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This book explains why governments respond differently to macroeconomic problems and why necessary reforms are sometimes delayed until a serious financial crisis erupts. It argues that voter vulnerability to different reform strategies varies, and that these vulnerabilities influence the type and timing of governments' policy responses to economic crises. Empirical analyses at both the individual level across a broad range of countries and case studies of national policy responses to financial and economic crises in Asia and Eastern Europe support the argument.
Globalization has been a central theme in political, economic, cultural, and religious debates since the turn of the century. While some see it as a solution, others consider it the root of our problems. The intensification of cultural and military warfare, and the “West v. the Rest” mentality, fuels a deep-seated ethnocentrism. Religion, meanwhile, faces scrutiny from various fundamentalisms and grand narratives. Many modern Muslim thinkers are skeptical of globalization, perceiving it as a homogenizing force that spreads Western culture and concentrates power among a few nations. They argue that Islam promotes human oneness and provides an intellectual and spiritual framework for a mor...
This book takes stock of the major economic and political challenges advanced capitalist democracies face today. It provides a synthetic view, allowing the reader to grasp the nature of key structural transformations and their consequences in terms of the politics of change, policy outputs, and outcomes.
A large and widening gap has opened between Western democracies' international ambitions and their domestic political capacity to support them. On issues ranging from immigration and international trade to national security, new political parties on the left and the right are rejecting the core foreign policy principles that Western governments have championed for over half a century. Much of the debate over the weakening of the Western liberal order has focused on recent changes: Donald Trump's presidency, Britain's vote to leave the European Union, and the surge of nationalist sentiment in France, Germany, and other Western democracies. In Geopolitics and Democracy, Peter Trubowitz and Bri...
The book sheds new light on the history of the Eurozone crisis and provides crucial lessons for the way forward.
In Unexpected Revolutionaries, Manuela Moschella investigates the institutional transformation of central banks from the 1970s to the present. Central banks are typically regarded as conservative, politically neutral institutions that uphold conventional macroeconomic wisdom. Yet in the wake of the 2008 global financial crisis and the 2020 COVID-19 crisis, central banks have upended observer expectations by implementing largely unknown and unconventional monetary policies. Far from abiding by well-established policy playbooks, central banks now engage in practices such as providing liquidity support for a wide range of financial institutions and quantitative easing. They have even stretched ...
International capital flow and domestic financial market structures explain why some countries are more vulnerable to banking crises.
How could a small country in the middle of Europe, surrounded by much bigger countries and economic giants like Germany and France and in direct competition with North American and Asian rivals, develop world-class, cutting-edge financial markets? Swiss Finance answers this question, separating myth from reality, by explaining how Switzerland managed dramatic pressures brought to bear on its financial markets during the past two decades, perhaps none of them so great as the: · Competitive challenges caused by changes in Switzerland's banking secrecy laws and practices, · Shifting tide of new wealth generation toward Asia (e.g., China, Singapore, and South Korea), · Burdensome federal stamp and withholding taxes, and · Digitalization of the financial services industry, including cybersecurity, cryptocurrencies, smart contracts, central bank digital currencies, the FinTech revolution, and DLT applications. Swiss Finance thoroughly analyzes Swiss financial markets’ successes and challenges. It covers critical topics for practitioners and academics to fully understand this unique development in world financial markets and private wealth administration.