Financial Globalization and Democracy in Emerging Markets - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Financial Globalization and Democracy in Emerging Markets write by Leslie Elliott Armijo. This book was released on 1999. Financial Globalization and Democracy in Emerging Markets available in PDF, EPUB and Kindle. When Mexico's peso crisis occurred in December 1994, all of Latin America experienced the 'tequila effect'. In January 1998, after seven months of financial turmoil in East Asia, Alan Greenspan, the normally reticent Chairman of the US Federal Reserve Bank, noted that such 'vicious cycles ... may, in fact, be a defining characteristic of the new high-tech international financial system'. This book examines the impact of the new, highly liquid, portfolio capital flows on governments, opposition politicians, business and the work-force in such emerging market countries as Mexico, Brazil, Russia, India, Vietnam, Thailand and Indonesia. The contributors lament the economic and political strains on often fragile governments forced by global markets to reduce expenditures and employment drastically in order to defend their currencies. Possible silver linings of financial globalization include the discrediting of incumbent authoritarian regimes and external reinforcement for sound macroeconomicpolicies.
Financial Globalization and Democracy in Emerging Markets
Financial Globalization and Democracy in Emerging Markets - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Financial Globalization and Democracy in Emerging Markets write by L. Armijo. This book was released on 1999-01-13. Financial Globalization and Democracy in Emerging Markets available in PDF, EPUB and Kindle. When Mexico's peso crisis occurred in December 1994, all of Latin America experienced the 'tequila effect'. In January 1998, after seven months of financial turmoil in East Asia, Alan Greenspan, the usually reticent Chairman of the US Federal Reserve Bank, noted that such 'vicious cycles...may, in fact, be a defining characteristic of the new high-tech international financial system'. This book examines the impact of the new, highly liquid portfolio capital flows on governments, opposition, politicians, business and the workforce in such emerging market countries as Mexico, Brazil, Russia, Indonesia, Vietnam, Thailand and Indonesia. Hailed as 'exemplary and innovative', 'fine-grained and accessible' and 'a must read', this collection of original essays in newly available in paperback.
Financial Globalization, the Democratic Deficit and Recurrent Crises in Emerging Markets
Financial Globalization, the Democratic Deficit and Recurrent Crises in Emerging Markets - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Financial Globalization, the Democratic Deficit and Recurrent Crises in Emerging Markets write by C. Emre Alper. This book was released on 2001. Financial Globalization, the Democratic Deficit and Recurrent Crises in Emerging Markets available in PDF, EPUB and Kindle. Financial globalization offers both risks and benefits for countries of the semi-periphery orthe so-called "emerging markets". Politics within the national space matters, yet acquires a new meaning, in the age of financial globalization. "Weak democracies" are characterized by limited accountability and transparency of the state and other key political institutions. Such democracies tend to suffer from populist cycles, which result in low capacity to carry out economic reform. Financial globalization, in turn, magnifies populist cycles and renders their consequences more severe. Hence "weak democracies" are confronted with the predominantly negative side of financial globalization which includes over-dependence on short-term capital flows, speculative attacks and recurrent financial crises leading to slow growth and a more regressive income distributional profile. The relevance of these set of propositions are illustrated with reference to the case of Turkey which, indeed, experienced recurrent financial crises in the post-capital account liberalization era with costly consequences for the real economy. Two general conclusions follow. Firstly, there is a need to strengthen democracy in the developing world. Secondly, since this is hard to accomplish over a short space of time serious question marks are raised concerning the desirability of early exposure to financial globalization given the current state of the world.
The Globalization Paradox: Democracy and the Future of the World Economy
The Globalization Paradox: Democracy and the Future of the World Economy - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook The Globalization Paradox: Democracy and the Future of the World Economy write by Dani Rodrik. This book was released on 2012-02-28. The Globalization Paradox: Democracy and the Future of the World Economy available in PDF, EPUB and Kindle. Discusses how democracy and national self-determination cannot be pursued simultaneously with economic globalization and instead promotes customizable globalization with international rules to achieve balanced prosperity.
The Globalization Paradox
The Globalization Paradox - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook The Globalization Paradox write by Dani Rodrik. This book was released on 2012-05-17. The Globalization Paradox available in PDF, EPUB and Kindle. For a century, economists have driven forward the cause of globalization in financial institutions, labour markets, and trade. Yet there have been consistent warning signs that a global economy and free trade might not always be advantageous. Where are the pressure points? What could be done about them? Dani Rodrik examines the back-story from its seventeenth-century origins through the milestones of the gold standard, the Bretton Woods Agreement, and the Washington Consensus, to the present day. Although economic globalization has enabled unprecedented levels of prosperity in advanced countries and has been a boon to hundreds of millions of poor workers in China and elsewhere in Asia, it is a concept that rests on shaky pillars, he contends. Its long-term sustainability is not a given. The heart of Rodrik’s argument is a fundamental 'trilemma': that we cannot simultaneously pursue democracy, national self-determination, and economic globalization. Give too much power to governments, and you have protectionism. Give markets too much freedom, and you have an unstable world economy with little social and political support from those it is supposed to help. Rodrik argues for smart globalization, not maximum globalization.
