What Global Economic Crisis?

Economics has become an excessively esoteric discipline. Opportunities to bridge the gap between theorizing and policymaking are becoming increasingly limited. One issue of great importance to modern policymakers is the relationship between globalization and economic crisis. With unprecedented trends towards globalization (in part propelled by developments in information technology), the repercussions of economic crisis are more profound than ever before, particularly for developing countries. What Global Economic Crisis? bridges the gap between theory and policy by examining the destabilising effects of financial crises on economic growth, stability and development. It also presents some innovative ideas intended to inform the design of institutions able to foster more effective international policy coordination.

Table of Contents:
Foreword: G.C.Harcourt Notes on the Contributors Introduction: P.Arestis , M.Baddeley & J.McCombie If Markets are Efficient, What Have There Been So Many International Crises Since the 1970s?; P.Davidson Reforming the International Financial Architecture: An Asian Perspective; M.G.Quibria & J.A.Quitazol An Agenda for a New Bretton Woods; J.Grieve Smith Will the Euro Bring Economic Crisis to Europe?; P.Arestis & M.Sawyer Globalization, the Distribution of Power, and Full Employment; J.Cornwall & W.Cornwall Competition Policy, Development, and Developing Countries; A.Singh & R.Dhumale A Brazilian-style Ponzi: How to Create a Financial Crisis by Trying to Avoid One; G.Palma Technology and Growth: Between Regionalism and Globalisation; P.Petit The Keynesian Micro-Foundations of the Business Cycle: Some Implications of Globalisation; P.Ormerod An Historical Perspective on Speculative Bubbles and Financial Crises: Tulipmania and the South Sea Bubble; M.Baddeley & J.McCombie John Cornwall: AnAppreciation; M.Setterfield Index

About the Author :
JOHN CORNWALL McCullough Emeritus Professor of Economics, Dalhousie University, Halifax, Canada WENDY CORNWALL Professor of Economics, Mount Saint Vincent University, Halifax, Canada PAUL DAVIDSON Holly Chair of Excellence in Political Economy, University of Tennessee, USA RAHUL DHUMALE Fellow, Faculty of the Judge Institute, Cambridge University, UK JOHN GRIEVE SMITH Fellow, Robinson College, Cambridge, UK GEOFF HARCOURT Emeritus Reader, History of Economic Thought, University of Cambridge, UK PAUL ORMEROD Director, Volterra Consulting Ltd., UK GABRIEL PALMA Lecturer, Faculty of Economics and Politics, Cambridge University, UK PASCAL PETIT Director of Research, National Centre for Scientific Research, CEPREMAP, Paris, France MALCOLM SAWYER Professor of Economics, University of Leeds, UK MARK SETTERFIELD Associate Professor of Economics, Trinity College, Hartford, Connecticut, USA AJIT SINGH Professor of Economics and Senior Fellow, Queens' College Cambridge, UK M.G. QUIBRIA AssistantChief Economist, Development Resource Centre, Asian Development Bank, Manila, Italy JOY A. QUITAZOL Macroeconomics Consultant, Economic and Development Resource Centre, Asian Development Bank, Philippines.