Economic recessions, social networks, environmental damage in several large countries (eg. China, Brazil, U.S.), the Global Financial Crisis of 2007-2015 and cross-border spillovers continue to significantly affect economic systems, financial markets, social structures and environmental compliance worldwide. These have rekindled economists' and policy-makers' interest in the relationships among constitutions, risk regulation, foreign aid, political systems, government size, credit expansion and sustainable growth. Risk regulation remains highly ineffective as manifested by the failures of new financial regulations and government stimulus programs that were implemented during 2007-2020 in many developed countries and emerging markets countries.
This book, the first of two volumes, addresses these issues in the context of the role of constitutional economics and economic psychology as tools for national and global sustainable growth and risk management. Furthermore, this volume analyzes the often symbiotic relationship between alternative sets of legal-institutional-constitutional rules that constrain the choices and activities of economic and political agents on one hand, and sustainable growth, financial regulation and the risk management of financial institutions on the other; and reviews the effects of constitutions and legal institutions on market dynamics (real estate; fixed-income, stocks; etc.) including volatility, market depth and liquidity. This book will help researchers develop better artificial intelligence and decision-systems models of geopolitical risk, public policy and international capital flows, all of which are increasingly relevant to investment managers, boards-of-directors and government officials.
Economic recessions, environmental damage in several large countries (eg. China, Brazil, U.S., etc.), the Global Financial Crisis of 2007-2015, the COVID-19 Pandemic, cross-border spillovers and the failures of risk-regulation/government-stimulus programs (enacted during 2007-2020) have significantly affected economic systems, financial markets, social networks and environmental compliance worldwide, especially in emerging markets. The foregoing raises significant economic psychology and policy-making questions about the causes and measurement of cross-border spillovers (from developed countries to emerging markets), and evolving relationships among cross-border spillovers, legal/regulatory institutions, foreign aid, political systems, government size, social-welfare, fintech-platforms, asset-market dynamics (volatility, market-depth, liquidity, pension/retirement, remittances, business/consumer confidence; etc.) and sustainable growth. This book is the first of two volumes, re-defines geopolitical risk and addresses these issues in the context of the role of constitutional economics and economic psychology (especially households and companies) as tools for global sustainable growth and risk management. This book can help researchers develop better Artificial Intelligence, Complex Systems and decision-theory models of geopolitical risk, public policy, asset-pricing, global corporate strategy and international capital flows, all of which are increasingly relevant to investment managers, corporate executives, boards-of-directors and government officials.
Michael I. C. Nwogugu is an author, serial entrepreneur and consultant who has held senior management, Board of Director and Advisory Board Member positions in companies in the U.S., Europe, Asia and Africa. Mr. Nwogugu wrote the following books: Risk In the Global Real Estate Market (2012); Illegal File-sharing Networks, Digital Goods Pricing And Decision Analysis (2016); Anomalies In Net Present Value, Returns And Polynomials; And Regret Theory In Decision-Making (2017); Indices, Index Funds And ETFs - Exploring HCI, Nonlinear Risk And Homomorphisms (2019); Complex Systems, Multi-Sided Incentives And Risk Perception In Organizations (2019); and Earnings Management, Fintech-Driven Incentives and Sustainable Growth: On Complex Systems, Legal and Mechanism Design Factors (2020). Mr. Nwogugu's research articles have been cited in more than twenty top science journals. Mr. Nwogugu earned degrees from the University of Nigeria (Nigeria); City College Of New York (USA); and Columbia University (New York City, USA).
