OXFORD UNIVERSITY PRESS

The Handbook of the Political Economy of Financial Crises

ISBN : 9780190240936

参考価格(税込): 
¥8,470
著者: 
Martin H. Wolfson; Gerald A. Epstein
関連カテゴリー
ページ
786 ページ
フォーマット
Paperback
サイズ
172 x 245 mm
刊行日
2015年07月
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印刷

The Great Financial Crisis that began in 2007 reminds us with devastating force that financial instability and crises are endemic to capitalist economies, and that it is only strong and dynamically-changing financial regulations that can keep the damage caused by these crises within bounds. The international financial system and individual national economies, including that of the United States, are suffering from the aftermath of the worst financial crisis since the Great Depression. Economists are struggling to understand the origins and implications of the crisis. The Handbook of the Political Economy of Financial Crises uses a political economy theoretical framework to analyze the crisis. After an opening chapter that describes the dimensions of the current crisis, the next section provides relevant theoretical frameworks. Subsequent sections apply these theoretical frameworks to analyze the background, dimensions, and implications of the crisis for the world economy. Leading scholars push forward our understanding of how and why our international and domestic economies are susceptible to financial breakdown and what can be done to mitigate this problem in the future. The methodology throughout applies theoretical concepts in the context of an historical and institutional understanding of the real world. By emphasizing the historical and institutional aspects of financial crises, the authors advance economic knowledge and provide insights into how we can manage our financial system to improve the lives of ordinary people.

目次: 

Introduction
1. Gerald A. Epstein and Martin H. Wolfson
PART I: THE GREAT FINANCIAL CRISIS: U.S. DYNAMICS AND EFFECTS
2. The Origins of the U.S. Financial Crisis of 2007: How a House Price Bubble, a Credit Bubble, and Regulatory Failure Caused the Greatest Economic Disaster Since the Great Depression.
Marc Jarsulic
3. Speculation and Asset Bubbles
Dean Baker
4. The Great Recession's Impact on Jobs, Wages, and Incomes
Josh Bivens and Heidi Shierholz
5. Distribution and Crisis: Reviewing Some of the Linkages
Arjun Jayadev
6. Housing Markets and Foreclosures
Rachel Drew and Christian Weller
PART II: THEORETICAL APPROACHES FOR UNDERSTANDING FINANCIAL CRISES
7. The Realism of Assumptions Does Matter: Why Keynes-Minsky Theory Must Replace Efficient Market Theory as the Guide to Financial Regulation Policy
James Crotty
8. Political Economy Approaches to Financial Crisis: Hyman Minsky's Financial Fragility Hypothesis
Jan Kregel
9. An Institutional Theory of Financial Crises
Martin H. Wolfson
10. The Anatomy of Financial and Economic Crisis
Duncan K. Foley
PART III: THE GLOBAL DIMENSIONS OF FINANCIAL CRISES
11. The Economic and Financial Crisis of 2008-2010: The International Dimension
Ajit Singh
12. Global Imbalances and the International Monetary System: Problems and Proposals
Jane D'Arista and Korkut Erturk
13. How the Full Opening of the Capital Account to Highly Liquid and Unstable Financial Markets Led Latin America to Two and a Half Cycles of 'Mania, Panic and Crash'
Jose Gabriel Palma
14. Financial and Currency Crises in Latin America
Mario Damill, Roberto Frenkel and Martin Rapetti
15. The Asian Financial Crisis, Financial Restructuring and the Problem of Contagion
C. P. Chandrasekhar and Jayati Ghosh
16. Speculation and Sovereign Debt - An Insidious Interaction
Gerald Epstein and Pierre Habbard
17. Whither the Euro? History and Crisis of Europe's Single-Currency Project
Robert Guttmann and Dominique Plihon
18. The Eurozone Crisis through the Prism of World Money
Costas Lapavitsas
PART IV: THE ROLE OF INSTITUTIONAL AND STRUCTURAL CHANGE IN THE DEVELOPMENT OF FINANCIAL CRISES
19. Changes in the Postwar Global Economy and the Roots of the Financial Crisis
David M. Kotz
20. Bank Lending and the Subprime Crisis
Gary Dymski
21. Deregulation and the New Financial Architecture
Damon Silvers
22. What We Don't Talk About When We Talk About Banking
Jennifer S. Taub
23. Derivatives in the Crisis and Financial Reform
Michael Greenberger
24. From Innovation to Financialization: How Shareholder Value Ideology is Destroying the US Economy
William Lazonick
25. Financialization and the Global Economy
Engelbert Stockhammer
26. The International Spread of Financialization
William K. Tabb
PART V: POLICY AND INSTITUTIONAL CHANGE TO LIMIT FINANCIAL CRISES
27. International and Regional Cooperation for Dealing with Financial Crises
Jose Antonio Ocampo
28. Productive Incoherence in a Time of Crisis: The IMF and the Resurrection of Capital Controls
Ilene Grabel
29. The Japanese Boom and Bust: " Lessons
Robert McCauley
30. The Role of the Federal Reserve: Lender of Last Resort
Chris Rude
31. Monetary Policy and Central Banking after the Crisis: The Implications of Rethinking Macroeconomic Theory
Thomas I. Palley
32. The Bailout of the "Too-Big-to-Fail" Banks: Never Again
Fred Moseley
33. The Savings and Loan Crisis and Bailout: Lessons for Policy
Dorene Isenberg
34. Pension Policies to Minimize Future Economic Crises
Teresa Ghilarducci
35. A Minskian Road to Financial Reform
Randall Wray
36. The Global Financial Crisis and Africa: The Effects and Policy Responses
Zuzana Brixiova and Leonce Ndikumana
37. Beyond Capitalism?
Minqi Li

著者について: 

Martin H. Wolfson is the Director of the Higgins Labor Studies Program. He teaches economics at the University of Notre Dame. Before teaching, he was an economist at the Federal Reserve Board in Washington, D.C. He is a member of the Board of Directors of the Community Forum for Economic Development, an organization that promotes social and economic equity and increased living standards of local residents.; Gerald A. Epstein is Professor of Economics and a founding Co-Director of the Political Economy Research Institute at the University of Massachusetts Amherst. He is the co-founder of SAFER, a group of economists and other analysts who participate in the debate over financial reform in the United States.

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