The purpose of this study was to examine the causal relationship among Financial Development, Trade Openness and Economic Growth in India for the period 1971-2013. The econometric methodology employed was the Cointegration and Granger Causality test. The stationarity properties of …
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The mission and mandate of economic governance and its accompanying institutional architecture requires a realignment in order to conform to the realities of the new global economy of the 21st century. Two recent economic events, one foundational and the other …
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In the last decades, the international flow of investments considerably grew. They increased dynamically until 2008, when the sudden decline occurred, being caused by the global economic crisis. It had a direct bearing on the structure and the proportions of …
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What is required today is a modern day variant of the “Keynes Plan” that was presented at Bretton Woods– but was vetoed by Harry Dexter White , the leader of the US delegation to Bretton Woods. This paper provides the …
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In the present essay we review a set of enquiries and reports that were realized and published as a result of the major financial crises of the past and of the contemporary era. These documents generally address the issue of …
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Public debt has been a widespread problem for mainstream economists have no effective procedure to deal with it and prevent its financial, economic and social negative consequences. This paper argues that the public debt is a macroeconomic phenomenon and not …
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The 2007-9 global financial crisis, the post-2009 Eurozone debt crisis, and growing inequality are reasons to critique the world financial system. More disconcerting are scientific findings that civilisation’s impacts on the environment are approaching ‘planetary boundaries’ (Steffen et al., 2015) …
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Perhaps the least-coherent aspect of Keynes’s ‘habitual modes of thought and expression’ in macro-economics is the all-pervasive and ill-considered use of the expression ‘money’. This paper starts from first macro-economic principles, and uses process re-engineering techniques in an attempt to …
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This paper is geared to show the limitations of the existing financial architecture and the emergence of what appears to be a new financial architecture with regional financial frameworks. It starts by making a brief history of the existing international …
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In December 2001 Argentina shocked the world when it declared the largest external debt default in history following its catastrophic economic and political crisis. After a decade of debt negotiations, President Fernandez de Kirchner’s government recently boasted of having converted …
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