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Suggests that it would be more appropriate to think in terms of a 'development crisis' rather than in terms of a questioning of the system as a whole: the essential services the welfare state renders must not be lost sight of, despite their defects and present problems. Two main aspects of this developmental crisis have come to the fore: a financial crisis, and a crisis in terms of effeciency/effectiveness. (JLN)

1. Goals of Economic Policy and Weaknesses in the Approach of Economics -- 2. The Image of Man -- 3. Market and Competition -- 4. Economic Systems -- 5. Market Failure and Economic Policy -- 6. Traits of the Political System -- 7. Financial Markets after the Financial Crisis -- 8. Business Cycles Theory and Policy -- 9. Final Conclusion -- 10. Solutions to the Exercises.

The process of Asia's rise to a position of eminence in global finance has accelerated in thewake of the international financial crisis, posing new opportunities and challenges to both the Asianeconomies and the global financial and trade systems. This volume represents a significant newendeavour to explore and understand the dynamics created by this process of transition

This volume examines issues of economic interest faced by Latin America economies in the late Twentieth-century. The fifteen chapters deal with macroeconomic problems, financial crises, the development of trade and trade agreements and labour issues. Of particular interest are the chapters dealing with Argentina, which provide an absorbing background to the financial crisis faced today

The recent financial crisis proved that losses in the banking system could be significant and offsetting them takes quite the time. The natural consequence is European financial institutions' striving for not allowing repeated loan expansion and bearing unreasonably high risks on behalf of banks. This striving is reflected in the new legal framework of the European Union.

This article is a short introduction to a special section on economic ideas and the political construction of the financial crash. It begins by explaining why economic ideas and the politics of appeals to certain ideas are so integral to the historical significance of the crash of 2008 and the question of whether it can be considered a crash at all. The first section covers the literature on ideas and economic crisis. The second section highlights that the contribution of the special section is to engage in a stock taking exercise of the empirical and conceptual patterns concerning the politics of ideational change underway in the areas of: comparative fiscal policy; monetary policy and Euro zone debt management; capital controls; and financial and securities market regulation and standard setting. The final section outlines the structure of this special section and content of the individual articles.

The current condition of economic openness is both an opportunity and a challenge that must be faced wisely by the government. Liberalization and economic integration will have an impact on financial market liberalization, which is highly vulnerable to create crisis in a banking system. This study aims to analyze the factors that influence the stability of the financial system in Indonesia by using the Error Correction Model (ECM). The variables used in this research is Capital Banking Credit sourced from Statistics Indonesia (BPS) and Exchange Rate, Inflation, and Money Supply sourced from the International Monetary Fund (IMF) between 2010 and 2015. The results of the study show that; 1) ECT coefficient which has negative and significant value explains that the model is valid. 2) Inflation significantly affects the stability of the financial system in Indonesia in the long and short term

The global financial crisis had immediate and profound impacts on pension and insurance company assets intended to finance millions of peoples' retirement. This volume illustrates several ways in which retirement risk management should be conceived of differently from bank practice.

This important collection is a timely contribution to the debate on the Asian financial crisis. With chapters written by well-established international experts in Asian economics, this book constitutes a finely judged example of the varying opinions on the matter

Discusses informational role of banks in support of securities market operations, focusing on ABS markets.

This work aims to analyze the co-movements between the Portuguese, Greek, Irish and German government bond markets after the subprime crisis (2007 to 2013). Additionally, it aims to test the existence of contagion between the Portuguese, Greece and Irish bond markets, and to explore the phenomenon of flight-to-quality from the Portuguese and Greek bond markets to the German market. The analysis is undertaken using a DCC-IGARCH model with daily data for the 10 year yields government bonds. Results suggest the existence of contagion between the Greek and the Portuguese markets, and to a lesser extent between the Irish and the Portuguese markets. The correlation between the Portuguese and Greek yields at the end of the analyzed period indicates the non-existence of decoupling between the two countries. During most of the identified crisis periods, flight-to-quality flows are evident from the Portuguese and Greek bond markets to the German market. ; FCT

Once an integral component of company-sponsored compensation schemes in many western economies, private defined benefit (DB) pensions are in decline. For many, DB schemes (and their related health care liabilities, depending on the jurisdiction) have hobbled the financial well-being of plan sponsors and even whole sectors of industry. If a constraint on shareholder value in the short–term, these schemes threaten long-term corporate survival in the emerging global economy. While there remains considerable debate over the ability of financial markets to adequately price DB liabilities, there is a growing industry devoted to estimating their long-term risks with respect to longevity, inflation and cost. In this paper, we survey the nature and significance of the problem, focusing upon UK and US private employer sponsored plans. It is suggested that the "crisis" was apparent, for those willing to look, a decade ago. Its significance was papered-over by the 1990s stock market bubble and high interest rates but has returned through what many analysts identify as a "perfect storm". Having documented the nature and scope of the "perfect storm", we also evaluate proffered solutions to the crisis, such as financial engineering, government intervention, and private sector negotiation. In the final sections of the paper, we set-out the principles that should guide the design of new kinds of employer sponsored plans noting that if, as suggested by many experts, western economies are entering an era of increasing labor shortage, private pensions will continue to have an important role in managing human capital.

Significant international attention has been directed to the most pressing problem of the financial crisis of 2008/2009 -- global liquidity shortages. The use of adequate foreign exchange reserves during the crisis helped alleviate pressures. However, this was only partially effective in a number of important cases. Some countries also needed to rely on external official financing. The aim of this article is to compare and analyse the main sources of official global liquidity -- foreign exchange reserves, bilateral swap lines of central banks, regional financial arrangements arid IMF resources. To reach effective outcomes in relation to the accumulation of FX reserves and a strengthening of the global financial safety nets, effective international coordination will be necessary. Adapted from the source document.