Cesran International

Recent Articles

  • In the Eurozone, Indecision is Final

    Written by DANIEL MASON Wednesday, 05 October 2011 16:53 The FT Deutschland this week reported that Greek Prime Minister George Papandreou was considering resignation. According to one source he feels powerless, because “Greece no longer takes decisions for itself”. The story has since been denied, but if the Greek government isn’t taking the decisions, who is? Not eurozone

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  • Will High Economic Growth Ever Return?

    By DEAN CARROLL | 30.06.2011 This week, China made clear its intention to buy up government debt in Europe. The country’s $3 trillion currency reserves, the largest in the world, have already started to diversify holdings beyond US dollars. So there could be hope for Greece even if the European Union and the International Monetary

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  • Bourgeois “Strategising”: Interest Rates, Inflation and Profits

    By VASSILIS K. FOUSKAS | 08.05.2011 On speculation that the European Central Bank (ECB) would raise its interest rate, the Euro began rising to a 15-month high against the dollar. The Yen weakened too, as the Bank of Japan poured millions into various agencies to stimulate the country’s economic recovery after the devastating earthquake and

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  • Is Aid the Capital Component Making Countries Efficient? A Non-Parametric Production Theory Approach

    BY ANN VEIDERPASS and PER-AKE ANDERSSON | 12.04.2011 Introduction This study attempts to add a piece to the aid effectiveness puzzle by presenting an alternative to the common growth regression approach. Most studies of country performance simply rely on regression analysis and exploit the GDP per capita measure when capturing economic growth. Not only have these

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  • The Light at the End of the Tunnel: The South-South Locomotive

     By Dr. Can Erbil | 22.03.2011 South-South Trade In the aftermath of the global financial crisis, trade between developing countries (South-South trade[1]) has become more vital and more vibrant than ever. “Just as developing countries are becoming increasingly important markets for high-income exporters, so too are other developing countries becoming more important destinations for the exports

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  • ‘Made in America’ is not the way out of this crisis

    By Jagdish Bhagwati | 10 August 2010 President Barack Obama, addressing car workers recently at a GM plant in Michigan, defended his administration’s motor industry bail-out, saying that it had rescued “the heart and soul” of American manufacturing, that “has been a symbol of our economic power”. Mr Obama’s words are only the latest in a

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  • Protectionist Myths

    By Jagdish Bhagwati | 07 July 2010 At a debate in New York last year entitled “Buy American/Hire American Policies Will Backfire,” with hundreds of people in attendance, my team of three free-trade proponents took on a trio of protectionists who are often in the public eye. We expected that we would lose the final audience vote

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  • India’s Mistaken Call for Renminbi Appreciation

    By Jagdish Bhagwati | 05 June 2010 India’s central bank governor issued in late April a critique of the alleged Chinese undervaluation of the yuan/renminbi, siding therefore with the U.S. politicians and some think-tanks (chiefly Fred Bergsten and Arvind Subramanian of the Peterson Institute for International Economics) against China. I and Arvind Panagariya at Columbia published a

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  • Taming Rating Agencies

    By Dr. Kurtulus Gemici | 01 June 2010 Alchemy thrived in seeking how to turn ordinary, worthless metals into gold. To the dismay of countless alchemists, that goal has been rather elusive in the world of metals. Not so in the world of modern finance. The business of making golden assets out of worthless ones, a relatively

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  • Global Imbalances And The Great Recession

    By Dr. Kurtulus Gemici | 01 April 2010   As Aldous Huxley put it, “Ye shall know the truth, and the truth shall make you mad.” The truth is that the world economy is in major disarray and in the grip of the most severe downturn since the Great Depression. The recovery does not seem to be

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  • Listening to The Language of Change

    By Prof. Bulent Gokay | 01 April 2010 The economic downturn and recession, which spread across the globe following the US sub-prime mortgage crisis in September 2008, has become the dominant news topic of the past year.  The latest statistics reveal that 2009 experienced the first worldwide drop in output since the Second World War. Today, one

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  • Political Warfare old and new: The State and Private Groups in the Formation of the National Endowment for Democracy

    Robert Pee On June 8 1982, Ronald Reagan gave a speech to the British Parliament calling for a global crusade for democracy. The practical outcome of this was the creation, in December 1983, of the National Endowment for Democracy (NED). The NED was an autonomous Non-Governmental Organisation (NGO) consisting of four foundations: the National Democratic Institute

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