Description
Shahid Ahmed read Economics at Cambridge University, UK, before joining the State Bank of Pakistan. He subsequently worked in international and development banking in London, Abu Dhabi and Dubai between 1976 and 1996. He served with the United Nations Economic and Social Commission for Asia and the Pacific in Bangkok. He is the author of Rentier Capitalism: Disorganised Development and Social Injustice in Pakistan (Palgrave Macmillan, 2016). 1. Introduction -Historical evolution of financial services-Financialization-Financial services in developing countries-Some general observations 2. Money, the real economy and financial services -Historical background-Monetary economics in practice: extracting the surplus-The price level and inflation-Money and the process of growth-The neoliberal revival in the 1980s-Financialization marches on-Financial services and the securities markets-Implications for policy 3. Financial services, growth and development -The economy and financial services-Financing growth and development-Industrial policy-The evolution of financial services in the developing countries: 1950-1975-The first Oil Shock and financial services in the developing countries-The BCCI scandal 4. Financial services and the crisis of capitalism -Capitalism and its variants-Impact of the 2007/08 crisis-Capitalism and inequality-Can technology fix capitalism? 5. The future: making financial services subservient to the needs of society -Background and overview-Neoliberalism and finance-Financialization: a major challenge-Where do we go from here?-Conclusions
