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Tag Archives: International & World

India’s Inclusion in the JP Morgan GBI-EM (bond) Indices

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...

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India’s Inclusion in the JP Morgan GBI-EM (bond) Indices

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...

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India’s Inclusion in the JP Morgan GBI-EM (bond) Indices

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...

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Monetary Policy Debates in the Age of Deglobalisation: the Turkish Experiment – III

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...

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Monetary Policy Debates in the Age of Deglobalisation: the Turkish Experiment – III

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...

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Monetary Policy Debates in the Age of Deglobalisation: the Turkish Experiment – III

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...

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Blame economists for decades of false security

And for the cataclysmic gap between theory, policy and ecosystem collapse. [This article was first published on Ann’s Substack site, System Change, on 21st August 2023] The Financial Times’s Lex column is legendary. The editor, Jonathan Guthrie, argues that it is “the oldest and arguably most influential column of its kind” having first appeared in 1945. Lex is written by a collective – there are no author bylines because that would be inaccurate, writes Guthrie. The name is “a riff on the...

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Blame economists for decades of false security

And for the cataclysmic gap between theory, policy and ecosystem collapse.[This article was first published on Ann’s Substack site, System Change, on 21st August 2023]The Financial Times’s Lex column is legendary.The editor, Jonathan Guthrie, argues that it is “the oldest and arguably most influential column of its kind” having first appeared in 1945. Lex is written by a collective – there are no author bylines because that would be inaccurate, writes Guthrie. The name is “a riff on the Latin...

Read More »

Blame economists for decades of false security

And for the cataclysmic gap between theory, policy and ecosystem collapse.[This article was first published on Ann’s Substack site, System Change, on 21st August 2023]The Financial Times’s Lex column is legendary.The editor, Jonathan Guthrie, argues that it is “the oldest and arguably most influential column of its kind” having first appeared in 1945. Lex is written by a collective – there are no author bylines because that would be inaccurate, writes Guthrie. The name is “a riff on the Latin...

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UK – bottom of the international economic league table

There are still a lot of arguments on Twitter as to whether the UK is doing ‘better’ or ‘worse’ in terms of GDP than, in particular, our EU neighbours, and the G7 in general.  (Yes we know GDP is a wholly inadequate measure, but it’s still the common currency in our political debate, and we don’t want to leave the field to the false claims of others). Today, dear old Liam Halligan, now to be found wandering the arid deserts of GB News and the Daily Torygraph, has valiantly tried to lift...

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