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- W2498166499 abstract "This paper explores the contribution of Keynesian economics to the matter of finance and development. It does so in several steps. First, the paper presents an account of the mainstream neoclassical approach to finance and development and traces through its historical evolution since the early 1970s. Second, the paper demonstrates that the failure of the neoclassical approach to finance and development stems from a variety of immutable theoretical and empirical problems with this approach. Third, the paper considers a range of Keynesian contributions to the debate over finance and development that have emerged in the wake of the repeated and consequential failures of the financial liberalization prescription and the related early warning models of financial crisis in developing countries that have been so important to neoclassical theorists. Fourth, the paper considers the kinds of commitments and broad approaches to financial policy in the developing world that are consonant with Keynesianism. Finally, the paper concludes with some speculations on the possibilities that the current global financial turmoil will create intellectual and policy space for Keynesianism to be taken more seriously as part of a sustained intellectual revival of the paradigm." @default.
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- W2498166499 date "2010-01-01" @default.
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- W2498166499 title "Financial Systems and Economic Development in the 21st Century: Are We All Keynesians Yet?" @default.
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- W2498166499 doi "https://doi.org/10.1057/9780230285415_1" @default.
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