Financial Crisis Management And Democracy

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Financial Crisis Management and Democracy

Bettina De Souza Guilherme,Christian Ghymers,Stephany Griffith-Jones,Andrea Ribeiro Hoffmann
Financial Crisis Management and Democracy Book PDF

Author : Bettina De Souza Guilherme,Christian Ghymers,Stephany Griffith-Jones,Andrea Ribeiro Hoffmann
Publisher : Springer Nature
Page : 372 pages
File Size : 53,8 Mb
Release : 2020-12-09
Category : Business & Economics
ISBN : 9783030548957

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Financial Crisis Management and Democracy by Bettina De Souza Guilherme,Christian Ghymers,Stephany Griffith-Jones,Andrea Ribeiro Hoffmann Pdf

This open access book discusses financial crisis management and policy in Europe and Latin America, with a special focus on equity and democracy. Based on a three-year research project by the Jean Monnet Network, this volume takes an interdisciplinary, comparative approach, analyzing both the role and impact of the EU and regional organizations in Latin America on crisis management as well as the consequences of crisis on the process of European integration and on Latin America’s regionalism. The book begins with a theoretical introduction, exploring the effects of the paradigm change on economic policies in Europe and in Latin America and analyzing key systemic aspects of the unsustainability of the present economic system explaining the global crises and their interconnections. The following chapters are divided into sections. The second section explores aspects of regional governance and how the economic and financial crises were managed on a macro level in Europe and Latin America. The third and fourth sections use case studies to drill down to the impact of the crises at the national and regional levels, including the emergence of political polarization and rise in populism in both areas. The last section presents proposals for reform, including the transition from finance capitalism to a sustainable real capitalism in both regions and at the inter-regional level of EU-LAC relations.The volume concludes with an epilogue on financial crises, regionalism, and domestic adjustment by Loukas Tsoukalis, President of the Hellenic Foundation for European and Foreign Policy (ELIAMEP). Written by an international network of academics, practitioners and policy advisors, this volume will be of interest to researchers and students interested in macroeconomics, comparative regionalism, democracy, and financial crisis management as well as politicians, policy advisors, and members of national and regional organizations in the EU and Latin America.

Political Bubbles

Nolan McCarty,Keith T. Poole,Howard Rosenthal
Political Bubbles Book PDF

Author : Nolan McCarty,Keith T. Poole,Howard Rosenthal
Publisher : Princeton University Press
Page : 368 pages
File Size : 43,6 Mb
Release : 2013-05-26
Category : Political Science
ISBN : 9780691145013

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Political Bubbles by Nolan McCarty,Keith T. Poole,Howard Rosenthal Pdf

Behind every financial crisis lurks a "political bubble"--policy biases that foster market behaviors leading to financial instability. Rather than tilting against risky behavior, political bubbles--arising from a potent combination of beliefs, institutions, and interests--aid, abet, and amplify risk. Demonstrating how political bubbles helped create the real estate-generated financial bubble and the 2008 financial crisis, this book argues that similar government oversights in the aftermath of the crisis undermined Washington's response to the "popped" financial bubble, and shows how such patterns have occurred repeatedly throughout US history. The authors show that just as financial bubbles are an unfortunate mix of mistaken beliefs, market imperfections, and greed, political bubbles are the product of rigid ideologies, unresponsive and ineffective government institutions, and special interests. Financial market innovations--including adjustable-rate mortgages, mortgage-backed securities, and credit default swaps--become subject to legislated leniency and regulatory failure, increasing hazardous practices. The authors shed important light on the politics that blinds regulators to the economic weaknesses that create the conditions for economic bubbles and recommend simple, focused rules that should help avoid such crises in the future. The first full accounting of how politics produces financial ruptures, Political Bubbles offers timely lessons that all sectors would do well to heed.

Democracy under stress

Ursula J. van Beek,Edmund Wnuk-Lipinski
Democracy under stress Book PDF

Author : Ursula J. van Beek,Edmund Wnuk-Lipinski
Publisher : Verlag Barbara Budrich
Page : 244 pages
File Size : 54,7 Mb
Release : 2011-11-29
Category : Political Science
ISBN : 9783866495807

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Democracy under stress by Ursula J. van Beek,Edmund Wnuk-Lipinski Pdf

This book focuses on the global financial crisis of 2008-2009 and its implications for democracy. Why and how did the crisis come about? Are there any instructive lessons to be drawn from comparisons with the Great Depression of the 1930s? What are the democratic response mechanisms to cope with serious crises? Do they work? Is China a new trend setter? Do values matter? Are global democratic rules a possibility? These are some of the key questions addressed in the volume.

Moments of Truth

Francisco Panizza,George Philip
Moments of Truth Book PDF

Author : Francisco Panizza,George Philip
Publisher : Routledge
Page : 246 pages
File Size : 41,5 Mb
Release : 2013-11-07
Category : Political Science
ISBN : 9781135050795

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Moments of Truth by Francisco Panizza,George Philip Pdf

The current financial and sovereign debt crisis of the European Union and the United States can be regarded as the most recent of a wave of financial and sovereign debt crises that have affected different regions of the world over the past quarter century. While there is a large and growing body of literature on the economic aspects of financial crises, its political elements remain surprisingly under-studied. Moments of Truth: The Politics of Financial Crises in Comparative Perspective fills this gap in the literature by looking at the political repercussions and policy implications of financial crises in comparative perspective, using case studies in Latin America, Korea, and Russia, as well as the contemporary crises in the US and in key European countries. Contributors to this volume look at the crises as critical junctures that generate high levels of uncertainty while calling for decisive action. The chapters emphasize structural or agency based explanations and give relevance to the role of ideas, interests, and institutions in explaining different outcomes. The questions addressed by the case studies include: how the crises were defined by key actors, the range of political and policy options available to deal with their impact, the role of ideas in policy shifts, how political and economic actors redefine their interests in contexts of uncertainty, how political institutions mediate reactions to the crises, what explains the choice of a certain option over other alternatives, and whether the crisis has (so far) resulted in significant political and policy changes or in incremental adjustments to the status quo. The first book to comparatively analyze the political dimensions of financial crises across different global regions, Moments of Truth will be highly significant for any scholars interested in the contemporary debate on financial crises.

Systemic Risk

Helmut Willke,Eva Becker,Carla Rostásy
Systemic Risk Book PDF

Author : Helmut Willke,Eva Becker,Carla Rostásy
Publisher : Campus Verlag
Page : 285 pages
File Size : 47,5 Mb
Release : 2013-09
Category : Political Science
ISBN : 9783593399881

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Systemic Risk by Helmut Willke,Eva Becker,Carla Rostásy Pdf

Five years have passed since the outbreak of one of the worst financial crises the world has ever witnessed. Yet, despite the exceedingly diverse range of publications that have sought to explain the causes and the logic of the crisis, central questions have remained unanswered. Indeed, not only has systemic risk become a buzzword, but it has also developed into an acute threat. But what exactly constitutes the very essence of this concept, and ought it to be considered an economic or a political phenomenon? In addressing these questions, this volume draws upon political economy as an approach to analyze the concept of systemic risk as well as corresponding dilemmas of political order, legitimacy, and expertise. The resulting discussion posits major consequences for the political governance of financial systems in the increasingly interconnected world of the twenty-first century.

Democracy Under Stress

Edmund Wnuk-Lipinski,Ursula J Van Beek
Democracy Under Stress Book PDF

Author : Edmund Wnuk-Lipinski,Ursula J Van Beek
Publisher : Saint Philip Street Press
Page : 244 pages
File Size : 44,9 Mb
Release : 2020-10-09
Category : Electronic
ISBN : 1013292685

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Democracy Under Stress by Edmund Wnuk-Lipinski,Ursula J Van Beek Pdf

This book focuses on the global financial crisis of 2008-2009 and its implications for democracy. Why and how did the crisis come about? Are there any instructive lessons to be drawn from comparisons with the Great Depression of the 1930s? What are the democratic response mechanisms to cope with serious crises? Do they work? Is China a new trend setter? Do values matter? Are global democratic rules a possibility? These are some of the key questions addressed in the volume. This work was published by Saint Philip Street Press pursuant to a Creative Commons license permitting commercial use. All rights not granted by the work's license are retained by the author or authors.

Democracy and Crisis

B. Isakhan,S. Slaughter
Democracy and Crisis Book PDF

Author : B. Isakhan,S. Slaughter
Publisher : Springer
Page : 273 pages
File Size : 55,5 Mb
Release : 2014-05-27
Category : Political Science
ISBN : 9781137326041

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Democracy and Crisis by B. Isakhan,S. Slaughter Pdf

Recent years have seen constant reports on the failures of governance and the crisis of democracy. By examining cases like Global Financial Crisis, the Arab Revolutions and Wikileaks this volume highlights tensions between governance and democracy during times of crisis and examines the prospects of democratising governance in the 21st Century.

Trust and Crisis Management in the European Union

Dóra Győrffy
Trust and Crisis Management in the European Union Book PDF

Author : Dóra Győrffy
Publisher : Springer
Page : 244 pages
File Size : 40,9 Mb
Release : 2018-01-03
Category : Business & Economics
ISBN : 9783319692128

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Trust and Crisis Management in the European Union by Dóra Győrffy Pdf

This book addresses and explains the divergent economic and political outcomes of the financial crisis in the eight European Union member states which needed a bailout program: Cyprus, Greece, Hungary, Ireland, Latvia, Portugal, Romania and Spain. Looking at crisis management as a series of relationships where cooperation is essential, this book focuses on the essential role of trust during the process. It argues that the presence or absence of trust during the negotiation and implementation of the bailout program leads to self-reinforcing cycles of success and failure. The analysis of these eight countries also explores the institutional sources of trust – it shows that a commitment to limited government is associated with both economic success and resistance to populism. The final chapter considers the implications for the future of the EU and calls attention to the importance of strengthening domestic institutions in order to bridge the gap between concerns over moral hazard and expectations of solidarity.

Unchecked and Unbalanced

Arnold S. Kling
Unchecked and Unbalanced Book PDF

Author : Arnold S. Kling
Publisher : Rowman & Littlefield
Page : 142 pages
File Size : 49,6 Mb
Release : 2010
Category : Business & Economics
ISBN : 144220124X

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Unchecked and Unbalanced by Arnold S. Kling Pdf

In Unchecked and Unbalanced, Arnold Kling provides a blueprint for those who are skeptical of political and financial elitism. At the heart of Kling's argument is the growing discrepancy between two phenomena: knowledge is becoming more diffuse, while political power is becoming more concentrated. Kling sees this knowledge/power discrepancy at the heart of the financial crisis of 2008. Financial industry executives and regulatory officials lacked the ability to fathom the complexity of the system that had emerged. And, in response, Treasury Secretary Henry Paulson and Federal Reserve Board Chairman Ben Bernanke, said that they required still more power, including $700 billion to purchase "toxic assets" from banks. Kling warns that increased concentration of power is a problem, not a panacea, for our modern world and suggests reforms designed to curb the growth of government and allow citizens greater control over the allocation of public goods. Published in cooperation with the Hoover Institution

The Financial Crisis Inquiry Report

Financial Crisis Inquiry Commission
The Financial Crisis Inquiry Report Book PDF

Author : Financial Crisis Inquiry Commission
Publisher : Cosimo, Inc.
Page : 692 pages
File Size : 45,7 Mb
Release : 2011-05-01
Category : Political Science
ISBN : 9781616405410

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The Financial Crisis Inquiry Report by Financial Crisis Inquiry Commission Pdf

The Financial Crisis Inquiry Report, published by the U.S. Government and the Financial Crisis Inquiry Commission in early 2011, is the official government report on the United States financial collapse and the review of major financial institutions that bankrupted and failed, or would have without help from the government. The commission and the report were implemented after Congress passed an act in 2009 to review and prevent fraudulent activity. The report details, among other things, the periods before, during, and after the crisis, what led up to it, and analyses of subprime mortgage lending, credit expansion and banking policies, the collapse of companies like Fannie Mae and Freddie Mac, and the federal bailouts of Lehman and AIG. It also discusses the aftermath of the fallout and our current state. This report should be of interest to anyone concerned about the financial situation in the U.S. and around the world.THE FINANCIAL CRISIS INQUIRY COMMISSION is an independent, bi-partisan, government-appointed panel of 10 people that was created to "examine the causes, domestic and global, of the current financial and economic crisis in the United States." It was established as part of the Fraud Enforcement and Recovery Act of 2009. The commission consisted of private citizens with expertise in economics and finance, banking, housing, market regulation, and consumer protection. They examined and reported on "the collapse of major financial institutions that failed or would have failed if not for exceptional assistance from the government."News Dissector DANNY SCHECHTER is a journalist, blogger and filmmaker. He has been reporting on economic crises since the 1980's when he was with ABC News. His film In Debt We Trust warned of the economic meltdown in 2006. He has since written three books on the subject including Plunder: Investigating Our Economic Calamity (Cosimo Books, 2008), and The Crime Of Our Time: Why Wall Street Is Not Too Big to Jail (Disinfo Books, 2011), a companion to his latest film Plunder The Crime Of Our Time. He can be reached online at www.newsdissector.com.

Coping with Crisis

Nancy Bermeo,Jonas Pontusson
Coping with Crisis Book PDF

Author : Nancy Bermeo,Jonas Pontusson
Publisher : Russell Sage Foundation
Page : 432 pages
File Size : 54,6 Mb
Release : 2012-09-06
Category : Political Science
ISBN : 0871540762

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Coping with Crisis by Nancy Bermeo,Jonas Pontusson Pdf

The financial crisis that erupted on Wall Street in 2008 quickly cascaded throughout much of the advanced industrial world. Facing the specter of another Great Depression, policymakers across the globe responded in sharply different ways to avert an economic collapse. Why did the response to the crisis—and its impact on individual countries—vary so greatly among interdependent economies? How did political factors like public opinion and domestic interest groups shape policymaking in this moment of economic distress? Coping with Crisis offers a rigorous analysis of the choices societies made as a devastating global economic crisis unfolded. With an ambitiously broad range of inquiry, Coping with Crisis examines the interaction between international and domestic politics to shed new light on the inner workings of democratic politics. The volume opens with an engaging overview of the global crisis and the role played by international bodies like the G-20 and the WTO. In his survey of international initiatives in response to the recession, Eric Helleiner emphasizes the limits of multilateral crisis management, finding that domestic pressures were more important in reorienting fiscal policy. He also argues that unilateral decisions by national governments to hold large dollar reserves played the key role in preventing a dollar crisis, which would have considerably worsened the downturn. David R. Cameron discusses the fiscal responses of the European Union and its member states. He suggests that a profound coordination problem involving fiscal and economic policy impeded the E.U.'s ability to respond in a timely and effective manner. The volume also features several case studies and country comparisons. Nolan McCarty assesses the performance of the American political system during the crisis. He argues that the downturn did little to dampen elite polarization in the U.S.; divisions within the Democratic Party—as well as the influence of the financial sector—narrowed the range of policy options available to fight the crisis. Ben W. Ansell examines how fluctuations in housing prices in 30 developed countries affected the policy preferences of both citizens and political parties. His evidence shows that as housing prices increased, homeowners expressed preferences for both lower taxes and a smaller safety net. As more citizens supplement their day-to-day income with assets like stocks and housing, Ansell's research reveals a potentially significant trend in the formation of public opinion. Five years on, the prospects for a prolonged slump in economic activity remain high, and the policy choices going forward are contentious. But the policy changes made between 2007 and 2010 will likely constrain any new initiatives in the future. Coping with Crisis offers unmatched analysis of the decisions made in the developed world during this critical period. It is an essential read for scholars of comparative politics and anyone interested in a comprehensive account of the new international politics of austerity.

Framing the Global Economic Downturn

Paul 't Hart,Karen Tindall
Framing the Global Economic Downturn Book PDF

Author : Paul 't Hart,Karen Tindall
Publisher : ANU E Press
Page : 362 pages
File Size : 42,8 Mb
Release : 2009-09-01
Category : Political Science
ISBN : 9781921666056

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Framing the Global Economic Downturn by Paul 't Hart,Karen Tindall Pdf

The global economic downturn that followed the collapse of major US financial institutions is no doubt the most significant crisis of our times. Its effects on corporate and governmental balance sheets have been devastating, as have been its impacts on the employment and well being of tens of millions of citizens. It continues to pose major challenges to national policymakers and institutions around the world. Managing public uncertainty and anxiety is vital in coping with financial crises. This requires not just prompt action but, most of all, persuasive communication by government leaders. At the same time, the very occurrence of such crises raises acute questions about the effectiveness and robustness of current government policies and institutions. With the stakes being so high, defining and interpreting what is going on, how and why it happened, and what ought to be done now become key questions in the political and policy struggles that crises invariably unleash. In this volume, we study how heads of government, finance ministers and national bank governors in eight countries as well as the EU engage in such 'framing contests', and how their attempts to interpret the cascading events of the economic downturn were publicly received. Using systematic content analysis of speeches and media coverage, this volume offers a unique comparative assessment of public leadership in times of crisis.

Crisis Communication, Liberal Democracy, and Ecological Sustainability

Majia Holmer Nadesan
Crisis Communication Liberal Democracy and Ecological Sustainability Book PDF

Author : Majia Holmer Nadesan
Publisher : Unknown
Page : 0 pages
File Size : 42,8 Mb
Release : 2016
Category : Language Arts & Disciplines
ISBN : 073919495X

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Crisis Communication, Liberal Democracy, and Ecological Sustainability by Majia Holmer Nadesan Pdf

Through detailed and empirical analysis of the institutions, governing logics, risk-management practices, and crisis communications involved in the 2007-2008 financial crisis, the 2010 BP oil crisis, and the 2011 Fukushima Daiichi nuclear crisis, this book demonstrates that contemporary financial and energy complexes pose significant threats to liberal democracy and ecological sustainability.

The 99 Percent Economy

Paul S. Adler
The 99 Percent Economy Book PDF

Author : Paul S. Adler
Publisher : Oxford University Press
Page : 272 pages
File Size : 52,8 Mb
Release : 2019-09-05
Category : Political Science
ISBN : 9780190931896

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The 99 Percent Economy by Paul S. Adler Pdf

We live in a time of crises - economic turmoil, workplace disempowerment, unresponsive government, environmental degradation, social disintegration, and international rivalry. In The 99 Percent Economy, Paul S. Adler, a leading expert on business management, argues that these crises are destined to deepen unless we radically transform our economy. But despair is not an option, and Adler provides a compelling alternative: democratic socialism. He argues that to overcome these crises we need to assert democratic control over the management of both individual enterprises and the entire national economy. To show how that would work, he draws on a surprising source of inspiration: the strategic management processes of many of our largest corporations. In these companies, the strategy process promises to involve and empower workers and to ensure efficiency and innovation. In practice, this promise is rarely realized, but in principle, that process could be consolidated within enterprises and it could be scaled-up to the national level. Standing in the way? Private ownership of society's productive resources, which is the foundation of capitalism's ruthless competition and focus on private gain at the cost of society, the environment, and future generations. Adler shows how socialized, public ownership of our resources will enable democratic councils at the local and national levels to decide on our economic, social, and environmental goals and on how to reach them. The growing concentration of industry makes this socialization step ever easier. Democratic socialism is not a leap into the unknown, Adler shows. Capitalist industry has built the foundations for a world beyond capitalism and its crises.

Freedom in the World 2018

Freedom House
Freedom in the World 2018 Book PDF

Author : Freedom House
Publisher : Rowman & Littlefield
Page : 1040 pages
File Size : 40,6 Mb
Release : 2019-01-31
Category : Political Science
ISBN : 9781538112038

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Freedom in the World 2018 by Freedom House Pdf

Freedom in the World is the standard-setting comparative assessment of global political rights and civil liberties. The methodology of this survey is derived in large measure from the Universal Declaration of Human Rights, and these standards are applied to all countries and territories.