Financial Developments in National and International Markets

PHILIP ARESTIS is University Director of Research at the Cambridge Centre for Economics and Public Policy at University of Cambridge, UK and Professor of Economics at the Levy Economics Institute, USA. He is also Visiting Professor, University of Leeds and School of Oriental and African Studies (SOAS), University of London, UK. His research interests are in the areas of macroeconomics, monetary economics, applied econometrics, political economy and applied political economy. He has published a number of books and has contributed in the form of invited chapters to books, having published widely

• Notes on the Contributors Introduction; P.Arestis, J.Ferreiro & F.Serrano Disutility of International Debt: Analytical Results and Methodological Implications; G.Hannsgen On the Changing Nature of Currency Crises; K.Erturk Financial System Regulation; Stability versus Instability: Some Strategic Considerations; D.Cantarero & D.Ceballos The Bretton Woods Institutions Sixty Years Later: A 'Glocal' Reform Proposal; S.Rossi The Monetary Policy of the ECB and the FED: Credibility versus Confidence, a Comparative Approach; E.Le Heron & E.Carré The Case for Fiscal Policy; P.Arestis & M.Sawyer Is an Increase of the Fiscal Budget at EMU Level Desirable?; D.Furceri How Sensitive is the US Dollar to Economic Policy?; E.Karakitsos The Pattern of Inward FDI Geographical Distribution: Can Developing Countries Base their Development on these Flows?; C.Rodríguez, J.Ferreiro & C.Gómez Financial Deregulation and Capital Flows in Latin American Countries; E.Correa & G.Vidal The Impact of Multinational Banking on Domestic Banking; C.Gnos & L-P.Rochon Spanish FDI in Latin America, 1989 - 2004: A Constructivist Framework for Analysis; P.Toral Role of the International Monetary Fund in the Economic Policymaking and Growth of the Baltic Countries; U.Vaarja Index