A Critical Analysis Of The Re Emergence Of International Capital Mobility

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A critical analysis of the re-emergence of international capital mobility

Author : Matthias Baumgarten
Publisher : GRIN Verlag
ISBN 13 : 3656064997
Total Pages : 25 pages
Book Rating : 4.6/5 (56 download)

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Book Synopsis A critical analysis of the re-emergence of international capital mobility by : Matthias Baumgarten

Download or read book A critical analysis of the re-emergence of international capital mobility written by Matthias Baumgarten and published by GRIN Verlag. This book was released on 2011-11-23 with total page 25 pages. Available in PDF, EPUB and Kindle. Book excerpt: Seminar paper from the year 2011 in the subject Economics - Finance, grade: 1.0 (83 %), University of Warwick (Politics and International Studies), language: English, abstract: From the days of the Bretton Woods Agreements to the beginning of the subprime crisis, the world witnessed an impressive resurrection of global finance and with it the re-emergence of international capital mobility (ICM). But the phenomenon of ICM is a contested issue among commentators. While some almost go as far as denying its existence, the most widespread discourse portrays ICM as a powerful external force, putting pressure on the state to adopt capital-friendly policies and reduce welfare expenditures. This notion of forced competition among states is manifested in the “capital mobility hypothesis”, which draws a parallel between the rise of ICM and its structural power to constrain the state. The following essay argues that this functional connection is not necessarily given, as the mobility of capital is derived from technical, financial and regulatory sources, while its power originates from discursive mechanisms. By looking at historical developments, it is shown that ICM did indeed re-emerge. But a close examination of the constraints it poses on the different categories of the state reveals that the latter retains significant “room to move”. To understand where the premise of the “capital mobility hypothesis” comes from, ICM is analyzed through discursive institutionalism. A number of relevant discourses are examined and it is concluded that the state itself plays a substantial role in creating and maintaining the idea of ICM’s power.

A Critical Analysis of the Re-Emergence of International Capital Mobility

Author : Matthias Baumgarten
Publisher : GRIN Verlag
ISBN 13 : 3656064792
Total Pages : 53 pages
Book Rating : 4.6/5 (56 download)

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Book Synopsis A Critical Analysis of the Re-Emergence of International Capital Mobility by : Matthias Baumgarten

Download or read book A Critical Analysis of the Re-Emergence of International Capital Mobility written by Matthias Baumgarten and published by GRIN Verlag. This book was released on 2011-11 with total page 53 pages. Available in PDF, EPUB and Kindle. Book excerpt: Seminar paper from the year 2011 in the subject Economics - Finance, grade: 1.0 (83 %), University of Warwick (Politics and International Studies), language: English, abstract: From the days of the Bretton Woods Agreements to the beginning of the subprime crisis, the world witnessed an impressive resurrection of global finance and with it the re-emergence of international capital mobility (ICM). But the phenomenon of ICM is a contested issue among commentators. While some almost go as far as denying its existence, the most widespread discourse portrays ICM as a powerful external force, putting pressure on the state to adopt capital-friendly policies and reduce welfare expenditures. This notion of forced competition among states is manifested in the "capital mobility hypothesis", which draws a parallel between the rise of ICM and its structural power to constrain the state. The following essay argues that this functional connection is not necessarily given, as the mobility of capital is derived from technical, financial and regulatory sources, while its power originates from discursive mechanisms. By looking at historical developments, it is shown that ICM did indeed re-emerge. But a close examination of the constraints it poses on the different categories of the state reveals that the latter retains significant "room to move". To understand where the premise of the "capital mobility hypothesis" comes from, ICM is analyzed through discursive institutionalism. A number of relevant discourses are examined and it is concluded that the state itself plays a substantial role in creating and maintaining the idea of ICM's power.

Global Capital Markets

Author : Maurice Obstfeld
Publisher : Cambridge University Press
ISBN 13 : 9780521671798
Total Pages : 386 pages
Book Rating : 4.6/5 (717 download)

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Book Synopsis Global Capital Markets by : Maurice Obstfeld

Download or read book Global Capital Markets written by Maurice Obstfeld and published by Cambridge University Press. This book was released on 2004 with total page 386 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is an economic survey of international capital mobility from the late nineteenth century to the present.

International Capital Flows

Author : Martin Feldstein
Publisher : University of Chicago Press
ISBN 13 : 0226241807
Total Pages : 500 pages
Book Rating : 4.2/5 (262 download)

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Book Synopsis International Capital Flows by : Martin Feldstein

Download or read book International Capital Flows written by Martin Feldstein and published by University of Chicago Press. This book was released on 2007-12-01 with total page 500 pages. Available in PDF, EPUB and Kindle. Book excerpt: Recent changes in technology, along with the opening up of many regions previously closed to investment, have led to explosive growth in the international movement of capital. Flows from foreign direct investment and debt and equity financing can bring countries substantial gains by augmenting local savings and by improving technology and incentives. Investing companies acquire market access, lower cost inputs, and opportunities for profitable introductions of production methods in the countries where they invest. But, as was underscored recently by the economic and financial crises in several Asian countries, capital flows can also bring risks. Although there is no simple explanation of the currency crisis in Asia, it is clear that fixed exchange rates and chronic deficits increased the likelihood of a breakdown. Similarly, during the 1970s, the United States and other industrial countries loaned OPEC surpluses to borrowers in Latin America. But when the U.S. Federal Reserve raised interest rates to control soaring inflation, the result was a widespread debt moratorium in Latin America as many countries throughout the region struggled to pay the high interest on their foreign loans. International Capital Flows contains recent work by eminent scholars and practitioners on the experience of capital flows to Latin America, Asia, and eastern Europe. These papers discuss the role of banks, equity markets, and foreign direct investment in international capital flows, and the risks that investors and others face with these transactions. By focusing on capital flows' productivity and determinants, and the policy issues they raise, this collection is a valuable resource for economists, policymakers, and financial market participants.

Globalization in Historical Perspective

Author : Michael D. Bordo
Publisher : University of Chicago Press
ISBN 13 : 0226065995
Total Pages : 600 pages
Book Rating : 4.2/5 (26 download)

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Book Synopsis Globalization in Historical Perspective by : Michael D. Bordo

Download or read book Globalization in Historical Perspective written by Michael D. Bordo and published by University of Chicago Press. This book was released on 2007-11-01 with total page 600 pages. Available in PDF, EPUB and Kindle. Book excerpt: As awareness of the process of globalization grows and the study of its effects becomes increasingly important to governments and businesses (as well as to a sizable opposition), the need for historical understanding also increases. Despite the importance of the topic, few attempts have been made to present a long-term economic analysis of the phenomenon, one that frames the issue by examining its place in the long history of international integration. This volume collects eleven papers doing exactly that and more. The first group of essays explores how the process of globalization can be measured in terms of the long-term integration of different markets-from the markets for goods and commodities to those for labor and capital, and from the sixteenth century to the present. The second set of contributions places this knowledge in a wider context, examining some of the trends and questions that have emerged as markets converge and diverge: the roles of technology and geography are both considered, along with the controversial issues of globalization's effects on inequality and social justice and the roles of political institutions in responding to them. The final group of essays addresses the international financial systems that play such a large part in guiding the process of globalization, considering the influence of exchange rate regimes, financial development, financial crises, and the architecture of the international financial system itself. This volume reveals a much larger picture of the process of globalization, one that stretches from the establishment of a global economic system during the nineteenth century through the disruptions of two world wars and the Great Depression into the present day. The keen analysis, insight, and wisdom in this volume will have something to offer a wide range of readers interested in this important issue.

The Mobility of Labor and Capital

Author : Saskia Sassen
Publisher : Cambridge University Press
ISBN 13 : 9780521386722
Total Pages : 244 pages
Book Rating : 4.3/5 (867 download)

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Book Synopsis The Mobility of Labor and Capital by : Saskia Sassen

Download or read book The Mobility of Labor and Capital written by Saskia Sassen and published by Cambridge University Press. This book was released on 1990-06-29 with total page 244 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this empirical study, Saskia Sassen offers a fresh understanding of the processes of international migration. Focusing on immigration into the US from 1960 to 1985 and the part played by American economic activities abroad, as well as foreign investment in the US, she examines the various ways in which the internationalization of production contributes to the formation and direction of labor migration.

The Defining Moment

Author : Michael D. Bordo
Publisher : University of Chicago Press
ISBN 13 : 0226066916
Total Pages : 496 pages
Book Rating : 4.2/5 (26 download)

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Book Synopsis The Defining Moment by : Michael D. Bordo

Download or read book The Defining Moment written by Michael D. Bordo and published by University of Chicago Press. This book was released on 2007-12-01 with total page 496 pages. Available in PDF, EPUB and Kindle. Book excerpt: In contemporary American political discourse, issues related to the scope, authority, and the cost of the federal government are perennially at the center of discussion. Any historical analysis of this topic points directly to the Great Depression, the "moment" to which most historians and economists connect the origins of the fiscal, monetary, and social policies that have characterized American government in the second half of the twentieth century. In the most comprehensive collection of essays available on these topics, The Defining Moment poses the question directly: to what extent, if any, was the Depression a watershed period in the history of the American economy? This volume organizes twelve scholars' responses into four categories: fiscal and monetary policies, the economic expansion of government, the innovation and extension of social programs, and the changing international economy. The central focus across the chapters is the well-known alternations to national government during the 1930s. The Defining Moment attempts to evaluate the significance of the past half-century to the American economy, while not omitting reference to the 1930s. The essays consider whether New Deal-style legislation continues to operate today as originally envisioned, whether it altered government and the economy as substantially as did policies inaugurated during World War II, the 1950s, and the 1960s, and whether the legislation had important precedents before the Depression, specifically during World War I. Some chapters find that, surprisingly, in certain areas such as labor organization, the 1930s responses to the Depression contributed less to lasting change in the economy than a traditional view of the time would suggest. On the whole, however, these essays offer testimony to the Depression's legacy as a "defining moment." The large role of today's government and its methods of intervention—from the pursuit of a more active monetary policy to the maintenance and extension of a wide range of insurance for labor and business—derive from the crisis years of the 1930s.

Global Trends 2040

Author : National Intelligence Council
Publisher : Cosimo Reports
ISBN 13 : 9781646794973
Total Pages : 158 pages
Book Rating : 4.7/5 (949 download)

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Book Synopsis Global Trends 2040 by : National Intelligence Council

Download or read book Global Trends 2040 written by National Intelligence Council and published by Cosimo Reports. This book was released on 2021-03 with total page 158 pages. Available in PDF, EPUB and Kindle. Book excerpt: "The ongoing COVID-19 pandemic marks the most significant, singular global disruption since World War II, with health, economic, political, and security implications that will ripple for years to come." -Global Trends 2040 (2021) Global Trends 2040-A More Contested World (2021), released by the US National Intelligence Council, is the latest report in its series of reports starting in 1997 about megatrends and the world's future. This report, strongly influenced by the COVID-19 pandemic, paints a bleak picture of the future and describes a contested, fragmented and turbulent world. It specifically discusses the four main trends that will shape tomorrow's world: - Demographics-by 2040, 1.4 billion people will be added mostly in Africa and South Asia. - Economics-increased government debt and concentrated economic power will escalate problems for the poor and middleclass. - Climate-a hotter world will increase water, food, and health insecurity. - Technology-the emergence of new technologies could both solve and cause problems for human life. Students of trends, policymakers, entrepreneurs, academics, journalists and anyone eager for a glimpse into the next decades, will find this report, with colored graphs, essential reading.

Emerging Capital Markets and Globalization

Author : Augusto de la Torre
Publisher : World Bank Publications
ISBN 13 : 0821365444
Total Pages : 232 pages
Book Rating : 4.8/5 (213 download)

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Book Synopsis Emerging Capital Markets and Globalization by : Augusto de la Torre

Download or read book Emerging Capital Markets and Globalization written by Augusto de la Torre and published by World Bank Publications. This book was released on 2006-10-20 with total page 232 pages. Available in PDF, EPUB and Kindle. Book excerpt: Back in the early 1990s, economists and policy makers had high expectations about the prospects for domestic capital market development in emerging economies, particularly in Latin America. Unfortunately, they are now faced with disheartening results. Stock and bond markets remain illiquid and segmented. Debt is concentrated at the short end of the maturity spectrum and denominated in foreign currency, exposing countries to maturity and currency risk. Capital markets in Latin America look particularly underdeveloped when considering the many efforts undertaken to improve the macroeconomic environment and to reform the institutions believed to foster capital market development. The disappointing performance has made conventional policy recommendations questionable, at best. 'Emerging Capital Markets and Globalization' analyzes where we stand and where we are heading on capital market development. First, it takes stock of the state and evolution of Latin American capital markets and related reforms over time and relative to other countries. Second, it analyzes the factors related to the development of capital markets, with particular interest on measuring the impact of reforms. And third, in light of this analysis, it discusses the prospects for capital market development in Latin America and emerging economies and the implications for the reform agenda.

Managing Capital Flows

Author : Masahiro Kawai
Publisher : Edward Elgar Publishing
ISBN 13 : 184980687X
Total Pages : 465 pages
Book Rating : 4.8/5 (498 download)

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Book Synopsis Managing Capital Flows by : Masahiro Kawai

Download or read book Managing Capital Flows written by Masahiro Kawai and published by Edward Elgar Publishing. This book was released on 2010-01-01 with total page 465 pages. Available in PDF, EPUB and Kindle. Book excerpt: Managing Capital Flows provides analyses that can help policymakers develop a framework for managing capital flows that is consistent with prudent macroeconomic and financial sector stability. While capital inflows can provide emerging market economies with invaluable benefits in pursuing economic development and growth, they can also pose serious policy challenges for macroeconomic management and financial sector supervision. The expert contributors cover a wide range of issues related to managing capital flows and analyze the experience of emerging Asian economies in dealing with surges in capital inflows. They also discuss possible policy measures to manage capital flows while remaining consistent with the goals of macroeconomic and financial sector stability. Building on this analysis, the book presents options for workable national policies and regional policy cooperation, particularly in exchange rate management. Containing chapters that bring in international experiences relevant to Asia and other emerging market economies, this insightful book will appeal to policymakers in governments and financial institutions, as well as public and private finance experts. It will also be of great interest to advanced students and academic researchers in finance.

Behind the Numbers

Author : National Research Council
Publisher : National Academies Press
ISBN 13 : 0309045908
Total Pages : 312 pages
Book Rating : 4.3/5 (9 download)

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Book Synopsis Behind the Numbers by : National Research Council

Download or read book Behind the Numbers written by National Research Council and published by National Academies Press. This book was released on 1992-02-01 with total page 312 pages. Available in PDF, EPUB and Kindle. Book excerpt: America's international economic decisions rest to a large degree on the information available to policymakers. Yet the quality of international trade and financial data is in serious doubt. This book reveals how our systems for collecting and analyzing trade data have fallen behind the times-and presents recommendations for new approaches to accuracy and usefulness of these economic data. The volume traces the burgeoning use of international economic data by public and private analysts at a time when the United States is becoming increasingly integrated into the world economy. It also points out problems of capturing new transactions, comparing data from different sources, limited access to the data, and more. This is the first volume to review all three types of U.S. international data-merchandise trade, international services transactions, and capital flows. Highlights include: Specific steps for U.S. agencies to take. Special analyses on improving the accuracy of merchandise trade data, filling data gaps on the fast-growing international services transactions, and understanding structural changes in world capital markets. Comments, complaints, and suggestions from an original survey of more than 100 key users of trade data. This practical volume will be invaluable to policymakers, government officials, business executives, economists, statisticians, and researchers.

Gross Private Capital Flows to Emerging Markets

Author : Erlend Nier
Publisher : International Monetary Fund
ISBN 13 : 1498352928
Total Pages : 35 pages
Book Rating : 4.4/5 (983 download)

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Book Synopsis Gross Private Capital Flows to Emerging Markets by : Erlend Nier

Download or read book Gross Private Capital Flows to Emerging Markets written by Erlend Nier and published by International Monetary Fund. This book was released on 2014-10-27 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper assesses empirically the key drivers of private capital flows to a large sample of emerging market economies in the last decade. It analyzes the effect of the global financial cycle, measured by the VIX, on capital flows and investigates the role of fundamentals and country characteristics in mitigating or amplifying its effect. Using interaction models, we find the effect of the VIX to be non-linear. For low levels of the VIX, capital flows are driven by fundamental factors. During periods of stress, the VIX becomes the dominant driver of capital flows while other determinants, with the exception of interest rate differentials, lose statistical significance. Our results also suggest that the effect of global financial conditions on gross private capital flows increases with the host country’s level of financial sector development. Finally, our results imply that countries cannot fully insulate themselves from global financial shocks, unless creating a fragmented global financial system.

Managing Elevated Risk

Author : Iwan J. Azis
Publisher : Springer
ISBN 13 : 9812872841
Total Pages : 129 pages
Book Rating : 4.8/5 (128 download)

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Book Synopsis Managing Elevated Risk by : Iwan J. Azis

Download or read book Managing Elevated Risk written by Iwan J. Azis and published by Springer. This book was released on 2014-12-11 with total page 129 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book discusses the risks and opportunities that arise in Emerging Asia given the context of a new environment in global liquidity and capital flows. It elaborates on the need to ensure financial and overall economic stability in the region through improved financial regulation and other policy measures to minimize the emergent risks. "Managing Elevated Risk: Global Liquidity, Capital Flows, and Macroprudential Policy—An Asian Perspective" also explores the range of policy options that may be deployed to address the impact of global liquidity on domestic financial and socio-economic conditions including income inequality. The book is primarily aimed at policy makers, financial market regulators and supervisory agencies to help them improve national regulatory systems and to promote harmonization of national regulations and practices in line with global standards. Scholars and researchers will also gain important information and knowledge about the overall impacts of changing global liquidity from the book.

The Rise of Financial Capitalism

Author : Larry Neal
Publisher : Cambridge University Press
ISBN 13 : 9780521457385
Total Pages : 294 pages
Book Rating : 4.4/5 (573 download)

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Book Synopsis The Rise of Financial Capitalism by : Larry Neal

Download or read book The Rise of Financial Capitalism written by Larry Neal and published by Cambridge University Press. This book was released on 1993-11-26 with total page 294 pages. Available in PDF, EPUB and Kindle. Book excerpt: Based on computer analysis of price quotes from the eighteenth-century financial press, this work reevaluates the evolution of financial markets.

The Political Economy of International Capital Mobility

Author : M. Watson
Publisher : Springer
ISBN 13 : 023059266X
Total Pages : 266 pages
Book Rating : 4.2/5 (35 download)

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Book Synopsis The Political Economy of International Capital Mobility by : M. Watson

Download or read book The Political Economy of International Capital Mobility written by M. Watson and published by Springer. This book was released on 2007-07-03 with total page 266 pages. Available in PDF, EPUB and Kindle. Book excerpt: Matthew Watson draws a distinction between the spatial and the functional mobility of capital, allowing fresh insights into existing work on the subject whilst repoliticizing the very idea of capital being 'in motion'. The dynamics of capital mobility and the patterns of risk exposure are illustrated through four detailed global case studies.

Debt, Stabilization, and Development

Author : Guillermo Calvo
Publisher : Wiley-Blackwell
ISBN 13 : 9780631156857
Total Pages : 462 pages
Book Rating : 4.1/5 (568 download)

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Book Synopsis Debt, Stabilization, and Development by : Guillermo Calvo

Download or read book Debt, Stabilization, and Development written by Guillermo Calvo and published by Wiley-Blackwell. This book was released on 1989-01-01 with total page 462 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Globalization Unmasked

Author : James Petras
Publisher : Zed Books
ISBN 13 : 9781856499392
Total Pages : 194 pages
Book Rating : 4.4/5 (993 download)

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Book Synopsis Globalization Unmasked by : James Petras

Download or read book Globalization Unmasked written by James Petras and published by Zed Books. This book was released on 2001-07 with total page 194 pages. Available in PDF, EPUB and Kindle. Book excerpt: Perhaps no word today is used and misused more than globalization. It generally serves to refer to worldwide epoch-defining changes in the organization of societies, economies and politics. But as Petras and Veltmeyer demonstrate, the term globalization obscures much more than it reveals. In practice, globalization provides a cover for a new form of imperialist exploitation and the institution of US hegemony over a global process of capital accumulation. In the last decade, capitalists in Europe and the United States have created favourable conditions for the takeover and recolonization of economies across the developing world. International capital has managed to restore highly profitable returns on investments and operations as never before, creating islands of opulent prosperity within a sea of growing poverty and misery. In effect, this book argues that the terms globalization and imperialism are widely used as alternative frameworks for understanding the dynamics of the same worldwide developments and trends. Employing an imperialist analytical framework over that of globalization not only provides a better understanding but also points towards forces of resistance and opposition that through political action may bring about necessary change.