Starting from the perspective of heterodox Keynesian-Minskyian-Kindlebergian financial economics, this paper begins by highlighting a number of mechanisms that contributed to the current financial crisis. These include excess liquidity, income polarisation, conflicts between financial and...

An understanding of the spatial dimension of economic and social activity requires methods that can separate out the relationship between spatial units that is due to the effect of common factors from that which is purely spatial even in an abstract sense. The same applies to the empirical...

The Chinese government frequently threatens that meetings between its trading partners’ officials and the Dalai Lama will be met with animosity and ultimately harm trade ties with China. We run a gravity model of exports to China from 159 partner countries between 1991 and 2008 to test to...

We analyze the influence of IMF and World Bank programs on political regime transitions. We develop an extended version of Acemoglu and Robinson's [American Economic Review 91, 2001] model of political transitions to show how the anticipation of new loans from international financial...

As soon as international financial markets felt reassured in 2003 by the surprisingly neoliberal orientation of President Lula’s government, the ‘spot-the-new-Latin-tiger’ financial brigade became dazzled by Brazil — they just couldn’t have enough of it. So much so, that they had...

Latin America is a region whose critical social imagination has stalled, changing from a uniquely prolific period during the 1950s and 1960s - revolving around structuralism, 'dependency', Baran and Sweezy-type analysis of 'monopoly capitalism', French structuralism, the German Historical...

This paper quantitatively explores high-level links between power sector reforms and wider institutional reforms in the economy for a set of 27 diverse countries in rapid political and economic transition since 1990. Panel-data econometrics based on bias corrected dynamic fixed effect analysis...

The close relationship between politics and enterprises made the revolving door wide open and reinforced business influence on political decisions. This paper analyses the relationship between firm entry institutions and import competition inside the EU. Though there is a clear tendency for...

This paper examines the impact of oil revenues on the Iranian economy over the past hundred years, spanning the period 1908-2010. It is shown that although oil has been produced in Iran over a very long period, its importance in the Iranian economy was relatively small up until the early 1960s....