This critical and thought-provoking book explores the causes and consequences of Europe's failed political and economic institutions. Europe's recession has created new challenges as market turmoil has shaken the foundations of the twin pillars of the new drive for European...

During the current economic crisis recurring questions on the validity of the liberal economic system have resurfaced concerning the role of the state and the free market, the proactive use of fiscal policies, economic nationalism, and environmental sustainability. However, due to the depth and...

Against the backdrop of the financial crisis that unfolded in 2008, this book deals with policy challenges going forward, focusing in particular on the ongoing catching-up process in Central, Eastern and South-Eastern European countries

This unique and fascinating book illustrates that the 'credit crunch' and the ensuing financial and economic crisis of 2007-2009 did not only strike hard at the economy in the Western world, but also at its policymakers, at economics as a scientific discipline and, more specifically, at the...

1. General introduction -- 2. A critical review of the literature on credit rationing -- 3. The theory of credit rationing revisited -- 4. Financial liberalization -- 5. Intervention I : the South Korean experience -- 6. Intervention II : the Indian experience -- 7. Concluding remarks.

This innovative book shows how new Keynesian economics has reacted to the challenges of new classical economics. It argues that new Keynesian economists have responded positively to the challenge and strengthened the analytical power of their models. The first part of the book offers a critical...

The chapters presented here provide, for the first time, a comprehensive and cutting-edge view of the subject - from both a legal and economic perspective. They start at the macro level of financial systems, moving towards the behaviours of lenders (commercial banks and micro-lenders), policy...