Financial Developments in National and International Markets
Edited by Philip Arestis，Jesus Ferreiro and Felipe Serrano

Publisher:   Palgrave Macmillan
Number Of Pages:   261
Publication Date:   2006
ISBN-10 / ASIN:   1403996296

Contents
Notes on the Contributors vii
Introduction xi
1 The Disutility of International Debt:Analytical Results
and Methodological Implications 1
Greg Hannsgen
2 On the Changing Nature of Currency Crises 25
Korkut A.Erturk
3 Financial System Regulation Stability versus Instability:
Some Strategic Consideration 40
David Ceballos and David Cantarero
4 The Bretton Woods Institutions Sixty Years Later:
A‘Glocal’Reform Proposal 56
Sergio Rossi
5 The Monetary Policy of the ECB and the Fed:Credibility versus
Confidence,a Comparative Approach 77
Edwin Le Heron and Emmanuel Carré
6 The Case for Fiscal Policy 103
Philip Arestis and Malcolm Sawyer
7 Is an Increase of the Fiscal Budget at EMU Level Desirable?118
Davide Furceri
8 How Sensitive Is the Dollar to Economic Policy?133
Elias Karakitsos
9 The Pattern of Inward FDI Geographical Distribution:
Can Developing Countries Base Their Development
on Those Flows?149
Jesus Ferreiro,Carmen Gomez and Carlos Rodriguez
10 Financial Deregulation and Capital Flows in
Latin American Countries 165
Eugenia Correa and Gregorio Vidal
11 The Impact of Multinational
Banking on Domestic Banking 176
Claude Gnos and Louis-Philippe Rochon
v12 Spanish Foreign Direct Investment in Latin America,
1989–2004:A Constructivist Framework for Analysis 190
Pablo Toral
13 Role of the International Monetary Fund in the Economic
Policy-making and Growth of the Baltic Countries 225
Ulvi Vaarja
Index 239