Books in the Routledge Critical Studies in Finance and Stability series

Shadow Banking is the first study to bring together the insights from financial regulators, practitioners and academics from across the social sciences. The first part traces the evolution and ongoing confusion about the meaning of `shadow banking¿. The second section draws major lessons about shadow banking as posed by the financial crisis of 2007-09, providing comparative analyses in the US and Europe, and attempts to establish why shadow banking has emerged and matured to the level of a de-facto parallel financial system. Finally, the third part goes beyond current regulatory concerns about shadow banking and explains why it is `here to stay¿.

Cycles, Growth and the Great Recession is a collection of papers that assess the nature and role of the business cycle in contemporary economies. These assessments are made in the context of the financial market instability that distinguishes the Great Recession from previous post-war slowdowns. Theorists and applied scholars in the fields of economics and mathematical economics discuss various approaches to understanding cycles and growth, and present mathematical and applied macro models to show how uncertainty shapes cycles by affecting the economic agent choice. Also included is an empirical section that investigates how the Great Recession affected households' housing wealth, labour productivity and migration decisions.

Based on detailed comparative case studies, this new volume from a leading international group of authors reveals fundamental differences in the economic and political ideology underlying the the six Anglo-Saxon 'liberal market economies' (LMEs), and how this determined their relative resilience in the face of the global financial crisis.

This book provides a comprehensive overview of the financial integration of emerging economies through an in-depth analysis of the international monetary system, how it impacts capital flows and exchange rates, and its implications for policy making.

Shadow banking - a system of credit creation outside traditional banks - lies at the very heart of the global economy. It accounts for over half of global banking assets, and represents a third of the global financial system. Although the term ''shadow banking'' only entered public discourse in 2007, the importance and scope of this system is now widely recognised by the international policy-makers. There is, however, much less consensus on the origins of the shadow banking system, what role it plays in global political economy and the optimal approach to regulating this complex segment of finance. This volume addresses these questions. Shadow Banking is the first study to bring together the insights from financial regulators, practitioners and academics from across the social sciences. The first part traces the evolution and ongoing confusion about the meaning of ''shadow banking''. The second section draws major lessons about shadow banking as posed by the financial crisis of 2007-09, providing comparative analyses in the US and Europe, and attempts to establish why shadow banking has emerged and matured to the level of a de facto parallel financial system. Finally, the third part goes beyond current regulatory concerns about shadow banking and explains why it is ''here to stay''. This volume is of great importance to political economy, banking and international political economy.

This book analyses the evolution of financialisation in Latin America and seeks to determine the causes of the economic crises that have been triggered throughout the region in recent years. The discussion includes both regional and by-country analyses to determine shared trends and particularities of the various crises in different countries.

Recurrent crisis in emerging markets and advanced economies in the last few decades have cast doubt on the ability of financial liberalization to meet the aims of sustainable economic growth and development. The increasing importance of financial markets and financial efficiency principles over economic decisions and policies since the 1980s laid down the conditions of the development process of emerging market economies.Drawing heavily on the tumultuous crises of the 1990s-2000s, Financial Development, Economic Crises and Emerging Market Economies argues that those experiences can shed light on such a crucial issue and lead economic theory and policy to go beyond the blindness of efficient free market doctrine to economic catastrophes. This book focuses on the weaknesses and irrelevance of financialized economic structures and refers to the implications of the ongoing global crisis with regard to the financial basics of a sustainable growth and global stability. Different critical perspectives and case studies presented in this book develop arguments against financialization and market fundamentalism, which are regarded as the main pitfalls in the process of growth and development. Chapters give sound support for alternative economic and financial policies that would be able to lead banking and financial systems to accompany collectively manageable economic development. This book is of great interest to those who study political economy, development economics and monetary economics.

This book explores how the financial system should be regulated and structured to achieve the twin goals of inclusive growth and financial stability, with a focus on African low-income countries (LICs). The subject and content of this book is original in that it attempts to draw on the lessons and radical rethinking on the financial sector in developed and middle income countries, arising in the wake of the international financial crisis. It includes four in- depth country case studies, of Kenya, Ghana, Nigeria and Ethiopia, but also analyses the empirical evidence for Sub-Saharan Africa as a whole.

This collection offers a comparative overview of how financial regulations have evolved in various European countries since the introduction of the single European market in 1986. It includes a number of country studies which provides a narrative of the domestic financial regulatory structure at the beginning of the period, as well the means by which the EU Directives have been introduced into domestic legislation and the impact on the financial structure of the economy

Cycles, Growth and the Great Recession is a collection of papers that assess the nature and role of the business cycle in contemporary economies. These assessments are made in the context of the financial market instability that distinguishes the Great Recession from previous post-war slowdowns. Theorists and applied scholars in the fields of economics and mathematical economics discuss various approaches to understanding cycles and growth, and present mathematical and applied macro models to show how uncertainty shapes cycles by affecting the economic agent choice. Also included is an empirical section that investigates how the Great Recession affected households¿ housing wealth, labour productivity and migration decisions.

Based on detailed comparative case studies, this new volume from a leading international group of authors reveals fundamental differences in the economic and political ideology underlying the the six Anglo-Saxon `liberal market economies¿ (LMEs), and how this determined their relative resilience in the face of the global financial crisis.

This book, from a top group of international economists, analyzes the causes, consequences and evolution of the global financial crisis from a variety of post-Keynesian perspectives. It then presents a case for realistic and essential remedies. The book is both theoretical and applied, with a global reach and a particular focus on the European debt crisis.

Central banks are at the heart of economic policy making and their decisions have a significant impact on the social and economic well-being of citizens. This book extends the research on the political economy of central banking by focusing on the emerging economies in Asia, Africa, Latin America, and the European periphery.

Having faced a crisis in its banking sector nearly a decade earlier, Japan was a pioneer in the use of many unconventional monetary policies used during the global financial crisis of 2008-09. This book assesses measures taken by Japan and examines what they have meant for the practice of economic policy.