Asset Bubbles, Financial Crises, and the Responses from the Public, Politicians, and Regulators

2011 ◽  
Author(s):  
Natalie Schoon
Keyword(s):  
Financial Crises ◽  
The Public ◽  
Asset Bubbles

scholarly journals Regulating Private Higher Education in South Africa

2015 ◽  
Author(s):  
Chika Sehoole
Keyword(s):  
Higher Education ◽  
South Africa ◽  
Financial Crises ◽  
Global Financial Crisis ◽  
Private Higher Education ◽  
Private Companies ◽  
The Public ◽  
The Government ◽  
Laws And Policies ◽  
The Global Financial Crisis

This article makes case of how South Africa has been able to use its laws and policies to achieve its objectives of regulating private higher education. This happened in the context of an ascendancy of neo-liberal policies which favoured deregulation and the rolling back of the state. Through these policies the government was able to protect the public even during the global financial crisis as it had registered credible and financially sound institutions which could weather off the financial crises which affected many private companies worldwide.

scholarly journals Conjuring the spirit of multilateralism: Histories of crisis management during the ‘great credit crash’

2015 ◽  
Vol 42 (2) ◽  
pp. 227-246 ◽  
Author(s):  
AMIN SAMMAN
Keyword(s):  
Crisis Management ◽  
Financial Crises ◽  
Global Financial Crisis ◽  
Historical Narratives ◽  
The Political ◽  
Financial Instability ◽  
Historical Process ◽  
The Public ◽  
The Great Depression ◽  
Magic Trick

AbstractIn recent years, critical scholars have emphasised how the recollection of past events as traumas can both constrain and widen the political possibilities of a present. This article builds on such research by suggesting that the management of contemporary financial crises is reliant on a ritual work of repetition, wherein prior ‘crisis’ episodes are called upon to identify and authorise specific sites and modes of crisis management. In order to develop this argument, I focus on how past crises figure within the public pronouncements of four key policymaking organisations during the financial instability of 2007–9. I find that while the Great Depression does enable these organisations to reaffirm old ways of managing crises, both it and the more recent Asian crisis are also made to disclose new truths about the evolution of multilateralism as a form of governance. In so doing, I argue, these historical narratives reveal how the management of global financial crisis depends upon a kind of ‘magic trick’. Rather than a strictly rational, historical process of problem solving, contemporary crises are instead negotiated through a contingent and self-referential conjuring of crisis-histories.

scholarly journals Why China Survived the Asian Financial Crisis?

2002 ◽  
Vol 22 (2) ◽  
pp. 225-252
Author(s):  
SHALENDRA D. SHARMA
Keyword(s):  
Financial Crisis ◽  
Financial Crises ◽  
Asian Financial Crisis ◽  
Chinese Economy ◽  
Prudential Supervision ◽  
Asset Bubbles ◽  
Contagion Effects ◽  
Major Region ◽  
The Common ◽  
Complex Question

ABSTRACT The Chinese economy shows a remarkable resemblance to those of pre-crisis Thailand, Indonesia, South Korea and Malaysia - especially the asset bubbles, high reliance on banking intermediation, poor prudential supervision, and fragility of the financial system. Yet, China defied the common prediction and did not succumb to the financial crisis. What explains the China ability to withstand a major region-wide financial crisis? This study addresses this complex question, besides elaborating the reform measures China must implement to immune itself from future financial crises or its contagion effects.

The Peruvian External Debt: Problem and Prospect

1981 ◽  
Vol 23 (1) ◽  
pp. 3-28 ◽  
Author(s):  
Pedro-Pablo Kuczynski
Keyword(s):  
United States ◽  
Economic Growth ◽  
Public Sector ◽  
Financial Crises ◽  
External Debt ◽  
The United States ◽  
The Public ◽  
Export Prices ◽  
Domestic Credit ◽  
The Individual

Peru, in the period 1976-1979, along with half a dozen or so other countries occupied the center stage in the discussion of developing countries, which fact serious difficulties in meeting their external debt service and which face equally if not more serious problems of internal adjustment—especially little if any economic growth—as they try to raise themselves out of their financial crises. The countries which might be on such a problem list1 each have their own specific problems. All of them, in one way or another, have had a major fiscal problem which has absorbed the bulk of domestic credit into the public sector and created strong pressures to borrow abroad. Of course, the individual causes of the public sector problem vary. In several countries, especially those which export copper, adverse export prices since 1974 have contributed significantly to development problems. The "list" of countries will no doubt change and quite probably expand in the next year or two, especially if there is an almost inevitable recession in the United States.

scholarly journals Sweden’s Riksbank: Guardian of Monetary Integrity

2020 ◽  
pp. 111-134
Author(s):  
Johannes Lindvall
Keyword(s):  
Central Bank ◽  
Crisis Management ◽  
Financial Crises ◽  
Large Scale ◽  
Political Elites ◽  
High Status ◽  
Management Performance ◽  
The Public ◽  
Political Conflicts ◽  
Economic Policymaking

AbstractThe Riksbank, founded in 1668, is the world’s oldest central bank. It has played a central role in Swedish economic policymaking for centuries and enjoys a great deal of confidence among the public. This chapter explains how the Riksbank became what it is today: an independent and widely respected institution. The bank’s high status has emerged because Sweden’s political elites regard the delegation of policymaking authority to the central bank as a way of managing and containing potentially harmful political conflicts. The bank’s status also benefitted from its crisis management performance, navigating Sweden through two large-scale financial crises.

Book Reviews

2012 ◽  
Vol 50 (4) ◽  
pp. 1106-1109
Keyword(s):  
Financial Crises ◽  
Free Market ◽  
Historical Context ◽  
Economic Methodology ◽  
State University ◽  
Intellectual Biography ◽  
The Public ◽  
Milton Friedman ◽  
Concise Guide

Edward Nelson of Federal Reserve Board reviews, “Milton Friedman” by William Ruger and “Milton Friedman: A Concise Guide to the Ideas and Influence of the Free-Market Economist” by Eamonn Butler. The EconLit Abstract of the first reviewed work begins: “Explores Milton Friedman's intellectual contribution to libertarian and conservative economic methodology and current understanding of economic phenomena. Discusses the intellectual biography and historical context; economic and political thought; reception and influence; and contemporary relevance. Ruger is at Texas State University. Bibliography; index.” The EconLit Abstract of the second reviewed work begins: “Presents an introduction to the economic ideas and the public policy thinking of Milton Friedman. Discusses the economist who changed everything; how to end financial crises; curing inflation and unemployment; a bonfire of controls; the failure of government; the merits of markets; and freedom and equality.”

scholarly journals Some Important Characteristics of Asset Bubbles and Financial Crises

2018 ◽  
Vol 09 (07) ◽  
pp. 1137-1168
Author(s):  
Paul S. L. Yip
Keyword(s):  
Financial Crises ◽  
Asset Bubbles

scholarly journals EVOLUTION OF THE FORMATION AND DEVELOPMENT OF THE CONCEPT OF PUBLIC DEBT

2021 ◽  
Author(s):  
Nataliia Zhmurko ◽  
◽  
Olga Rudyk ◽  
Tetiana Hrynkevych ◽  
◽  
...  
Keyword(s):  
Public Debt ◽  
Financial Crises ◽  
Foreign Exchange Market ◽  
The State ◽  
Main Task ◽  
Credit System ◽  
The Public ◽  
Global Issues ◽  
The Stability ◽  
Effective Use

Globalization and the processes generated by it and the solution of the main issues for the development of the state's economy are impracticable without addressing the issues of ownership and use of funds, their expedient and effective use. World financial crises and solutions to global issues in the state induce the state to borrow, both internal and external. Since it is impossible to stop the needs of the state and the population, as well as to stop the development of the economy, and this causes the investment of significant financial resources. To solve the main tasks of the state, it is necessary to have fundamental capital investments, therefore the state objectively borrows funds and the main task is to implement the effective use of its own and borrowed funds. Due to problems with a significant shortage of funds in the state, the country has a system of state credit, which is an important component of the financial system of the state. And it is the system of state lending that is the link between the spheres of the economy and the state budget. The very existence of the public credit system led to the emergence of the public debt system. Undoubtedly, such phenomena as financial crises, inflation, an unstable situation in the foreign exchange market and especially an increase in the size of public debt, as well as an excessive amount of budget expenditures in comparison with revenues, determine the economic situation and development of our state. Today, the size of the country's public debt and the basis for repayment of this affect all areas of the state's economic system. And that is why it is important to identify problems for its management and maintenance. The stability of the economy is determined through the expedient use of debt funds and the proper servicing of public debt. The efficiency of the implementation of budgetary policy in the state and the stability of the national currency will depend on the solution of these issues. That is why the article is devoted to the study of the theoretical foundations of the formation and development of the concept of «public debt», its analysis and generalization of its interpretation by different economic schools.

scholarly journals How do income inequality and fiscal consolidation impact on banking crises? A post-Keynesian view

2021 ◽  
Vol 13 (1) ◽  
pp. 89-114
Author(s):  
Guillermo Peña
Keyword(s):  
Income Inequality ◽  
Financial Crises ◽  
Probability Model ◽  
Developed Countries ◽  
Banking Crises ◽  
Fiscal Consolidation ◽  
Policy Makers ◽  
The Public ◽  
General Terms ◽  
Policy Measures

This is the first paper in estimating a population-averaged panel logit probability model to test the importance of the interaction between deficit in the public budgeting and income inequality in banking crises, for 36 developed countries from 1961-2011. New empirical evidence is shown on whether rising inequality is linked with financial crises, corroborating theoretical expectations of post-Keynesian authors. Policy measures are provided and tested empirically: whilst in general terms higher levels of income inequality could be associated with financial crises; countries with high levels of income inequality could reduce the likelihood of a crisis better in a context of fiscal consolidation. One reason could be that governments could use this public surplus for reducing income inequality, which helps to reduce defaults and banking crises.  These results could be useful for academics, and policy-makers.

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