The Global Financial Crisis and Its Aftermath

Crisis Transmission: Global Financial Crisis

The aim of this paper is to explore, empirically, the channels of crisis transmission with regard to the Global financial crisis. EMP-based crisis proxy is used for eight countries, which include Argentina, Brazil, Canada, Indonesia, Japan, Korea, Mexico and Russia. The period considered for estimation was Q1 2001 Q2 2010. Based on the Vector AutoRegression (VAR) and Ordinary Least Squares (OLS...

Sovereign bond spread drivers in the EU market in the aftermath of the global financial crisis

Recently the world economy was confronted to the worst financial crisis since the great depression. This unprecedented crisis started in mid-2007 had a huge impact on the European government bond market. But, what are the main drivers of this “perfect storm” that since 2009 affects EU government bond market as well? To answer this question, we propose an empirical study of the determinants of t...

Is a Beautiful System Dying? A Possible Smithian Take on the Financial Crisis and its Aftermath

Bringing Politics Back In: Rethinking the Asian Financial Crisis and Its Aftermath

We now have a fairly good understanding of the economic causes of the 1977 Asian financial crisis. There is as yet, however, little understanding of the politics behind the crisis. Not only did various political systems in Asia play a significant role in fomenting the crisis, they have also demonstrated remarkable capacities in dealing with its aftermath. Nowhere is this more evident than in th...

What Are the Implications of the Global Crisis and Its Aftermath for Developing

Some major “game changers” beyond the recent economic crisis and food/fuel crisis will have an impact on the Millennium Development Goals (MDGs) to 2015 and afterwards. “Futureproofing” the MDGs is about thinking how future(s) might impact the Goals, MDG gains, costs, strategies and opportunities for faster progress on poverty reduction. Scenarios—multiple coherent and plausible futures—are a v...