Esta dissertação tem o objetivo de analisar a crise da zona do euro (2007-2013) à luz do processo de integração europeu do pós-guerra e da teoria econômica ortodoxa que embasou e legitimou a forma de constituição da zona do euro. Em relação ao processo de integração, o trabalho enfatiza cinco fatores: 1) mudança das motivações; 2) consolidação da liderança alemã; 3) como as diversas etapas de integração impactaram na coordenação de políticas econômicas; 4) inserção do bloco no sistema monetário e financeiro internacional em cada período; e 5) constituição de um bloco com países heterogêneos. Argumenta-se que a evolução do processo de integração, resultando na constituição de uma união monetária, em 1999, ocorreu sob influência da teoria econômica ortodoxa, com o Novo Consenso Macroeconômico e a Hipótese dos Mercados Eficientes, além dos efeitos dessas teorias para as modificações da teoria das Áreas Monetárias Ótimas. Nesse sentido, sustenta-se que a institucionalidade da zona do euro, em um contexto de livre movimentação de capitais, resultou em problemas estruturais que permitiram: 1) a evolução dos desequilíbrios internos ao bloco, no período de expansão econômica (2000-2007)...

First signs of a sovereign debt crisis spread among financial players in the late 2009 as a result of the growing private and government debt levels worldwide. Late 2010, Trichet (then President of the ECB) stated that the sovereign debt crisis in Europe had become systemic. In an established crisis context, it was searched for evidence of structural breaks and cointegration between interest rates and stock market prices. A 13 year time-window was used in six European markets under stress. The results identified significant structural breaks at the end of 2010 and consistently rejected the null hypothesis of no cointegration.

O presente trabalho, pela aproxima????o te??rica ?? categoria de Modo de Produ????o, busca aclarar os fundamentos da sociabilidade burguesa e de sua rela????o com os aspectos mais essenciais da crise ambiental. Pauta-se pela hip??tese de que a crise do modo de produ????o que temos entendido estar em curso apresenta-se para al??m da crise financeira capitalista, como problema de ordem ambiental, como crise ligada ?? totalidade do potencial de autodestrui????o da humanidade no atual desenvolvimento hist??rico, principalmente por meio da destrui????o irrevog??vel da natureza pelo Capital. Neste sentido, a crise ambiental enquanto express??o de um fen??meno ainda maior ??? a crise estrutural do modo de produ????o ??? pode ser compreendida a partir da an??lise dos fundamentos do modo de produ????o ora hegem??nico, que como buscaremos demonstrar, depende de formas entr??picas de apropria????o da natureza (e de sua destrui????o) bem como da destrui????o da vida humana.; The present work seeks to clarify the foundations of bourgeois sociability and its relationship with the most essential aspects of the environmental crisis. It is guided by the hypothesis that the crisis of the mode of production that we understood to be ongoing features beyond the capitalist financial crisis as an environmental problem...

non-peer-reviewed; Focusing upon scapegoating in post-crash Ireland, this article considers a pervasive political process that is protective of powerful interests and the status quo following the 2008 Global Financial Crisis. Drawing from group conflict theory and framing analysis as part of a broader critical realist take on society, we consider how blame has been placed on myriad targets, ranging from a collective ‘we who went a bit mad with borrowing’ to more specific groups such as public sector workers, the unemployed, single mothers and immigrants. In conclusion, we underscore the need for sociology to assert its relevance by challenging such processes and defend civil society in a capitalist world-system that is in structural crisis.

The paper studies monetary policy and the monetary transmission mechanism in Thailand in light of the Asian crisis in 1997. Existing studies that adopt structural vector auto-regression (VAR) approaches do not give a clear and agreed-upon view how monetary shocks are transmitted to the Thai economy that is subject to structural breaks. This study explicitly models a pre-crisis and post-crisis cointegrated VAR model. This analysis supports arguments that the trinity of open capital markets, pegged exchange rate regime, and monetary policy autonomy is inconsistent in the pre-crisis period. In contrast, the model points to an effective monetary policy in the post-crisis period. Further, the author analyzes the common driving trends of the model.

A Structural Policy Review (SPR) for Malaysia, prepared in late 1998 and early 1999, was shared with the government of Malaysia in February 1999 and subsequently appeared in gray cover in June 1999 (report no. 18647). The report covered developments in the following six areas: 1) maintaining sound macroeconomic policies and resuming growth; 2) managing the social impact of the crisis; 3) financial sector restructuring; 4) corporate restructuring; 5) strengthening corporate governance and competitiveness; and 6) strengthening public sector management and performance. The SPR examined these short and medium term structural issues as they came to light during the first 14 months of the crisis. At the time the report was written the government had formulated responses to the crisis across a wide variety of policy instruments. Since then, however, events have evolved. The objective of this report is to review the progress made over the last year on structural issues in each of the six areas covered in the original SPR and place these in the context of what is happening a) in other countries in the region managing the same crisis and b) in the discussions of the new international financial architecture. This perspective is used to assess the quality of the current recovery and structural basis for sustained medium term growth and poverty reduction.

Papua New Guinea enjoyed sound macroeconomic stability prior to the 1990s, however, in the past six years, this stability has been derailed twice. The first was caused by the closure of the Bougainville Copper Mine in 1989, and the second appeared to be a loss of control of fiscal management 1994. In each case, the macroeconomic policy response was quick and decisive and orthodox austerity measures were put in place to reduce the aggregate demand.

The years 1994 and 1995 were difficult for the Papua New Guinea economy. Following a 16.8 per cent growth rate in 1993, during the next two years financial instability overshadowed other economic problems. Although this crisis derived from budgetary mismanagement, the instability of the macroeconomic environment has tended to be crisis prone. Since independence 21 years ago, economic growth has been sluggish, occasionally rising sharply with the start of a major mine but tumbling precipitously after peak production of the mine.

The macroeconomic instabilities of the 1990s may turn out to be a blessing in disguise, if they result in policy reforms that address the problems of debilitating economic performance, and not just macroeconomic policy stability. They have served as reminder to the economic managers of the structural weaknesses of the economy and have indirectly forced the formulation of a comprehensive structural adjustment program in 1995.

The aim of this thesis is to examine empirically the relationship between the exchange rate, the instruments of monetary policy and the measures of economic performance for Indonesia, Korea and Thailand during the pre- and post 1997 Asian financial crisis. The first core chapter (Chapter 2) assesses the possible linkages between the increase in domestic inflation and the exchange rate targeting policy adopted in these countries. Using the cointegration technique and a simple monetarist inflation model, Chapter 2 finds strong evidence that the exchange rate policy that generates a predominant domestic currency undervaluation has caused an increase in the domestic inflation rate for Indonesia and Korea. However, the exchange rate targeting policy that brings about a predominant baht overvaluation especially during the pre-crisis period has lowered Thailand’s inflation. Soon after the outbreak of 1997-crisis, instead of using the exchange rate as the nominal anchor, all three countries have implement their monetary policy around an inflation target following an inflation targeting framework. Owing to this significant structural break, the second core chapter (Chapter 3) uses a Markov-switching VAR framework to determine if the effects of monetary policy shocks have changed across different monetary policy regimes in these economies. Chapter 3 finds that regime switches occur in mid-1997 to 2000 for Indonesia...

Driven by the sustained high level of mineral demand from the emerging economies, particularly China, Australia has welcomed one of the most significant and long-lasting mining boom in its history. The windfall gain from the mining industry has helped the country weather the 2008-09 global financial crisis with strong economic growths. While the economy is still benefiting from the ongoing high level of mining activities, the presence of a structural deficit which came into existence before the global meltdown underlines the fundamental weakness of the economy. According to the Organization for Economic Co-operation and Development (OECD), the structural budget balance measures the levels of government revenue and expenditure when the economy is at its potential. By removing the cyclical components from the actual budget, the structural budget reflects the long-term ability of the government to finance its spending with the amount of revenue received when the economy is free from any positive or negative shocks. The fact that Australia has been having structural budget deficits in recent years seems to suggest that if the positive economic factors such as high commodity prices were removed, the country would experience great difficulties in supporting the current level of expenditure and the debt level would start to rise very quickly. The successful experiences of managing windfall gains from resource booms in other economies which are highly exposed to fluctuations in commodity prices offer insights that will help Australia make better use of the current mining boom. In Chile...

Following the East Asian financial crisis, the Bank's involvement in Thailand intensified, enabling a multifaceted stabilization, and structural reform dialogue, which deepened the economic, financial, and sector knowledge of the country. The study benefits from this analytical work, and provides an overview on the ongoing policy dialogue, regarding short- and medium-term reform, through a number of instruments. To promote longer-term growth, the country embarked on a twin strategy of macroeconomic stabilization, and structural reform. Although its flexible labor market, and support mechanisms diminished the crisis' impact on unemployment, and poverty, compared to other countries in the region, this ability to moderate the impact of the economic crisis, could adversely impact a prolonged crisis. The study examines steps to strengthen public sector social programs, and institutional capacity, envisaging coherent poverty support programs in a timely manner, while speeding fiscal stimulus effects, and, monitoring poverty through reliable information...

The financial crisis swiftly expanded into an economic crisis throughout America and Western Europe, from where it spread to developing countries that had depended on foreign direct investment, consumer and mortgage credit, trade, and remittances. By early 2009, it was clear that this economic downturn would be more severe than any crisis since the great depression, prompting some to it as the 'great recession.' Eastern European and Central Asian countries were hit particularly hard during 2009, global Gross Domestic Product (GDP) contracted for the first time since Second World War. The financial crisis and the ensuing economic downturn, the worst since the Great Depression in the 1930s, went hand in hand with tightening of credit markets, bank failures, firm closures, and high demand for social safety nets. This report, The jobs crisis: household and Government responses to the great recession in Eastern Europe and Central Asia, brings together evidence that World Bank teams have collected on the impact of the crisis on households and families in Eastern Europe and Central Asia. This report shows how the crisis was felt by Eastern European and Central Asian households. Not only did unemployment rise sharply but it also lasted longer. The report also shows that the pain of the recession was broader...

Real Gross Domestic Product or GDP growth slowed to an estimated 1.3 percent in 2013 from 3.4 percent of 2012. In January 2013, we projected 3.6 percent growth for 2013, but while the global economy has continued to improve at a moderate pace, Russia's is struggling to find its footing. The first part of this report explores the recent economic developments that underlie this slowdown. To emerge from the downturn with improved long-term prospects Russia will need a combination of cyclical and structural policy measures. As the relative weight of the reasons for Russia's downturn is tilted toward structural factors, structural measures will need to lead the rebound. The lack of more comprehensive structural reforms in the past has led to a gradual erosion of investor confidence. This was masked by a growth model based on large investment projects, continued increases in public wages, and transfers, all fueled by sizeable oil revenues. Recent events around the Crimea have compounded the lingering confidence problem into a crisis of confidence and more clearly exposed the economic weakness of this growth model. Investor pessimism became the decisive factor affecting Russia's economic outlook...

Social benefits can potentially play an important role in protecting the poor and minimizing the impacts of an economic crisis. While many studies estimate the impacts of a crisis, there is little evidence of the actual response of social safety nets to systematic shocks. This study traces the response of social benefits during the 2008-10 global crisis for 14 countries in Europe and Central Asia (ECA). The study first sets out a framework for defining the 'expected' response of social benefits covering an assessment of pre-crisis preparedness of social benefits and the severity of the crisis for all countries in the ECA region to provide the context; and then develops a typology of all countries categorized by expected response. Using this typology the study analyzes the monthly administrative data on the observed patterns within social benefit programs. Main findings indicate that actual responses were largely in line with expectations. Pre-crisis preparedness clearly influenced the ability of social benefits to respond to the crisis. Unemployment benefits were generally the first line of response in countries that have them...

The present work addresses the State and Social Policy and has as objective investigate how social policy can be considered a form of control of the social-metabolic capital through the activity of the state. To do so, based on the Marxian analysis of the ontological foundations of the state, conducting a study of the socio-historical emergence of the state and its social function as well as the development of the modern state - as the typical capitalism - form of state and its different forms of action, and how nature has to perform its social function. In this direction, performs an analysis on the order of reproduction of capital and the role of the state as a political command structure aimed at defending the interests of capital, complementing it so essential for the maintenance of order socio-metabolic. It also addresses the "social question" and its main dimensions to understand how they originate and develop social policies - as a form of state action in response to their expressions. So, doing a historical restoration of proto-forms of social policies, we seek to capture its ontological foundations, analyzing the process of consolidation during the period of monopolistic capitalism - its highest expression the "Welfare State" - and its social function in the system s social-metabolic capital. It also examines the nature of capital's structural crisis and its determinations...

Comunicação apresentada na Universidade de Wroclow.; Economic crisis give rise to high societal costs but to processes of change, too. The present crisis that was engendered by the USA Hedge Funds fail concerns a wide range of factors that self interact and interact with other crisis which are obviously systematic, as it is the case of the climate crisis. Consequently the efficiency of the present economic development model, which is based on the persistent prosecution of higher productivity rates, has to be questioned. The analysis of the main characteristics of the present crisis, namely those concerning economic externalities, the threat to fundamental Human rights, the hypertrophy of international liquidity, the lack of financial resources for States and the increasing of social inequalities, shows that it is a structural crisis and points to the need of changing the prevailing paradigm of the societal system. One possibility is to undertake reforms leading to the implementation of the democratic economic model, but for that it’s required to have Public Administrations with specific and wide competences.

Des de 2008 la societat espanyola està sumida en una crisi profunda que a mig i llarg termini comportarà canvis estructurals de gran transcendència. La situació actual no respon a un problema conjuntural sinó que la crisi que estem vivint respon a problemes estructurals de l’economia i la societat espanyola, en un doble àmbit. Per una banda, la feblesa del model productiu i del sector públic, que els anys de creixement havien “dissimulat” però que ara es mostren amb força. Per altra, les polítiques públiques aplicades, que agreugen els problemes i dificulten la eixida de la situació actual. Els dos factors senyalats, dinàmica econòmica i polítiques públiques es reforcen negativament i apunten un futur amb elevades taxes d’atur, desigualtat i pobresa.; Desde 2008 la sociedad española está sumida en una crisis profunda que a medio y largo plazo comportará cambios estructurales de gran trascendencia. La situación actual no responde a un problema coyuntural sino que la crisis que estamos viviendo responde a problemas estructurales de la economía y la sociedad española, en un doble ámbito. Por un lado, la debilidad del modelo productivo y del sector público, que los años de crecimiento habían “disimulado” pero que ahora se muestra con fuerza. Por otra...

THE TEXT DISCUSES THE MAJOR CHARACTERISTICS OF THE WORLD SYSTEM APPROACH IN ITS DIRECT APPLICATION TO THE PRESENT SYSTEMIC CRISIS, WHICH CAN BE TERMINAL. THE ARTICLE CONSIDERS THEN THE PRESENT ALTERNATIVES TO THE SITUATION CONCEIVED AS WHAT IS CALLED THE “SPIRIT OF DAVOS”, A PROBABLY INCONSEQUENTIAL ATTEMPT OF REFORMING THE PRESENT, AND THE “SPIRIT OF PORTO ALEGRE”, AN ALTERNATIVE FOR A BETTER, MORE JUST AND MORE EQUAL WORLD-ECONOMY.; O TEXTO ABORDA AS QUESTÕES FULCRAIS DA TEORIA DO SISTEMA MUNDO RELACIONANDO-AS COM A PRESENTE CRISE SISTÉMICA, QUE SUGERE PODER SER UMA CRISE TERMINAL. O ARTIGO CONSIDERA QUE QUAISQUER ALTERNATIVAS À PRESENTE SITUAÇÃO SE INSCREVEM NECESSARIAMENTE OU NO QUE CHAMA O “ESPÍRITO DE DAVOS”, APRESENTADO COMO UMA TENTATIVA PROVAVELMENTE INCONSEQUENTE DE REFORMAR O PRESENTE, OU NO “ESPÍRITO DE PORTO ALEGRE”, QUE APONTA NO SENTIDO DE UMA ECONOMIA MUNDO MAIS JUSTA E EQUITATIVA.

This paper has two objectives. First, it seeks to fill a gap in the knowledge of East Asian internationalisation and economic integration by examining labour migration in the pre-crisis period, and its association with structural change. Second, it examines the impact of the East Asian crisis on ILM. This enables us to speculate on the extent to which the crisis has disturbed the pre-crisis pattern of increasing ILM that was associated with rapid structural change and internationalisation. The paper examines the tension between longer-term structural factors that had driven increasing ILM, on the one hand, and the abrupt impact of the Asian economic crisis on the demand for migrant workers on the other. The paper is structured as follows. Section 2 maps the relationship between ILM and structural change during the boom period of economic growth and globalisation, focusing on the decade before the economic crisis in East Asia. Section 3 surveys the impact of the Asian economic crisis on labour mobility, focusing on the four economies most affected by the crisis. In Section 4 I look briefly at trends in business and professional migration followed by some concluding remarks.

Esse artigo trata das mudanças no mundo do trabalho a partir da crise da década de 1970 e de suas mediações na Educação Física. Apresentamos, portanto, elementos de estudos e de pesquisa realizada no campo empírico que demonstram as condições de trabalho e formação a que estão submetidos os professores da área diante das novas demandas do capital. Finalizamos, demonstrando o caráter de adaptação às necessidades do capital que a formação profissional da área vem promovendo e apontamos para uma formação com base num viés crítico ao modo de produção capitalista e a necessidade de superação do mesmo.; This paper deals with changes in the working world after the crisis of the 1970s andtheirmediations in Physical Education. Therefore, elements of studies and empiricalresearchin the field show that working conditions and training for teachers who are subject areabefore the new demands of capital. We conclude by showing the character to adaptto the needs of capital that the training has been promoting the areaand pointed to aformation based on a critical bias the capitalist mode of productionand the need toovercome it.

O artigo busca explorar a problemática da educação profissional de nível superior de curta duração, denominada, no Brasil, de graduação tecnológica. De caráter introdutório e necessariamente sintético, traça um panorama sobre as políticas públicas nacionais no campo educacional, especificamente aquelas mais imediatamente direcionadas para os filhos de trabalhadores que demandam formação superior. Nesse sentido, busca contextualizar historicamente o surgimento e a evolução da graduação tecnológica de nível superior no país, indagando a respeito das mediações fundamentais que articulam o estabelecimento de tal modalidade de ensino ao processo de reprodução do capital no quadro de sua crise estrutural (Mészáros), sob o pressuposto crítico de que esse tipo menor de ensino ilustraria com folga o caráter aligeirado e reducionista atribuído ao conhecimento em todas as esferas da formação do trabalhador, além do que reeditaria, no nível superior, o histórico dualismo que atravessa a educação sob o poder do capital.; El artículo busca explorar la problemática de la educación profesional de nivel superior de corta duración, conocida en Brasil como carrera tecnológica. De carácter introductorio y necesariamente sintético...