POLS 3790 Lecture Notes - Lecture 10: Illicit Financial Flows, Capital Control, Investment Fund
2 Feb 2017
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Document Summary
If there is an export surplus with the us. Import tax wall: businesses are divided because it make importing more expensive but is making more jobs. Government figures convinced by banking community that the proper response for the crisis was economic development. Individual governments meeting up vs. many governments meeting up. Freeze the budget, use central bank to make money cheaper. Backgrounds in financial sector with government to financial sector role in private sector. Norway sovereign wealth fund, money from oil for social purposes. Poor outcome for us as we don"t use money from oil. Tax havens not addressed for so many years. Pushback: governments and banks in global south believe these are good for banks now. Good news, leads us to a world with fewer financial crises in developing countries. More space for governments to pursue their course of action. The good new is that the g20 has agreed to ditch market fundamentalist prescriptions for "poor" countries.
