Financial crises occur at regular and unpredictable moments in capitalist economies. However, an absence of shared theoretical approaches to and even definitions of the subject still plague the analysis of financial crises. This situation makes historical analysis even more important. This...

The paper provides an introduction to recent developments in derivatives markets and an overview of emerging research on the implications of derivatives for international business. The influence of derivatives transactions is becoming pervasive in national and international finance markets, and...

Efficiency in the context of financial markets can be defined in many ways. The major strand of finance literature measures the market's ability to process information into prices. Another strand of literature refers to the economists' usual sense of the word, i.e. that markets ensure that...

This paper combines information efficiency with the economists’ usual sense of the word “efficiency”, i.e. the allocation of resources to their most profitable expected use and at the lowest cost in terms of resources employed. The paper addresses dynamic efficiency, the ability of a...

The major strand of finance literature understands market efficiency through the market’s ability to process information into prices. Another strand of literature refers to the economists’ usual sense of the word, i.e. that markets ensure that resources are allocated to their most profitable...

This paper explores some of the processes and debates about globalisation, especially about economic and financial globalisation. It suggests that while economics has been slow to respond to its development, there are at least two ways economics can contribute to the globalisation debate. First,...

The last 7 years has seen a large number of government and semi-government reports on the changing nature of Australia's integration into the international economy. This paper explores their differences but focuses more centrally on their common premises. It is argued each starts with a...