Finance And Modernization
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Author | : Richard Sylla |
Publisher | : Cambridge University Press |
Total Pages | : 312 |
Release | : 2007-07-19 |
Genre | : History |
ISBN | : 9780521037983 |
By looking at a wide range of industrialized economies, including England, Belgium, Spain, Italy, Argentina, the United States, and "late developers" such as Russia, this book aims to show how important the state was in the development of financial systems. It examines the various factors that contributed to the emergence of diverse financial systems, and through comparative historical analysis draws together general themes, such as the inter-country differences in the mix of public and private finance, to produce a book that makes an unique contribution to financial and economic history.
Author | : Ghassan Moazzin |
Publisher | : Cambridge University Press |
Total Pages | : 355 |
Release | : 2022-07-07 |
Genre | : Business & Economics |
ISBN | : 1316517039 |
Explores how foreign banks financially connected modern China to international capital markets and the global economy.
Author | : Peter Brusov |
Publisher | : Springer |
Total Pages | : 576 |
Release | : 2018-11-11 |
Genre | : Business & Economics |
ISBN | : 331999686X |
This monograph is devoted to a modern theory of capital cost and capital structure created by this book’s authors, called the Brusov–Filatova–Orekhova (BFO) theory, and its application to the real economy. BFO theory promises to replace the traditional theory of capital cost and capital structure by Nobel laureates Modigliani and Miller. This new theory in particular, presents a possible explanation to the causes of the recent global financial crisis. The authors of the book describe the general theory of capital cost and capital structure that can be applied to corporations of arbitrary age (or with arbitrary lifetime) and investment projects with arbitrary duration. The authors illustrate their theory with examples from corporate practice and develop investment models that can be applied by companies in their financial operations. This updated second edition includes new chapters devoted to the application of the BFO theory in ratings, banking and other areas. The authors also provide a new approach to rating methodology highlighting the need for including financial flow discounting, the incorporation of rating parameters (in particular, financial ratios) into the modern theory of capital structure - BFO theory. This book aims to change our understanding of corporate finance, investments, taxation and rating procedures. The authors emphasize that the most used principles of financial management should be changed in accordance to BFO theory.
Author | : Richard Sylla |
Publisher | : Columbia University Press |
Total Pages | : 527 |
Release | : 2018-03-06 |
Genre | : Business & Economics |
ISBN | : 023154555X |
“A treasure trove for financial and public policy geeks . . . will also help lay readers go beyond the hit musical in understanding Hamilton’s lasting significance.” —Publishers Weekly While serving as the first treasury secretary from 1789 to 1795, Alexander Hamilton engineered a financial revolution. He established the treasury debt market, the dollar, and a central bank, while strategically prompting private entrepreneurs to establish securities markets and stock exchanges and encouraging state governments to charter a number of commercial banks and other business corporations. Yet despite a recent surge of interest in Hamilton, US financial modernization has not been fully recognized as one of his greatest achievements. This book traces the development of Hamilton’s financial thinking, policies, and actions through a selection of his writings. Financial historians and Hamilton experts Richard Sylla and David J. Cowen provide commentary that demonstrates the impact Hamilton had on the modern economic system, guiding readers through Hamilton’s distinguished career. It showcases Hamilton’s thoughts on the nation’s founding, the need for a strong central government, problems such as a depreciating paper currency and weak public credit, and the architecture of the financial system. His great state papers on public credit, the national bank, the mint, and manufactures instructed reform of the nation’s finances and jumpstarted economic growth. Hamilton practiced what he preached: he played a key role in the founding of three banks and a manufacturing corporation—and his deft political maneuvering and economic savvy saved the fledgling republic’s economy during the country’s first full-blown financial crisis in 1792. “A fascinating examination of Hamiltonian economics.” —The Washington Times
Author | : Steven J. Ericson |
Publisher | : Cornell University Press |
Total Pages | : 146 |
Release | : 2020-02-15 |
Genre | : History |
ISBN | : 1501746936 |
With a new look at the 1880s financial reforms in Japan, Steven J. Ericson's Financial Stabilization in Meiji Japan overturns widely held views of the program carried out by Finance Minister Matsukata Masayoshi. As Ericson shows, rather than constituting an orthodox financial-stabilization program—a sort of precursor of the "neoliberal" reforms promoted by the IMF in the 1980s and 1990s—Matsukata's policies differed in significant ways from both classical economic liberalism and neoliberal orthodoxy. The Matsukata financial reform has become famous largely for the wrong reasons, and Ericson sets the record straight. He shows that Matsukata intended to pursue fiscal retrenchment and budget-balancing when he became finance minister in late 1881. Various exigencies, including foreign military crises and a worsening domestic depression, compelled him instead to increase spending by running deficits and floating public bonds. Though he drastically reduced the money supply, he combined the positive and contractionary policies of his immediate predecessors to pull off a program of "expansionary austerity" paralleling state responses to financial crisis elsewhere in the world both then and now. Through a new and much-needed recalibration of this pivotal financial reform, Financial Stabilization in Meiji Japan demonstrates that, in several ways, ranging from state-led export promotion to the creation of a government-controlled central bank, Matsukata advanced policies that were more in line with a nationalist, developmentalist approach than with a liberal economic one. Ericson shows that Matsukata Masayoshi was far from a rigid adherent of classical economic liberalism.
Author | : Robert A. Eisenbeis |
Publisher | : Springer Science & Business Media |
Total Pages | : 221 |
Release | : 2013-11-27 |
Genre | : Business & Economics |
ISBN | : 1475752288 |
Financial systems around the world are undergoing a process of modernization due to many different forces. Advances in information technology, product and market innovations, and recent regional financial crises have contributed to this movement. As a result, evolution in the financial sector is leading to larger, more complex financial organizations that render inadequate the supervisory and regulatory structures currently in place. While some changes in regulatory policies have already occurred, the adaptation of supervisory oversight and regulation in the face of these new developments is expected to continue for many years to come. This book collects papers originally presented in September 1998 at the Financial Modernization and Regulation Conference co-sponsored by the Federal Reserve Banks of Atlanta and San Francisco. Revised before publication, the papers seek to identify the reasons for changes in the financial services sector, and the implications these changes pose for financial supervision and regulation. Taken together, the papers offer valuable insights on 1) the forces behind financial modernization; 2) the implications financial modernization poses for corporate structure, market discipline, and financial regulation; 3) how to price deposit insurance accurately to reflect banks' risk-taking; and 4) balancing private versus public interests and managing potentially conflicting public policy goals.
Author | : United States. Congress. House. Committee on Banking and Financial Services |
Publisher | : |
Total Pages | : 668 |
Release | : 1997 |
Genre | : Banks and banking |
ISBN | : |
Author | : David B. Sicilia |
Publisher | : University of Toronto Press |
Total Pages | : 204 |
Release | : 2021 |
Genre | : Business & Economics |
ISBN | : 1487509081 |
Expanding the historical understanding of the myriad ways in which the transfer of technology and business methods unfolded within East Asia, Strands of Modernization examines the translation of technologies among competing developing economies.
Author | : Peter Brusov |
Publisher | : Springer |
Total Pages | : 374 |
Release | : 2015-06-02 |
Genre | : Business & Economics |
ISBN | : 3319147323 |
This monograph is devoted to the modern theory of capital cost and capital structure and its application to the real economy. In particular, it presents a possible explanation to the causes of global financial crisis. The authors of the book modify the theory of Nobel Prize winners Modigliani and Miller to describe an alternative theory of capital cost and capital structure that can be applied to corporations with arbitrary lifetime and investment projects with arbitrary duration. The authors illustrate their theory with examples from corporate practice and develop investment models that can be applied by companies in their financial operations.
Author | : Ronald Inglehart |
Publisher | : Princeton University Press |
Total Pages | : 468 |
Release | : 1997-05-25 |
Genre | : History |
ISBN | : 9780691011806 |
To demonstrate the powerful links between belief systems and political and socioeconomic variables, this book draws on the World Values Surveys, a unique database that looks at the impact of mass publics on political and social life.