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By Philip Arestis, Malcolm Sawyer (eds.)
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Extra info for 21st Century Keynesian Economics
And Reinhart, C. (1999), ‘The twin crises: the causes of banking and balance-of-payments problems’, American Economic Review, June, pp. 473–500. Kenen, P. ). (1996), From Halifax to Lyons: What has been done about crisis management? Essays in International Finance. Princeton University: Department of Economics, October. M. (1964), The General Theory of Employment, Interest and Prices. New York: Harcourt Brace Jovanovich. Kotz, D. (1997), Revolution from Above. London: Routledge. Krugman, P. (1979), ‘A model of balance-of-payments crises’, Journal of Money, Credit, and Banking, pp.
1. Performance objectives for financial systems in developing countries Keynesian economists have attempted to articulate goals for financial systems in developing countries. I now summarize three such contributions. With regard to the goals of the domestic financial system, Chang and Grabel (2004) submit that regulation should be guided by one fundamental consideration, to wit: the domestic financial system should operate in the service of sustainable, stable and equitable economic development.
These works also discuss the recommendations of the Rey Committee (formed at Halifax) and the decisions taken at the 1996 Group of Seven Summit (in Lyons) on crisis prevention and the need for information dissemination. 6 General descriptions of these approaches draw on Goldstein, Kaminsky and Reinhart (2000). , Goldstein (1997a), Kaminsky, Lizondo and Reinhart (1997), and Kaminsky and Reinhart (2000). The description of the authors’ empirical findings is taken from Goldstein, Kaminsky and Reinhart (2000: ch.
21st Century Keynesian Economics by Philip Arestis, Malcolm Sawyer (eds.)