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: 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: Dominik Maltritz; Michael Berlemann Название: Financial Crises, Sovereign Risk and the Role of Institutions ISBN: 3319031031 ISBN-13(EAN): 9783319031033 Издательство: Springer Рейтинг: Цена: 16769.00 р. Наличие на складе: Есть у поставщика Поставка под заказ.
Описание: In addition, it became apparent that currency crises and banking crises often occur together and are closely related to sovereign debt crises and defaults.The present book contains new research on various important issues related to financial crises and sovereign default risk by leading experts in the field.
Автор: Dominik Maltritz; Michael Berlemann Название: Financial Crises, Sovereign Risk and the Role of Institutions ISBN: 3319353616 ISBN-13(EAN): 9783319353616 Издательство: Springer Рейтинг: Цена: 16769.00 р. Наличие на складе: Есть у поставщика Поставка под заказ.
Описание: In addition, it became apparent that currency crises and banking crises often occur together and are closely related to sovereign debt crises and defaults.The present book contains new research on various important issues related to financial crises and sovereign default risk by leading experts in the field.
Автор: Tun?er Название: Sovereign Debt and International Financial Control ISBN: 1137378530 ISBN-13(EAN): 9781137378538 Издательство: Springer Рейтинг: Цена: 13275.00 р. Наличие на складе: Есть у поставщика Поставка под заказ.
Описание: This book provides a history of sovereign debt, defaults and international financial control in the Middle East and the Balkans between 1870 and 1914.
Описание: This book focuses on European banks and analyzes many different aspects of a debt crisis. It covers the cause and the various implications that results from it, allowing a deeper understanding of the effect to enable one to formulate prevention measures and diversification strategies.
Описание: This book is an examination of the sovereign risk and debt limit issues facing the Eurozone (crisis/post crisis) and the need for alternative mechanisms to fund the capital investment requirements of the region.
Автор: Heffernan Название: Sovereign Risk Analysis (RLE Banking & Finance) ISBN: 0415538556 ISBN-13(EAN): 9780415538558 Издательство: Taylor&Francis Рейтинг: Цена: 22202.00 р. Наличие на складе: Есть у поставщика Поставка под заказ.
Описание:
Directed both at students of international finance and practitioners in the field, the book stresses the importance of treating the analysis of sovereign risk in a more general framework than is typically the case, identifying the components of both the demand and supply of sovereign loans.
The author also discusses the link between the unique aspects of sovereign lending, the interdependence of the international banking system and the potential instability in the world financial system.
Автор: Balding, Christopher Название: Sovereign wealth funds ISBN: 0199842906 ISBN-13(EAN): 9780199842902 Издательство: Oxford Academ Рейтинг: Цена: 6097.00 р. Наличие на складе: Есть у поставщика Поставка под заказ.
Описание: Sovereign wealth funds are a growing and dynamic force in international finance. The shifting international economic relations from capital rich states gives them new power in influencing the global agenda. Despite controlling trillions of dollars in the biggest companies in the world, little is known about the opaque funds of oil rich and non-democratic governments. This is the first book to compile a history of sovereign wealth funds recounting the Abu Dhabi Investment Authority's involvement with the scandal-plagued BCCI bank and Chinese arms exports to Iran. By constructing a history within the proper context of oil driven surpluses and large inflationary pressures with no international investment framework, this book explains the development and growth of sovereign wealth funds. The economics of capital surplus countries and investment strategies are examined in order to better understand sovereign wealth fund creation and growth. In a straightforward and accessible style, the author examines the complex and amazing growth of an unknown group of investors controlling trillions of dollars worldwide.
Автор: Finch Название: Emerging Markets and Sovereign Risk ISBN: 1137450657 ISBN-13(EAN): 9781137450654 Издательство: Springer Рейтинг: Цена: 15372.00 р. Наличие на складе: Есть у поставщика Поставка под заказ.
Описание: Emerging Markets and Sovereign Risk provides case studies, commentary and analysis on the financial risk management and measurement in the context of frontier and developing counties from international experts covering three key areas of emerging market investments, the rating sovereign risk and managing sovereign risk.
Автор: Norbert Gaillard Название: A Century of Sovereign Ratings ISBN: 1489990836 ISBN-13(EAN): 9781489990839 Издательство: Springer Рейтинг: Цена: 14673.00 р. Наличие на складе: Есть у поставщика Поставка под заказ.
Описание: This book examines the debt of sovereign nations. It explains the methodology behind how rating agencies evaluate nations and looks at sovereign defaults from the Great Depression to the Asian Crisis of the 1990s as well as the recent financial crisis.
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