Focus on Inequality Prabhat Patnaik

The World Bank and the IMF have started a new trend of late, of taking “progressive” positions in their publications even while insisting on the same old “conditionalities” in policy…

Wage and Fiscal Policies for Economic Recovery Jomo Kwame Sundaram and Anis Chowdhury

The new US census data released in late September show that 3.5 million people in the US climbed out of poverty, as the tepid economic recovery continues. Employers are finally…

Structural Change Servaas Storm

There has been a renewed interest in industrialization and structural change in the mainstream of development economics, which, however, doesn’t…

Analysis of the Main Controversies on Domestic Agricultural Supports Jacques Berthelot

CETA without Blinders: How cutting ‘trade costs and more’ will cause unemployment, inequality and welfare losses Pierre Kohler and Servaas Storm

On the occasion of the beginning of the Centenary year of the October Revolution Professor Prabhat Patnaik delivers a series of four lectures where he attempts to theoretically construct the historical journey from 1917 to the present in order to explain the kind of conjuncture in which we are placed today.

Marxist Theory and the October Revolution Prabhat Patnaik

The Leninist Conjuncture Prabhat Patnaik

Britain’s vote to leave the European Union adds to the uncertainty in the world economy and the unfolding crisis in the region will inevitably affect developing countries as well. This section presents analyses of the vote on Brexit and its implications for Britain, for the European Union and for the global economy.

Why the European Union should be Even More Worried about Brexit C.P. Chandrasekhar and Jayati Ghosh

The economic pressures that may have driven the Brexit vote are also evident in other…

The Brexit is Not Gender Neutral Gabriele Kohler

This article highlights the gendered implications of the Brexit vote- what it means for women…

What Next for the EU? Jayati Ghosh

Even before the results of the UK referendum, the European Union was facing a crisis…

After Brexit C.P. Chandrasekhar

Britain has voted to leave the European Union (EU). And the managers of global capitalism…

Brexit Earthquake has Many Ruptures Radhika Desai

The Brexit vote was a momentous political earthquake and the seismic shifts that caused it…

Brexit: A revolt against the hegemony of globalized finance Prabhat Patnaik

Almost all commentators on the British electorate’s vote to leave the European Union, whether from…

The announcement of a BRICS development bank in the context of the ongoing global economic turmoil assumes a special significance. Some perceive it as an alternative to the already discredited World Bank with its North Centric leadership resulting in a dogmatic imposition of neo-liberal conditionalities on the indebted South; many assume this as a watershed, signaling the shift in global economic governance from the traditional powerhouses of the North to the newly emerging powerhouses of the South; while others perceive it as a tool to be used by the member countries to increase their influence in their respective Southern pockets.

This section includes articles analysing the emergence of BRICS Development Bank and its possible implications for global economic governance, regional impact of the BRICS nations, and other repercussions.

Why does Brazil’s Banking Sector Need Public Banks? What should the BNDES do? Felipe Rezende

Development Finance in BRICS Countries Published by the Heinrich Boll Foundation

Banking with a Difference C.P. Chandrasekhar

The BRICS Bank Prabhat Patnaik

The BRICS Bank: Part of a new financial architecture (II) Oscar Ugarteche

The BRICS Bank: Part of a new financial architecture (I) Oscar Ugarteche

BRICS Gains Currency in Brazil Biswajit Dhar

Using the Potential of BRICS Financial Co-operation Jayati Ghosh

Following the financial crisis, much has been done for preventing systemic failure in the financial sector, stalling economic downturn and ensuring a recovery. However, the adequacy and appropriateness of the measures adopted remain questionable. As far as reforming the financial sector is concerned, despite a spate of proposals, agreement on the appropriate mix of policies and the progress with implementation have been limited. This section presents papers and articles that analyse the adequacy of various proposals and measures, the challenges that could arise at the time of implementation and advocate additional or alternative measures. Some of these papers also take a renewed look at the veracity of the arguments given for explaining the genesis of the crisis.

Further Reflections from a Reforming Indian Central Banker Andrew Cornford

Capital Account Regulations and the Trading System: A compatibility review Edited by: Kevin P. Gallagher

Capital Account Regulations and the Trading System: A compatibility review Kevin P. Gallagher

Insolvency Protection and Fairness for Greece: Implementing the Raffer Proposal Kunibert Raffer

Insolvency Protection and Fairness for Greece: Implementing the Raffer Proposal Kunibert Raffer

Society, Economic Policies, and the Financial Sector Y.V. Reddy

Using Minsky to Simplify Financial Regulation

Monetary Policy and Central Banking after the Crisis: The implications of rethinking macroeconomic theory Thomas I. Palley

New Issue Newsletter on EU Financial Reform

The Great Austerity War: What caused the deficit crisis and who should pay for it? James Crotty

Transatlantic Cooperation for Post-Crisis Financial Reform- To What End? Aldo Caldiari

Drawing Lessons from US Financial Reform Efforts: A Civil Society Perspective Aldo Caliari, Center of Concern

It is now more than two years since the sub-prime lending crisis in the US mortgage sector came to light. The unprecedented financial crisis in the developed world brought with it the end of the illusion of the market being ”efficient”. This section presents papers and articles that seek to explain the causes and consequences of the U.S. sub-prime mortgage crisis. Through a critique of the underlying structure and dynamics of deregulated finance, they analyse how this crisis led to a generalized credit crunch in other financial sectors and ultimately affected the world economy at large. There are also theoretical papers that explore the related issues, all of which provoke a fundamental rethink on financial liberalisation in order to reduce the systemic and global instability associated with it.

From Marx to Morgan Stanley: Inequality and financial crisis Michael Lim Mah-Hui and Khor Hoe Ee

The Myth of the ”Sub-prime” Crisis Prabhat Patnaik

Should Greece Follow Estonia’s Example? Rainer Kattel

Productive Incoherence in an Uncertain World: Financial governance, policy space and development after the global crisis Ilene Grabel

Financial and Monetary Issues as the Crisis Unfolds James Galbraith

The Revenge of the Market on the Rentiers: Why Neo-Liberal Reports of the End of History turned out to be Premature Jose Gabriel Palma

The Relevance of Ragnar Nurkse and Classical Development Economics Rainer kattel, Jan Kregel, Erik S, Reinert

What is Minsky All About, Anyway? Korkut Ertürk and Gökcer Özgür

A Comparison of Two Cycles in the World Economy: 1989-2007 Korkut Boratav

Recommendations of UN Expert Commission on Finance

Tools for a New Economy Robert Pollin

The Time has come: Let’s shut down the financial casino ATTAC's Statement on the Financial Crisis and Democratic Alternatives

  • Social Mobility in Latin America, Sub-Saharan Africa and Asia
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  • Prabhat Patnaik speaks on the Greek crisis and the political implications of ‘No vote’
    • Prabhat Patnaik speaks on the Greek crisis and the political implications of ‘No vote’

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Leading Members of IDEAs Visit Myanmar to present their Perspectives on the Challenges of Myanmar’s Economic Development, 25-28 August 2016.

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