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Full-Text Articles in Social and Behavioral Sciences
Dimensions Of Us Global Financial Power: Essays On Financial Sanctions, Global Imbalances, And Sovereign Default, Mariam Majd
Dimensions Of Us Global Financial Power: Essays On Financial Sanctions, Global Imbalances, And Sovereign Default, Mariam Majd
Doctoral Dissertations
This dissertation examines how U.S. capabilities in the global financial arena enable it to affect outcomes to its advantage. The first essay presents theoretical support for the hypothesis that holdings of U.S. sovereign debt collateralize public and private dollar borrowing in developing and emerging market economies. The second essay empirically tests the theory presented in Chapter 1 and provides evidence that, indeed, a statistically significant relationship exists between a country’s official holdings of US Treasury securities and its level of outstanding dollar credit. Our results demonstrate that even after controlling for a persistence effect (i.e., inertia) in US Treasury security …
The Political Economy Of Accumulation In South Africa: Resource Extraction, Financialization, And Capital Flight As Barriers To Investment And Employment Growth, Seeraj Mohamed
Doctoral Dissertations
This dissertation uses a heterodox economics approach to explain poor levels of accumulation in South Africa. This approach to investment theory and models recognizes that many institutions are shaped to help people create stability in a world of fundamental uncertainty and irreversibility. Therefore, this dissertation examines the system of accumulation that developed in South Africa and its evolution. This approach to investment recognizes that beliefs and biases of people running institutions influence investment outcomes and shape ‘path dependence’. The corporations that grew to dominate the South African economy were formed during colonialism and apartheid. They grew around a core of …