Download or read book The Domestic Political Origins of Global Financial Standards written by Richard W. Carney and published by . This book was released on 2012 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: America's securities markets constitute a central distinguishing feature of its brand of capitalism. What are their political origins? In contrast to arguments which point to business owners as determining the institutional foundations of America's political economy, this paper argues that farmers played a leading role. Indeed, the rules and regulations governing U.S. securities markets were created in opposition to the wishes of business owners, and without farmers' political influence, the U.S. may have developed a financial system similar to that found in continental Europe. Moreover, to the extent that U.S. securities regulations serve as a template for international financial standards, the paper shows that the humble American farmer inadvertently contributed to the financialization of the modern global economy.

Download or read book The Domestic Political Origins of Global Financial Standards written by Richard W. Carney and published by . This book was released on 2010 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book On Again Off Again written by Yu Wai Li and published by . This book was released on 2013 with total page 435 pages. Available in PDF, EPUB and Kindle. Book excerpt: What explains the changing and sometimes conflicting policy tendencies and opening outcomes of China's financial opening? Despite much pro-opening official rhetoric, liberalizing initiatives are often delayed and suspended, while some experience occasional tinkering and even reversal. These dynamics can be seen in three cases of China's financial opening over the last decade. Outbound portfolio investment and securities issuance by foreign companies continue to meet substantial policy barriers. Renminbi internationalization, on the other hand, progresses unevenly with remarkable advances in trade settlement and offshore bond issuance, but much less on development of financial products. To make sense of this puzzle, this study argues that different policy tendencies (reversal, adherence to the status quo, and opening) result from the interplay between the opening advocates and dissenting parties in policy making. Financial opening is not only driven by central bureaucratic actors as most studies argue, but also by financial interests and the local authorities of financial centers acting in concert as pro-opening coalitions/groupings. Motivated by anticipated material gains and political interests, the local and financial constituents shape policy agendas and priorities, defining and framing liberalizing initiatives in ways that appeal to bureaucratic entities. They also seek wider political support by capitalizing on connections with the top decision elites. To allay opposition and maintain political and technical consensus, the opening advocates offer concessions to dissenting parties over implementation specifics like scope, pace, location, and/or technical standards and arrangements. This, however, does not always succeed. Dissenting parties who recognize adverse distributional and policy risk implications of the opening initiatives might be disinclined to accept the concessionary offers. These result in policy tendencies other than opening. This argument contributes to the scholarship on international and Chinese political economy in three major ways. First, for IPE literature, it presents a systematic exposition of an empirically significant country case of financial opening, covering various facets of this process that are usually examined in isolation in the literature. Second, for scholarship on Chinese political economy, it affirms the importance of local authorities and financial interests and demonstrates the increasingly pluralistic nature of financial policy making in China beyond the central bureaucracy. Third, for both sets of literatures, the domestic origin and dynamics of Chinese policy change point to the political economic constraints on liberalization at home, shedding light on the recent debate about the country's international financial outreach and power.

Download or read book Development Centre Studies The Making of Global Finance 1880 1913 written by Flandreau Marc and published by Development Centre of the Organisation for Economic Co-operation and Development. This book was released on 2004-05-07 with total page 158 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book traces the roots of global financial integration in the first “modern” era of globalisation from 1880 to 1913. It analyses the direction, destinations and origins of international financial flows in order to determine the domestic policy choices that either attracted or deterred such flows to developing countries. The book deposes the idea that the gold standard and other institutional arrangements were the key to attracting foreign investment, pointing to the stability and probity of political systems as much more important. One of the major conclusions is that the successful management of international financial integration depends primarily on broad institutional and political factors, as well as on financial policies, rather than simply opening or closing individual economies to the international winds. The Making of Global Finance: 1880-1913 can serve as a valuable tool to current-day policy dilemmas by using historical data to see which policies in the past led to enhanced international financing for development. It also includes historical data that will interest all scholars of economics and economic history, as well as the casual reader.

Download or read book The Global Financial Crisis written by Dick K. Nanto and published by DIANE Publishing. This book was released on 2009 with total page 127 pages. Available in PDF, EPUB and Kindle. Book excerpt: Contents: (1) Recent Developments and Analysis; (2) The Global Financial Crisis and U.S. Interests: Policy; Four Phases of the Global Financial Crisis; (3) New Challenges and Policy in Managing Financial Risk; (4) Origins, Contagion, and Risk; (5) Effects on Emerging Markets: Latin America; Russia and the Financial Crisis; (6) Effects on Europe and The European Response: The ¿European Framework for Action¿; The British Rescue Plan; Collapse of Iceland¿s Banking Sector; (7) Impact on Asia and the Asian Response: Asian Reserves and Their Impact; National Responses; (8) International Policy Issues: Bretton Woods II; G-20 Meetings; The International Monetary Fund; Changes in U.S. Reg¿s. and Regulatory Structure; (9) Legislation.

Download or read book Banks on the Brink written by Mark Copelovitch and published by Cambridge University Press. This book was released on 2020-02-20 with total page 257 pages. Available in PDF, EPUB and Kindle. Book excerpt: This innovative analysis investigates a complex issue of tremendous economic and political importance: what makes some countries vulnerable to banking crises, while others emerge unscathed? Banks on the Brink explains why some countries are more vulnerable to banking crises than others. Copelovitch and Singer highlight the effects of two variables in combination: foreign capital inflows and the relative prominence of securities markets in the domestic financial system. Foreign capital is the fuel for banks' potentially dangerous behavior, and banks are more likely to take on excessive risks when operating in a financial system with large securities markets. The book analyzes over thirty years of data and provides historical case studies of two key countries, Canada and Germany, each of which explores how political decisions in the 19th and early-20th centuries continue to affect financial stability today. The analyses in this book have crucial policy implications, identifying potential regulations and policies that can work to protect banking systems against future crises.

Download or read book Global Waves of Debt written by M. Ayhan Kose and published by World Bank Publications. This book was released on 2021-03-03 with total page 403 pages. Available in PDF, EPUB and Kindle. Book excerpt: The global economy has experienced four waves of rapid debt accumulation over the past 50 years. The first three debt waves ended with financial crises in many emerging market and developing economies. During the current wave, which started in 2010, the increase in debt in these economies has already been larger, faster, and broader-based than in the previous three waves. Current low interest rates mitigate some of the risks associated with high debt. However, emerging market and developing economies are also confronted by weak growth prospects, mounting vulnerabilities, and elevated global risks. A menu of policy options is available to reduce the likelihood that the current debt wave will end in crisis and, if crises do take place, will alleviate their impact.

Download or read book The Handbook of the Political Economy of Financial Crises written by Martin H. Wolfson and published by Oxford University Press. This book was released on 2013-01-07 with total page 784 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Great Financial Crisis that began in 2007 reminds us with devastating force that financial instability and crises are endemic to capitalist economies, and that it is only strong and dynamically-changing financial regulations that can keep the damage caused by these crises within bounds. The international financial system and individual national economies, including that of the United States, are suffering from the aftermath of the worst financial crisis since the Great Depression. Economists are struggling to understand the origins and implications of the crisis. The Handbook of the Political Economy of Financial Crises uses a political economy theoretical framework to analyze the crisis. After an opening chapter that describes the dimensions of the current crisis, the next section provides relevant theoretical frameworks. Subsequent sections apply these theoretical frameworks to analyze the background, dimensions, and implications of the crisis for the world economy. Leading scholars push forward our understanding of how and why our international and domestic economies are susceptible to financial breakdown and what can be done to mitigate this problem in the future. The methodology throughout applies theoretical concepts in the context of an historical and institutional understanding of the real world. By emphasizing the historical and institutional aspects of financial crises, the authors advance economic knowledge and provide insights into how we can manage our financial system to improve the lives of ordinary people.

Download or read book Today s Economic Issues written by Nancy S. Lind and published by Bloomsbury Publishing USA. This book was released on 2016-08-15 with total page 402 pages. Available in PDF, EPUB and Kindle. Book excerpt: What are the real differences between the Democrats and the Republicans on major economic issues that influence the character and vitality of the American economy? This volume answers this question in a thorough, nonpartisan, and evenhanded fashion. Both the Democratic and Republican parties proclaim that they have the best interests of the nation and its people at heart. Both are also adamant that they have the best proposals and positions on economic policies, including taxation, spending priorities, wages, business regulation, and other influences on economic growth and household finances. This volume carefully examines the two parties' respective policies, providing a detailed yet readable and understandable look at how the parties agree, disagree, and find compromise on the broad range of problems and issues facing American society in the 21st century. Each entry includes an infographic that offers bulleted "at-a-glance" summaries of the two parties' positions on each issue today, an "Issue Overview" providing basic definitions and background for understanding the debate on each issue, and a main entry that explains prevailing party sentiments, the diversity of opinion within each party, and the shifts in party position on that issue over time. Selected entries also feature informative sidebars that supply additional content, such as primary documents that showcase the viewpoints of key political figures and institutions or biographical profiles of individuals who have helped shape their party's policies on the issue in question.

Download or read book The Federal Reserve System Purposes and Functions written by Board of Governors of the Federal Reserve System and published by . This book was released on 2002 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Provides an in-depth overview of the Federal Reserve System, including information about monetary policy and the economy, the Federal Reserve in the international sphere, supervision and regulation, consumer and community affairs and services offered by Reserve Banks. Contains several appendixes, including a brief explanation of Federal Reserve regulations, a glossary of terms, and a list of additional publications.

Download or read book Banking Law and Financial Regulation in the UK and EU written by Pierre de Gioia Carabellese and published by Taylor & Francis. This book was released on 2024-06-28 with total page 438 pages. Available in PDF, EPUB and Kindle. Book excerpt: Banking Law and Financial Regulation in the UK and EU seeks to blend orthodox topics covered within the banking and financial law syllabus, such as sources of banking and financial law, financial markets, financial and banking institutions, financial transactions, and banking and financial insolvency, with a careful analysis of emerging issues and more contemporary topics. This advanced-level textbook offers a new format for the study of banking and financial law, placing it within the wider context of economic development. As such, two elements are integral to this new methodology: the rise of techno-banking and digitalisation of the financial sector, and Brexit. Departing from the approaches of more traditional textbooks in this area, the book also takes a comparative approach to UK and EU banking law, highlighting the legal consequences of the UK’s exit from the EU. Aspects of human rights are integrated throughout and current debates and developments around financial crises – the advancement of technological innovations in the banking sector and contemporary topics, such as health crises, energy, and ESG and the environment – is taken into account to provide the reader with the opportunity to develop their own autonomous and broader understanding of the various concepts. Banking Law and Financial Regulation in the UK and EU will be a valuable text for students taking advanced undergraduate and postgraduate-level courses in banking law and financial law, as well as practising lawyers, managers and accountants.

Download or read book The Politics of Global Regulation written by Walter Mattli and published by Princeton University Press. This book was released on 2009-05-17 with total page 316 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Regulation by public and private organizations can be hijacked by special interests or small groups of powerful firms, and nowhere is this easier than at the global level ... This is the first book to examine systematically how and why such hijacking or 'regulatory capture' happens, and how it can be averted."--P. [iv] of cover.

Download or read book Debating the Global Financial Architecture written by Leslie Elliott Armijo and published by State University of New York Press. This book was released on 2012-02-01 with total page 321 pages. Available in PDF, EPUB and Kindle. Book excerpt: Debating the Global Financial Architecture opens up the contemporary debate surrounding the reform of the "global financial architecture." Economists and political scientists explore the economic and technical content of alternative global financial regimes as well as the political processes through which such changes are negotiated. The contributors, though diverse, jointly fear that rapid removal of the remaining controls on private international financial transactions risks systematic crisis. By initiating a cross-disciplinary discussion, they hope to see the politics of global financial design examined more honestly, yet without discarding or devaluing a solid economic analysis of global money and investment flows.

Download or read book The Global Findex Database 2017 written by Asli Demirguc-Kunt and published by World Bank Publications. This book was released on 2018-04-19 with total page 228 pages. Available in PDF, EPUB and Kindle. Book excerpt: In 2011 the World Bank—with funding from the Bill and Melinda Gates Foundation—launched the Global Findex database, the world's most comprehensive data set on how adults save, borrow, make payments, and manage risk. Drawing on survey data collected in collaboration with Gallup, Inc., the Global Findex database covers more than 140 economies around the world. The initial survey round was followed by a second one in 2014 and by a third in 2017. Compiled using nationally representative surveys of more than 150,000 adults age 15 and above in over 140 economies, The Global Findex Database 2017: Measuring Financial Inclusion and the Fintech Revolution includes updated indicators on access to and use of formal and informal financial services. It has additional data on the use of financial technology (or fintech), including the use of mobile phones and the Internet to conduct financial transactions. The data reveal opportunities to expand access to financial services among people who do not have an account—the unbanked—as well as to promote greater use of digital financial services among those who do have an account. The Global Findex database has become a mainstay of global efforts to promote financial inclusion. In addition to being widely cited by scholars and development practitioners, Global Findex data are used to track progress toward the World Bank goal of Universal Financial Access by 2020 and the United Nations Sustainable Development Goals. The database, the full text of the report, and the underlying country-level data for all figures—along with the questionnaire, the survey methodology, and other relevant materials—are available at www.worldbank.org/globalfindex.

Download or read book Government Finance Statistics Manual 2014 written by Mrs.Sage De Clerck and published by International Monetary Fund. This book was released on 2015-03-10 with total page 470 pages. Available in PDF, EPUB and Kindle. Book excerpt: The 2007–09 international financial crisis underscored the importance of reliable and timely statistics on the general government and public sectors. Government finance statistics are a basis for fiscal analysis and they play a vital role in developing and monitoring sound fiscal programs and in conducting surveillance of economic policies. The Government Finance Statistics Manual 2014 represents a major step forward in clarifying the standards for compiling and presenting fiscal statistics and strengthens the worldwide effort to improve public sector reporting and transparency.

Download or read book Global Financial Stability Report October 2019 written by International Monetary Fund. Monetary and Capital Markets Department and published by International Monetary Fund. This book was released on 2019-10-16 with total page 109 pages. Available in PDF, EPUB and Kindle. Book excerpt: The October 2019 Global Financial Stability Report (GFSR) identifies the current key vulnerabilities in the global financial system as the rise in corporate debt burdens, increasing holdings of riskier and more illiquid assets by institutional investors, and growing reliance on external borrowing by emerging and frontier market economies. The report proposes that policymakers mitigate these risks through stricter supervisory and macroprudential oversight of firms, strengthened oversight and disclosure for institutional investors, and the implementation of prudent sovereign debt management practices and frameworks for emerging and frontier market economies.

Download or read book All the Devils Are Here written by Bethany McLean and published by Penguin. This book was released on 2011-08-30 with total page 503 pages. Available in PDF, EPUB and Kindle. Book excerpt: Hailed as "the best business book of 2010" (Huffington Post), this New York Times bestseller about the 2008 financial crisis brings the devastation of the Great Recession to life. As soon as the financial crisis erupted, the finger-pointing began. Should the blame fall on Wall Street, Main Street, or Pennsylvania Avenue? On greedy traders, misguided regulators, sleazy subprime companies, cowardly legislators, or clueless home buyers? According to Bethany McLean and Joe Nocera, two of America's most acclaimed business journalists, many devils helped bring hell to the economy. All the Devils Are Here goes back several decades to weave the hidden history of the financial crisis in a way no previous book has done. It explores the motivations of everyone from famous CEOs, cabinet secretaries, and politicians to anonymous lenders, borrowers, analysts, and Wall Street traders. It delves into the powerful American mythology of homeownership. And it proves that the crisis ultimately wasn't about finance at all; it was about human nature. Just as McLean's The Smartest Guys in the Room was hailed as the best Enron book on a crowded shelf, so will All the Devils Are Here be remembered for finally making sense of the financial meltdown and its consequences.