The Global Financial System 1750 2000
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Author | : Larry Allen |
Publisher | : Reaktion Books |
Total Pages | : 268 |
Release | : 2004-03-02 |
Genre | : Business & Economics |
ISBN | : 1861895704 |
This book traces the evolution of the highly integrated global financial system from 1750 to the present. It examines the corporate form of business organization in the 18th century that saw an explosion of growth in the 19th, which facilitated the international movement of capital. The author also deals with the parallel growth of financial markets and explains how the need to finance public debts paved the way for stock markets as well as outlining the role of private merchant bankers, who originated as international bankers with family-run offices across Europe. He charts the development of banks into public corporations and follows the evolution of modern paper money, explaining the emergence of institutions such as the International Monetary Fund and the World Bank. While tracing the development of foreign-exchange markets and the history of trading blocs, the book also examines how economic powers such as Britain and France used access to capital to wield power in less-developed parts of the world. Finally, a history of financial crises is presented, revealing how economic shocks reverberate from one country to another today through the global financial network.
Author | : Larry Allen |
Publisher | : |
Total Pages | : 256 |
Release | : 2001 |
Genre | : |
ISBN | : |
Author | : Larry Allen |
Publisher | : Reaktion Books |
Total Pages | : 228 |
Release | : 2005 |
Genre | : Business & Economics |
ISBN | : 9781861892423 |
"This book describes how, after the end of World War II, powerful corporations began to lobby governments in an effort to reduce the perceived constraints of regulation. Since the 1970s these voices have become increasingly influential, as governments worldwide have adopted free-market policies, reduced economic regulation and promoted the virtues of free-enterprise capitalism." "The Global Economic System since 1945 presents a fresh synthesis of economic history and theory. For the specialist, it will provide a useful reminder that the economy needs to be looked at from different angles, while the general reader will find a fascinating and impartial description of the current state of the global economy - as well as hints on what to look for when scanning the economic horizon for signs of inclement weather."--BOOK JACKET.
Author | : |
Publisher | : Academic Press |
Total Pages | : 635 |
Release | : 2012-12-17 |
Genre | : Business & Economics |
ISBN | : 0124058981 |
Understanding twenty-first century global financial integration requires a two-part background. The Handbook of Key Global Financial Markets, Institutions, and Infrastructure begins its description of how we created a financially-intergrated world by first examining the history of financial globalization, from Roman practices and Ottoman finance to Chinese standards, the beginnings of corporate practices, and the advent of efforts to safeguard financial stability. It then describes the architecture itself by analyzing its parts, such as markets, institutions, and infrastructure. The contributions of sovereign funds, auditing regulation, loan markets, property rights, compensation practices, Islamic finance, and others to the global architecture are closely examined. For those seeking substantial, authoritative descriptions and summaries, this volume will replace books, journals, and other information sources with a single, easy-to-use reference work. Substantial articles by top scholars sets this volume apart from other information sources Diverse international perspectives result in new opportunities for analysis and research Rapidly developing subjects will interest readers well into the future
Author | : Larry Allen |
Publisher | : Reaktion Books |
Total Pages | : 274 |
Release | : 2013-06-01 |
Genre | : Business & Economics |
ISBN | : 1780231288 |
From Greece scrambling to meet Eurozone austerity measures to America’s sluggish job growth, there is every indication that the world has not recovered from the economic implosion of 2008. And for many of us, the details of what led to the recession—and why it has continued—remain murky. Economic historian Larry Allen clears up the subject in The Global Economic Crisis, offering an insightful and nonpartisan chronology of events and their consequences. Illuminating the interlocked economic processes that lay beneath the crisis, he analyzes the changing nature of the global financial system, central bank policies, housing bubbles, deregulation, sovereign debt crises, and more. Allen begins the timeline with the economic crisis in Japan in the late 1990s, asking whether Japan’s experience could be an indicator of the outcome of the recession and what it can teach us about managing a sluggish economy. He then takes a comparative look at the economies of Brazil, China, and India. Throughout, he argues that many elements have contributed to the ongoing crisis, including the introduction of the euro, the growth of new financial instruments such as securitization, collateralized debt obligations and credit default swaps, interest rate policies, and the housing boom and subprime mortgage fiasco. Lucid and informative, The Global Economic Crisis provides an impartial explanation to anyone seeking to understand the current state—and future—of the world’s economy.
Author | : Larry Allen |
Publisher | : Reaktion Books |
Total Pages | : 0 |
Release | : 2013-04-01 |
Genre | : Business & Economics |
ISBN | : 9781780230924 |
From Greece scrambling to meet Eurozone austerity measures to America’s sluggish job growth, there is every indication that the world has not recovered from the economic implosion of 2008. And for many of us, the details of what led to the recession—and why it has continued—remain murky. Economic historian Larry Allen clears up the subject in The Global Economic Crisis, offering an insightful and nonpartisan chronology of events and their consequences. Illuminating the interlocked economic processes that lay beneath the crisis, he analyzes the changing nature of the global financial system, central bank policies, housing bubbles, deregulation, sovereign debt crises, and more. Allen begins the timeline with the economic crisis in Japan in the late 1990s, asking whether Japan’s experience could be an indicator of the outcome of the recession and what it can teach us about managing a sluggish economy. He then takes a comparative look at the economies of Brazil, China, and India. Throughout, he argues that many elements have contributed to the ongoing crisis, including the introduction of the euro, the growth of new financial instruments such as securitization, collateralized debt obligations and credit default swaps, interest rate policies, and the housing boom and subprime mortgage fiasco. Lucid and informative, The Global Economic Crisis provides an impartial explanation to anyone seeking to understand the current state—and future—of the world’s economy.
Author | : Paul Blustein |
Publisher | : PublicAffairs |
Total Pages | : 449 |
Release | : 2003-05-08 |
Genre | : Political Science |
ISBN | : 0786724692 |
Lauded by reviewers and scholars alike, Paul Blustein's The Chastening examines the role of the International Monetary Fund in the series of economic crises that rocked the globe in the last decade. Based on hundreds of interviews with officials at the IMF, the World Bank, the U.S. Treasury, the Federal Reserve, the White House, and many foreign governments, The Chastening offers a behind-the-scenes look at the Fund during an extraordinarily turbulent period in modern economic history and at a time when the IMF has become the object of intense political controversy. While the IMF and its overseers at the Treasury and the Fed have sought to cultivate an image of economic masterminds coolly dispensing effective economic remedies, the reality is that as markets were sinking and defaults looming, the guardians of global financial stability were often floundering, improvising, and feuding among themselves. The Chastening casts serious doubt on the IMF's ability to combat of investor panics at a time when massive flows of money traverse borders and oceans. A readable, compelling account of the deeply flawed workings of the international political system, The Chastening is vital reading for students and scholars of international diplomacy, government, and economic and public policy.
Author | : Peter Isard |
Publisher | : Cambridge University Press |
Total Pages | : 388 |
Release | : 2005 |
Genre | : Business & Economics |
ISBN | : 9780521605076 |
Economic globalization has given rise to frequent and severe financial crises in emerging market economies. Other countries are also unsuccessful in their efforts to generate economic growth and reduce poverty. This book provides perspectives on various aspects of the international financial system that contribute to financial crises and growth failures, and discusses the remedies that economists have proposed for addressing the underlying problems. It also sheds light on a central feature of the international financial system that remains mysterious to many economists and most non-economists: the activities of the International Monetary Fund and the factors that influence its effectiveness. Dr Isard offers policy perspectives on what countries can do to reduce their vulnerabilities to financial crises and growth failures, and a number of general directions for systemic reform. The breadth of the agenda provides grounds for optimism that the international financial system can be strengthened considerably without revolutionary change.
Author | : Carmen M. Reinhart |
Publisher | : Princeton University Press |
Total Pages | : 513 |
Release | : 2011-08-07 |
Genre | : Business & Economics |
ISBN | : 0691152640 |
An empirical investigation of financial crises during the last 800 years.
Author | : International Monetary Fund. Monetary and Capital Markets Department |
Publisher | : International Monetary Fund |
Total Pages | : 85 |
Release | : 2019-06-24 |
Genre | : Business & Economics |
ISBN | : 1498321119 |
This Financial System Stability Assessment paper discusses that Canada has enjoyed favorable macroeconomic outcomes over the past decades, and its vibrant financial system continues to grow robustly. However, macrofinancial vulnerabilities—notably, elevated household debt and housing market imbalances—remain substantial, posing financial stability concerns. Various parts of the financial system are directly exposed to the housing market and/or linked through housing finance. The financial system would be able to manage severe macrofinancial shocks. Major deposit-taking institutions would remain resilient, but mortgage insurers would need additional capital in a severe adverse scenario. Housing finance is broadly resilient, notwithstanding some weaknesses in the small non-prime mortgage lending segment. Although banks’ overall capital buffers are adequate, additional required capital for mortgage exposures, along with measures to increase risk-based differentiation in mortgage pricing, would be desirable. This would help ensure adequate through-the cycle buffers, improve mortgage risk-pricing, and limit procyclical effects induced by housing market corrections.