– The complete TITLE is:
The failure to create stable net flows of development finance from the rich world to the poor one is arguably the greatest failure of the current wave of financial globalisation. Evaluate this statement with reference to the theories of international capital flows, the patterns of flows actually observed, their consequences and policy implications.
– I don’t want free add-ons.
– I don’t want it to be even one word more than 3000 words. This is the strict word limit. Any thing between 2900- 3000 words is fine.
– I’d like you to use ONLY the sources/references I introduce to you as bellow. Please select 18 or more sources out of these 33:
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2. Arrighi, Giovanni (2010),The long twentieth century: money, power, and the origins of our times, New York: Verso.
3. Blanchard, O. G. DellAriccia and P.Mauro (2010), Rethinking Macroeconomic Policy, Staff Position Note. APN/10/03, February 14, 2010
4. Blanchard O. and G. M. Milesi-?Ferretti (2009), Global Imbalances: In Midstream?, IMF Staff Position Note, December 2009
5. Cooper Richard (1999), Should Capital Controls be Banished?, Brooking Papers on Economic Activity, 19991. Issue 1
6. Dumnil,Grard and Dominique Lvy (2004), Capital Resurgent, Cambridge: Harvard University Press.
7. Eichengreen Barry and Ricardo Hausmann (1999) Exchange Rates and Financial Fragility, NBER paper 7418
8. Frankel, J. A. (1999). No Single Currency Regime is Right for All Countries or At All Times, NBER Working Paper 7338, National Bureau of Economic Research, Cambridge MA.
9. Gourinchas, P-?O, and Olivier Jeanne (2006), Capital Flows to Developing Countries: The Allocation Puzzle, IMF Working Paper
10. Heller, H. R. (1966), Optimal International Reserves, Economic Journal, 76: 296-? 311.
11. IMF (2011), World Economic Outlook Database, September 2011.
12. IMF (2010), The Funds Role Regarding Cross-?Border Capital Flows, Report
13. Prepared by the Strategy, Policy, and Review Department and the Legal Department, in consultation with other Departments, November 15, 2010.
14. Jeanne, Olivier (2007), International Reserves in Emerging Market Countries: Too Much of a Good Thing?, Brookings Papers on Economic Activity, 2007 -?1
15. Jeanne, O and Zettlemeyer J (2005) Original Sin, Balance Sheet Crises and International Lending, in Eichengreen B, R. Hausmanneds (2005), Other Peoples
16. Money: Debt Denomination and Financial Instability in Emerging Market Economies,Chicago , University of Chicago Press
17. Kose, M. Ayhan, Eswar Prasad, Kenneth Rogoff, and Shang-?Jin Wei (2006), Financial Globalization: A Reappraisal, IMF. Working Paper, WP/06/189
18. Kose, M. Ayhan, Eswar Prasad, Kenneth Rogoff, Shang-?Ji Wei (2007), Financial Globalization behind the Blame Game: A New Way of Looking at Financial Globalization Reexamines its Costs and Benefits, Finance and Development, volume 44, n.1, March 2007
19. Mckinnon, Ronald (1973), Money and Capital in Economic Development, Brookings Institution , Washington D.C..
20. Obstfeld M (1998), The Global Capital Market: Benefactor or Menace?, Journal of Economic Perspectives
21. Obstfeld Maurice and Alan M. Taylor (2001), Globalisation and Capital Markets, paper presented at the NBER conference, Globalisation in Historical Perspective, Santa Barbara, May 4-?5, 2001
22. Obstfeld M., J.C. Shambaugh and A.C. Taylor (2005), Trilemma in History: Tradeoffs among Exchange Rates, Monetary Policies and Capital Mobility, Review of Economics and Statistics 87 (August):423-?38
23. Obstfeld M., J.C. Shambaugh and A.C. Taylor (2008), Financial Stability, the Trilemma and International Reserves, NBER Working Paper 14217
24. Obstfeld M (2010) Expanding Gross Asset Positions and theInternational Monetary System, paper presented at the Federal Reserve Bank of Kansas City symposium, August 26-?28, 2010
25. Ostry, J. et.al (2010), Capital Inflows: The Role of Controls, IMF Staff Position Note. APN/10/04, February 19, 2010
26. Ostry, J. et.al (2011), Managing Capital Inflows: What Tools to Use?,IMF Staff Discussion Note.SDN/11/06, April 05, 2011
27. Painceira, Juan Pablo (2009), Developing Countries in the Era of Financialisation:From Deficit Accumulation to Reserve Accumulation Research on Money and Finance, Discussion Paper no 4.
28. Prasad Eswar, RaghuramRajan, Arvind Subramanian (2007), Foreign Capital and Economic Growth, Brookings Papers on Economic Activity, 2007. 1
29. Prasad Eswar, RaghuramRajan, Arvind Subramanian (2007), Patterns of International Capital Flows and Implications for Economic Development, Paper presented at the Federal Reserve Bank of Kansas City Symposium
30. Prasad, Eswar (2011), Role Reversal in Global Finance, Paper Presented at the Jackson Hole Symposium of the Federal Reserve Board of Kansas City, August 2011
31. Rodrik, Dani (2006), The Social Cost of Foreign Exchange Reserves, International Economic Journal 20, no.3: 253-?66
32. Shaw, Edward (1973), Financial Deepening in Economic Development, New York: OxfordUniversity Press.
33. Turner, P. (2008) Financial globalisation and emerging market capital flows. BIS Paper 44, (Basel:BIS).
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