Is Russia Still a BRIC?
Can Russia break its dependence on oil and diversify its economy (its so-called resource curse)? Aleksandr Gevorkyan argues that it has the potential and may be well on the way to doing so—that is, beating the curse and becoming a full-fledged global player again.
Sailing Out of Crisis Emerging Markets Style
Emerging markets are said to have sustained relatively well in the recent global crisis. There are several factors that help explain this popular view, such as, for example, perceived separation from key international financial centres. Still a lot is to be digested in the crisis aftermath with immediate implications for financial markets and real economy. This chapter offers a unique insight into dynamics within transition economies via an extended blended fiscal–monetary policy rules model with possibility of foreign reserves targeting and foreign currency-denominated debt dynamics. Calibration is based on actual data and is done under various targets and financial risk conditions. Prudent monetary policy and fiscal policy initiatives within current context drive the choice of targets. That may help dampen negative impacts of the crisis and thwart potential currency run. This chapter advances three possible post-crisis scenarios, each with unique solution for reserves, exchange rate, sustainable debt and output levels. Categorizing between net exporters and net importers based on countries' external positions, group-specific results are derived. While both groups are susceptible to exchange-rate risk affected by a multitude of shocks due to their fragile financial system, net importers risk high inflation, but net exporters over-borrowing. This chapter contributes to the literature on global financial crisis, macroeconomic policy, and role of nominal targets and foreign reserves in emerging markets.
Women and fascism
This seminal book challenges the common assumption that fascism is a misogynist movement which has tended to exclude women. Using examples from Germany, Italy and France, Durham analyses the rise of women in fascist organizations across Europe from the early twenties to the present. Unusually, however, the author focuses on British fascism and in doing so he offers valuable new perspectives on fascist attitudes to women. Offering interesting examples of women training in armed combat, and more generally as voters and members of fascist organizations, he highlights women's relationship to fascist policies on birth rate, abortion and eugenics.