In April 2012, at the White House on her first visit to the United States since her election in 2010, Brazilian president Dilma Rousseff scolded advanced capitalist economies for unleashing a ‘tsunami de liquidez’,a ‘liquidity tsunami’, onto the developing world. The expression liquidity [...]
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Recent transformations in the global economy have sparked renewed interest in the role of the state in capital accumulation. Such transformations include a ‘return’ to various forms of state-led development across the global South since the early 2000s (in China, Russia, and other large [...]
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In a previous contribution to this blog, I have made the case for thinking politically about capital controls. This is particularly important, I argued, because on one hand, capital controls tend to be portrayed even by progressive economists as ready-made, neutral, technical measures, [...]
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In 2011, IMF Managing Director Christine Lagarde praised Brazil for finding the ‘enviable sweet spot’ between sustained growth and reduced external vulnerability, allowing it to become ‘one of the world’s leading emerging markets’. This statement reflected the enthusiasm of the international [...]
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The recent global financial crisis sparked renewed debates, both within academia and policy-making circles, about regulating highly mobile cross-border money-capital flows. A particular type of policy tool has received considerable attention: capital controls (CC). Within mainstream [...]
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Over the past thirty years or so, global financial market integration and financial (re)regulation have largely contributed to the increased vulnerability of Developing and Emerging Capitalist Countries (DECC) to the volatile cross-border movement of money and capital. Repeated financial [...]
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