Financial Developments in National And International Markets

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

DAVID CANTARERO Assistant Lecturer, University of Cantabria, Spain EMMANUEL CARRÉ PhD. Student, University of Montesquieu-IFREDE, France DAVID CEBALLOS Assistant Lecturer, University of Barcelona, Spain EUGENIA CORREA Professor in Economic Finance, Mexico National University, Mexico KORKUT ERTURK Associate Professor of Economics, University of Utah, USA DAVIDE FURCERI PhD. Student, University of Illinois, USA CLAUDE GNOS Associate Professor of Economics, University of Burgundy and Director, Center for Monetary and Financial Studies, France CARMEN GÓMEZ Lecturer in Economics, University of the Basque Country, Spain GREG HANNSGEN Research Associate, Levy Economics Institute of Bard College, USA ELIAS KARAKITSOS Chairman, Global Economic Research and Associate Member, Cambridge Centre for Economic and Public Policy, University of Cambridge, UK EDWIN LE HERON Maître de Conférences in Economics, Institut d’Etudes Politiques, France LOUIS-PHILIPPE ROCHON Assistant Professor of Economics, Laurentian University, Canada CARLOS RODRÍGUEZ Reader in Economics, University of the Basque Country, Spain SERGIO ROSSI Assistant Professor of Economics, University of Fribourg and University of Lugano, Switzerland MALCOLM SAWYER Professor of Economics and Pro Dean for Learning and Teaching, Leeds University Business School, UK PABLO TORAL Mouat Junior Professor of International Studies, Beloit College, USA ULVI VAARJA Lecturer in Macroeconomics and Money and Banking, Technical University of Tallinn and Senior Economist, Bank of Estonia, Estonia GREGORIO VIDAL Professor in Economic Policy, Mexico Metropolitan University, Mexico