This book concentrates on exchange rates and their macroeconomic consequences, analytical and empirical issues relating to currency crises and policy responses and monetary and financial cooperation in Asia. It is truely pan-Asia-focused with chapters on China, Japan, Korea, India and Southeast Asia.

The papers in this proceedings volume were presented at the 9th international conference "The Economies of the Balkan and Eastern European Countries in the Changing World" (EBEEC) held in Athens, Greece, in April 2017. They include the scientific results of research on current issues relevant for the wider area of Eastern Europe. Authors from 30 different countries develop new ideas, covering topics such as international economies, European integration, the economic crisis, macroeconomics, banking, stock markets, education, energy, innovation, and marketing. The contributions also examine the role of the economies of the Balkan and Eastern European countries in a pan-European context.

* Offers a holistic, interdisciplinary and internationally comparative overview of the key global crises today, which are relevant to students across many subject areas * International case studies showcase theory and empirical evidence, looking at topics like country disparities in vaccine distribution; climate disinformation; socioeconomic deprivation and covid-19; and environmental racism. * Each chapter offers chapter objectives, chapter summaries, key terms, suggested further reading, and discussion questions for solo or group study * Digital supplements include PowerPoint slides, extra case studies and an instructor guide

Globalisation and the governance of the international financial system have arrived at the crossroads, where either a coherent level playing field for the cross-border activities of banks and multinational enterprises is settled upon, or the risk of another crisis will build up again. This book will explore the underlying problems alongside inconsistent economic and financial trends as a guide for researchers, advanced students and professionals to think about the interconnectedness of the factors involved. Readers will gain insights drawn from recent developments in economic theory and empirical research-a toolkit to help them in their future careers in economics and finance-illustrated with an analysis of the 2008 crisis and its aftermath.

This book examines the link between innovation and economic crises through a systemic philosophy of economic history. Taking the end of the Roman Empire as its starting point, the author guides readers through six economic crises that have occurred up to the present day and uncovers how these may have been triggered by a number of political, economic and technological innovations. The author presents analyses on the Dutch tulip bubble of 1637, the Mississippi bubble in eighteenth-century France, the development of the first limited liability company and the world's first stock exchange before going on to discuss the latest economic crisis and its links with globalisation and social connectivity following the technological advancement of the internet. The author concludes by explaining how we can use knowledge of the links between innovation and crises to frame a vital new model for policy makers and political leaders. The result is a fascinating insight into the cause of economic crises which will be of particular interest to students and researchers of economic history, financial crises, innovation and political science.

This book challenges amoral views of finance as the leading realm in which mammon - wealth and profit - is pursued with little overt regard for morality. The author details an enhanced ethical emphasis by leading Anglo-American professionals in the aftermath of the 2007-8 global financial crisis. Instead of merely stressing expert knowledge, professionals sought to overcome the alleged impossibility of serving "two masters" - mammon and God - by embracing religious finance, socio-economic inequality, sustainability and other overtly moral issues. Continuities in liberal values and ideas, however, limited the impact of this enhanced ethical emphasis to restoring the professional authority, as well as to more fundamentally reforming of Anglo-American finance following the most severe period of instability since the Great Depression. Providing a nuanced account of post-crisis change and continuity in a crucially important industry, Campbell-Verduyn advances a dynamic, process-based understanding of authority that will appeal to international political economists and sociologists alike.

This book charts the course of monetary policy in the UK from 1967 to 1982. It shows how events such as the 1967 devaluation, the collapse of Bretton Woods, the stagflation of the 1970s, and the IMF loan of 1976 all shaped policy. It shows that the 'monetarist' experiment of the 1980s was based on a fundamental misreading of 1970s monetary policy.

The recent world economic crisis showed very clearly that financial crises and sovereign defaults are severe threats to economic and social prosperity. In addition, it became apparent that currency crises and banking crises often occur together and are closely related to sovereign debt crises and defaults.

The present book contains new research on various important issues related to financial crises and sovereign default risk by leading experts in the field. The book discusses new modelling approaches to financial crises, defaults and their interdependencies. It also sheds light on the consequences of different sorts of crises for the trust in the institutions which are concerned with managing them. Moreover, it provides discussions of several institutional features of the EMU and the world financial system and in particular the risks inherent in these institutions. The book also includes interesting suggestions for solving crises and improving financial stability.

Once held up as a 'poster child' for untrammeled capitalist globalisation, the Irish Republic has more recently come to represent a cautionary tale for those tempted to tread the same neoliberal path. The crash in the world economy had especially grave repercussions for Ireland, and a series of austerity measures has seen the country endure what some consider the most substantial 'adjustment' ever experienced in a developed society during peacetime. In this collection of essays, a range of academics, economists and political commentators delineate the reactionary course that Ireland has followed since the ignominious demise of the Celtic Tiger. They argue that the forces of neoliberalism have employed the economic crisis they caused to advance policies that are in their own narrow interests, and that the host of regressive measures imposed since the onset of global recession has fundamentally restructured Irish society. The book provides a critical account of a society that has more often than most mapped out the pernicious cycle of boom and bust that remains an essential hallmark of contemporary capitalism. -- .

How does one distinguish between European Union investments that improve welfare and those that create economic malaise? Funding the Greek Crisis: The European Union, Cohesion Policies, and the Great Recession explores the sources of the Greek Crisis that lie primarily in EU policies that appeared to have worked better for other countries but not for Greece. Without overly simplifying the Greek condition, it provides insights into policies the countries of the euro area may need to implement in order to ensure collective cohesion and individual success. Arguing that EU preferences for autonomous investments discouraged organic development with lasting implications, Funding the Greek Crisis sheds new light on the nature of regional competitiveness and public economics.

Financial centres are constantly evolving to accommodate an increasingly integrated global economy and an equally challenging environment post financial crisis. They are home to a range of financial services and serve as intermediaries between mostly non-resident clients and international and local financial institutions, large or small. Financial centres have grown over recent decades as a direct result of the increasing importance of financial markets across the globe. Using analysis from a representative sample of financial centres in Europe and elsewhere, face-to-face surveys pre and post crisis and systematic comparisons, "Financial Centres in Europe" provides a comprehensive assessment of the extent to which increased international cooperation in regulation and taxation could allow financial centres to better respond to risks and opportunities facing them in the future. At the same time, it identifies challenges of a geopolitical and macroeconomic nature facing financial centres in the coming years.

This book explores the background of the eurozone crisis, outlining a number of potential solutions. It attempts to discover if the problems could have been anticipated, and examines how well have the fiscal EMU rules been adhered to and how appropriate they are.

* Offers a holistic, interdisciplinary and internationally comparative overview of the key global crises today, which are relevant to students across many subject areas * International case studies showcase theory and empirical evidence, looking at topics like country disparities in vaccine distribution; climate disinformation; socioeconomic deprivation and covid-19; and environmental racism. * Each chapter offers chapter objectives, chapter summaries, key terms, suggested further reading, and discussion questions for solo or group study * Digital supplements include PowerPoint slides, extra case studies and an instructor guide

The unprecedented housing and homelessness crisis in Ireland is having profound impacts on Generation Rent, the wellbeing of children, worsening wider inequality and threatening the economy. Hearne contextualises the Irish housing crisis within the broader global housing situation by examining the origins of the crisis in terms of austerity, marketisation and the new era of financialisation, where global investors are making housing unaffordable and turning it into an asset for the wealthy. He brings to the fore the perspectives of those most affected, new housing activists and protesters whilst providing innovative global solutions for a new vision for affordable, sustainable homes for all.

Between 1760 and 1860, the English countryside was subject to constant attempts at agricultural improvement. Most often these meant depriving cottagers and rural workers of access to land they could cultivate, despite evidence that they were the most productive farmers in a country constantly short of food. Drawing from a wide range of contemporary sources, Apostles of Inequality argues that such attempts, driven by a flawed faith in the wonders of capital, did little to increase agricultural productivity and instead led to a century of increasing impoverishment in rural England. Jim Handy rejects the assertions about the benefits that accompanied the transition to "improved" agriculture and details the abundant evidence for the efficiency of smallholder, peasant agriculture. He traces the development of both economic theory and government policy through the work of agricultural improver Arthur Young (1741-1820), government advisor Nassau William Senior (1790-1864), and the editors and writers of the Economist, as well as Adam Smith and Thomas Robert Malthus. Apostles of Inequality demonstrates how a fascination with capital - promoted by political economy and farmers' desires to have a labour force completely dependent on wage labour - fostered widespread destitution in rural England for over a century.

This book examines the continuities and substantial transformations in Greek foreign policy before the beginning and during the unfolding of the economic crisis. Although up until now, significant attention has been cast on the rise of the neo-Nazi movement, the abuses and dysfunctions of the Greek economy, and the immense social ramifications of unemployment, less is understood about the impact on Greek diplomacy and foreign policy. This collective work not only attempts to delineate future trends in Greek foreign policy, but also seeks to explore the current events that resemble more a Greek tragedy than the systemic challenges that every nation has to face. This edited volume, quite original in its field of analysis, will be of interest to International Relations academics, foreign policy professionals, Politics and Economic students and the general public who follow developments pertaining to Greece and the European Union, as well theoretical debates surrounding International Relations.

The first major global economic contraction of the 21st century, or the 'Great Recession', as it is more commonly known, began in December of 2007, and would prove to be one of the most catastrophic economic events in postmodern history. The bursting of the American housing bubble and the subprime mortgage crisis that followed are widely attributed as being the primary causes for this economic downturn.The content of this book presents an in-depth analysis of several of the leading causes of the subprime crisis, as well as the subsequent measures that were used to contain a widespread economic recession. It is the aim of this book to provide adequate information and tools for readers to gain insight on how we can prevent the same mistakes from happening again. This analysis also explores an interesting question when considering public policy; was the economic disaster, that ensued, caused by overzealous consumers who borrowed more than they could afford, or was it caused by institutional entities that gambled away the American economy?

The recent global recession, preceded by easy access to credit, led to a household debt epidemic. This book examines the causes, consequences and potential public policies related to debt from a social policy perspective, in which over-indebtedness is understood as a social risk. Heikki Hiilamo presents a unique conceptual and theoretical approach to the topic ?- one of the most pressing social issues of the modern Western world. The trajectories of increasing household debt are studied in the contexts of the US and the UK, Germany, the Netherlands, Finland and Norway. Household Debt and Economic Crises examines remedies to prevent and alleviate the over-indebtedness epidemic, creating a conceptual framework with which to analyse the causes and consequences of debt. Hiilamo argues that social policies are needed to tackle the current borrowing crisis that endangers and prevents the full participation in society of individuals with excessive debts. Academics and students of social policy, economics and social-epidemiology will find this an indispensable and thought-provoking read. With analysis of countries across Europe and the US, policymakers, public officials and NGOs working with household debt problems will find this a timely addition to the literature for highlighting future paths in research and policy.

This book is a unique exploration into the gendered politics of the economic crisis in Europe. It focuses, firstly, on the changes in the political and economic decision-making institutions and processes of the EU and their consequences for gender equality policy. Secondly, the book analyses the gendered impacts of austerity politics on member states' gender equality policies, institutions, regimes, and debates. Finally, it addresses feminist and intersectional struggles and resistances against neoliberal, conservative and racist politics across Europe. The authors consider the gendered politics of the economic crisis from a variety of feminist approaches, shedding new light on the concept of the crisis and on questions of politics, institutions and intersectionality. The case studies included refer to different parts of Europe, from North to South and from East to West, capturing the multifaceted gendered impacts of the crisis. The volume will be of interest to students and scholars of politics, international relations, gender studies, economics, law, sociology, social policy, and European studies.

This book analyses protests against the Great Recession in the European periphery. While social movements have long been considered as children of affluent times - or at least of times of opening opportunities - these protests defy such expectations, developing instead in moments of diminishing opportunities in both the economic and the political realms. Can social movement studies still be useful to understanding these movements of troubled times? The authors offer a positive answer to this question, although specify the need to bridge contentious politics with other fields, including political economy. They highlight differences in the social movements' strength and breadth and attempt to understand them in terms of three sets of dimensions: a) the specific characteristics of the socio-economic crisis and its consequences in terms of mobilization potential; b) the political reactions to it, in what we can define as political opportunities and threats; and c) the social movement cultures and structures that characterize each country. The book discusses these topics through a contextualized analysis of anti-austerity protest in the European periphery.

"This is a radical, thought-provoking book, which brings together debates that are often kept separate about basic income and 'sovereign money'. You might not agree with all of it, but it makes big arguments and does so with constructive intent: that of proposing alternative ways of organising our economy and welfare states." Nick Pearce, Director of The Institute for Policy Research, University of Bath, UK "Though I have criticized modern money theory (MMT) for being too facile regarding the consequences of money financed deficits, I welcome this book's advocacy of a universal basic income. MMT proponents have focused on the problem of employment. Geoff Crocker wants to shift the focus to basic income, and I believe he is right. We are in an era of transition. Employment was the fundamental problem of the 20th century. Income distribution will be the fundamental problem of the 21st century. We must begin transitioning the policy discourse now. In coming decades we will need both employment and basic income policy. It is good to have MMT advocates on board." Thomas Palley, independent economist, Washington, DC, USA "Geoff Crocker's book is a very stimulating and provoking contribution to the discussion of how to define, identify, and finance basic income. It addresses very clearly the societal issue of a monetary basic income funding which will excite the discussion beside well --known tax proposals, and establishes the discussion on integrating basic income directly into crisis prevention and crisis solution." Bernhard Neumarker, Goetz Werner Professor of Economic Policy & Constitutional Economic Theory and Head of Freiburg Institute for Basic Income Studies (FRIBIS) at the University of Freiburg The current economic system is dysfunctional, characterised by crises, austerity, excessive household and government debt, low pay, poverty, inequality, and ecological damage. This needs a radical re-think and re-engineering of the economic system. The standard explanation of the 2007 economic crisis is that banks behaved badly and governments failed to regulate. But policies of tighter bank regulation, quantitative easing, and austerity failed, and proved counter-productive. This book challenges this orthodox view. From a careful analysis of long-term economic data, it shows that earned income has inexorably fallen behind economic output, leading to huge increases in consumer debt, causing the crisis. Governments have sought to curtail deficit spending by socially harmful austerity policy. The answer is a universal basic income, funded by debt-free sovereign money, which also funds government social expenditure, always limited by economic output to avoid inflation. This book will appeal to policy makers, academic economists, think tank networks, and everyone who is concerned with the ongoing dysfunctionality of the current economic system.

This book questions whether and to what extent a conjunctural phenomenon such as an economic crisis can bring about lasting political consequences. It focuses on the parties and party systems of four South European countries (Portugal, Spain, Italy, and Greece) between 2008-15. The authors also consider how elections, protests, and interests are affected by the crisis in these four democracies, before assessing how to define the impact of the economic crisis on political participation and competition. In this vein the book analyzes relevant aspects of party systems, the notion of neo-populism as a key to understanding new actors of South European policy, and interest intermediation as a factor of weakness in managing the crisis. Finally, the authors summarize the empirical results emerging from the research: the partial reshaping of cleavages as well as the relevance of the establishment vs. anti-establishment cleavage for the emergence and success of neo-populist parties. The book will be of use to students and scholars interested in South European politics, comparative politics, and democracies.

Originally published in 2010, this book covers the development of the mortgage market, the residential housing boom and bust that led to the subprime crisis, and the effect of this crisis on financial institutions as well as the stock market panic of 2008. It details the massive government interventions that sought to prevent another Great Depression.

The 2008 global economic crisis resulted in many new changes in global economic governance, multilateral trading system, the Group20 major economies, regional economic cooperation and other international governance platforms. Countries around the world have begun a complex battle to make sure rules are changed in their favor. Furthermore, rule reconstruction has a definite and profound impact on the international economic situation and national trade interests. This book by Former Chinese Minister of Commerce Chen Deming, aims to highlight the focal issues of the competition and negotiations with a panoramic depiction of the complicated state of international economic and trade rule reconstruction.The chapters in the book discuss rules of global governance, reflect on the crisis rarely seen in the past century, and raise the proposition of rule reconstruction. They also focus on multilateral trading system, regional economic cooperation and related international financial rules. Detailed deliberations on various kinds of trade rules including rules of services trade, government procurement, intellectual property, investment, international development cooperation, etc are also dealt with. Lastly, the book provides an outlook on the path, direction and key issues of international economic rule reconstruction, and offers recommendations on China's engagement.

The 2008 global economic crisis resulted in many new changes in global economic governance, multilateral trading system, the Group20 major economies, regional economic cooperation and other international governance platforms. Countries around the world have begun a complex battle to make sure rules are changed in their favor. Furthermore, rule reconstruction has a definite and profound impact on the international economic situation and national trade interests. This book by Former Chinese Minister of Commerce Chen Deming, aims to highlight the focal issues of the competition and negotiations with a panoramic depiction of the complicated state of international economic and trade rule reconstruction.The chapters in the book discuss rules of global governance, reflect on the crisis rarely seen in the past century, and raise the proposition of rule reconstruction. They also focus on multilateral trading system, regional economic cooperation and related international financial rules. Detailed deliberations on various kinds of trade rules including rules of services trade, government procurement, intellectual property, investment, international development cooperation, etc are also dealt with. Lastly, the book provides an outlook on the path, direction and key issues of international economic rule reconstruction, and offers recommendations on China's engagement.