Topic: Global Financial and Economic Crisis

Deja vu, role reversal or schadenfreude? The view of Europe's crisis from Latin America

I experienced an odd and simultaneous sensation of déjà vu, role reversal and schadenfreude when reading a recent briefing from the UN Economic Commission for Latin America and the Caribbean. Here is their description of current events in Europe, under the title ‘Various countries in the Eurozone need deep adjustments to achieve the established targets […]

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A nostalgic debate on globalization and development

When did talking on the subject of ‘globalization and development’ start to feel so retro? I got that distinct sensation at a lunchtime discussion at IPPR yesterday. The trench warfare of yesteryear – on the WTO, the Doha round, trade liberalization, protectionism etc, has somehow acquired a nostalgic glow. Most odd. In the room were […]

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Is inequality the root cause of global crisis? The World Bank's lead research economist thinks so

Back from my week off (Edinburgh Festival – fab) with a load of holiday reading to review. Here’s the first installment – an eccentric new book by Branko Milanovic, inequality guru and lead economist at the World Bank’s research division. The Haves and the Have Nots: A Brief and Idiosyncratic History of Global Inequality is […]

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How can advocacy NGOs respond to the global meltdown? FP2P Flashback

OK, it’s looking ever more likely that we are heading for a European double plunge recession (double dip sounds too pleasant), so here’s some thoughts from December 2008 about how to respond. Ever since the global financial and economic meltdown broke, NGO colleagues have been debating how to respond. That debate is now focused on […]

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Emerging v Developed Countries: high speed history

This week’s Economist has a striking update on the historically breakneck shift in the global balance of economic power towards the ‘emerging economies’. It uses the IMF’s pre-1997 categories of developed and developing (now rebranded ‘emerging’) to avoid the confusion caused by the upgrading of countries to developed status as they get richer. “The combined […]

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The Globalization Paradox, a great new book from Dani Rodrik

Dani Rodrik is one of the handful of heterodox heroes, prominent economists who took on the lazy thinking of the Washington Consensus in its prime, and continue to dance productively on its grave. His latest book, The Globalization Paradox: Why Global Markets, States and Democracy Can’t Coexist, feels like a Big Book, one that may […]

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Robin Hood, Robin Hood, dum dum dum de dum: financial transaction tax update from Max Lawson

The Robin Hood Tax campaign to fund development and climate change adaptation via a small financial transactions tax (FTT) is potentially one of the campaigning success stories of recent years – an object lesson in how to seize the moment (global financial crisis and fiscal horror story in the rich countries) to promote a good […]

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Cash Transfers: what does the evidence say?

DFID, the UK’s Department for International Development, produces some really excellent research (and in case you’re wondering, our research team doesn’t see any of DFID’s research dosh, so I’m not singing for my supper here). The latest example is a really useful ‘evidence paper’ on cash transfers, summarizing a literature that is expanding at a […]

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Want to avoid financial crises? Then reduce inequality, says the IMF

What are they putting in the water at the IMF these days? Following its recent advocacy of not one, but two new global taxes, a new IMF working paper by Michael Kumhof and Romain Ranciere links inequality with financial crises. “The United States experienced two major economic crises over the past century—the Great Depression starting […]

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How is the G20 shaping up as the new global steering committee?

The G20 summit takes place in Seoul today and tomorrow, the first such gathering in a non-G8 country. I’ve been following the G20 process from a distance and it’s fascinating – here’s a few reflections. The moment: the financial crisis of 2008/9 saw the G8 publicly hand over the reins of international coordination to the G20. […]

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Is the IMF getting serious about inequality? Looks like it

Is the IMF going socialist? Hardly, but on Monday Dominique Strauss-Kahn, its Managing Director, gave a pretty extraordinary (and welcome) speech, entitled “Human Development and Wealth Distribution”. Here are a few excerpts: “Adam Smith—one of the founders of modern economics—recognized clearly that a poor distribution of wealth could undermine the free market system, noting that: […]

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What is happening on global bank taxes? Robin Hood reports from the frontline

Earlier this year, I posted a fair amount on the new Robin Hood Tax campaign for a financial transactions tax to fund aid and the fight against climate change (start here and follow the links). In a guest blog, Oxfam’s top RHT obsessive, Max Lawson, updates us on the subsequent behind-the-scenes progress “In today’s aid-speak, […]

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