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The return of a housing bubble
08 May, 2018, C.P. Chandrasekhar & Jayati Ghosh
While household balance sheets are not rid of the debt accumulated in the years preceding the 2008 crisis, there are signs that purchases financed with new debt are leading to a fresh bubble in property markets.
Is It India's Subprime?
14 February, 2017, Rohit
By presenting a comprehensive picture of the current corporate debt crisis in India, the author cautions that the situation is very similar to the one that led to the US subprime crisis.
The Persistent Global Crisis
22 September, 2011, C.P. Chandrasekhar & Jayati Ghosh
World financial leaders gather at Washington for the annual meetings of the World Bank and the IMF amid fears of another global recession. But the perspective and will needed to address the problem appear to be absent.
America's Debt-ceiling Crisis
04 August, 2011, Prabhat Patnaik
The compromise between Obama and the Republicans to end the US debt-ceiling crisis has done great damage in terms of a sharp regression in income distribution and a remarkable shift to the Right in the US, as well as an aggravation of the recession in the world economy.
The Spectre of Public Debt
21 June, 2010, C.P. Chandrasekhar
The sovereign debt crisis of Greece has led to appeals for a reduction in the size of public debt in countries worldwide. Given that increasing taxes and reducing expenditures may not be considered viable options, there would soon be strident calls for disinvestment and privatisation aimed at generating the resources needed for this.
Sovereign Default in the Core?
22 December, 2009, C.P. Chandrasekhar
The possibility of sovereign default flagged in by Dubai World together with the changed distribution of sovereign debt globally has created a new context: it is not governments of poor developing countries that are now the principal source of danger, but the metropolitan centres of capitalism.
Global Finance Today: Deja Vu?
15 June, 2007, C.P. Chandrasekhar
The nature of financial integration of developing countries with their developed counterparts has been radically transformed over the last four years. Evidence collated by the World Bank's annual report for 2007 on Global Development Finance, reveal a number of features of the new scenario that have far-reaching implications.
Appreciating Argentina
06 March, 2006, Jayati Ghosh
It used to be called the ''Paris of the South'' - and there is no doubt that Buenos Aires is a beautiful city with a very European feel. To the outside observer, it does not even appear to be in a developing country, not least because the resident population is almost completely dominated by relatively recent European migrants of the past century and a half.
Neoliberalism, Investment and Growth in Latin America
28 October, 2003,
Despite the relatively poor growth record of the era of corporate globalisation, there are many who continue to believe that corporate globalisation and greater liberalisation of economic policies do deliver higher investment and more economic growth, even if there are other less benign effects - such as greater inequality or inadequate "social sector" expenditure which then need to be separately addressed.
Another Week, Another Crisis but Why Worry ?
11 November, 2000, Jayati Ghosh
The unfolding and devastating financial crisis in Argentina is a terrifying example of how a country can be led by multilateral institutions and financial interests into economic policies that eventually culminate in disaster, and then be abandoned by these very players when the crisis breaks.
Reform, Resistance and Repression
29 January, 2000, Jayati Ghosh
Ecuador could be described as the quintessential banana republic. As a matter of fact, bananas themselves actually account for around a quarter of the country's exports, even more than petroleum. The United States dominates the economy of Ecuador, through the control of U.S.-based multinational companies on all major aspects of production and trade.

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