Economic Growth and Inequality: The New Post-Washington Consensus, September ...Africa Cheetah Run
Economic growth is an increase in the amount of goods and services produced per head of the population over a period of time. The impact of government investment on growth and inequality are shown to contrast sharply in the two approaches, thus illustrating the complexity of the growth-inequality relationship.
Cleo Bonny reading ambassador killer presentation skills international financ...Cleo Bonny
Cleo Bonny reading ambassador killer presentation skills international financial system
world first agenda presentation for international financial system
Economic Growth and Inequality: The New Post-Washington Consensus, September ...Africa Cheetah Run
Economic growth is an increase in the amount of goods and services produced per head of the population over a period of time. The impact of government investment on growth and inequality are shown to contrast sharply in the two approaches, thus illustrating the complexity of the growth-inequality relationship.
Cleo Bonny reading ambassador killer presentation skills international financ...Cleo Bonny
Cleo Bonny reading ambassador killer presentation skills international financial system
world first agenda presentation for international financial system
International Journal of Business and Management Invention (IJBMI)inventionjournals
International Journal of Business and Management Invention (IJBMI) is an international journal intended for professionals and researchers in all fields of Business and Management. IJBMI publishes research articles and reviews within the whole field Business and Management, new teaching methods, assessment, validation and the impact of new technologies and it will continue to provide information on the latest trends and developments in this ever-expanding subject. The publications of papers are selected through double peer reviewed to ensure originality, relevance, and readability. The articles published in our journal can be accessed online
Law of the Future 2011
23 & 24 June 2011, Peace Palace, The Hague, The Netherlands
Title: Conflict, Fragility and Development in a Globalized World:
Challenges and Implications for the Law of The Future
By: Hassane Cisse
Keynote Presentation
www.lawofthefuture.org
In a speech following the September 11, 2001, terrorist attacks and in the midst of the accompanying U.S. recession, Federal Reserve Chairman Alan Greenspan made a declaration that turned the world of the investment bankers upside down. Greenspan declared that the FOMC (Federal Open Markets Committee) stood prepared to maintain a highly accommodative policy stance for as long as needed to promote satisfactory economic performance. Translated from central banker speak, what Greenspan meant is that he is willing to inflate the money supply and hence lower interest rates for as long as necessary to “revive” the economy and repair it from the shock it received on that fateful day. What this meant for investors in the U.S. Treasury bond market is that they were not going to make any money on U.S. treasury securities for a very long time. Smart investors, diverted from the bond market, scanned Wall Street for a similar low-risk, high-return investment that could take the place of U.S. Treasury securities, and they fell in love with residential mortgages. On September 18, 2008, after months of economic anxiety and several massive bailouts of distressed firms by the government, the stock market had its largest single-day drop since September 11, 2001. Officials and commentators declared an economic emergency and moved on two fronts. The Department of the Treasury and Federal Reserve Board ("Fed") dusted off a 1932 statute and invoked the Fed's authority to stabilize failing firms by lending them money, although some were allowed to fail.
The Causes of the 2007-08 Financial Crisis: Investigative StudyPhil Goldney
A comprehensive study of the causes of the 2007-08 global Banking Crisis, incorporating primary research from industry professionals. The study amounts to approximately 6000 words. Please contact me for the extensive and comprehensive bibliography.
Presentation at Texas Christian University\'s AddRan Festival Of Undergraduate Scholarship and Creativity, April 2009 and winner of TCU\'s Economic Department Award to Best Presentation in Economics.
International Journal of Business and Management Invention (IJBMI)inventionjournals
International Journal of Business and Management Invention (IJBMI) is an international journal intended for professionals and researchers in all fields of Business and Management. IJBMI publishes research articles and reviews within the whole field Business and Management, new teaching methods, assessment, validation and the impact of new technologies and it will continue to provide information on the latest trends and developments in this ever-expanding subject. The publications of papers are selected through double peer reviewed to ensure originality, relevance, and readability. The articles published in our journal can be accessed online
Law of the Future 2011
23 & 24 June 2011, Peace Palace, The Hague, The Netherlands
Title: Conflict, Fragility and Development in a Globalized World:
Challenges and Implications for the Law of The Future
By: Hassane Cisse
Keynote Presentation
www.lawofthefuture.org
In a speech following the September 11, 2001, terrorist attacks and in the midst of the accompanying U.S. recession, Federal Reserve Chairman Alan Greenspan made a declaration that turned the world of the investment bankers upside down. Greenspan declared that the FOMC (Federal Open Markets Committee) stood prepared to maintain a highly accommodative policy stance for as long as needed to promote satisfactory economic performance. Translated from central banker speak, what Greenspan meant is that he is willing to inflate the money supply and hence lower interest rates for as long as necessary to “revive” the economy and repair it from the shock it received on that fateful day. What this meant for investors in the U.S. Treasury bond market is that they were not going to make any money on U.S. treasury securities for a very long time. Smart investors, diverted from the bond market, scanned Wall Street for a similar low-risk, high-return investment that could take the place of U.S. Treasury securities, and they fell in love with residential mortgages. On September 18, 2008, after months of economic anxiety and several massive bailouts of distressed firms by the government, the stock market had its largest single-day drop since September 11, 2001. Officials and commentators declared an economic emergency and moved on two fronts. The Department of the Treasury and Federal Reserve Board ("Fed") dusted off a 1932 statute and invoked the Fed's authority to stabilize failing firms by lending them money, although some were allowed to fail.
The Causes of the 2007-08 Financial Crisis: Investigative StudyPhil Goldney
A comprehensive study of the causes of the 2007-08 global Banking Crisis, incorporating primary research from industry professionals. The study amounts to approximately 6000 words. Please contact me for the extensive and comprehensive bibliography.
Presentation at Texas Christian University\'s AddRan Festival Of Undergraduate Scholarship and Creativity, April 2009 and winner of TCU\'s Economic Department Award to Best Presentation in Economics.
International Monetary System: The International Financial System - Reform of International Monetary Affairs
- The Bretton Wood System and the International Monetary Fund, Controversy over Regulation of International
Finance, Developing Countries' Concerns, Exchange Rate Policy of Developing Economies.
International Monetary System: The International Financial System - Reform of International Monetary Affairs
- The Bretton Wood System and the International Monetary Fund, Controversy over Regulation of International
Finance, Developing Countries' Concerns, Exchange Rate Policy of Developing Economies.
Rodrik_Feasible_Globalizations
FEASIBLE GLOBALIZATIONS
Dani Rodrik1
Harvard University
July 2002
Introduction
We want economic integration to help boost living standards. We want democratic
politics so that public policy decisions are made by those that are directly affected by them (or
their representatives). And we want self-determination, which comes with the nation-state. This
paper argues that we cannot have all three things simultaneously. The political trilemma of the
global economy is that the nation-state system, democratic politics, and full economic
integration are mutually incompatible. We can have at most two out of the three. It follows that
the direction in which we seem to be headed—global markets without global governance—is
unsustainable.
The alternative is a renewed “Bretton-Woods compromise:” preserving some limits on
integration, as built into the original Bretton Woods arrangements, along with some more global
rules to handle the integration that can be achieved. Those who would make a different choice—
toward tighter economic integration—must face up to the corollary: either tighter world
government or less democracy.
During the first four decades following the close of the Second World War, international
policy makers had kept their ambitions in check. They pursued a limited form of
internationalization of their economies, leaving lots of room for national economic management.
Successive rounds of multilateral trade negotiations made great strides, but focused only on the
most egregious of the barriers at the border and excluded large chunks of the economy
1 I am grateful to Michael Weinstein for very helpful suggestions.
2
(agriculture, services, “sensitive” manufactures such as garments). In capital markets,
restrictions on currency transactions and financial flows remained the norm rather than the
exception. This Bretton Woods/GATT regime was successful because its architects subjugated
international economic integration to the needs and demands of national economic management
and of democratic politics.
This strategy changed drastically during the last two decades. Global policy is now
driven by an aggressive agenda of “deep” integration—elimination of all barriers to trade and
capital flows wherever those barriers may be found. The results have been problematic--in terms
of both economic performance (relative to the earlier post-war decades) and political legitimacy.
The simple reason is that “deep” economic integration is unattainable in a context where nation
states and democratic politics still exert considerable force.
The title of this essay conveys therefore two ideas. First, there are inherent limitations to
how far we can push global economic integration. It is neither feasible nor desirable to
maximize what Keynes called “economic entanglements betw ...
The Rise and Fall of the Washington Consensus as aParadigm.docxkathleen23456789
The Rise and Fall of the Washington Consensus as a
Paradigm for Developing Countries
CHARLES GORE *
United Nations Conference on Trade and Development, Geneva, Switzerland
Summary. Ð The introduction of the Washington Consensus involved not simply a swing from
state-led to market-oriented policies, but also a shift in the ways in which development problems
were framed and in the types of explanation through which policies were justi®ed. Key changes
were the partial globalization of development policy analysis, and a shift from historicism to
ahistorical performance assessment. The main challenge to this approach is a latent Southern
Consensus, which is apparent in the convergence between East Asian developmentalism and Latin
American neostructuralism. The demise of the Washington Consensus is inevitable because its
methodology and ideology are in contradiction. Ó 2000 Elsevier Science Ltd. All rights reserved.
Key words Ð development theory, development policies, World Bank/IMF policies
1. INTRODUCTION
Developing countries is an international
practice. The essence of this practice is the
mobilization and allocation of resources, and
the design of institutions, to transform national
economies and societies, in an orderly way,
from a state and status of being less developed
to one of being more developed. The agencies
engaged in this practice include national
governments of less-developed countries, which
have adopted ``development'' as a purpose to
which State power is put, and governments of
richer countries, which disburse o�cial devel-
opment aid to support and in¯uence this
process; a variety of non-governmental orga-
nizations concerned to animate and channel
popular concerns; and international intergov-
ernmental organizations, such as the organs of
the United Nations and the World Bank, many
of which have been expressly set up to resolve
various development problems. Often it is the
last group who have acted as the avant-garde of
development practice. It is because of their
activities, as well as the widespread tendency of
governments to copy successful practice else-
where, that it is appropriate to describe devel-
oping countries as an international practice.
But it is by no means global in scope. Indeed
the practice of developing countries is only
done in a particular set of countriesÐthose
which in the 1950s and 1960s were generally
called ``underdeveloped'' or ``less developed''
countries, but which now generally identify
themselves, and are identi®ed by others, as
``developing countries.''
This paper discusses trends in the body of
knowledge which guides and justi®es the prac-
tice of development. It examines, in particular,
the ideas propagated by international develop-
ment agencies, and focuses on the shift in
thinking which occurred in the 1980s with the
introduction and widespread adoption of an
approach to the practice of developing coun-
tries known as the ``Washington Consensus.''
In broad terms, this approach reco.
A small airline recently sold to a private equity group for $145 m.docxannetnash8266
A small airline recently sold to a private equity group for $145 million. The airline has earned profits of $9 million last year. The new managers believe they can grow profits at 5% per year. The private equity group borrows money from wealthy individuals to invest in acquisitions. Because of the significant risk involved, lenders are promised a 12% return on their loans to the equity group. Is the purchase price of the new airline reasonable? Explain
ISSN 0143-6597 print/ISSN 1360-2241 online/02/040607-1 4 q 2002 Third World Quarterly
DOI: 10.1080 /014365902200000529 2 607
Third World Quarterly, Vol 23, No 4, pp 607–620, 2002
Eager to defend the feasibilit y, indeed desirability, of continued mobility of cross-
border financial flows, especially after the advent of the Asian crisis (1997–98),
the G-7 countries established a series of institutions and networks, encompassin g
both state and non-state actors, in the hope of strengthening the internationa l
financial system. This strategy has been referred to as the New Internationa l
Financial Architecture (NIFA). While there are many dimensions to the NIFA, we
can identify at least three important features: the Group of Twenty (G-20), the
Financial Stability Forum (FSF), and 11 standards and codes which are collec-
tively known as the Reports on Observances of Standards and Codes (ROSCs).
Briefly, the G-20 brings together, for the first time, finance ministers and central
bank governors not only of the G-7 and the European Union, but also their
counterparts of ‘systematically important’ emerging market economies. The FSF,
on the other hand, seeks to provide regular scheduled meetings involvi ng
important national authorities from G-7 countries in order to enhance discussion s
On the contradictions of the New
International Financial Architecture:
another procrustean bed for
emerging markets?
SUSANNE SOEDERBERG
ABSTRACT The New International Financial Architecture (NIFA) was created by
powerful G-7 countries in response to the growing volatility in the developing
world. Some key components of the NIFA include: the G-20, the Financial Stabilit y
Forum and the Reports on Observance of Standards and Codes, the latte r
involving areas such as corporate governanc e. The aim of this article is to
address some important yet largely neglected questions. Why the new building ?
Who benefits from this construct ion? Unlike most accounts of the NIFA, the
following analysis does not remain focused on its institutio nal terrain; but
instead draws linkages between these structures and the paradoxes inherent in
global capitalism. One such contradiction is the constant promotion of financia l
liberalisation in emerging markets by US-led international financial institution s
(IFIs), on the one hand, and the frequency of financial crises in the developing
world, on the other. The article suggests that the NIFA is an attempt to strengthe n
(stabilise and legitimate) the scaffolding of the existing imper.
BRICS 5th Academic Forum - Global Gov Reform Dr Lendy Spires
In the presentation of global governance reform, questions arose on the whether the BRICS “evolutionary or revolutionary”/“reformist or transformist”? It remains to be seen in how the BRICS navigates change in the global regime that could manifest in a global geopolitical power shift from a unipolar to multipolar world. 2 My presentation emphasises three aspects on transforming global governance: 1. I argue that the structure and composition of institutions lags behind the changing political realities and question how the BRICS challenge this situation. 2. The reform agenda of BRICS on international financial institutions is limited. 3. A key issue that differentiates South Africa from the rest of the BRIC countries that may have implications on South Africa role and/or economic participation in the BRICS commitments. 1. The structure and composition of institutions lags behind the changing political realities on how does the BRICS challenge this situation The weakening of the UN as the central global international governance institution is critical to address. For instance if we look at the composition of global institutions to regulate Multinational Corporations, they are non-existent, allowing MNCs to operate with impunity. Rasigan Maharajh in his presentation showed that many of the top MNCs surpasses the economies of countries.2 These corporations have found various ways to increase their profits in a poorly regulated global financial system.
Introduction to AI for Nonprofits with Tapp NetworkTechSoup
Dive into the world of AI! Experts Jon Hill and Tareq Monaur will guide you through AI's role in enhancing nonprofit websites and basic marketing strategies, making it easy to understand and apply.
Biological screening of herbal drugs: Introduction and Need for
Phyto-Pharmacological Screening, New Strategies for evaluating
Natural Products, In vitro evaluation techniques for Antioxidants, Antimicrobial and Anticancer drugs. In vivo evaluation techniques
for Anti-inflammatory, Antiulcer, Anticancer, Wound healing, Antidiabetic, Hepatoprotective, Cardio protective, Diuretics and
Antifertility, Toxicity studies as per OECD guidelines
Palestine last event orientationfvgnh .pptxRaedMohamed3
An EFL lesson about the current events in Palestine. It is intended to be for intermediate students who wish to increase their listening skills through a short lesson in power point.
How to Make a Field invisible in Odoo 17Celine George
It is possible to hide or invisible some fields in odoo. Commonly using “invisible” attribute in the field definition to invisible the fields. This slide will show how to make a field invisible in odoo 17.
Instructions for Submissions thorugh G- Classroom.pptxJheel Barad
This presentation provides a briefing on how to upload submissions and documents in Google Classroom. It was prepared as part of an orientation for new Sainik School in-service teacher trainees. As a training officer, my goal is to ensure that you are comfortable and proficient with this essential tool for managing assignments and fostering student engagement.
Embracing GenAI - A Strategic ImperativePeter Windle
Artificial Intelligence (AI) technologies such as Generative AI, Image Generators and Large Language Models have had a dramatic impact on teaching, learning and assessment over the past 18 months. The most immediate threat AI posed was to Academic Integrity with Higher Education Institutes (HEIs) focusing their efforts on combating the use of GenAI in assessment. Guidelines were developed for staff and students, policies put in place too. Innovative educators have forged paths in the use of Generative AI for teaching, learning and assessments leading to pockets of transformation springing up across HEIs, often with little or no top-down guidance, support or direction.
This Gasta posits a strategic approach to integrating AI into HEIs to prepare staff, students and the curriculum for an evolving world and workplace. We will highlight the advantages of working with these technologies beyond the realm of teaching, learning and assessment by considering prompt engineering skills, industry impact, curriculum changes, and the need for staff upskilling. In contrast, not engaging strategically with Generative AI poses risks, including falling behind peers, missed opportunities and failing to ensure our graduates remain employable. The rapid evolution of AI technologies necessitates a proactive and strategic approach if we are to remain relevant.
5. Choudhri, E., and L. Kochin (1980), “The Exchange Rate and the International Transmission of Business Cycles”, Journal of Money, Credit and Banking 12 (November): 565-74.
6. Debelle, G., and S. Fischer (1994), “How Independent Should A Central Bank Be?”, Proceedings of a Conference Held at the Federal Reserve Bank of Boston.
7. Eichengreen, B. (1992), “The Origins and nature of the Great Slump Revisited”, Economic History Review XLV 2 (May): 215-39.
8. Eichengreen, B. (1992), Golden Fetters: The Gold Standard and the Great Depression 1919-1939 (Oxford: Oxford University Press).
9. Eichengreen, B., and Y-C. Park (2008), “Asia and the Decoupling Myth”, working paper, U.C. Berkeley, May.
11. James, H. (1996), International Monetary Cooperation Since Bretton Woods (New York: Oxford University Press).
12. Klein, M., and J. Shambaugh (2010), Exchange Rate Regimes in the Modern Era (Cambridge, Mass.: The MIT Press).
13.
14. Olson, M. (1965), The Logic of Collective Action (Cambridge, Mass.: Harvard University Press).
15. Reinhart, C., and K. Rogoff (2009), This Time Is Different (Princeton, N.J.: Princeton University Press).
16. Reuters (2008), “Prime Minister Gordon Brown called on Monday for world leaders to come together to remake the Bretton Woods agreement to tackle a 21st century globalised financial system”, 13 October.
17. Reuters (2010), “Group of 20 nations should not be too demanding in respect to policy coordination because that it has never been tried before, but eventually "some agreement" should be possible, India's chief G20 negotiator said on Thursday”, 11 November.