Topic: Global Financial and Economic Crisis

Ending the Doomsday Cycle of global finance

‘Each time the system runs into problems, the Federal Reserve quickly lowers interest rates to revive it. These crises appear to be getting worse and worse.’ So begins a sobering analysis by Peter Boone and Simon Johnson in the CentrePiece, the journal of the LSE’s Centre for Economic Performance. The argument is contained in the […]

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The State of World Hunger in Graphs

This from the FAO’s ‘State of Food Insecurity in the World 2009’. Click on the graphs. After decades of improvements, the number of undernourished people (in millions) in the world has been rising rapidly since the mid 1990s.       Even as a proportion of total population, hunger started rising in the middle of […]

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The Robin Hood Tax takes off: update, arguments and counterarguments

The Robin Hood Tax campaign has certainly struck a nerve. On the one hand, huge public support (within three weeks of the launch, 300,000 views of the Bill Nighy youtube, 120,000 fans on Facebook, 30,000 signed up on email) and serious political interest (UK parliamentary launch with 80 MPs, lobby meetings with all the major parties). […]

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The gender impact of the global meltdown: 7 new papers and a video

One of the aspects which is almost invariably missing from substantive discussions on the global economic crisis (and which quite often, doesn’t even get lip service) is the gender dimension. Women and men experience crises in different ways, and are unequally affected by government responses. Often, pre-existing inequalities, which include under-representation of women at all […]

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More IMF revisionism, this time on capital controls

Another day, another IMF U turn, this time in a ‘Staff Position Note’ on capital controls by Ostry, Ghosh, Habermeier, Chamon, Qureshi, and Reinhardt (they seem to prefer writing by committee at the Fund – personally, I’m with Sartre: ‘hell is other people’). This comes hard on the heels of its recent rethink on inflation, […]

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A big rethink at the IMF, with subtitles for non-economists

The IMF is doing some very interesting (and praiseworthy) rethinking in response to the global crisis, if a new paper co-authored by its chief economist Olivier Blanchard is anything to go by. It’s written by and for economists, so it’s not exactly bedtime reading (unless you’re an insomniac), but here’s the highlights, and my attempts […]

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Natural Resources and Development Strategy after the crisis: useful (but flawed) new World Bank paper

The World Bank’s influential PREM (Poverty Reduction and Economic Management Network) team has a new series of topical notes, pulling together its research on breaking issues (they’ve obviously been reading the literature on using research for influence – rehashing existing research at the right moment for policy makers is one of the most effective forms […]

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The Robin Hood Tax campaign is launched today – check it out

I’ve blogged a few times on the momentum building behind the introduction of a Financial Transactions Tax (see here). Today it steps up a gear with the launch of international campaign calling for a ‘Robin Hood Tax’ (much more memorable!), with the full campaign repertoire – op-eds, a letter signed by 350+ economists, a dedicated website with […]

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How can the international system cope better with crises? Good new paper

Alex Evans of Global Dashboard is always interesting on risk and global institutions. His latest paper, with Bruce Jones and David Steven takes such a long view that it feels pretty cosmic. But here’s my attempt at a summary/highlights of ‘Confronting the Long Crisis of Globalization: Risk, Resilience and international Order’ (far too many syllables […]

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Can you comment on Oxfam’s analysis of the global economic crisis?

Since early 2009, Oxfam has been researching the impact of the global economic crisis on poverty and poor communities, and the way governments and others have responded. With co-authors Richard King and May Miller Dawkins, I’ve now pulled together focus group discussions and in depth interviews with 2,500 people, 11 country case studies and regional […]

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Tobin tax update: how momentum is building for a Financial Transactions Tax

The momentum behind the Financial Transactions Tax (a tiny levy of 0.005% on all financial trades would raise about $30bn a year for climate change, development and/or filling fiscal holes) continues to grow since my last post (Why has the Tobin Tax gone mainstream?). The French government, which as far back as 2003 was the […]

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(lots of ) Other worlds are possible

‘We are confronted with two alternatives: to be a demagogue or to be a realist. If, based on the law of supply and demand, I say that there is a greater demand in the world for bread than for plastic surgery; and much more for the treatment of malaria than for apparel of haute couture; […]

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