Skip to Main Content
This course analyzes the nature and effects of financial arrangements on economies operating in an international context. To be more specific, the course studies the effects of domestic and international banking, finance, foreign direct investment and macroeconomic policy and institutions on capital accumulation, unemployment, inflation, income distribution and international balance of power. It will also study the keystone international financial institutions at both regional and global levels such as World Bank, IMF, ADB, and AIIB. It then talks about the evolution and future prospect of the global financial system.
The book examines how old mindsets, market fundamentalism, loose monetary policy, carry trade, lax supervision, greed, cronyism, and financial engineering caused both the Asian crisis of the late 1990s and the current global crisis of 2007-2009. Beginning with a quick timeline for the Asian crisis, the book looks at the role of Japan in the East Asian crisis, and examines the evolution of the East Asian mindset. The book also examines the individual country cases, starting with Thailand and ending with China, the emerging giant, and the emergence of the current crisis.
This book expands on the history of financial crisis over the last 400 years, mainly focusing on the western Europe and the North America. In this sixth edition, which appears in the wake of the global financial crisis of 2008, an emphasis is placed on the likelihood that the roughly concurrent credit bubbles in a number of different countries are interrelated events, possibly responses to a common disturbance. The book shows how these events are transmitted internationally through current account imbalances in a world in which capital moves easily across borders.
