The Great Trade Collapse: Causes, Consequences and Prospects
Author: Richard E. Baldwin
Publisher: CEPR
Published: 2009
Total Pages: 246
ISBN-13: 1907142061
DOWNLOAD EBOOK →Author: Richard E. Baldwin
Publisher: CEPR
Published: 2009
Total Pages: 246
ISBN-13: 1907142061
DOWNLOAD EBOOK →Author: David McNally
Publisher: PM Press
Published: 2010-12-09
Total Pages: 289
ISBN-13: 1604860650
DOWNLOAD EBOOK →Global Slump analyzes the global financial meltdown as the first systemic crisis of the neoliberal stage of capitalism. It argues that—far from having ended—the crisis has ushered in a whole period of worldwide economic and political turbulence. In developing an account of the crisis as rooted in fundamental features of capitalism, Global Slump challenges the view that its source lies in financial deregulation. The book locates the recent meltdown in the intense economic restructuring that marked the recessions of the mid-1970s and early 1980s. Through this lens, it highlights the emergence of new patterns of world inequality and new centers of accumulation, particularly in East Asia, and the profound economic instabilities these produced. Global Slump offers an original account of the “financialization” of the world economy during this period, and explores the intricate connections between international financial markets and new forms of debt and dispossession, particularly in the Global South. Analyzing the massive intervention of the world’s central banks to stave off another Great Depression, Global Slump shows that, while averting a complete meltdown, this intervention also laid the basis for recurring crises for poor and working class people: job loss, increased poverty and inequality, and deep cuts to social programs. The book takes a global view of these processes, exposing the damage inflicted on countries in the Global South, as well as the intensification of racism and attacks on migrant workers. At the same time, Global Slump also traces new patterns of social and political resistance—from housing activism and education struggles, to mass strikes and protests in Martinique, Guadeloupe, France and Puerto Rico—as indicators of the potential for building anti-capitalist opposition to the damage that neoliberal capitalism is inflicting on the lives of millions.
Author: Richard E. Baldwin
Publisher:
Published: 2011-03
Total Pages: 112
ISBN-13: 9781907142239
DOWNLOAD EBOOK →The global financial crisis of 2008/9 is the Great Depression of the 21st century. For many though, the similarities stop at the Wall Street Crash as the current generation of policymakers have acted quickly to avoid the mistakes of the past. Yet the global crisis has made room for mistakes all of its own. While governments have apparently kept to their word on refraining from protectionist measures in the style of 1930s tariffs, there has been a disturbing rise in "murky protectionism." Seemingly benign, these crisis-linked policies are twisted to favour domestic firms, workers and investors. This book, first published as an eBook on VoxEU.org in March 2009, brings together leading trade policy practitioners and experts - including Australian Trade Minister Simon Crean and former Mexican President Ernesto Zedillo. Initially its aim was to advise policymakers heading in to the G20 meeting in London, but since the threat of murky protectionism persists, so too do their warnings.
Author: International Monetary Fund. Research Dept.
Publisher: International Monetary Fund
Published: 2019-10-15
Total Pages: 208
ISBN-13: 1513516175
DOWNLOAD EBOOK →Global growth is forecast at 3.0 percent for 2019, its lowest level since 2008–09 and a 0.3 percentage point downgrade from the April 2019 World Economic Outlook.
Author: Andrew J. Caldwell
Publisher: Nova Science Publishers
Published: 2010
Total Pages: 0
ISBN-13: 9781608769667
DOWNLOAD EBOOK →The U.S. trade deficit is shrinking primarily because the global financial crisis is causing U.S. exports to drop faster than U.S. imports. In today's severe global economic downturn, concerns are being raised that countries may try to improve their own trade positions in order to help domestic industries at the expense of others by imposing measures that artificially increase their exports or restrict imports. Such efforts are considered by some to be a form of "protectionism". This book develops three scenarios to approximate different dimensions of the relationship between the global economic downturn and protectionism, as well as reviewing why the U.S. trade deficit is shrinking so severely.
Author: Laurent Ferrara
Publisher: Springer
Published: 2018-06-13
Total Pages: 298
ISBN-13: 3319790757
DOWNLOAD EBOOK →This book collects selected articles addressing several currently debated issues in the field of international macroeconomics. They focus on the role of the central banks in the debate on how to come to terms with the long-term decline in productivity growth, insufficient aggregate demand, high economic uncertainty and growing inequalities following the global financial crisis. Central banks are of considerable importance in this debate since understanding the sluggishness of the recovery process as well as its implications for the natural interest rate are key to assessing output gaps and the monetary policy stance. The authors argue that a more dynamic domestic and external aggregate demand helps to raise the inflation rate, easing the constraint deriving from the zero lower bound and allowing monetary policy to depart from its current ultra-accommodative position. Beyond macroeconomic factors, the book also discusses a supportive financial environment as a precondition for the rebound of global economic activity, stressing that understanding capital flows is a prerequisite for economic-policy decisions.
Author: Cristina Constantinescu
Publisher: International Monetary Fund
Published: 2015-01-21
Total Pages: 44
ISBN-13: 1498399134
DOWNLOAD EBOOK →This paper focuses on the sluggish growth of world trade relative to income growth in recent years. The analysis uses an empirical strategy based on an error correction model to assess whether the global trade slowdown is structural or cyclical. An estimate of the relationship between trade and income in the past four decades reveals that the long-term trade elasticity rose sharply in the 1990s, but declined significantly in the 2000s even before the global financial crisis. These results suggest that trade is growing slowly not only because of slow growth of Gross Domestic Product (GDP), but also because of a structural change in the trade-GDP relationship in recent years. The available evidence suggests that the explanation may lie in the slowing pace of international vertical specialization rather than increasing protection or the changing composition of trade and GDP.
Author: Aqib Aslam
Publisher: International Monetary Fund
Published: 2017-11-15
Total Pages: 37
ISBN-13: 1484328981
DOWNLOAD EBOOK →Global trade growth has slowed since 2012 relative both to its strong historical performance and to overall economic growth. This paper aims to quantify the role of weak economic growth and changes in its decomposition in accounting for the slowdown in trade using a reduced form and a structural approach. Both analytical investigations suggest that the overall weakness in economic activity, particularly investment, has been the primary restraint on trade growth, accounting for over 80 percent of the decline in the growth of the volume of goods trade between 2012–16 and 2003–07. However, other factors are also weighing on trade in recent years, especially in emerging market and developing economies, as evidenced by the non-negligible role attributed to trade costs by the structural approach.