Financial Developments in National And International Markets

by Arestis, Philip; Ferreiro, Jesus; Serrano, Felipe

• ISBN13: 9781403996299
• ISBN10: 1403996296
• eBook ISBN(s): 9780230522374
• Format: Hardcover
• Copyright: 2006-04-30
• Publisher: Palgrave Macmillan
• More Book Details
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Summary

This book offers a comprehensive analysis of the problems that the current working of capital markets are generating on both developed and developing economies. It pays special attention to the reasons explaining the unstable and volatile working of international financial markets and to the consequences of that behaviour on both the economic performance of the involved countries and on the economic policies implemented.

Table of Contents

Notes on the Contributors	vii
Introduction	xi
1 The Disutility of International Debt: Analytical Results and Methodological Implications	1	(24)
Greg Hannsgen
2 On the Changing Nature of Currency Crises	25	(15)
Korkut A. Erturk
3 Financial System Regulation Stability versus Instability: Some Strategic Consideration	40	(16)
David Ceballos and David Cantarero
4 The Bretton Woods Institutions Sixty Years Later: A 'Glocal' Reform Proposal	56	(21)
Sergio Rossi
5 The Monetary Policy of the ECB and the Fed: Credibility versus Confidence, a Comparative Approach	77	(26)
Edwin Le Heron and Emmanuel Carré
6 The Case for Fiscal Policy	103	(15)
Philip Arestis and Malcolm Sawyer
7 Is an Increase of the Fiscal Budget at EMU Level Desirable?	118	(15)
Davide Furceri
8 How Sensitive Is the Dollar to Economic Policy?	133	(16)
Elias Karakitsos
9 The Pattern of Inward FDI Geographical Distribution: Can Developing Countries Base Their Development on Those Flows?	149	(16)
Jesus Ferreiro, Carmen Gomez and Carlos Rodriguez
10 Financial Deregulation and Capital Flows in Latin American Countries	165	(11)
Eugenia Correa and Gregorio Vidal
11 The Impact of Multinational Banking on Domestic Banking	176	(14)
Claude Gnos and Louis-Philippe Rochon
12 Spanish Foreign Direct Investment in Latin America, 1989-2004: A Constructivist Framework for Analysis	190	(35)
Pablo Toral
13 Role of the International Monetary Fund in the Economic Policy-making and Growth of the Baltic Countries	225	(14)
Ulvi Vaarja
Index	239