Financial Crisis Management and Democracy

Financial Crisis Management and Democracy

Author: Bettina De Souza Guilherme

Publisher: Springer Nature

Published: 2020-12-09

Total Pages: 372

ISBN-13: 3030548953

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This open access book discusses financial crisis management and policy in Europe and Latin America, with a special focus on equity and democracy. Based on a three-year research project by the Jean Monnet Network, this volume takes an interdisciplinary, comparative approach, analyzing both the role and impact of the EU and regional organizations in Latin America on crisis management as well as the consequences of crisis on the process of European integration and on Latin America’s regionalism. The book begins with a theoretical introduction, exploring the effects of the paradigm change on economic policies in Europe and in Latin America and analyzing key systemic aspects of the unsustainability of the present economic system explaining the global crises and their interconnections. The following chapters are divided into sections. The second section explores aspects of regional governance and how the economic and financial crises were managed on a macro level in Europe and Latin America. The third and fourth sections use case studies to drill down to the impact of the crises at the national and regional levels, including the emergence of political polarization and rise in populism in both areas. The last section presents proposals for reform, including the transition from finance capitalism to a sustainable real capitalism in both regions and at the inter-regional level of EU-LAC relations.The volume concludes with an epilogue on financial crises, regionalism, and domestic adjustment by Loukas Tsoukalis, President of the Hellenic Foundation for European and Foreign Policy (ELIAMEP). Written by an international network of academics, practitioners and policy advisors, this volume will be of interest to researchers and students interested in macroeconomics, comparative regionalism, democracy, and financial crisis management as well as politicians, policy advisors, and members of national and regional organizations in the EU and Latin America.


Democratic Institutional Design

Democratic Institutional Design

Author: Brian F. Crisp

Publisher: Stanford University Press

Published: 2000

Total Pages: 308

ISBN-13: 9780804735704

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Based on the policy-making structures of Venezuelan government, this book examines the constitutionally allocated powers of the executive and legislature and shows how the powers of each branch are exercised given the incentives established by the electoral system and changing partisan strengths. Several institutional characteristics have led to a passive legislature and an activist chief executive. The advantages presidents enjoy as a result of their constitutional and partisan powers are demonstrated by a wealth of empirical evidence, including records of votes of censure, initiation of legislation, and the use of decree authority. Because of its dominance, the Venezuelan executive branch is the focus of interest-group pressure, which is institutionalized through consultative commissions and a decentralized public administration. The author analyzes memberships of more than 300 advisory commissions and governing boards, revealing the preponderance of posts filled by umbrella agencies for business and labor. The interaction of this limited version of civil society with policy makers in the executive branch has led to a highly protectionist development strategy and excessive government subsidies. The strategy and the political process that made it possible were both exhausted by the end of the 1980s. Venezuela was in political and economic crisis. The author places Venezuela in a comparative context with other Latin American states on three issues: the likelihood that executives will receive disciplined, majority support in the legislature; the constitutional powers of presidents; and the degree to which business and labor are formally incorporated through single peak associations. Participation and policy-making processes vary significantly across Latin American democracies, with few others reaching the level of centralization that has characterized Venezuela. At the other end of the spectrum, some Latin American institutional designs are characterized by diffusion and fragmentation. In conclusion, the author offers a blueprint to modify some of the counterproductive patterns associated with Venezuela, one of the longest-lived but now troubled democracies in Latin America.


Nationalism in the Era of Globalisation-Issues from Guyana and the Bahamas

Nationalism in the Era of Globalisation-Issues from Guyana and the Bahamas

Author: Silvius E. Wilson

Publisher: Xlibris Corporation

Published: 2008-02-26

Total Pages: 396

ISBN-13: 1469116596

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This book came out of the need to highlight working peoples contribution to the process of self-organization and development in the former British Guiana-hereafter referred to as Guyana-and The Bahamas. Africans and other sections of the working people in these and other countries of the Caribbean, have succeeded, through their labour and transforming genius, in building communities, and produce crops and other commodities which aided metropolitan development. Guyanese workers dug canals, constructed dams and other necessary infrastructure which made the Atlantic coast inhabitable and crops and livestock flourished in a hostile, swampy and insect infested environment. In The Bahamas working people in New Providence and the Family Islands pioneered the fishing and boat-building industries and created the infrastructure for what became the leading tourist destination in the region. Organization at the local and grassroots level played an important role in the attainment of working peoples objectives in the region-wide nationalist movement, during the 1930s, through 50s, and gave rise to major developments such as the granting of adult suffrage, trade union legislation, opening up of Crown lands, majority rule and independence. The analysis will support the position that a reflection on the lessons of the pre-independence struggle as well as revisiting the spirit of collaboration and patriotism with which working people approached the objectives of political representation, job satisfaction and national identity, can provide relevant models to inform strategies to combat challenges which are brought about by globalisation. Issues relating to regional and international collaboration as well as national response to global developments in trade, production and social organisation, can benefit from a higher level of popularity and national awareness if citizens participation at the community and other levels of society is incorporated in the national discourse and response strategy. The title: Nationalism in the era of Globalisation. intends to draw attention to the new nationalism which is informing the new role of the nation state in which central governments are gradually assuming the role of facilitator in creating an enabling environment for the growth of the private sector as well as protect investors; guard against public sector inefficiency, corruption and waste; facilitate sound macroeconomic management that encourages economic growth and maintains price stability; in the process, embrace democratic values, respect diversity and open social spaces for peoples participation. Part of the role of government is also establish the structures and monitoring devices in order to avoid or reduce the severity of economic shocks in an era of increasing liberalization. One manifestation of this in the emergence of a complex terrain of bilateral and multilateral arrangements between and among nations of the Americas. Smaller states are seeking affiliation and membership within regional groupings such as NAFTA and MERCOSUR to secure the best trade deals and access to a wider market under the most favourable terms. Larger states such as Venezuela and Brazil are presenting their own vision of a Free Trade Area. Such a vision is based on sustainability, the eradication of poverty and empowerment of the masses. In this tradition some states in the Caribbean and South America have challenged the hegemony of the USA in a Washington-initiated model of the proposed Free Trade Area of the Americas [FTAA] and proposing instead a more progressive model based upon the recognition of several centres of influence within the grouping. These developments are addressed in the book within the context of the way in which national and regional response must be channeled to influence the course of events-including the role and guiding principles of the World Trade Organization [WTO], the United Nations [UN] and other Internationa


The Paradox of Plenty

The Paradox of Plenty

Author: Terry Lynn Karl

Publisher: Univ of California Press

Published: 1997-10-10

Total Pages: 364

ISBN-13: 9780520918696

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The Paradox of Plenty explains why, in the midst of two massive oil booms in the 1970s, oil-exporting governments as different as Venezuela, Iran, Nigeria, Algeria, and Indonesia chose common development paths and suffered similarly disappointing outcomes. Meticulously documented and theoretically innovative, this book illuminates the manifold factors—economic, political, and social—that determine the nature of the oil state, from the coherence of public bureaucracies, to the degree of centralization, to patterns of policy-making. Karl contends that oil countries, while seemingly disparate, are characterized by similar social classes and patterns of collective action. In these countries, dependence on petroleum leads to disproportionate fiscal reliance on petrodollars and public spending, at the expense of statecraft. Oil booms, which create the illusion of prosperity and development, actually destabilize regimes by reinforcing oil-based interests and further weakening state capacity. Karl's incisive investigation unites structural and choice-based approaches by illuminating how decisions of policymakers are embedded in institutions interacting with domestic and international markets. This approach—which Karl dubs "structured contingency"—uses a state's leading sector as the starting point for identifying a range of decision-making choices, and ends by examining the dynamics of the state itself.


The Magical State

The Magical State

Author: Fernando Coronil

Publisher: University of Chicago Press

Published: 1997-11-10

Total Pages: 480

ISBN-13: 9780226116013

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In 1935, after the death of dictator General Juan Vicente Gómez, Venezuela consolidated its position as the world's major oil exporter and began to establish what today is South America's longest-lasting democratic regime. Endowed with the power of state oil wealth, successive presidents appeared as transcendent figures who could magically transform Venezuela into a modern nation. During the 1974-78 oil boom, dazzling development projects promised finally to effect this transformation. Yet now the state must struggle to appease its foreign creditors, counter a declining economy, and contain a discontented citizenry. In critical dialogue with contemporary social theory, Fernando Coronil examines key transformations in Venezuela's polity, culture, and economy, recasting theories of development and highlighting the relevance of these processes for other postcolonial nations. The result is a timely and compelling historical ethnography of political power at the cutting edge of interdisciplinary reflections on modernity and the state.


World Development Report 2009

World Development Report 2009

Author: World Bank

Publisher: World Bank Publications

Published: 2008-11-04

Total Pages: 410

ISBN-13: 082137608X

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Rising densities of human settlements, migration and transport to reduce distances to market, and specialization and trade facilitated by fewer international divisions are central to economic development. The transformations along these three dimensions density, distance, and division are most noticeable in North America, Western Europe, and Japan, but countries in Asia and Eastern Europe are changing in ways similar in scope and speed. 'World Development Report 2009: Reshaping Economic Geography' concludes that these spatial transformations are essential, and should be encouraged. The conclusion is not without controversy. Slum-dwellers now number a billion, but the rush to cities continues. Globalization is believed to benefit many, but not the billion people living in lagging areas of developing nations. High poverty and mortality persist among the world's 'bottom billion', while others grow wealthier and live longer lives. Concern for these three billion often comes with the prescription that growth must be made spatially balanced. The WDR has a different message: economic growth is seldom balanced, and efforts to spread it out prematurely will jeopardize progress. The Report: documents how production becomes more concentrated spatially as economies grow. proposes economic integration as the principle for promoting successful spatial transformations. revisits the debates on urbanization, territorial development, and regional integration and shows how today's developers can reshape economic geography.


The Long Shadow of Informality

The Long Shadow of Informality

Author: Franziska Ohnsorge

Publisher: World Bank Publications

Published: 2022-02-09

Total Pages: 397

ISBN-13: 1464817545

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A large percentage of workers and firms operate in the informal economy, outside the line of sight of governments in emerging market and developing economies. This may hold back the recovery in these economies from the deep recessions caused by the COVID-19 pandemic--unless governments adopt a broad set of policies to address the challenges of widespread informality. This study is the first comprehensive analysis of the extent of informality and its implications for a durable economic recovery and for long-term development. It finds that pervasive informality is associated with significantly weaker economic outcomes--including lower government resources to combat recessions, lower per capita incomes, greater poverty, less financial development, and weaker investment and productivity.


Gender and Populism in Latin America

Gender and Populism in Latin America

Author: Karen Kampwirth

Publisher: Penn State Press

Published: 2010-01-01

Total Pages: 272

ISBN-13: 0271037105

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"Analyzes populist movements in Argentina, Bolivia, Brazil, Ecuador, Mexico, Nicaragua, Peru, and Venezuela from a gender perspective. Considers the role of masculinity and femininity in populist leadership, the impact of populism on democracy and feminism, and women's critical roles as followers of these leaders"--Provided by publisher.