This paper seeks to explain the causes and consequences of the U.S. subprime mortgage crisis and how this has led to a generalized credit crunch in other financial sectors that ultimately affects the real economy. It postulates that despite the recent financial innovations, the financial...

The roots of the present financial crisis can be traced to the significant structural changes in the United States economy and its financial system after the 1960s. Paramount among these is the growth of the financial sector and its overshadowing of the real economy. With a slowdown in long-term...

This paper seeks to explain the causes and consequences of the U.S. subprime mortgage crisis, and how this crisis has led to a generalized credit crunch in other financial sectors that ultimately affects the real economy. It postulates that, despite the recent financial innovations, the...

Dispite robust growth, rising inequality is widespread in manu countries. At the same time financial instability and crises are occurring with greater frequency and severity. These two phenomena are related to the contest for a greater share of economic output between labor and capital, with...

type="main" xml:lang="en" <title type="main">ABSTRACT</title> <p>Despite robust growth, rising inequality is widespread in many countries. At the same time, financial instability and crises are occurring with greater frequency and severity. These two phenomena are related to the contest between labour and capital for a...</p>

This paper explores how interest rates on domestic financial assets in Mexico are linked to expectations of exchange rate changes and to perceptions about the default risks contained in Mexico`s external debt.It is shown that the interest rate differentials between peso- and U.S....

Pacific island countries face unique challenges to realizing their growth potential and raising living standards. This book discusses ongoing challenges facing Pacific island countries and policy options to address them. Regional cooperation and solutions tailored to their unique challenges, as...

This book takes a multi-disciplinary approach to the great financial crisis of 2007-09. It combines the disciplines of economics, finance, sociology and politics to analyse the causes, consequences and challenges of the crisis. The authors propose that the causes of the crisis should be...