One of the most important elements of financial crises is the credit restriction that follows and the immediate consequences it has on investment and employment. In the post-Keynesian vision, an exit from economic crises frequently requires increased demand, specifically through public...

The central focus of this book is the relationship between money, the sphere of production, and the State. It explores how best to adapt the fundamental ideas of the circulationist perspective to achieve a better understanding of the financialisation of the production processes within...

The decisions of the Federal Reserve of the United States (Fed) determining interest rates have played a critical role in capital inflows/outflows toward Mexico and Latin America. The causal relationship that exists between the Fed and emerging markets is quite close; a clear example of this is...

During the last decades, Latin American economies have liberalized their capital accounts and their domestic capital markets and banking-financial sectors to accelerate economic growth. It was taken for granted that Latin American countries suffered from a deep scarcity of capital and an...

This article analyzes the structural reform stages in Latin American countries, the so call Washington Consensus agenda and the behaviour of the foreign investment flows. It was studied the results of the third generation reforms and the changes in the structure of the financial markets, in...

This article explores how the structural arrangements under the North American Free Trade Agreement (NAFTA) have contributed to the unfolding of the financial crisis and to its international transmission. It reviews the developments over the last two decades in Canada and Mexico based on the...

Arguments for capital account liberalization are based on the presumed positive consequences on the economic growth of liberalizing economies. On the basis of those arguments, most Latin American countries have been engaged in intense domestic and international financial liberalization processes...

This paper argues that a fundamental aspect of the process of financialization is the transformation and evolution of certain key institutions. In national spaces, these include those that play essential roles in financing economic activity, such as the central bank and the commercial banking...

This topical book addresses unemployment in Europe, the wrong-headed reliance on NAIRU to formulate policy, distributional conflicts and financial factors, as well as problems faced in developing countries with respect to exchange rate policy, central banking, challenges to growth, and...

Mainstream thinking seems to support the idea that once a financial crisis <i>ends</i> everything returns to normal. At the most, some regulatory changes on capital and reserves of the banks could be required. However, to understand what really happens during financial crises and the changes in overall...