Global Economics Flash Cards

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Title: Global Economics
Description: DEVS
Number of Cards: 39
Save Count: 0
Author: adamnewman511
Created: 2011-12-07
Tags: econ
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    • Question
    • Answer
    • Side 3
    • Sell
    • Structured Agency
    • Stopford and Strange
    • Triangular Diplomacy
    • Bello
    • wallstreet and by association the US(triangular diplomacy) Influencing the IMF to encourage FPI's- Week 11
    • Moyo
    • cycle of Aid Corruption and Debt-gov to priv actors.
    • Lewis
    • Efficient Aid
    • Manji
    • De politicizing Aid
    • Sachs
    • Illusion of emerging markets
      -liberalization is working!
      -Deregulation is safe( hb the bubble)
    • Blowfeild
    • "Helping" on their own terms, unpunisahble
    • Soederberg
    • CSR's are fashionable
    • Cohen
    • Financial liberalization is almost always sooner or later associated with economic crisis.

      Intellectual movement towards capital control.

      Yet it remains neglected. Us continues to dominate international fincancial architecture.
      LCDs continued to be influenced , through policy conditionality by IMF, which is influenced by The us(majority of the imf is us)

      Governments are tied up with big business and big business needs global liberalization, to thrive globally.

      Private actors influencing the government, as well as the IMF.

      Wallstreet has a great influence on the government.
    • Stiglitz
    • Iceland showed that responding to the crisis by imposing capital controls could help small countries manage its impact.


      IMf now says that these interventions should be used as a last resort.

      that financial markets need regulation


      resorting to them only as a last resort is a recipe for continued instability.
    • Soederberg
    • Week 12-FRANKENSTEIN- Us now depends on finance, maintianing the status quo is in their interest, the meetings helped do that. Wall street is becoming more powerful them the states itself- Frankenstien effect. Largest financial market in the world. IMF and WB blamed it on governance. NIFA attempts" third way". which means a bit of capital regulation, The engine is still there though.
    • Strange
    • Strucutural Power-
      Every week this is the US trying to maintain its structural power
    • Jagdish Baghwat
    • week 12- IMF gets stronger from crisis, its purpose is fulfilled this way
    • Global Compact
    • Ten voluntairy codes for TNCs to abide by
      HALE- human rights, anti corruption, Labour , enviroment
    • Uruaguay Round
    • started in 86 last round of the gatt, introuced the Wto in 95
    • Non discrimination
    • one of the main princibles of the WTO- includes the most favoured nation princible and the national treatment policy
    • National Treatment Policy
    • Imports must be treated as equal to domestically produced goods
    • Most facoured nation princible
    • Every nation must be taxed equally among you imports
    • Doha round
    • 2001 WTO wants to make globalizztion more inclusive for the poor, and slash agricultural subsidies and strnegthen assistance to dev countries
    • WTO
    • TRIMS(trade related investment mearures) TRIPS(intelectual property) TPRM(Trade policy reveiw mechanism)
    • CAL
    • capital acount liberalization
    • FDI
    • foreign direct investment- Japan into east asia,80's
    • FPI
    • new foreign investors from wallstreet, invest in porfolio
    • Why the switch from FDI to FPI?
    • investment stopped because of japanese devaluation and a slow down in their economy, E.A needed way to develop, IMF suggests FPI, from CALs
    • Capital Flight
    • Caused by herd bahviour, noted in Sach's model
    • Taiwan
    • has Captial controls, escaped the crisis
    • Strange- ADHOC
    • Week 11. crisis in asia dealt with in adhoc measure , which means IMF delas with it on specific basis, normally a vote which is majority the US
    • Strange-Structural power-Credit and Finance
    • Credit and Finance-what is invested in an advanced economy is credit, this credit is created not acummalated in that way confidence is more important than actual money.
      -knowledge
      US want to maintain their strength as a primary creditor.
    • NIFA
    • new international financial architecture. -strengthen CAL-integrate more markets
    • FSF
    • government surveilance by IMF- Better informed investment- 7 voluntairy codes
    • FSB
    • early warning mechanisms-bc it was lack of information- Queen" "How come nobody could forsee it?"
    • NIFA 2
    • certain controls as second best option-
    • G20- 1999
    • blamed bad governance-
    • G20-2009
    • third way being state lead regulation-make IMF defacto crisis manager
    • Stanford
    • comparative advantage- materiality vs theory
    • Soederberg
    • Frankenstein Effect
    • Why did Global compact emerge
    • Polianyian Tensoin arrised and TNCs wanted to resolve these tensions
    • CSR
    • good for business