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Public expenditure and deficits: the emerging countries’ financial circuits and crises

In: Monetary Economies of Production

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  • Eugenia Correa
  • Alicia Girón

Abstract

The central focus of this book is the relationship between money, the sphere of production, and the State. It explores how best to adapt the fundamental ideas of the circulationist perspective to achieve a better understanding of the financialisation of the production processes within contemporary capitalist economies. Importantly, the expert contributors illustrate that the true challenge ahead is to address how these new emerging forms can be eventually tamed, a challenge that the recent financial crisis has forcefully proven essential.

Suggested Citation

  • Eugenia Correa & Alicia Girón, 2013. "Public expenditure and deficits: the emerging countries’ financial circuits and crises," Chapters, in: Louis-Philippe Rochon & Mario Seccareccia (ed.), Monetary Economies of Production, chapter 12, pages 181-194, Edward Elgar Publishing.
    • Handle: RePEc:elg:eechap:14862_12
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    References listed on IDEAS

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    1. Stallings, Barbara & Studart, Rogério, 2003. "Financial regulation and supervision in emerging markets: the experience of Latin America since the Tequila crisis," Copublicaciones, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL), number 1799.
    2. Hyman P. Minsky, 1957. "Central Banking and Money Market Changes," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 71(2), pages 171-187.
    3. Thomas Ferguson & Robert Johnson, 2009. "Too Big to Bail: The "Paulson Put," Presidential Politics, and the Global Financial Meltdown," International Journal of Political Economy, Taylor & Francis Journals, vol. 38(2), pages 5-45.
    4. Hassan Bougrine & Mario Seccareccia, 2002. "Money, Taxes, Public Spending, and the State Within a Circuitist Perspective," International Journal of Political Economy, Taylor & Francis Journals, vol. 32(3), pages 58-79.
    5. James K. Galbraith, 2011. "Is the Federal Debt Unsustainable??," Economics Policy Note Archive 11-02, Levy Economics Institute.
    6. Thomas Ferguson & Robert Johnson, 2009. "Too Big to Bail: The "Paulson Put," Presidential Politics, and the Global Financial Meltdown," International Journal of Political Economy, Taylor & Francis Journals, vol. 38(1), pages 3-34.
    7. Kuczynski, Pedro-Pablo & John Williamson (ed.), 2003. "After the Washington Consensus: Restarting Growth and Reform in Latin America," Peterson Institute Press: All Books, Peterson Institute for International Economics, number 350, April.
    8. Stallings, Barbara & Studart, Rogério, 2003. "Financial regulation and supervision in emerging markets: the experience of Latin America since the Tequila crisis," Series Históricas 7798, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).
    9. Wesley Marshall, 2008. "Foreign Banks and Political Sovereignty: The Case of Argentina," Review of Political Economy, Taylor & Francis Journals, vol. 20(3), pages 349-366.
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