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Global financial crisis : implications for ASEAN -- Contents -- Preface -- Global Financial Crisis and Implications for Asean -- Commentaries: In Response to lead article, "Global Financial Crisis and Implications for ASEAN", by Masahiro Kawai -- Commentary: Charles Adams -- Commentary: V. Anantha-Nageswaran -- Commentary: Michael Lim Mah Hui -- Commentary: Pradumna B. Rana -- Commentary: Lim Chin -- What ASEAN Must do to Cope with the Crisis: Act Together to Maintain Confidence in the Underlying Strength of the Region's Economies -- About the Contributors.

"Preface" -- "Contents" -- "Notes on Authors" -- "List of Figures " -- "List of Tables " -- "Monetary Policy Since the Global Financial Crisis" -- "1 Introduction " -- "2 Inflation Targeting" -- "2.1 Theoretical Aspects of IT" -- "2.2 Theoretical and Empirical Problems of IT" -- "3 Monetary Policy Reactions Following the GFC and GR" -- "3.1 Reaction of the Main Central Banks" -- " US Fed Reactions" -- " UK BoE Reactions" -- " EMU ECB Reactions" -- "3.2 Unorthodox Monetary Policies" -- " Quantitative Easing" -- " Zero and Negative Interest Rates" -- "4 Financial Stability" -- "5 Summary and Conclusions" -- "References" -- "Lessons on Fiscal Policy After the Global Financial Crisis" -- "1 Introduction " -- "2 Fiscal Policy as Seen Before the Financial Crisis" -- "3 First Responses of Fiscal Policy After the Financial Crisis" -- "4 Second Rounds of Responses of Fiscal Policy" -- "5 The 'Debt Scare'" -- "6 The 'Multiplier'" -- "7 Composition of Deficit Reduction" -- "8 Structural Budgets" -- "8.1 Introduction to Structural Budgets" -- "8.2 'Potential Output'" -- "8.3 Estimating 'Potential Output'" -- "8.4 'Potential Output' and Unemployment" -- "8.5 Why Do Structural Budget Deficits Persist?" -- "9 Concluding Comments" -- "References" -- "Inequality and the Need for Relevant Policies" -- "1 Introduction " -- "2 Inequality Since 2008" -- "3 Why Is There So Much Inequality?" -- "3.1 Dimensions of Inequality" -- "3.2 Structural Factors" -- "3.3 Competitive Advantage Versus Comparative Advantage" -- "3.4 A Race to the Bottom" -- "3.5 Further Distortions" -- "3.6 Mechanisms of Rent Extraction" -- "4 Rentier Capitalism Par Excellence" -- "4.1 Rent Deflation" -- "4.2 Dominance of Financial Capital" -- "4.3 Illicit Financial Outflows

Examines an important historic event -- the modern global financial crisis. Easy-to-read, compelling text explores the impact of the failing housing market and the credit crisis in the United States, the US government bailouts of banks, automakers, and other businesses, issues around financial regulation and the US Federal Reserve, the spread of financial problems to Europe, Japan, and China, and the effects of this event on society

Intro -- U.S. FINANCIAL CRISIS: GLOBAL DIMENSION AND U.S. POLICY IMPLICATIONS -- U.S. FINANCIAL CRISIS: GLOBAL DIMENSION AND U.S. POLICY IMPLICATIONS -- CONTENTS -- PREFACE -- Chapter 1 THE GLOBAL FINANCIAL CRISIS: THE ROLE OF THE INTERNATIONAL MONETARY FUND (IMF) -- SUMMARY -- WHITHER THE IMF? -- Immediate Crisis Management -- Reforming Global Macroeconomic Surveillance -- End Notes -- Chapter 2 CHINA AND THE GLOBAL FINANCIAL CRISIS: IMPLICATIONS FOR THE UNITED STATES -- SUMMARY -- CHINA'S STAKE IN THE CURRENT CRISIS -- CHINA'S EXPOSURE TO THE GLOBAL FINANCIAL CRISIS -- CHINA'S RESPONSE TO THE CRISIS -- China's Stimulus Program -- Has China's Economy Bottomed Out? -- CHINA'S POTENTIAL ROLE AND IMPLICATIONS FOR THE UNITED STATES -- End Notes -- Chapter 3 THE GLOBAL FINANCIAL CRISIS: ANALYSIS AND POLICY IMPLICATIONS -- SUMMARY -- RECENT DEVELOPMENTS1 -- THE GLOBAL FINANCIAL CRISIS AND U.S. INTERESTS2 -- Policy and Legislation7 -- SENATOR DODD'S DRAFT FINANCIAL REGULATION BILL -- Four Phases of the Global Financial Crisis -- Contain the contagion and strengthen financial sectors -- Coping with macroeconomic effects -- Regulatory and financial market reform -- Dealing with political, social, and security effects59 -- Political leadership and regimes -- Economic philosophy, protectionism, and state capitalism -- U.S. leadership position -- International financial organizations -- Effects on poverty and flows of aid resources -- NEW CHALLENGES AND POLICY IN MANAGING FINANCIAL RISK74 -- The Challenges -- ORIGINS, CONTAGION, AND RISK85 -- Risk -- The Downward Slide -- EFFECTS ON EMERGING MARKETS100 -- WHAT ARE EMERGING MARKET COUNTRIES? -- Latin America114 -- Mexico -- Brazil -- Argentina -- Russia and the Financial Crisis146 -- EFFECTS ON EUROPE AND THE EUROPEAN RESPONSE155 -- The "European Framework for Action"

Intro -- The Crisis and the Kingdom -- Foreword -- Preface -- Acknowledgments -- Introduction -- Summary -- Chapter 1: Events of the Financial Crisis -- Chapter 2: Comparing the View of Humankind from Economics and Theology -- Chapter 3: The Financial Sector-Incentives to Underestimate Risks -- Chapter 4: The Household Sector-Private Debt -- Chapter 5: The Government Sector-Public Debt -- Chapter 6: Conclusions and Recommendations -- Appendix 1 -- Appendix 2 -- Bibliography -- Introducing the Author.

Did the financial crisis of 2008 and the subsequent recession rearrange the basic structures of the global economy? To answer that fundamental question, the authors of Exploring the Global Financial Crisis tackle a number of related questions: What has happened, for example, to global flows of people, goods, and capital? Will the euro and the dollar persist as global currencies? Can governments that bailed out failing banks by vastly expanding public debt manage to regain solvency, and at what political cost? Ranging across regions, and from the factors that gave birth to the crisis to current politico-economic rivalries, the authors present both mainstream and critical views on the central issues involved

An insider's view of the U.S. government's response to the 2007-2009 global financial crisis, as recounted by the people who made the key decisions In 2008, the world's financial system stood on the brink of disaster. The United States faced an unprecedented crisis when the investment bank Lehman Brothers collapsed, setting off a global panic. Faced with the prospect of a new Great Depression, the Treasury Department, the Federal Reserve, the Federal Deposit Insurance Corporation, and other agencies took extraordinary measures to contain the damage and steady the financial system and the economy. Edited by three of the policymakers who led the government's response to the crisis, with chapters written by the teams tasked with finding policy solutions, this book provides a comprehensive accounting of the internal debates and controversies surrounding the measures that were taken to stabilize the financial system and the economy. Offering previously untold insight into the key choices (including rejected options) and a frank evaluation of successes and failures, this volume is both an important historical document and an indispensable guide for confronting future financial calamities

Intro -- Preface -- Contents -- List of Figures -- List of Tables -- Chapter 1: Introduction to the Research -- Background -- Origins of the European Union -- Study Purpose and Objectives -- Research Overview -- Methodology -- Overview of State Structures -- Overview of EU Institutions and Key Actors -- Structure of Research Report -- Summary -- Bibliography -- Chapter 2: Research Methods -- Introduction -- Research Design, Research Philosophy and Research Strategy -- Research Design -- Research Philosophy -- Research Strategy -- Research Methodology -- Data Gathering -- Data Analysis -- Reliability and Validity -- Ethics -- Limitations -- Summary -- Bibliography -- Chapter 3: State Intervention and Principle of Proportionality -- Theories of European Integration -- Neofunctionalism -- Intergovernmentalist Theory -- State Intervention by EU -- Postfunctionalism -- Theories Underlying Rise of Neoliberalism -- Public Choice Theory -- Rational Choice Theory -- The Concept and Definition of Proportionality, Theoretical Roots and Practical Applications -- Justice Theory -- The Nature of State Intervention in the Post-crisis Developed World -- Financial Reforms -- Financial Stabilisation -- Enhancing Economic Governance -- Generating Economic Growth -- The Economic Recovery Plan (ERR) -- Outline of the Impact of State Intervention After 2008 -- Economic Impact -- Social Impact -- Bibliography -- Chapter 4: Literature Review: Global Economics Before and After the 2007 Economic Crisis -- Events Leading to the 2007 Global Recession -- Origins of the Factors and Initial Symptoms -- Historical Influences -- Securitisation -- Mortgage-Backed Securities -- Advantages of SPVs -- Financial Markets Immediately Prior to the 2007 Crisis -- Changing Regulation -- Liquidity -- Consequences of the Crisis -- Outline of the Financial Effects -- Economic Effects.

Malaysia was hit hard by the global financial crisis of 2008-09. Anticipating the downturn that would follow the episode of extreme financial turbulence, Bank Negara Malaysia (BNM) let the exchange rate depreciate as capital flowed out, and preemptively cut the policy rate by 150 basis points. Against this backdrop, this paper tries to quantify how much deeper the recession would have been without the BNM's monetary policy response. Taking the most intense year of the crisis as our baseline (2008:Q4-2009:Q3), counterfactual simulations indicate that rather the actual outcome of a -2.9 percent

What caused the Global Financial Crisis of 2008? What lessons should be learnt from it? Could it happen again? Taking his own career in the City of London as a starting point, the author tackles these important questions. His position as a fund manager in a variety of financial institutions during the 1980s and 1990s, and then as a hedge fund manager from 1999 to 2011, gives him the ideal vantage point. He is an insider: he knows the trade, the pitfalls, the hubris and the mistakes.This highly readable book highlights the fundamental weaknesses of the financial system: the problems surrounding liquidity and risk, the vulnerability of the market to errors and overshoots, and the devastating effects of amplifying those errors with unsustainable amounts of debt. The book also examines issues such as women in hedge funds, pay in the finance sector, and the future of the Eurozone. The distinction between the banking system and the hedge fund industry is also brought into sharp focus. With an entertaining and lively style, the book leads the reader effortlessly through complex arguments and analysis, leading to a comprehensive overview of the financial crisis as well as a clear-eyed grasp of the finer details. Whatever your level of financial expertise, this is essential reading

The book analyzes the nature of Chinese economy which enables it to go through the financial tsunami pretty unscathed. It discusses the stimulus package designed by the Chinese government to keep the economy on course, as well as its results - both positive and negative aspects in the middle and long term. The 2008-09 financial crisis makes it very clear that we need a two-pronged approach to deal with the situation, namely governments need a) to take quick and decisive actions to stem any further deterioration in financial systems; b) to revamp their economies by refitting existing engines in the real economy. China, as the third largest economy in the world, and with its robust domestic consumption and a healthy financial system, is one of the most important drivers to pull the world out of recession. According to the Chinese leadership, China's main contribution is to keep its own economy running smoothly. In response to the crisis, the Beijing government has poured money into the following sectors: public housing, earthquake reconstruction, physical infrastructure, social security, education and healthcare. So far, the results have helped China to maintain the targeted high growth. Given the open nature of its economy, its high growth has also benefited other countries, thereby contributing to the global economy. The current crisis strengthens a trend that has emerged since the Asian financial crisis of 1997. And that is the enhanced economic integration of China with its East Asian neighbours and Southeast Asia. This augurs well for East Asian regionalism which may include the birth of Asian Monetary Fund. The global environment in the wake of the crisis poses new challenges to China, for example, in the form of shrinking size of its traditional export market in the USA and Europe. China needs to modify its strategy from previous export-oriented and investment-driven strategy into one with more emphasis on consumption. There is a lot of scope for China to embark on productive consumption such as cleaning up the environment, physical infrastructure, social security, education and healthcare. If done well, they will lay a firm basis for long-term economic development. It represents an occasion for China to embark on a nation-wide effort to upgrade its economy in the key sectors. At the same time, attention needs to be paid to improving economic-legal institutional framework to support China's role as a major global player