The neoliberal experiment in Latin America has consumed more than a generation of enormous resources with very little economic results, disastrous social and environmental effects, and a deterioration in democratic legitimacy that will have to be recovered. A necessary, although insufficient,...

The paper provides an evaluation of the possibilities for a New Regional Financial Architecture (NRFA) in South America within the context of the "original sin." It is argued that conventional explanations of the "impossible trinity" are limited, and that once the geography of money is properly...

In this paper, the authors lay out a proposal for the institutional framework for the Banco del Sur. Considering the recent historical experiences of Latin America and the need to promote economic activity based in domestic currencies and channeled through nationally owned banks, the authors...

This paper explains the circumstances that led Dubai to the current financial crisis that still lingers. It analyses the steps taken at various stages by the city state to ameliorate the situation including the bailout help the UAE Government eventually granted. It spotlights the role...

This paper examines two theories of the 'subprime crisis' or 'GFC'. The 'financial architecture' theory holds that the failure of the financial system was fundamentally driven by institutional faults, especially in private sector risk management and public sector regulation and underpins the...

This Paper argues that the backbone of the pre-1914 international financial architecture was the concern about moral hazard. No decentralized system can leave without safeguards against free riding and this typically means that problem countries must find by themselves the means to fix their...

The international monetary system features a powerful subsystem of nations with an organized polyarchic economy—in other words, a market economy adjusted and balanced by government authorities to protect the market against forces operating within it but failing to abide by the rules (as...