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
World Bank with its
North Centric leadership
resulting in a dogmatic
imposition of neo-liberal
the indebted South;
many assume this as
a watershed, signaling
the shift in global
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
This section includes
articles analysing the
emergence of BRICS Development
Bank and its possible
implications for global
regional impact of the
BRICS nations, and other
Overview of current reform and
proposals regarding bank structure
and corporate form and bankers'
remuneration, with special references
to Daniel Tarullo and David Shirreff.
Prebisch and Economic Dynamics:
Cyclical growth and center-periphery
Esteban Pérez Caldentey
and Matías Vernengo
Paper No. 01/2014
Regulation: Potential implications
for rules for cross-border
Paper No. 03/2013
The article argues that microfinance
destroyed economic and social
policy intervention and gave impetus
to an adverse 'anti-development'
trajectory in Latin America.
'success' in reducing poverty uses a flawed system
for measuring income on the basis of an average value
based on Purchasing Power Parity and ignores food
to wider perception, the bigger risk to the multilateral
trading system comes from the developed world failing
to listen to the concerns of developing countries.
the experience of Mexico the authors argue that the
transfer of labour productivity benefits to minimum
wage workers is far from automatic or guaranteed.
dominant interests in WTO are forcing out disproportionate
gains from the Bali Package by discussing solely on
trade facilitation issues while ignoring other elements.
belligerent development debate committed to a just
global society is needed today to correct for the
gross income inequality prevailing at present.
south that was supposedly rising is now witnessing
a fall and this can be prevented only if the domestic
market is expanded through egalitarian measures of
recent ruling by the US Supreme Court in favour of
vulture capital funds on Argentina's debt restructuring
case defies both US laws and international norms.
proposed deal on trade in financial services that
has just been exposed by Wikileaks has serious implications
even for countries that are not involved in the negotiations.
de-Dollarisation attempts by Russia via the recent
trade deals with China and Iran can have major consequences,
but may be difficult to sustain due to internal pressures
pursuit of the Chinese dream may become a nightmare
for the majority as it involves reduction of expenditures
on food subsidies and other welfare measures.
author here shows that the OECD's optimistic growth
projections are questionable and the global environment
confronting the new government of India is not favourable.
this note the author defines shadow banking and then
explains its spread and drivers as well as its benefits
and risks in South-East Asia.
article discusses the causes and implications of rising
inequality, an issue which has become a global challenge.
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