Tag Archives: Finance & Regulation

An obsession with growth has generated massive inequality, undermined global economic stability, and weakened faith in democracy. Reversing these trends requires reining in the power of financial capital and managing global trade flows.This essay is part of a series of articles, edited by Stewart Patrick, emerging from the Carnegie Working Group on Reimagining Global Economic Governance. It was first published on 17 July 2024 on the Carnegie Endowment website.“Growth” is a term used by...

A Path to Eden or Just Another Sin?Güney Düzçay and T. Sabri ÖncüThis article first appeared in the 24 November 2023 issue of the Indian journal, Economic and Political Weekly.IntroductionThe concept of “original sin” was introduced by Eichengreen and Hausmann (1999), defining it as “a situation in which the domestic currency cannot be used to borrow abroad or to borrow long term, even domestically.” Subsequently, Eichengreen et al. (2003) redefined the concept as a country’s inability to...

A Path to Eden or Just Another Sin? Güney Düzçay and T. Sabri Öncü This article first appeared in the 24 November 2023 issue of the Indian journal, Economic and Political Weekly. Introduction The concept of “original sin” was introduced by Eichengreen and Hausmann (1999), defining it as “a situation in which the domestic currency cannot be used to borrow abroad or to borrow long term, even domestically.” Subsequently, Eichengreen et al. (2003) redefined the concept as a country’s inability...

A Path to Eden or Just Another Sin?Güney Düzçay and T. Sabri ÖncüThis article first appeared in the 24 November 2023 issue of the Indian journal, Economic and Political Weekly.IntroductionThe concept of “original sin” was introduced by Eichengreen and Hausmann (1999), defining it as “a situation in which the domestic currency cannot be used to borrow abroad or to borrow long term, even domestically.” Subsequently, Eichengreen et al. (2003) redefined the concept as a country’s inability to...

A slightly edited version of this article first appeared in the Economic and Political Weekly on 22 July 2023.Summary: This article is the third and last in a series of articles on monetary policy debates in the age in which deglobalisation became a buzzword. Here, we continue our discussion of the ongoing Turkish monetary policy experiment by focusing on macroprudential measures, capital controls and central bank independence, as promised in the first article, as an example of these...

A slightly edited version of this article first appeared in the Economic and Political Weekly on 22 July 2023. Summary: This article is the third and last in a series of articles on monetary policy debates in the age in which deglobalisation became a buzzword. Here, we continue our discussion of the ongoing Turkish monetary policy experiment by focusing on macroprudential measures, capital controls and central bank independence, as promised in the first article, as an example of these...

A slightly edited version of this article first appeared in the Economic and Political Weekly on 22 July 2023.Summary: This article is the third and last in a series of articles on monetary policy debates in the age in which deglobalisation became a buzzword. Here, we continue our discussion of the ongoing Turkish monetary policy experiment by focusing on macroprudential measures, capital controls and central bank independence, as promised in the first article, as an example of these...

By Hasan Cömert & T. Sabri ÖncüThis article first appeared in the Economic & Political Weekly on 18 March 2023.This article is the second in a series of articles on monetary policy debates in the age when deglobalisation became a buzzword. Here, we begin our discussion of the ongoing economic experiment in Turkey as an example to elaborate on these debates. In the third article, we will turn our attention to the post-2018 Turkish currency crisis phase of the experiment by focusing on...

By Hasan Cömert & T. Sabri Öncü This article first appeared in the Economic & Political Weekly on 18 March 2023. This article is the second in a series of articles on monetary policy debates in the age when deglobalisation became a buzzword. Here, we begin our discussion of the ongoing economic experiment in Turkey as an example to elaborate on these debates. In the third article, we will turn our attention to the post-2018 Turkish currency crisis phase of the experiment by focusing...

By Hasan Cömert & T. Sabri ÖncüThis article first appeared in the Economic & Political Weekly on 18 March 2023.This article is the second in a series of articles on monetary policy debates in the age when deglobalisation became a buzzword. Here, we begin our discussion of the ongoing economic experiment in Turkey as an example to elaborate on these debates. In the third article, we will turn our attention to the post-2018 Turkish currency crisis phase of the experiment by focusing on...