New paper: redefined fundamental uncertainty and emerging markets

In this paper that has just been published in The IEB International Journal of Finance my co-author and I discuss the problem of uncertainty and emerging markets post-crisis development The story is about a “redefined fundamental uncertainty” – a peculiar situation that characterizes contemporary global economy, which in turn is driven by short-term financial capital flows, changes in industrialization patterns, spread of global consumerism and other factors (all discussed in the paper).

The theoretical backing is undeniably Kaleckian-Keynesian-Minskyian but also is of a totality view of economic-financial-social, itself motivated by dialectical interpretations of our economy.

Before the paper ventures to offer few scenarios for emerging markets, there is a informative discussion on fiscal rules and fiscal superfund. This may be relevant in various economies looking at either upgrading their infrastructure or jump-start their industrial diversification. Now, this applies to advanced and emerging markets alike…perhaps a discussion for another time… As always, comments are welcome via email.

 

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