Global Finance and Macroeconomic Policy

This file is part of IDEAS, which uses RePEc data

Global Finance and Macroeconomic Policy

Author Info

George Argitis () (Department of Economics, University of Crete, Greece)

Additional information is available for the following registered author(s):

Georgios Argitis

Abstract

A shift away from the Keynesian, welfare-state interventionist era towards a neoliberal, market-based disciplinary order in economic policy has been taken place the last decades. This shift could be attributed to key social, political and institutional changes, which have eroded the foundations of the post-war international economic order, shaped by the Bretton Woods monetary system, and caused the formation of a new, global, financial structure of power. The revival of global finance reinforces the deflationary bias of fiscal and monetary policy and reduces the viability of relatively expansionary policies. The aim of this paper is to consider the contribution of the revival of global finance to the resurrection of neo-classical ‘orthodoxy’ in current economy policy making. Based on a growing body of literature in the field of International Political Economy, it attempts to develop a political economy framework to consider the way the ‘orthodox’ deflationary discipline that this global, financial structure of power imposes on macroeconomic policy and especially of monetary policy works under certain conditions.

Download Info
To download:

If you experience problems downloading a file, check if you have the proper application to view it first. Information about this may be contained in the File-Format links below. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.

Publisher Info
Paper provided by University of Crete, Department of Economics in its series Working Papers with number 0308.

Download reference. The following formats are available: HTML (with abstract), plain text (with abstract), BibTeX, RIS (EndNote, RefMan, ProCite), ReDIF
Length: 30 pages
Date of creation:
Date of revision:
Handle: RePEc:crt:wpaper:0308

Contact details of provider:
Postal: Gallos - Rethymno 74100
Phone: +30 831 77405
Fax: +30 831 77406
Web page: http://economics.soc.uoc.gr/
More information through EDIRC

For technical questions regarding this item, or to correct its listing, contact: (Kostis Pigounakis).

Find related papers by JEL classification:
B15 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - Historical; Institutional
B22 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Macroeconomics
E12 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Keynes; Keynesian; Post-Keynesian
G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation

This paper has been announced in the following NEP Reports:

NEP-ALL-2006-11-18 (All new papers)
NEP-MAC-2006-11-18 (Macroeconomics)

Statistics

Access and download statistics

Did you know? IDEAS uses the data collected within the RePEc project, the largest online bibliographic database in Economics.

This page was last updated on 2010-1-7.

This information is provided to you by IDEAS at the Department of Economics, College of Liberal Arts and Sciences, University of Connecticut using RePEc data on a server sponsored by the Society for Economic Dynamics.