scholarly journals Populism versus IMF Conditionalities: Demand Management Policies in Present Regime of Globalization

2018 ◽  
Vol 04 (S1) ◽  
pp. 1
Author(s):  
Ayub Mehar ◽  
Keyword(s):  
Soviet Union ◽  
Free Trade ◽  
Global Economy ◽  
Demand Management ◽  
Governance Structure ◽  
Three Dimensions ◽  
Contemporary World ◽  
The World ◽  
Classical Economic ◽  
The Imf

The end of a bipolar regime after the collapse of the Soviet Union diverted the world economies to globalization regime, where economic freedom and liberalization were adopted as most powerful and popular philosophies of the economic welfare and development. The origination of a free trade regime, decentralization in public finance, and revival of the classical school of thought in economic policies are the natural outcomes of the global failure of centrally controlled economic planning experiences. Autonomy of the central banks, market-oriented exchange rates, convertibility of the currencies, privatization, deregulation, and free trade are the banners of classical economic thoughts in the present regime. Meanwhile, the International Monetary Fund (IMF) came into force when the world was divided into left and right arms. The IMF conditionality and recommended measures are still based on demand management mechanism where most of the advices belong to exchange rate mechanism (devaluation), increase in interest rate, increase in tax revenue, reduction in subsidies, transfer payments, so on. The core objective of this study is to review the IMF policies and practices in the contemporary world where supply-side policies and classical theories are regaining their importance in post-Soviet regime. Before any recommendation and contemplating the role of the IMF in the contemporary world, it will be appropriate to review and analyze the current practices of the IMF by three dimensions: History and cause of the creation of the IMF, its governance and financial structure, and its role in global economy and lending activities. The study suggests the change in the IMF governance structure and the coordination between World Trade Organization (WTO), World Economic Forum (WEF), and IMF policies.

6. Russia in the global economy

2020 ◽  
pp. 90-103
Author(s):  
Richard Connolly
Keyword(s):  
Soviet Union ◽  
Global Economy ◽  
World Economy ◽  
Software Industry ◽  
Large Country ◽  
Strong State ◽  
The Soviet Union ◽  
The World ◽  
Gulf States

While Russia has not fully diversified, it has a stronger presence in the software industry, is one of the world’s biggest exporters of diamonds, and its substantial wheat exports demonstrate increased stability since the days of the Soviet Union. ‘Russia in the global economy’ looks at Russia’s landscape, reminding us that while Moscow resembles other glamorous urban centres, great swathes of this large country are off-grid. When Russia has succeeded financially, the world economy has historically been healthy. Will another downturn in the markets impact Russia? Looking at the success of China and the Gulf States, is a strong state always a barrier to business?

Sharing globalisation gains would encourage free trade

2016 ◽  
Keyword(s):  
Free Trade ◽  
World Bank ◽  
Economic Incentives ◽  
Global Trade ◽  
Structural Factors ◽  
Content Type ◽  
The World Bank ◽  
The World ◽  
Ethnic Factors ◽  
The Imf

Subject The October annual meetings of the IMF and the World Bank devoted attention to ailing (or even failing) globalisation. Significance Global trade growth has slowed recently, and although much of this slowdown has been due to structural factors, greater protectionism has also played a part. These factors will persist and the world will gradually adjust to a 'new normal' for global trade. The IMF, along with other multilateral agencies such as the OECD, are studying rising inequality and other factors thought to be driving the protectionist trend in order to consider ways in which gains from trade can be shared more equally in coming years. Impacts Globalisation benefits have been uneven but the benefits of moving to less free trade are likely to be no more equal. Setting policy to reinvigorate trade requires not only economic incentives to be considered, but also social, regional and ethnic factors. Technology will continue to lower transportation and communication costs, putting pressure on labour markets; robotics will add to this.

scholarly journals Public Policies in Favelas and the Production of Urban Inequalities in Rio De Janeiro

2020 ◽  
pp. 11-19
Author(s):  
Neiva Vieira Da Cunha
Keyword(s):  
Social Order ◽  
Social Vulnerability ◽  
Social Life ◽  
Global Economy ◽  
Contemporary World ◽  
The Past ◽  
The World ◽  
Political Choices ◽  
Harmful Effects ◽  
New Inequalities

In the past three decades, we have witnessed the worldwide development of new economic dynamics that have intensified the most perverse and harmful effects of globalization processes. The global economy has increasingly produced intense social vulnerability and has driven a large number of people out of the center of the economic and social order (Sassen, 2016). This economic model responds to a logic of financialization of all domains of social life, imposed by different political choices and decisions that result in the degradation of working conditions and the increase of precariousness and insecurity throughout the world (Harvey, 1985). These consequences are not new and have already been described and analyzed by authors such as Serge Paugam (1991), Robert Castel (1995), and Didier Fassin (1996), among others. However, as Saskia Sassen (2016) points out, in a broader sense, this logic of financialization and production of new inequalities underway in the contemporary world can be seen as a more profound systemic underlying tendency that articulates realities that unite us. They often seem disconnected, and their modes of action, which can be characterized by their complexity, may include different dynamics and even coexist with economic growth.

International Labour Office. World Employment Report 1998-99. Employability in the Global Economy: How Training Matters. Geneva: ILO. 248pp.Paperback. Price US$34.95.

1998 ◽  
Vol 37 (2) ◽  
pp. 191-192 ◽  
Author(s):  
Mir Annice Mahmood
Keyword(s):  
Soviet Union ◽  
Former Soviet Union ◽  
Global Economy ◽  
Western Europe ◽  
Far East ◽  
Economic Losses ◽  
Political Issue ◽  
Global Workforce ◽  
The World ◽  
National Economies

Statistics reveal that some one billion employable workers are unemployed— almost 33 percent of the total global workforce. Unemployment has therefore come to be a significant political issue in Western Europe, the developing world, and the former ‘tiger’ economies of the Far East and South East Asia. Former Soviet Union and Eastern Europe, undergoing a process of structural reform, have also significant populations that are in search of employment. The world outlook for employment is therefore very grim. Such high levels of unemployment cause major economic losses not only to national economies but also to the world economy by reducing growth rates, thereby further adding to the problem of unemployment, a vicious cycle indeed. The rise of unemployment levels requires radical new measures that need to be put in place if this problem is to be tackled effectively at the national and international levels.

scholarly journals UKRAINE AND THE IMF: BASIC ASPECTS OF COOPERATION

2019 ◽  
Vol 2019 (5) ◽  
pp. 6-18
Author(s):  
Oleksandr PETRYK ◽  
Keyword(s):  
Global Economy ◽  
World Economy ◽  
Technical Assistance ◽  
Financial Assistance ◽  
Economic Research ◽  
Credit Line ◽  
Monetary System ◽  
The World ◽  
The Right ◽  
The Imf

Since the foundation of International Monetary Fund in 1944, this organization has evolved with the development of the global economy. Nevertheless, its mission remained unchanged – to ensure the stability of the world monetary system. Such a monetary system would allow countries to follow a single standard and would contribute to world trade, economic growth and rising of living standards across nations. The IMF has three main functions: supervision and monitoring of the global economy and the economies of member countries (surveillance); providing financial assistance to member countries (lending); economic research and technical assistance to member countries (capacity development). The financial resources of the Fund are based on financial contributions (quotas of each member state) and determined by the relative position of the country in the world economy. The size of the quota determines the right to vote or the weight of the country’s vote in the decision-making process of the IMF. Today the Fund’s programs have considerably expanded and are in line with the world economy needs. The main IMF financial assistance programs are: – Loan agreement “stand-by” (SBA); – Extended Lending Facility (EFF); – Flexible Credit Line (FCL); – the Precautionary and Liquidity Line (PLL); – Rapid Financing Instrument (RFI). In October 2018, the IMF and Ukrainian authorities announced the launch of a new SBA program, which should replace the existing program. However, to start the program, the Parliament had to approve the budget within the framework of the program. Other conditions were the creation of a permanent mechanism for adjusting gas prices for the population and strengthening the fight against corruption.

scholarly journals ECONOMIC SCIENCE CRISIS AS A REFLECTION OF THE WORLD ECONOMIC CRISIS. AKNOWLEDGMENT AND APPROACHES

2018 ◽  
pp. 97-104
Author(s):  
MEDEA SHAPATAVA
Keyword(s):  
Economic Theory ◽  
Global Economy ◽  
Extreme Points ◽  
Economic Science ◽  
Investment Bank ◽  
Contemporary World ◽  
Mortgage Crisis ◽  
The World ◽  
World Economic ◽  
Pros And Cons

Contemporary world admits and analyses the destroying results and consequences of the largest-ever bankruptsy of the Lehman Brothers Investment bank which lead to the mortgage crisis and turned into the global one. The recession continues up to present, i.e. almost for ten years. Leading economists forecast the further negative issues and confess that the economic figures would never go back to the ones we had back ten years ago. The extreme points of consideration the recession and the crisis issues are in contradiction with the economic theory which predicts further recession though may never provide consistent and exact figures and dates. The reflection of the crisis onto the economic theory and science may provide further materials for discussions and arguments against existence of the crisis, as the global economy development never interrupted. Moreover, the world faced the birth of an absolutely new and enigmatic product on the market – cryptocurrency. The question is: would the cryptocurrency bring the relief in terms of recession or would it lead to a new default of the market? The economic science estimates the pros and cons of the existing risks and market threats and hopefully will play its substantial role in eliminating them.

scholarly journals IMPLIKASI GLOBALISASI EKONOMI DAN PERDAGANGAN BEBAS TERHADAP STABILITAS NILAI RUPIAH

Asy-Syari ah ◽  
2015 ◽  
Vol 17 (2) ◽  
Author(s):  
Herlan Firmansyah ◽  
Endang Hendra
Keyword(s):  
Exchange Rate ◽  
Free Trade ◽  
Global Economy ◽  
Aggregate Demand ◽  
Economic Globalization ◽  
Demand And Supply ◽  
Independent Variables ◽  
Dependent Variables ◽  
The World ◽  
International Transactions

Economic globalization has become a difficult international agenda inevitable by all countries in the world. As well as accelerator movement derivative program of economic globalization, developing free trade (free trade) that has gradually been implemented in most specific regions in the world. For example, NAFTA program that has been effective since January 1, 1994, CAFTA has been in effect as of January 1, 2010 and MEAs will soon be put into effect from December 31, 2015. The goal ultimately is the realization of free trade world as the embodiment of a large agenda that no other is economic globalization. The implication, will materialize inter­de­pendent global economy (interdependent) between countries in the world. Including the interdependence of the external value of a country's currency as a unit of account, medium of exchange and store of Value on goods traded within the International transactions. The external value of the currency or commonly known as the exchange rate (exchange rate) is formed as a result of interaction between aggregate demand (aggregate demand) and supply aggregate (aggregate supply) in the money market. Thus, the phenomenon of economic globalization and free trade world that nowadays more and stronger will be the independent variables that can affect currency values of variables as dependent variables of aggregate demand side.

scholarly journals Declaring the Global Economy a Status Confessionis?

2019 ◽  
Vol 84 (2) ◽  
pp. 194-219
Author(s):  
Menno R. Kamminga
Keyword(s):  
Global Economy ◽  
World Economy ◽  
Economic Order ◽  
Original Position ◽  
Contemporary World ◽  
Thomas Pogge ◽  
The World ◽  
Economic Foundation ◽  
Negative Duty

This article revisits theologian Ulrich Duchrow’s three-decade-old use of the Protestant notion of status confessionis to denounce the capitalist global economy. Scholars quickly dismissed Duchrow’s argument; however, philosopher Thomas Pogge has developed a remarkable “negative duty”—based critique of the current global economic order that might help revitalize Duchrow’s position. The article argues that sound reasons exist for the churches to declare the contemporary world economy a—provisionally termed—status confessionis minor. After explaining the inadequacy of Duchrow’s original position and summarizing Pogge’s account, the article develops a twofold argument. First, Pogge’s in-depth inquiry into the world economy gives Duchrow’s call for a status confessionis a strong yet narrowing economic foundation. Second, to declare the world economy a status confessionis minor is theological-ethically justifiable if the limited though indispensable “prophetic” significance of doing so is acknowledged. Thus, Duchrow’s approach is justified, but only partially.

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