Leonardo E. Stanley's Books

Emerging Market Economies and Financial Globalization

By: Leonardo E. Stanley

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Emerging Market Economies and Financial Globalization

By: Leonardo E. Stanley

In the past, foreign shocks arrived to national economies mainly through trade channels, and transmissions of such shocks took time to come into effect. However, after capital globalization, shocks spread to markets almost immediately. Despite the increasing macroeconomic dangers that the situation generated at emerging markets in the South, nobody at the North was ready to acknowledge the pro-cyclicality of the financial system and the inner weakness of “decontrolled” financial innovations because they were enjoying from the “great moderation.” Monetary policy was primarily centered on price stability objectives, without considering the mounting credit and asset price booms being generated by market liquidity and the problems generated by this glut. Mainstream economists, in turn, were not majorly attracted in integrating financial factors in their models. External pressures on emerging market economies (EMEs) were not eliminated after 2008, but even increased as international capital flows augmented in relevance thereafter. Initially economic authorities accurately responded to the challenge, but unconventional monetary policies in the US began to create important spillovers in EMEs. Furthermore, in contrast to a previous surge in liquidity, funds were now transmitted to EMEs throughout the bond market. The perspective of an increase in US interest rates by the FED is generating a reversal of expectations and a sudden flight to quality. Emerging countries’ currencies began to experience higher volatility levels, and depreciation movements against a newly strong US dollar are also increasingly observed. Consequently, there are increasing doubts that the “unexpected” favorable outcome observed in most EMEs at the aftermath of the Global Financial Crisis (GFC) would remain.

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260

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Anthem Press

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ISBN 10

1783086750

ISBN 13

9781783086757

Latin America Global Insertion, Energy Transition, and Sustainable Development

By: Leonardo E. Stanley

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Latin America Global Insertion, Energy Transition, and Sustainable Development

By: Leonardo E. Stanley

This Element focuses on Latin American fossil fuel producer countries and how they are dealing with the transition towards a greener energy matrix. The challenges involved are multiple and ethical in substance. In particular, a worldwide expansion in clean energies would reduce climate change, physical risks. A rapid transition, however, induces the irruption of a new (financial) risk. The energy transition, in addition, could be thought of as a new arena for political disputes. Finally, it evaluates the relevance of monetary policy and financial regulation to tackle the issue from a macro perspective. Energy transition, however, have also long-term but uncertain consequences on the national economy. Henceforth, and in order to minimize risks, a long-term, strategic vision of the challenge confronted by the region becomes mandatory. To tackle all these problems, this Element profits from contributions of different disciplines.

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Cambridge University Press

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1108896375

ISBN 13

9781108896375

Emerging Market Economies and Financial Globalization

By: Leonardo E. Stanley

Write a review Read reviews Take a Quiz Solve Book Puzzle

Emerging Market Economies and Financial Globalization

By: Leonardo E. Stanley

Average ratings

N/A

Write a review

Solve jigsaw puzzle

Age

Page Count

260

Publisher

Anthem Press

Published Date

ISBN 10

1783086750

ISBN 13

9781783086757

Book's by Leonardo E. Stanley

Emerging Market Economies and Financial Globalization

Emerging Market Economies and Financial Globalization

Latin America Global Insertion, Energy Transition, and Sustainable Development

Latin America Global Insertion, Energy Transition, and Sustainable Development

Emerging Market Economies and Financial Globalization

Emerging Market Economies and Financial Globalization

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