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020 _a9789814279734
_qprint
020 _a9789814279741
_qPDF
024 7 _a10.1355/9789814279741
_2doi
035 _a(DE-B1597)9789814279741
035 _a(DE-B1597)492459
035 _a(OCoLC)1041994628
040 _aDE-B1597
_beng
_cDE-B1597
_erda
050 4 _aHB3717 2008
_b.L56 2010
072 7 _aBUS022000
_2bisacsh
084 _aonline - DeGruyter
100 1 _aLim Mah-Hui, Michael
_eautore
245 1 0 _aNowhere to Hide :
_bThe Great Financial Crisis and Challenges for Asia /
_cMichael Lim Mah-Hui, Lim Chin.
264 1 _aSingapore :
_bISEAS Publishing,
_c[2010]
264 4 _c©2010
300 _a1 online resource (200 p.)
336 _atext
_btxt
_2rdacontent
337 _acomputer
_bc
_2rdamedia
338 _aonline resource
_bcr
_2rdacarrier
347 _atext file
_bPDF
_2rda
505 0 0 _tFrontmatter --
_tContents --
_tForeword --
_tPreface --
_tNotes --
_t1. The Power and Pitfalls of Theory --
_t2. Financial Innovations and Industry Practices --
_t3. The Financial Industry Dominates Again --
_t4. Structural Changes and Three Macroeconomic Imbalances --
_t5. Impact on Asia and Challenges Ahead --
_t6. The Three Contested Terrains --
_tBibliography --
_tIndex --
_tAbout the Authors
506 0 _arestricted access
_uhttp://purl.org/coar/access_right/c_16ec
_fonline access with authorization
_2star
520 _aThis book takes a multi-disciplinary approach to the great financial crisis of 2007-09. It combines the disciplines of economics, finance, sociology and politics to analyse the causes, consequences and challenges of the crisis. The authors propose that the causes of the crisis should be understood at three inter-related levels - the level of theory and ideology; the level of financial industry practices and malpractices; and finally the level of structural imbalances in the international economy. Above all, the book is historical and holistic in perspective. This book is an excellent read for the critical layman interested in understanding the causes that underlie the global financial crisis. The authors combine the inquisitive and critical mind of a scholar and the lucid writing style of a journalist. The book provides a perspective on the crisis that is both practical and down to earth and at the same time, rigorous and holistic. Khor Hoe Ee, Chief Economist, Abu Dhabi Council for Economic Development, and former Assistant Managing Director, Economics, Monetary Authority of Singapore The authors trace the rise of finance and its domination over the real economy, the consequences of financial innovation and deregulation for systemic fragility, and the failure of conventional economic and financial theory to analyse and anticipate the consequent dangers. Their main original contribution is to relate these Western market developments to recent trends in the East Asian region and to call for appropriate systemic reforms, not only to avoid similar future crises, but also to address other underlying development and analytical problems. K.S. Jomo, Assistant Secretary General, Department of Economic and Social Affairs, United Nations In linking wealth and income distribution to financial instability, this book makes an important point that is often missed in the debate on the crisis. Central Banks have become strongly opposed to the idea of accommodating wage demands with the help of monetary easing, but they have been increasingly tolerant, or even supportive, of debt-financed consumption and asset inflation. Indeed, by serving to concentrate wealth further in the hands of a small rentier class, while protecting that class from the risks of debt defaults, they are only adding to systemic pressures that give rise to serious financial crises.   Yilmaz Akyuz, Special Economic Advisor, South Centre, and former Chief Economist at United Nations Conference for Trade and Development
538 _aMode of access: Internet via World Wide Web.
546 _aIn English.
588 0 _aDescription based on online resource; title from PDF title page (publisher's Web site, viewed 01. Dez 2022)
650 0 _aFinancial crises
_xGovernment policy
_zAsia.
650 0 _aFinancial crises
_zAsia.
650 0 _aFinancial crises--Asia.
650 0 _aFinancial crises--Government policy--Asia.
650 0 _aGlobal Financial Crisis, 2008-2009.
650 7 _aBUSINESS & ECONOMICS / Economic Conditions.
_2bisacsh
700 1 _aChin, Lim
_eautore
700 1 _aMah-Hui, Michael Lim
_eautore
700 1 _aReddy, Yaga Venugopal
_eautore
850 _aIT-RoAPU
856 4 0 _uhttps://doi.org/10.1355/9789814279741
856 4 0 _uhttps://www.degruyter.com/isbn/9789814279741
856 4 2 _3Cover
_uhttps://www.degruyter.com/document/cover/isbn/9789814279741/original
942 _cEB
999 _c293205
_d293205