistic; theoretical and methodological chapters permit students and specialists full access to the measurements and to the non-parametric statistical techniques underlying these studies.
