Global Economy 1987-2017 – Unpredictability of Predictability
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Abstract
In this paper critical developments that shaped the global economy from 1987 until 2017 were analyzed. The globalization process was addressed from the perspectives of convergence or divergence paths and outcomes. The lessons learned were presented. The need for historical perspective is emphasized. Instead of “superior or inferior model” qualifications, the plurality of ideas is recognized. The arrogance of perceived, yet fragmented knowledge proved to be devastating in the number of economic episodes.
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Financial Sector Reform,” International Monetary Fund Working Paper 99/28
https://www.imf.org/external/pubs/ft/wp/1999/wp9928.pdf
Berry Heather, Mauro Guillen F. and Arun Hendi S. 2014. “Is there Convergence across
Countries? A Spatial Approach,” Journal of International Business Studies, 45 pp. 387-404
Bonciu Florin. 2017. ”World Economy between Yesterday and Tomorrow: The Transition
Towards a New International Economic Order, “Romanian Economic and Business Review, Vol 12. No. 1 pp. 50-58
Chan S. Kenneth. 2007. “Trade, Social Values, and the Generalized Trust,” Southern Economic Journal, 73(3), pp. 733-753
Dobbin Frank, Beth Simmons and Geoffrey Garrett. 2007. “The Global Diffusion of Public
Policies: Social Construction, Coercion, Competition, or Learning?” Annual Review of Sociology, 33 pp. 449-472
Dollar David. 2015, “China’s Rise as a Regional and Global Power,” Horizons, Issue 4, pp. 162- 172
Edwards Franklin 1999. “Hedge Funds and the Collapse of Long-Term Capital Management”
Journal of Economic Perspectives Vol. 13 (2) pp. 189-210 Federal Reserve. 2013. “Stock Market Crash of 1987,”
https://www.federalreservehistory.org/essays/stock_market_crash_of_1987
Fourcade-Gourinchas Marion and Sarah Babb L. 2002. “The Rebirth of the Liberal Creed,
Paths to Neoliberalism in Four Countries,” American Journal of Sociology, 108(3) pp. 533-579
Fox Justin. 2013. “What We Learned from the Financial Crisis,” Harvard Business Review,
November Issue, https://hbr.org/2013/11/what-weve-learned-from-the-financial-crisis
Oztuk Serder, and Ali Sozdemir. 2015. “Effects of Global Financial Crisis on Greece Economy,” Procedia Economics and Finance 23, pp. 568-575
Polillo Simone and Mauro Guillen F. 2005. ”Globalization Pressures and the State: The Global Spread of Central Bank Independence,” American Journal of Sociology, 110 (6), pp. 1764-1802
Ramo Joshua Cooper. 2004. The Beijing Consensus, The Foreign Policy Centre
Rodrik Dani. 2002. “After Neoliberalism, What”, Remarks at the BNDES Seminar on “New Paths of Development,” Rio de Janiero, September 12-13
Ryazantsev Sergey. 2016. “Labor Migration from Central Asia to Russia in the Context of the
Economic Crisis,” Russia in Global Affairs, http://eng.globalaffairs.ru/valday/Labour-
Migration-from-Central-Asia-to-Russia-in-the-Context-of-the-Economic-Crisis-18334
Tett Gillian. 2010. ”The Story of BRICS,” Financial Times Magazine,
https://www.ft.com/content/112ca932-00ab-11df-ae8d-00144feabdc0
Williamson John. 2004. “The Washington Consensus as Policy Prescription for Development,” A lecture in the series "Practitioners of Development" delivered at the World Bank on January 13, Peterson Institute for International Economy,
https://piie.com/publications/papers/williamson0204.pdf