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Exigency Politics or New World Order?

Author

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  • Miroslava Filipović

    () (Faculty of European Legal and Political Studies, Sremska Kamenica, Serbia)

Abstract

Since the onset of the current crisis, numerous intergovernmental organizations made declarations and plans, but only national packages were implemented to minimize adverse effects to real (national) economies. Despite the fact that capital markets have long ago become increasingly complex with a multitude of actors, a state-level approach remains firmly in place. This paper aims to present political responses to the crisis, identifying how politicians envision the future of capital markets and the world economy. The financial crisis might have been a direct motive to start a global political interplay regarding regulation, but it was also a unique opportunity for numerous actors to start pressing for their own agenda vis-Ã -vis the global economic and political order. Reviewing the responses of several of the most prominent actors on the scene may contribute to understanding how close the world is to having a new financial - or even economic - structure on the global level.

Suggested Citation

  • Miroslava Filipović, 2011. " Exigency Politics or New World Order?," Panoeconomicus, Savez ekonomista Vojvodine, Novi Sad, Serbia, vol. 58(3), pages 373-391, September.
  • Handle: RePEc:voj:journl:v:58:y:2011:i:3:p:373-391
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    References listed on IDEAS

    as
    1. Shai Bernstein & Josh Lerner & Antoinette Schoar, 2013. "The Investment Strategies of Sovereign Wealth Funds," Journal of Economic Perspectives, American Economic Association, vol. 27(2), pages 219-238, Spring.
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    3. Palma, J.G., 2009. "The Revenge of the Market on the Rentiers: Why neo-liberal Reports of the end of history turned out to be premature (Updated 19 December 2011)," Cambridge Working Papers in Economics 0927, Faculty of Economics, University of Cambridge.
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    5. Reinhart, Carmen M. & Rogoff, Kenneth S., 2013. "Banking crises: An equal opportunity menace," Journal of Banking & Finance, Elsevier, vol. 37(11), pages 4557-4573.
    6. Bénédicte Vidaillet & V. D'Estaintot & P. Abécassis, 2005. "Introduction," Post-Print hal-00287137, HAL.
    7. Joshua Aizenman, 2009. "Financial Crisis and the Paradox of Under- and Over-Regulation," NBER Working Papers 15018, National Bureau of Economic Research, Inc.
    8. Robert Wade, 2009. "From global imbalances to global reorganisations," Cambridge Journal of Economics, Oxford University Press, vol. 33(4), pages 539-562, July.
    9. Ruggie, John Gerard, 1993. "Territoriality and beyond: problematizing modernity in international relations," International Organization, Cambridge University Press, vol. 47(01), pages 139-174, December.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    Crisis; Capital markets; Regulation; Political agendas;

    JEL classification:

    • F59 - International Economics - - International Relations, National Security, and International Political Economy - - - Other
    • F02 - International Economics - - General - - - International Economic Order and Integration
    • G38 - Financial Economics - - Corporate Finance and Governance - - - Government Policy and Regulation
    • F21 - International Economics - - International Factor Movements and International Business - - - International Investment; Long-Term Capital Movements
    • F55 - International Economics - - International Relations, National Security, and International Political Economy - - - International Institutional Arrangements
    • G1 - Financial Economics - - General Financial Markets

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