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This version: 20 March 2001
This version: 20 March 2001

... States and collapsed abruptly in others. The policies of developing countries switched from encouraging stateled autonomous development to attracting foreign investment in export-oriented industries. In the developed countries, many Governments adopted policies of deregulation and privatization, and ...
Latin American Development and the post Washington Consensus
Latin American Development and the post Washington Consensus

... • Justifications for ignoring equity – It was argued that one could separate equity and efficiency considerations, and economics should just focus on efficiency – Trickle-down economics meant that the poor gain if growth is pursued and attained – There were really no “trade-offs”- the single best po ...
The Global Financial Crisis and Its Implications for Heterodox
The Global Financial Crisis and Its Implications for Heterodox

... markets clear) ▫ If there was unemployment, it was because of wage rigidities  Implying countries with more flexible labor markets would have lower unemployment ...
International political economy exam, january 2016
International political economy exam, january 2016

... members (Wigan, 2015b). Moreover, the World Bank, initially established to provide support for post-conflict reconstruction through promotion of free trade and private investment, also played a key role. Within this framework, the ideological coalition of Reagan and Thatcher in the 1980s, the so-cal ...
Corporate 2 Template
Corporate 2 Template

... From the IMF website  ‘The International Monetary Fund (IMF) is an organization of 186 countries, working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world’ ...
Week 2 Monday - Université d`Ottawa
Week 2 Monday - Université d`Ottawa

... Emphasis is put on exports from developing countries to developed countries. One of the aims of fair trade is to use some of the resources made available by the capitalist system: for example, it wants to permit small producers to become stockholders in their own organizations so that these producer ...
Speech by Ambassador Wang Xuexian
Speech by Ambassador Wang Xuexian

... neo-liberalism, and the "Washington Consensus", which takes privatization, marketization and deregulation as its core, was worshipped and blindly followed by many countries. The move of "reforming the world" by the political neo-conservatives was nearly crazy. The facts have proven that these theori ...
Argentina`s Economic Recovery
Argentina`s Economic Recovery

... growth. Imports dropped by more than 30 percent and therefore accounted for 167.8 percent of GDP growth during this period. Thus net exports (exports minus imports) accounted for 239.1 percent of GDP growth during the first six months of the recovery. This was countered mainly by declining consumpti ...
Regulation or Deregulation of an Economic Entity: A Normative
Regulation or Deregulation of an Economic Entity: A Normative

... On the basis of a practical situation let us consider an example, if your internet service provider is delaying without any definite reason then the government may be the sole competent authority to provide a way out the situation. But government has limitations, even sometimes not competent enough ...
Regulation or Deregulation of an Economic Entity: A Normative
Regulation or Deregulation of an Economic Entity: A Normative

... economies strongly argued for fiscal policy because it is the only effective way for the market correction (Stiglitz, 2008a). There are typically two ways to provide fiscal stimulus: Direct spending: The government can increase its budget above normal level and spend the excess on projects -- roads ...
An Appraisal of the Effects of Globalization on the
An Appraisal of the Effects of Globalization on the

... to seek education and employment or to escape adverse political environments. Furthermore, is the transfer of ideas which are considered to be the broadest globalization phenomenon. They involve the generation and cross-border transmission of intellectual constructs in areas such as technology, mana ...
Business as usual is changing: our predictions for 2013  economics.pwc.com
Business as usual is changing: our predictions for 2013 economics.pwc.com

... economy in the world is still expected to contribute only around 10% of global growth as opposed to around 30% during the 1995 to 2000 period after the last major international recession of the early 1990s. Meanwhile, the Eurozone will not contribute at all to global growth in 2013. ...
Lessons from the East European Financial Crisis, 2008-10
Lessons from the East European Financial Crisis, 2008-10

... after the height of the crisis. The new eastern EU members were left without access to liquidity other than their own central banks and their trading partners were prepared to offer. The ECB did nothing to stabilize the economies of these euro candidate countries. It could have offered swap credits ...
Paper - Marketization in Europe
Paper - Marketization in Europe

... resources and unskilled labor, to nearly 85 percent in the new member states of the European Union and Croatia, where exports are intensive in capital and skilled labor.(World Bank, ...
Restraining Government Growth: Demographic and Procedural
Restraining Government Growth: Demographic and Procedural

... subsidies merely to reduce their budget deficits have failed both politically and economically. However, when Latin leaders unleash the growth potential of all levels of the economy through liberalized fiscal policies built on a solid currency, they get public support and achieve lasting change. Lik ...
speech (Word)
speech (Word)

... The present financial crisis generated globally by the US is not only because of the mortgage meltdown. The US national debt has risen so fast from the level of USD 5.7 trillion in 2001 to USD 9.4 trillion at present. The US trade deficit has rapidly grown to the annual level of USD 850 billion beca ...
Globalization Chapter 01
Globalization Chapter 01

... A multinational enterprise (MNE) is any business that has productive activities in two or more countries Since the 1960s, there has been a rise in non-U.S. multinationals, and a growth of mini-multinationals ...
Linear Regression 1 - University of California, Irvine
Linear Regression 1 - University of California, Irvine

... • Companies couldn’t pay off loans to foreign banks – Bankruptcies, unemployment… ...
MarketSavvy-Full Program
MarketSavvy-Full Program

... (1) Sessions in Financial Markets will allow participants to gain the core fundamentals to be able to follow the international trading markets (2) In People in the Markets sessions focus more on the individuals who are currently in positions of power and how they may influence the business environme ...
Mexico - Carnegie Endowment for International Peace
Mexico - Carnegie Endowment for International Peace

... of loans and grants. Too often, the labor market implications of policies are not well understood, or are not taken adequately into account, as national and international policies are set. It is arguable that this lack of coordination is an important place to start in achieving better employment out ...
Chapter 13. Uses of Balance of Payments
Chapter 13. Uses of Balance of Payments

... 13.2 The manual will discuss analytical and policy areas where BOP and IIP statistics have the most relevance and use. It will explain data uses for which BOP and IIP statistics are specifically designed and those areas where users might make use of these data (such as when no better alternative dat ...
RETHINKING MACROECONOMIC POLICIES FOR
RETHINKING MACROECONOMIC POLICIES FOR

... with in Latin America during the early 1980s, ran into debt crises or other forms of macroeconomic disequilibrium. Again, the reason put forward was that if the government succeeded in achieving price stability in the short run, all else including growth would follow. The presumption that full emplo ...
The European Economic Recovery Plan
The European Economic Recovery Plan

... Macroeconomic factors - The great moderation : low volatility of macroeconomic aggregates, low inflation, housing market bubbles, widening and unsustainable international imbalances Microeconomic factors - Financial innovation: new financial instruments of unprecedented complexity, development of th ...
Teacher`s Name__Brandon Greenwood____________Date:___10
Teacher`s Name__Brandon Greenwood____________Date:___10

... to create a list of businesses or companies that they see everyday. These could be anything from restaurants, to grocery stores, clothing, entertainment, etc. Basically about ten to fifteen companies they can think of off the top of their heads. After they complete this students will be asked to ide ...
Global Economic Issues
Global Economic Issues

... competitiveness as a business graduate & develop skills to assess your position in the global talent pool ...
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Globalization and Its Discontents

Globalization and Its Discontents is a book published in 2002 by the 2001 Nobel laureate Joseph E. Stiglitz.The book draws on Stiglitz's personal experience as chairman of the Council of Economic Advisers under Bill Clinton from 1993 and chief economist at the World Bank from 1997. During this period Stiglitz became disillusioned with the IMF and other international institutions, which he came to believe acted against the interests of impoverished developing countries. Stiglitz argues that the policies pursued by the IMF are based on neoliberal assumptions that are fundamentally unsound:Behind the free market ideology there is a model, often attributed to Adam Smith, which argues that market forces—the profit motive—drive the economy to efficient outcomes as if by an invisible hand. One of the great achievements of modern economics is to show the sense in which, and the conditions under which, Smith's conclusion is correct. It turns out that these conditions are highly restrictive. Indeed, more recent advances in economic theory—ironically occurring precisely during the period of the most relentless pursuit of the Washington Consensus policies—have shown that whenever information is imperfect and markets incomplete, which is to say always, and especially in developing countries, then the invisible hand works most imperfectly. Significantly, there are desirable government interventions which, in principle, can improve upon the efficiency of the market. These restrictions on the conditions under which markets result in efficiency are important—many of the key activities of government can be understood as responses to the resulting market failures.Stiglitz argues that IMF policies contributed to bringing about the East Asian financial crisis, as well as the Argentine economic crisis. Also noted was the failure of Russia's conversion to a market economy and low levels of development in Sub-Saharan Africa. Specific policies criticised by Stiglitz include fiscal austerity, high interest rates, trade liberalization, and the liberalization of capital markets and insistence on the privatization of state assets.
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