Each one of the crises analysed in the previous chapters was unique in many respects. ... A Minskyan framework provides an insight into the inner mechanisms of financial fragility in crisis-hit countries, while allowing for important ...
Author: A. Nesvetailova
Fragile Finance examines financial crisis in the era of global credit. Drawing on the work of Hyman Minsky, the book discusses the global financial system over the past decade, suggesting that financial fragility stems from an explosive combination of financial innovation, over-borrowing, and progressive illiquidity of financial structures.
At the same time, devco established a Unit for Fragility and Crisis Management.56 This institutional strengthening on the topic can be seen as a new push for increased awareness within the EU of fragility issues and for further efforts ...
Author: Sonja Grimm
This book investigates the emergence, the dissemination and the reception of the notion of ‘state fragility’. It analyses the process of conceptualisation, examining how the ‘fragile states’ concept was framed by policy makers to describe reality in accordance with their priorities in the fields of development and security. Contributors investigate the instrumental use of the ‘state fragility’ label in the legitimisation of Western policy interventions in countries facing violence and profound poverty. They also emphasise the agency of actors ‘on the receiving end’, describing how the elites and governments in so-called ‘fragile states’ have incorporated and reinterpreted the concept to fit their own political agendas. A first set of articles examines the role played by the World Bank, the OECD, the European Union and the G7+ in the transnational diffusion of the concept, which is understood as a critical element in the new discourse on international aid and security. A second set of papers employs three case studies (Sudan, Indonesia and Uganda) to explore the processes of appropriation, reinterpretation and the strategic use of the ‘fragile state’ concept. This book was originally published as a special issue of Third World Quarterly.
aBdg (african development Bank group) (2009), “Ministerial Round table discussions, Panel 1: the global Financial crisis and Fragile states in africa”, the 2009 african development Bank annual Meetings, Ministerial Round table ...
Publisher: OECD Publishing
This report serves as a tool to better monitor the levels, timing and composition of resource flows to fragile states, and presents salient facts on aid flows to fragile states, the impact on fragile states of the three crises and the need for a whole-of-government response.
As of this writing, Levitsky's (2011) prediction that “Peru's democracy may endure, but so, too, will its fragility” continued to hold true. conclusion This chapter explored how the combination of state crisis and a very weak ...
Author: Samuel Handlin
Publisher: Cambridge University Press
This book develops a new political-institutional explanation of South America's 'two lefts' and the divergent fates of the region's democratic regimes.
Patterns of aid to fragile states in crisis PRE-CRISIS CRISIS POST-CRISIS TIME Emergency Aid Post-crisis development aid Gov't cap. building Civil Society Peacebuilding Pre-crisis Rebuilding/repairing development aid infrastructure ...
Publisher: OECD Publishing
More than one-third of Official Development Assistance is spent annually on fragile and conflict-affected countries. Nonetheless, aid does not always flow promptly and effectively to where it is most needed, especially in countries recovering from ...
FRAGILITY. Sri Lanka is facing the worst economic crisis in its history Sri Lanka is currently facing its worst instability since the Tamil Tiger insurgency that ran from the 1980s to the early 2000s and the worst economic crisis in its ...
Publisher: OECD Publishing
The report outlines the state of fragility in 2022, reviews current responses to it, and presents options to guide better policies for better lives in fragile contexts.
However, in the wake of the East Asian financial crisis enthusiasm has diminished (even among the international financial institutions), ... Indonesian financial struc- tures became increasingly fragile, unstable and crisis prone.
Author: Yasuyuki Matsumoto
This highly relevant study provides an incisive analysis of a critical phase in recent East Asian financial history, exploring the underlying causes of the financial crisis that struck Indonesia during the second half of 1997. Matsumoto’s extensive commercial experience in Indonesian finance during these critical years, allows him to skilfully argue that the roots of the crisis lay in the period of capital liberalization undertaken during the boom years from 1994 to 1997 which encouraged the development of fragile and unstable financial structures, involving increased corporate leverage, reliance on external debt, and the introduction of riskier and more complicated financial instruments and transactions. In-depth fieldwork data and four detailed case studies illuminate the microeconomic foundations of the crisis, showing how Indonesian capitalists sought to liquidate their Indonesian assets without losing control of their corporate empires, by taking advantage of increased access to foreign loans and complex financial re-engineering, actions which ultimately precipitated instability and crisis throughout the entire financial system. Finally, it reflects upon the policy implications of this episode, putting forward the case for comprehensive capital controls for open and developing economies until they establish appropriate financial institutions to monitor and manage the level of indebtedness and the volatility of capitalists’ behaviour.
Monetarists assume risk is accurately priced ex-ante, whereas financial-fragility does not. Financial fragility theory assumes a buildup to a crisis over the upturn, with rapid growth of debt and a 'mania' during which investors switch ...
Author: E. Philip Davis
Publisher: Oxford University Press
A guide to the theory of how default and failure of individual financial institutions can turn into a crisis for a whole financial system. The theory is related to the experience of major countries and the policy implications are discussed.
New thinking on the nature of fragility and risk shows a shift from a one-dimensional understanding of fragility towards a more holistic approach in which degrees of fragility exist on a spectrum.
Author: Organisation for Economic Co-operation and Development
New thinking on the nature of fragility and risk shows a shift from a one-dimensional understanding of fragility towards a more holistic approach in which degrees of fragility exist on a spectrum. This approach recognises the need for collaborative, regional and global solutions to tackle the root causes - and that acknowledges the need to broaden the use of institutional influences, policy levers and expertise "beyond aid". In parallel, many development co-operation agencies are working to meet commitments under the newly agreed Sustainable Development Goals, the Paris Agreement on climate change, and the Addis Ababa Action Agenda on financing sustainable development. In this context, the OECD Development Assistance Committee (DAC) commissioned a study on how to work more effectively in fragile, at-risk and crisis-affected contexts. This report identifies 12 lessons grouped into 3 thematic areas: building institutional fitness, aspiring to deliver change, and leaving no-one behind. These lessons are illustrated with a wealth of good practice examples from DAC members.