• Limited Sovereignty and Economic Security: Survival in Southeast Europe.

      Pugh, Michael C. (University of Bradford., 2010-01-14)
      This paper focuses on why shared sovereignty in general has been problematic and why the political economy of liberal peace has had limited impacts on poverty and the role of crime in Southeast Europe. The analysis begins with shared sovereignty and its relevance to economic development. The paper then outlines the discouraging economic situation evidenced by documentation and fieldwork. I then ask the question `how do people cope?¿, and try to answer this with reference to the labour market and the non-observable economy. The argument is that economy of survival has been both a negotiation with, and resistance to, economic policies introduced from outside. Finally, the paper contemplates political economy approaches that emphasise production and employment creation.
    • Role of Finance in Economic Development

      Arora, Rashmi (Edward Elgar Publishers, 2022)
      A huge body of literature has well acknowledged the crucial role played by financial sector in economic growth. Financial sector enables mobilisation of savings and allocation of credit for production and investment. Among its other functions are supplying transaction and portfolio management services and providing payment services, and source of liquidity for the firms. Financial sector also monitors borrowers, matches illiquid assets with liquid liabilities, and integrates credit and liquidity provision functions (Bossone, 2000). Banks boost economic growth by identifying the entrepreneurs with the best chances of successfully initiating new goods and production processes (King & Levine, 1993) and facilitate long-run investments in the high return projects (Bencivenga & Smith, 1991). In this chapter we examine the role of financial sector in achieving economic growth and development. We also briefly look at the factors determining financial development.