Effects Of 2008 Crisis N Political Economy - consider
In , as the financial crisis unfolded in the United States, the banking industry elevated its lobbying and campaign spending activities. By the end of , and during , the biggest political spenders, on average, received the largest bailout packages. Is that relationship causal? In this paper, I examine the effect of political connections on the allocation of funds from the Troubled Asset Relief Program TARP to the US financial services industry during the — financial crisis. I find that TARP recipients that lobbied the government, donated to political campaigns, or whose top executives had direct connections to politics received better bailout deals. I estimate regression discontinuity design and instrumental variable models to uncover how election outcomes for politicians in close races affected the distribution of bailout funds for connected firms. The results do not imply that some banks were deliberately favored over others, just that favored banks benefited because of their proximity to the right people in power. Effects Of 2008 Crisis N Political Economy.
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Spiralling inequality since the s and the global financial crisis of have been the two most important challenges to democratic capitalism since the Great Depression. To understand the political economy of contemporary Europe and America we must, therefore, put inequality and crisis at the heart of the picture. In this innovative new textbook Mattias Vermeiren does just this, demonstrating that both the global financial crisis and the European sovereign debt crisis resulted from a mutually reinforcing but ultimately unsustainable relationship between countries with debt-led and export-led growth models, models fundamentally shaped by soaring income and wealth inequality.
He traces the emergence of these two growth models by giving a comprehensive overview, deeply informed by the comparative and international political economy literature, of recent developments in the four key domains that have shaped the dynamics of crisis and inequality: macroeconomic policy, social policy, corporate governance and financial policy. He goes on to assess the prospects for the emergence of a more egalitarian and sustainable form of democratic capitalism. This fresh and insightful overview of contemporary Western capitalism will be essential reading for all students and scholars of international and comparative political economy. Mattias Vermeiren.
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Keywords: Capitalism Macroeconomics Financial crises. Show more Show less.
It offers a clear examination of the impact of rising inequality and economic instability. This is an important book that demonstrates the vitality of the growth models approach to political economy.
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It is an invaluable service to the discipline. List of Figures, Tables and Boxes Introduction Chapter 1 Rising inequality in advanced capitalism Chapter 2 The rise and fall of egalitarian capitalism Chapter 3 Macroeconomic policy: From "full employment" to "sound money" Chapter 4 Social policy: Globalisation, deindustrialisation and liberalisation Chapter 5 Corporate governance: The rise of shareholder capitalism Chapter 6 Financial policy: Market-based banking and the global financial crisis Chapter 7 Macroeconomic imbalances link and after the crisis Chapter 8 The future of egalitarian capitalism Notes References. Iet uz iepirkumu grozu.]
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