‘Uncategorized’ Category Archives

13
Nov

A Few Informative Links

by admin in Uncategorized

 

 The day after the election Dr. E-Erian from PIMCO wrote an open letter to President Obama offering some ideas – see the open letter here: http://finance.fortune.cnn.com/2012/11/07/mohamed-el-erian/.

Here is a post by Tim Duy about the state of consumer sentiment in the US: http://economistsview.typepad.com/timduy/.

Here is a video interview with Anastasia Nesvetailova from City University London on the question why financial crises seem to occur again and again: http://www.youtube.com/watch?v=A3aWnDr5W7A.

17
Oct

Call for Papers: Shadow Banking – A European Perspective

by admin in Uncategorized

The global financial crisis of 2007-09 brought to light the existence of a complex web of financial intermediation that over the past few decades evolved parallel to the official regulated banking system.  The highly complex ways of linking borrowers with agents in the capital markets was dubbed ‘the shadow banking system’, reflecting the opaque and often invisible nodes that connect official banking and its shadow segments.  Many accounts attribute the global financial crisis to the spread of shadow banking; several years into the crisis, shadow banking still accounts for about a third of the total banking assets globally.  Recent estimations suggest that the European shadow banking system is now of similar size to the US one, having grown steadily while the US contracted.  In recognition of the systemic importance of the European shadow banking, the European Commission is actively searching for regulatory answers to preserve financial stability.

This two-day conference is set to bring together academics from various fields of the social sciences, market practitioners and policymakers.  We aim to advance an understanding of the nature, origins and impacts of shadow banking in the European context.  We invite submissions from academics, market practitioners, regulators and policymakers on the various issues related to the phenomena of shadow banking, including its historical antecendents, international dimensions, risk components and socio-political ramifications.

The following invited speakers are confirmed:  Perry Mehrling (Columbia University); Benjamin Cohen (Bank for International Settlements), Gary Dymski (Leeds Business School); Thorvald Moe (Norges Bank and Levy Institute), Brooke Masters (Financial Times).  It is envisaged that a selection of conference papers will be published as a special issue of a journal, with an introduction edited by Michel Barnier, European Commissioner for financial services.

Please send abstract (250 words) to Luigi Russi (luigi.russi.1@city.ac.uk), by November 15, 2012.  For any further details about the event, please contact Anastasia Nesvetailova(a.nesvetailova@city.ac.uk).

The workshop is supported by the Department of International Politics, City University, City Political Economy Research Centre (CITYPERC), COST action group of the EU, and is hosted by Cass Business School.  Limited financial support is available for travel and accommodation costs. 

Academic Committee:  Barbara Casu, Victoria Chick, Daniela Gabor, Anastasia Nesvetailova, Barbara Sennholz-Weinhardt.

22
Mar

What The World Can Learn From Japan

by Riaan Nel in Uncategorized

This guest post is contributed by Phillip Donavan, who writes on the subject of Online Political Science Degrees . Phillip can be reached at his email id: phillip.donavan@gmail.com

No one wants to be anywhere near Japan today – what with one disaster after another plaguing the island nation, it’s almost as if Hiroshima and Nagasaki and the atom bomb disaster has struck again. This time, it was nature’s fury as opposed to manmade destruction; even so, disaster is disaster – it changes the course of people’s lives in a split second and leaves them homeless, foodless, and this time, even without the cities and towns they once called home. The entire northeastern part of Japan has been flattened and reduced to rubble, and with the nuclear meltdown adding fuel to the fire, it seems like the perfect recipe for chaos and disorder all around.

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10
Jun

Should America emulate the French economic model?

by Riaan Nel in Uncategorized

The American version of capitalism is in disrepute worldwide after the financial crisis and resulting global recession. Many ordinary people and elites in the global political economic system blame American-style capitalism for the crisis in the world economy. American-style capitalism – also known as laissez-fair capitalism, or entrepreneurial capitalism – was for the last two decades considered the model to emulate. Countries that emulated this model were success stories in the global economy – for instance the United Kingdom and Ireland. Laissez-fair capitalism is also referred to as the so-called Anglo-Saxon model, since free-market capitalism was born on the British Isles, and the many adherents to this model are countries that were formally British Colonies.
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5
Jun

Economists foresee a slow recovery and fundamental restructuring of the US economy

by Riaan Nel in Uncategorized

In a recent Wall Street Journal survey of 52 leading economists the prediction is that the recession will end in the fall. The turnaround and recovery, however, will be very protracted and slow. The economists also see a fundamental restructuring of the US economy.
A major aspect of this restructuring is the increase in the US savings rate, which will lower consumer spending’s share of GDP. In 2006, personal consumption was 70% of GDP according to the Hoover Institution.
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