Although banking and sovereign debt crises are not unusual, the crisis that has unfolded across the world since 2007 has been unique in both its scale and scope. It has also been unusual in being both triggered by, and mainly affecting, developed economies. Starting with the US subprime mortgage crisis, and the recession in 2007-2009, the problem soon erupted into financial crisis in Europe. A few of these countries came to the brink of bankruptcy, and were rescued by the EU and the IMF on the condition they adopt austerity measures. The detrimental social effects of the crisis in both the US and Europe are still emerging.
Although there have been several studies published on the US crisis in particular, there has so far been an absence of an accessible comparative overview of both crises. This insightful text aims to fill this gap, offering a critical overview of causes, policy responses, effects and future implications. Starting with the historical context and mutation of the crisis, the book explores the policies, regulations, and governance reforms that have been implemented to cope with the US subprime mortgage crisis. A parallel analysis considers the causes of the European sovereign debt crisis and the responses of the European Union (EU), examining why the EU is as yet unable to resolve the crisis. This book is supported with eResources that include essay questions and class discussion questions in order to assist students in their understanding.
This uniquely comprehensive and readable overview will be of interest and relevance to those studying financial crises, financial governance, international economics and international political economy.
Автор: Paudyn Название: Credit Ratings and Sovereign Debt ISBN: 1137302763 ISBN-13(EAN): 9781137302762 Издательство: Springer Рейтинг: Цена: 12577.00 р. Наличие на складе: Есть у поставщика Поставка под заказ.
Описание: Bartholomew Paudyn investigates how governments across the globe struggle to constitute the authoritative knowledge underpinning the political economy of creditworthiness and what the (neoliberal) `fiscal normality` means for democratic governance.
Автор: Joseph Huber Название: Sovereign Money ISBN: 3319421735 ISBN-13(EAN): 9783319421735 Издательство: Springer Рейтинг: Цена: 3492.00 р. Наличие на складе: Есть у поставщика Поставка под заказ.
Описание: In coming to terms with the still smoldering financial crisis, little attention has been paid to the flaws within our monetary system and how these flaws lie at the root of the crisis.
This book provides an introduction and critical assessment of the current monetary system. It begins with an up to date account of the workings of today’s system of state-backed ‘bankmoney’, illustrating the various forms and issuers of money, and discussing money theory and fallacy past and present. It also looks at related economic challenges such as inflation and deflation, asset inflation and bubble building that lead to market instability and examines the ineffectual monetary policies and primary credit markets that are failing to reach some sort of self-limiting equilibrium.
In order to fix our financial system, we first need to understand its limitations and the flaws in current monetary and regulatory policy and then correct them. The concluding part of this book is dedicated to the latter, advocating a move towards the sovereign monetary prerogatives of issuing the entire stock of official money and benefitting from the gain thereof (seigniorage). The author argues that these functions should be made the sole responsibility of independent and impartial central banks with full control over the stock of money (not the uses of money) on the basis of a legal mandate that would be more detailed than is the case today. This includes a thorough separation of monetary and fiscal powers, and of both from banking and wider financing functions.
This book provides a welcome addition to the banking literature, guiding readers through the inner workings of our monetary and regulatory environments and proposing a new way forward that will better protect our economy from financial instability and crisis.
Автор: Krasner Название: Power, the State, and Sovereignty ISBN: 0415774829 ISBN-13(EAN): 9780415774826 Издательство: Taylor&Francis Рейтинг: Цена: 22202.00 р. Наличие на складе: Есть у поставщика Поставка под заказ.
Описание: Stephen Krasner has been one of the most influential theorists within international relations and international political economy over the past few decades. This book is a collection of his key academic work as well as a meditation on his time in office.
Автор: Taylor-Gooby Peter Название: Double Crisis of the Welfare State and What We Can Do About ISBN: 113732810X ISBN-13(EAN): 9781137328106 Издательство: Springer Рейтинг: Цена: 6288.00 р. Наличие на складе: Есть у поставщика Поставка под заказ.
Описание: This book analyses the immediate challenges from headlong cuts, root-and-branch restructuring and the longer-term pressures from population ageing. It demonstrates that a more humane and generous welfare state that will build social inclusiveness is possible and shows how it can be achieved.
Автор: Pepino Название: Sovereign Risk and Financial Crisis ISBN: 113751163X ISBN-13(EAN): 9781137511638 Издательство: Springer Рейтинг: Цена: 9781.00 р. Наличие на складе: Есть у поставщика Поставка под заказ.
Описание: This book provides an original and timely insight into the role that the domestic and international political economy played in the Eurozone sovereign debt crisis, combining an innovative theoretical framework with in-depth bond market analysis.
Автор: Starke Peter Название: Welfare State as Crisis Manager ISBN: 0230285252 ISBN-13(EAN): 9780230285255 Издательство: Springer Рейтинг: Цена: 10760.00 р. Наличие на складе: Есть у поставщика Поставка под заказ.
Описание: This book presents an in-depth analysis of social policy reactions to international economic shocks in four different welfare states, over a 40-year period. It reveals how expansion and retrenchment are shaped by domestic politics and existing welfare state institutions.
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