Macroeconomic and Financial Policies

SC Contribution to UNCTAD IGE FFD, November 2017

Input of the South Centre to the UNCTAD Intergovernmental Group of Experts on Financing for Development

This   is   a   contribution   by   the   South   Centre   to   the   first   session   of   the   UNCTAD Intergovernmental Group of Experts on Financing for Development (IGE-FFD) that will take place on 8-10 November 2017. (more…)

Statement, October 2017

South Centre Statement to the Ministerial Meeting of the Group of 24

Below is the statement by the South Centre’s Executive Director Mr. Martin Khor which was distributed during the Ministerial Meeting of the Group of Twenty-four held in Washington DC on 12 October 2017.

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SC Book Launch, 9 October 2017

Title:               Advice and Dissent – Dr. Y.V. Reddy’s Life in Public Service

Date:                Monday, 9 October 2017, 13:00-15:00H

Venue:             Julius Nyerere Conference Room, The South Centre, Geneva

Organizers:    The South Centre

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Policy Brief 43, August 2017

The Financial Crisis and the Global South: Impact and Prospects

The world economy has not still recovered from the effects of the financial crisis that began almost a decade ago first in the US and then in Europe.  Policy response to the crisis, the combination of fiscal restraint and ultra-easy monetary policy, has not only failed to bring about a robust recovery but has also aggravated systemic problems in the global economy, notably inequality and chronic demand gap, on the one hand, and financial fragility, on the other. It has generated strong destabilizing spillovers to the Global South.  (more…)

Policy Brief 42, July 2017

The Asian Financial Crisis: Lessons Learned and Unlearned

Much of what has recently been written about the Asian crisis on the occasion of its 20th anniversary praises the lessons drawn from the crisis and the measures implemented thereupon.  But they often fail to appreciate that while these might have been effective in preventing the crisis in 1997, they may be inadequate and even counterproductive today because they entail deeper integration into global finance.

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Research Paper 76, May 2017

The Financial Crisis and the Global South: Impact and Prospects

The world economy has not still recovered from the effects of the financial crisis that began almost a decade ago first in the US and then in Europe.  Policy response to the crisis, the combination of fiscal restraint and ultra-easy monetary policy, has not only failed to bring about a robust recovery but has also aggravated systemic problems in the global economy, notably inequality and chronic demand gap, on the one hand, and financial fragility, on the other. (more…)

Statement, April 2017

South Centre Statement to the Ministerial Meeting of the Group of 24

Below is the Statement by the South Centre’s Executive Director Mr. Martin Khor which was distributed during the Ministerial Meeting of the Group of Twenty-four held in Washington DC on 20 April 2017.

(more…)

Research Paper 73, February 2017

Inequality, Financialization and Stagnation

The failure of exceptional monetary measures pursued in response to the financial crisis in advanced economies to achieve a strong recovery has created a widespread concern that these economies suffer from a chronic demand gap and face the prospect of stagnation.  This paper reviews and discusses the alternative views on the causes of the slowdown in accumulation and growth and the policies implemented and proposed to deal with it. (more…)

Policy Brief 35, January 2017

On the Existence of Systemic Issues and their Policy Implications

Systemic issues are issues that arise from the built-in features of the global system and the impact of the interaction of its parts; as implied in the chapter title in the Monterrey Consensus, it pertains to the coherence and consistency of the monetary, finance and trade systems.  Systemic issues point at the weak points in the whole global financial “architecture,” the international structures and mechanisms that are beyond the control of individual countries.  Systemic issues are a particular concern to developing countries, which have experienced their greatest development reversals during international payments crises. (more…)

Research Paper 71, October 2016

Recovering Sovereignty Over Natural Resources: The Cases of Bolivia and Ecuador

This document analyzes the renegotiation process of oil and gas contracts in two Latin American countries, Bolivia and Ecuador, from 2003 to 2010 and the measures taken for sectorial policy reform in the hydrocarbon sector and our conclusions are that it has been favourable.  (more…)

Policy Brief 26, June 2016

Debt Dynamics in China – Serious problems but an imminent crisis is unlikely

Recently, there have been many articles in the international media predicting that China is facing an imminent financial/debt crisis worse than the 2008 US sub-prime crash. However, a closer look at the debt dynamics in China highlights some fundamental differences be-tween the debt situation of the source country of the 2008 global financial crisis and that of China. (more…)


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