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Thus, financial repression is most successful in liquidating debts when accompanied by inflation and can be considered a form of taxation, [6] or alternatively a form of debasement. [7] The size of the financial repression tax was computed for 24 emerging markets from 1974 to 1987. The results showed that financial repression exceeded 2% of GDP ...
[1] [2] In particular, he researched international trade and finance, economic development, monetary theory and policy; money and banking. [3] McKinnon is best known for developing the theory of "Financial repression" in 1973, working alongside his colleague Edward Shaw. [1] [4] [5]
Debt deflation is a theory that recessions and depressions are due to the overall level of debt rising in real value because of deflation, causing people to default on their consumer loans and mortgages. Bank assets fall because of the defaults and because the value of their collateral falls, leading to a surge in bank insolvencies, a reduction ...
Economic repression comprises various actions to restrain certain economical activities or social groups involved in economic activities. It contrasts with economic liberalization . Economists note widespread economic repression in developing countries .
[10] [5] [2] Through the lens of Keynes's General Theory, Krugman analyses the economic crisis of Asia and Latin America, incorporating the usual Keynesian elements: a liquidity trap, rejection of orthodox economics, chronically volatile financial markets and mistreatment of aggregate demand/supply.
According to the ordinance, NAB was granted authority to launch investigations,conduct inquiries, and issue arrest warrants against individuals suspected in financial mismanagement, terrorism, corruption in private, state, defence and corporate sectors), and direct such cases to accountability courts.
In international law, odious debt, also known as illegitimate debt, is a legal theory that says that the national debt incurred by a despotic regime should not be enforceable. Such debts are, thus, considered by this doctrine to be personal debts of the government that incurred them and not debts of the state.
The theory was put forward by the World Bank's World Development Report for 2000. The theory states foreign investors should have access to "well-regulated" financial markets which would provide the "surest path" to economic development. Businesses in low-income countries would gain direct access to the private capital from industrialized ...