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This text addresses the 2008 financial crisis originating in developed countries that will have a major impact on developing countries, as it spreads globally. It discusses the underlying reasons behind the crisis and suggests solutions that can help prevent such a crisis in the future

This book examines rating agencies role in the recent financial crisis and proposed reforms. It summarizes the key causes that have led to the crisis, analyzes points of criticism and accusations leveled at rating agencies, and discusses proposals towards regulatory reform. The author takes rating agencies position regarding these accusations and proposals into account. In contrast to other studies focusing only on US and EU regulatory issues, this study also considers whether responses from other countries could deliver a feasible path in adopting new regulations. The author examines in a cross-country qualitative manner stakeholder perceptions with respect to rating agencies. Based on empirical findings the study discusses how perceived or revealed shortcomings can be solved.--

This volume collects the views of philosophers, economists, businessmen, and public intellectuals who, following Hannah Arendt's approach, suggest that the financial crisis has its roots in the transformed relation of politics and economics. In short, as politics is made subservient to economics, we have subverted the political and ethical boundaries that traditionally limit economic decisions. By reaching beyond "how" the crisis happened to "why" the crisis happened, the authors re-imagine the recent financial crisis and thus provide fresh thinking about how to respond.

How do economists reconcile their expertise with their failures to predict and manage the 2008 financial crisis? This book goes a long way toward an answer by using systems theory to reveal the complex interdependence of factors and forces behind the crisis. In her fully integrated view of the economy, how it works, and how the economic crisis burst, Karen Higgins combines human psychology, cultural values, and belief formation with descriptions of the ways banks and markets succeed and fail. In each chapter she introduces themes from financial crisis literature and brings a systems-theory treatment of them. Her methodology and visual presentations both develop the tools of systems theory and apply these tools to the financial crisis. Not just another volume about the crisis, this book challenges the status quo through its unique multidisciplinary approach. Presents a broad global view of international economic health and international corporate health Describes how policies, regulations, and trends dating to the 1950s influenced the crisis Assumes readers possess a general familiarity of economics and finance.

Using the same presentation and detail that has earned her such wide-ranging acclaim for her previous books, Padma Desai explains in a course-friendly way the complexities of economic policy and financial reform. She merges a compelling narrative with scholarly research to teach and to engage the reader. Paul Krugman described Desai's 2003 volume, Financial Crisis, Contagion, and Containment: From Asia to Argentina, as the "best book yet on financial crises." Her most recent work on Russian reform was a "pick of 2006" by the Financial Times.Desai begins with a systematic breakdown of the facto

Over the last two decades there has been a notable increase in the number of corporate governance codes and principles, as well as a range of improvements in structures and mechanisms. Despite this, corporate governance failed to prevent a widespread default of fiduciary duties of corporate boards and managerial responsibilities in the finance industry, which contributed to the 2007–10 global financial crisis. This book brings together leading scholars from North America, Europe, Asia-Pacific and the Middle East to provide fresh and critical analytical insights on the systemic failures of corporate governance linked to the global financial crisis. Contributors draw from a range of disciplines to demonstrate the severe limitations of the dominant corporate governance framework and its associated market-oriented approach. They provide suggestions on how the governance problems could be tackled to prevent or mitigate any future financial crisis and explore new directions for post-crisis corporate governance research and reforms.

Housing markets are at the centre of the recent global financial turmoil. In this well-researched study, a multidisciplinary group of leading analysts explores the impact of the crisis within, and between, countries. The impacts of the so-called global crisis are, in fact, highly uneven for both households and institutions. This unique book investigates why this is the case, whilst emphasizing the consequences. It encompasses the experiences of all the major economies, including: Australia, China, Hong Kong, Hungary, Iceland, Ireland, Japan, New Zealand, the Netherlands, South Korea, the USA

Supported by ten years of research, Wigmore has gathered extensive data covering the 2008 financial crisis and subsequent recovery to provide the first comprehensive history of the period. Financial crises cannot occur unless institutional investors finance the bubbles that created them. Wigmore follows the trail of data putting pressure on institutional investors to achieve higher levels of returns that led to over-leverage throughout the financial system and placed such a burden on recovery. Here is a 'very good picture - and painful reminder - of the crisis' evolution across multiple asset classes, structures, participants, and geographies.' This work serves as a critical analysis of modern portfolio management and an important reference work for financial professionals, academics, investors, and students.

Four years have passed since the onset of the 2008 global crisis, and although some believe that there may be a second down draft soon, attention has shifted from crisis narration to assessing lessons essential for preventing or managing recurrences. The exercise is worthy, but there is always the danger of preparing for the last war when the next attack takes another form. Prevention and Crisis Management addresses this problem by highlighting the future threat to Asia from a broader perspective that takes account of the Japanese and Asian financial crises during the 1990s as well as the global crisis of 2008. The enlarged framework turns out to be illuminating for two distinct reasons. First, it reveals that Asian crises take many diverse forms, and second, the solutions devised to date have only been locally and not universally effective. Policymakers are accordingly advised to always plan for the element of surprise

Indonesia's economy since independence -- Contents -- Preface -- Acknowledgements -- Introduction: a short historical overview of Indonesia's economy since independence — essays -- Part I: The early independence period in the 1950s -- 1. Indonesianization : economic aspects of decolonization in the 1950s -- 2. Indonesia's first affirmative policy: the benteng programme in the 1950s -- 3. The debate on economic policy in newly-independent Indonesia between Sjafruddin Prawiranegara and Sumitro Djojohadikusumo -- Part II: The Soeharto era: 1966-1998 -- 4. Indonesia's economic development during and after the Soeharto era: achievements and failings -- 5. The impact of the two oil booms of the 1970s and the post-oil boom shock of the early 1980s on the Indonesian economy -- Part III: The Asian financial crisis and the global financial crisis -- 6. Indonesia's two deep economic crises: the mid-1960s and late 1990s -- 7. The impact of the global financial crisis on the Indonesian economy and the prospects for the resumption of rapid and sustained growth -- 8. Indonesia and the BRICs -- Part IV: Industrial development -- 9. Indonesia's industrial policies and development since independence -- 10. Policies affecting Indonesia's industrial technology development -- 11. The major channels of international technology transfer to Indonesia: an assessment -- 12. The Indonesian wood products industry -- 13. The development of labour-intensive garment manufacturing in Indonesia -- 14. Indonesia's auto parts industry -- Index.

Intro -- Acknowledgements -- Contents -- List of Figures -- List of Tables -- Introduction -- Structure of the Book -- Chapter 1: The Rise and Fall of British Finance -- The Financialisation of the UK Economy -- Explaining Political Sponsorship of Financialisation: Privatised Keynesianism, Elite Story Telling and Regulatory Closure -- The Fall of Finance -- The Financialisation of the Circuit of Communication -- References -- Chapter 2: The Banking Crisis: Content Studies -- Introduction -- Why Did It Happen? -- How to Respond to the Crisis? -- Research Methods: Content Analysis -- Newspaper Sample -- Broadcast News Sample -- Newspaper Findings: Sample 1 (6 October 2008-17 October 2008) -- Who and What Caused the Crisis? -- Who Gets to Speak? -- Discussion of the Bank Rescue Plans: Costs, Downsides and Alternatives -- How to Reform the Financial System? (Sample One: 6 October 2008-17 October 2008) -- Newspaper Findings: Sample 2 (6 July 2009-10 July 2009) -- How to Reform the Financial System? -- Broadcast Findings: Sample 1 (15 September-31 October 2008) -- Patterns of Source Access -- Broadcast Findings: Sample 2 (6 October 2008-17 October 2008) -- Who and What Caused the Crisis -- Evaluations of the Bank Rescue Plans -- Reforms to the Banking/Financial System -- Broadcast Sample 3 (1 January-31 July 2009) -- Patterns of Source Access -- The Debate Over Nationalisation -- Reforms to the Sector? -- The Post-Crisis Politics of Regulatory Closure -- Conclusion: A Missed Opportunity to Examine Britain's Dysfunctional Political Economy -- References -- Chapter 3: The Banking Crisis: Audience Studies -- Introduction -- A Brief Note on Media Influence -- Audience Studies -- Sample and Method -- Who and What Caused the Banking Crisis? -- Perceptions of the Bank Bailouts and Part-Nationalisations.

Intro -- Contents -- List of Figures -- List of Graphs -- List of Charts -- List of Tables -- Introduction -- Brazil at Crossroads: A Critical Assessment of Developmentalist Policies -- 1 Introduction -- 2 Concepts of Developmentalism -- 3 Empirical Assessment of Outcomes Based on Stylized Facts -- External Context -- Stylized Facts of Outcomes -- Growth Performance -- Income Distribution: Functional and Personal -- Productive Restructuration and External Vulnerability -- 4 Public Policies Over 2003-2016 -- Macroeconomic Policies -- Industrial Policies -- Social Policies -- 5 An Assessment of Public Policies in the PT Governments -- 6 Summary and Conclusions -- Appendix -- References -- Monetary Institutions and Macroeconomic Performance in Brazil after the Global Financial Crisis of 2007-2008 -- 1 Introduction -- 2 The Brazilian Central Bank (BCB) Macroeconomic Model of ITR and the Brazilian Experience with ITR -- 3 The Determinants of Inflation in Brazil and the Macroeconomic Imbalances Under the ITR (1999-2016) -- A Brief Analysis on the Determinants of Inflation -- The Macroeconomic Imbalances Resulting from the Implementation of the ITR -- 4 Empirical Research on the Effects of Monetary Shocks in Brazil -- 5 Concluding Remarks -- References -- Asymmetric Exchange Rate Pass-Through: Evidence, Inflation Dynamics and Policy Implications for Brazil (1999-2016) -- 1 Introduction -- 2 Inflation and Macroeconomic Policy in Brazil: A Brief Overview -- 3 Review of Literature -- Exchange Rate Pass-Through in Brazil -- Asymmetric Exchange Rate Pass-Through: Theory -- 4 Asymmetric Exchange Rate Pass-Through: Empirical Evidence from Brazil (1999-2016) -- Data Base -- Econometric Estimation and Results -- 5 Concluding Remarks: Inflation Dynamics and Policy Implications -- Appendix -- References

The characteristic feature of the recent Global Economic Crisis is the speed and extent of the shock transmission. The development of cross-national production networks in recent years has significantly deepened the economic interdependency between countries, and a shock that occurs in one region can be swiftly and extensively transmitted to the rest of the globe. The sudden contraction of world trade and output is a negative outcome of this intertwined global economic system. Based on the method known as international input-output analyses, this book provides a detailed examination of the mec