Download or read book The Invisible Hands of U S Commercial Banking Reform written by Margaret M. Polski and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 125 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is a product of my commitment to developing both theory and practice in political economy. I first became interested in economic and institutional change in the commercial banking industry when I took a seminar on financial insti- tions led by Robert Glauber in the Kennedy School of Government at Harvard University in the spring of 1995. In my experience, Bob is one of a handful of teachers who has the verve to challenge and inspire both esoteric and practical inquiry: the seminar grappled with practical business and policy problems in a way that posed a significant challenge to existing theories. In addition to dem- strating the need to better integrate theory and practice, it provided a perspective and an approach that I continue to find useful in research, consulting, and teaching. Conducting the research for this study has taught me many things about banking, regulation, and policy making, and I am grateful to a very large number of people for their assistance. Bob Glauber continues to be generous in discussing the ch- lenges of change in the financial services industry.
Download or read book Slapped by the Invisible Hand written by Gary B. Gorton and published by Oxford University Press. This book was released on 2010-03-08 with total page 240 pages. Available in PDF, EPUB and Kindle. Book excerpt: Originally written for a conference of the Federal Reserve, Gary Gorton's "The Panic of 2007" garnered enormous attention and is considered by many to be the most convincing take on the recent economic meltdown. Now, in Slapped by the Invisible Hand, Gorton builds upon this seminal work, explaining how the securitized-banking system, the nexus of financial markets and instruments unknown to most people, stands at the heart of the financial crisis. Gorton shows that the Panic of 2007 was not so different from the Panics of 1907 or of 1893, except that, in 2007, most people had never heard of the markets that were involved, didn't know how they worked, or what their purposes were. Terms like subprime mortgage, asset-backed commercial paper conduit, structured investment vehicle, credit derivative, securitization, or repo market were meaningless. In this superb volume, Gorton makes all of this crystal clear. He shows that the securitized banking system is, in fact, a real banking system, allowing institutional investors and firms to make enormous, short-term deposits. But as any banking system, it was vulnerable to a panic. Indeed the events starting in August 2007 can best be understood not as a retail panic involving individuals, but as a wholesale panic involving institutions, where large financial firms "ran" on other financial firms, making the system insolvent. An authority on banking panics, Gorton is the ideal person to explain the financial calamity of 2007. Indeed, as the crisis unfolded, he was working inside an institution that played a central role in the collapse. Thus, this book presents the unparalleled and invaluable perspective of a top scholar who was also a key insider.
Download or read book Postwar America written by James Ciment and published by Routledge. This book was released on 2015-03-26 with total page 1721 pages. Available in PDF, EPUB and Kindle. Book excerpt: From the outbreak of the Cold War to the rise of the United States as the last remaining superpower, the years following World War II were filled with momentous events and rapid change. Diplomatically, economically, politically, and culturally, the United States became a major influence around the globe. On the domestic front, this period witnessed some of the most turbulent and prosperous years in American history. "Postwar America: An Encyclopedia of Social, Political, Cultural, and Economic History" provides detailed coverage of all the remarkable developments within the United States during this period, as well as their dramatic impact on the rest of the world. A-Z entries address specific persons, groups, concepts, events, geographical locations, organizations, and cultural and technological phenomena. Sidebars highlight primary source materials, items of special interest, statistical data, and other information; and Cultural Landmark entries chronologically detail the music, literature, arts, and cultural history of the era. Bibliographies covering literature from the postwar era and about the era are also included, as are illustrations and specialized indexes.
Download or read book The Development of American Finance written by Martijn Konings and published by Cambridge University Press. This book was released on 2011-09-30 with total page 209 pages. Available in PDF, EPUB and Kindle. Book excerpt: Since the 1960s, scholars and other commentators have frequently announced the imminent decline of American financial power: excessive speculation and debt are believed to have undermined the long-term basis of a stable US-led financial order. But the American financial system has repeatedly shown itself to be more resilient than such assessments suggest. This book argues that there is considerable coherence to American finance: far from being a house of cards, it is a proper edifice, built on institutional foundations with points of both strength and weakness. The book examines these foundations through a historical account of their construction: it shows how institutional transformations in the late nineteenth century created a distinctive infrastructure of financial relations and proceeds to trace the contradiction-ridden expansion of this system during the twentieth century as well as its institutional consolidation during the neoliberal era. It concludes with a discussion of the forces of instability that hit at the start of the twenty-first century.
Download or read book The Political Theory of a Compound Republic written by Vincent Ostrom and published by Lexington Books. This book was released on 2008 with total page 320 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Political Theory of a Compound Republic presents the essential logic of James Madison and Alexander Hamilton's design of limited, distributed, constitutional authority proposed inThe Federalist. Two revised and expanded ensuing chapters show how the idea of constitutional choice has been employed since the adoption of the 1789 Constitution of the United States. A new concluding chapter questions commonly accepted beliefs about sovereign nation-states and considers governance from the perspective of twenty-first century 'citizen-sovereigns.'
Download or read book Handbook of New Institutional Economics written by Claude Ménard and published by Springer Science & Business Media. This book was released on 2008-06-27 with total page 875 pages. Available in PDF, EPUB and Kindle. Book excerpt: New Institutional Economics (NIE) has skyrocketed in scope and influence over the last three decades. This first Handbook of NIE provides a unique and timely overview of recent developments and broad orientations. Contributions analyse the domain and perspectives of NIE; sections on legal institutions, political institutions, transaction cost economics, governance, contracting, institutional change, and more capture NIE's interdisciplinary nature. This Handbook will be of interest to economists, political scientists, legal scholars, management specialists, sociologists, and others wishing to learn more about this important subject and gain insight into progress made by institutionalists from other disciplines. This compendium of analyses by some of the foremost NIE specialists, including Ronald Coase, Douglass North, Elinor Ostrom, and Oliver Williamson, gives students and new researchers an introduction to the topic and offers established scholars a reference book for their research.
Download or read book The New Encyclopedia of Southern Culture written by Wanda Rushing and published by Univ of North Carolina Press. This book was released on 2010-06-07 with total page 283 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume of The New Encyclopedia of Southern Culture offers a current and authoritative reference to urbanization in the American South from the eighteenth century to the twenty-first, surveying important southern cities individually and examining the various issues that shape patterns of urbanization from a broad regional perspective. Looking beyond the post-World War II era and the emergence of the Sunbelt economy to examine recent and contemporary developments, the 48 thematic essays consider the ongoing remarkable growth of southern urban centers, new immigration patterns (such as the influx of Latinos and the return-migration of many African Americans), booming regional entrepreneurial activities with global reach (such as the rise of the southern banking industry and companies such as CNN in Atlanta and FedEx in Memphis), and mounting challenges that result from these patterns (including population pressure and urban sprawl, aging and deteriorating infrastructure, gentrification, and state and local budget shortfalls). The 31 topical entries focus on individual cities and urban cultural elements, including Mardi Gras, Dollywood, and the 1996 Atlanta Olympics.
Download or read book Theories of the Policy Process Second Edition written by Paul Sabatier and published by Routledge. This book was released on 2019-06-04 with total page 338 pages. Available in PDF, EPUB and Kindle. Book excerpt: Theories of the Policy Process provides a forum for the proponents of several of the most promising and widely used theoretical frameworks to present the basic propositions of their frameworks, to assess the empirical evidence that has developed, and to discuss promising directions for future research. The first edition contained analys
Download or read book Perspectives and Implications for the Development of Information Infrastructures written by Constantinides, Panos and published by IGI Global. This book was released on 2012-05-31 with total page 269 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the same way that infrastructures such as transportation, electricity, sewage, and water supply are widely assumed to be integrators of urban spaces, information infrastructures are assumed to be integrators of information spaces. With the advent of Web 2.0 and new types of information infrastructures such as online social networks and smart mobile platforms, a more in-depth understanding of the various rights to access, use, develop, and modify information infrastructure resources is necessary. Perspectives and Implications for the Development of Information Infrastructures aims at addressing this need by offering a fresh new perspective on information infrastructure development. It achieves this by drawing on and adapting theory that was initially developed to study natural resource commons arrangements such as inshore fisheries, forests, irrigation systems, and pastures, while placing great emphasis on the complex problems and social dilemmas that often arise in the negotiations.
Download or read book Monetary and Exchange System Reforms in China written by Mr.Bernard Laurens and published by International Monetary Fund. This book was released on 1996-09-26 with total page 108 pages. Available in PDF, EPUB and Kindle. Book excerpt: In 1978, China embarked on a gradual but far-reaching reform of its economic system. This paper focuses on the achievements so far in reforming the financial sector, the legal framework for financial transactions, the payments system, and the monetary policy and foreign exchange system. It also analyzes the tasks ahead to achieve the goals set in these areas for the year 2000.
Download or read book The Intellectual Crisis in American Public Administration written by Vincent Ostrom and published by University of Alabama Press. This book was released on 2008 with total page 263 pages. Available in PDF, EPUB and Kindle. Book excerpt: Examines various constitutional crises the nation has experienced since Watergate
Download or read book Where Does Money Come From written by Josh Ryan-Collins and published by . This book was released on 2014-01-31 with total page 186 pages. Available in PDF, EPUB and Kindle. Book excerpt: Based on detailed research and consultation with experts, including the Bank of England, this book reviews theoretical and historical debates on the nature of money and banking and explains the role of the central bank, the Government and the European Union. Following a sell out first edition and reprint, this second edition includes new sections on Libor and quantitative easing in the UK and the sovereign debt crisis in Europe.
Download or read book Financial Market Regulation and Reforms in Emerging Markets written by Masahiro Kawai and published by Brookings Institution Press. This book was released on 2011-05-01 with total page 441 pages. Available in PDF, EPUB and Kindle. Book excerpt: A Brookings Institution Press and Asian Development Bank Institute publication The rapid spread and far-reaching impact of the global financial crisis have highlighted the need for strengthening financial systems in advanced economies and emerging markets. Emerging markets face particular challenges in developing their nascent financial systems and making them resilient to domestic and external shocks. Financial reforms are critical to these economies as they pursue programs of high and sustainable growth. In this timely volume Masahiro Kawai, Eswar Prasad, and their contributors offer a systematic overview of recent developments in—and the latest thinking about—regulatory frameworks in both advanced countries and emerging markets. Their analyses and observations clearly point out the challenges to improving regulation, efficiency of markets, and access to the fi nancial system. Policymakers and financial managers in emerging markets are struggling to learn from the crisis and will need to grapple with some key questions as they restructure and reform their financial markets: • What lessons does the global financial crisis of 2007–09 offer for the establishment of efficient and flexible regulatory structures? • How can policymakers develop broader financial markets while managing the associated risks? • How—or should—they make the formal financial system more accessible to more people? • How might they best contend with multinational financial institutions? This book is an important step in getting a better grasp of these issues and making progress toward solutions that strike a balance between promoting financial market development and efficiency on the one hand, and ensuring financial stability on the other.
Download or read book Corruption and Reform written by Edward L. Glaeser and published by University of Chicago Press. This book was released on 2007-11-01 with total page 398 pages. Available in PDF, EPUB and Kindle. Book excerpt: Despite recent corporate scandals, the United States is among the world’s least corrupt nations. But in the nineteenth century, the degree of fraud and corruption in America approached that of today’s most corrupt developing nations, as municipal governments and robber barons alike found new ways to steal from taxpayers and swindle investors. In Corruption and Reform, contributors explore this shadowy period of United States history in search of better methods to fight corruption worldwide today. Contributors to this volume address the measurement and consequences of fraud and corruption and the forces that ultimately led to their decline within the United States. They show that various approaches to reducing corruption have met with success, such as deregulation, particularly “free banking,” in the 1830s. In the 1930s, corruption was kept in check when new federal bureaucracies replaced local administrations in doling out relief. Another deterrent to corruption was the independent press, which kept a watchful eye over government and business. These and other facets of American history analyzed in this volume make it indispensable as background for anyone interested in corruption today.
Download or read book Slapped by the Invisible Hand written by Gary B. Gorton and published by Oxford University Press. This book was released on 2010-03-08 with total page 240 pages. Available in PDF, EPUB and Kindle. Book excerpt: Originally written for a conference of the Federal Reserve, Gary Gorton's "The Panic of 2007" garnered enormous attention and is considered by many to be the most convincing take on the recent economic meltdown. Now, in Slapped by the Invisible Hand, Gorton builds upon this seminal work, explaining how the securitized-banking system, the nexus of financial markets and instruments unknown to most people, stands at the heart of the financial crisis. Gorton shows that the Panic of 2007 was not so different from the Panics of 1907 or of 1893, except that, in 2007, most people had never heard of the markets that were involved, didn't know how they worked, or what their purposes were. Terms like subprime mortgage, asset-backed commercial paper conduit, structured investment vehicle, credit derivative, securitization, or repo market were meaningless. In this superb volume, Gorton makes all of this crystal clear. He shows that the securitized banking system is, in fact, a real banking system, allowing institutional investors and firms to make enormous, short-term deposits. But as any banking system, it was vulnerable to a panic. Indeed the events starting in August 2007 can best be understood not as a retail panic involving individuals, but as a wholesale panic involving institutions, where large financial firms "ran" on other financial firms, making the system insolvent. An authority on banking panics, Gorton is the ideal person to explain the financial calamity of 2007. Indeed, as the crisis unfolded, he was working inside an institution that played a central role in the collapse. Thus, this book presents the unparalleled and invaluable perspective of a top scholar who was also a key insider.
Download or read book From Iron Fist to Invisible Hand written by Irene Wu and published by Stanford University Press. This book was released on 2008-10-16 with total page 209 pages. Available in PDF, EPUB and Kindle. Book excerpt: From Iron Fist to Invisible Hand uses telecommunications policy as a window to examine major contradictions in China's growth as an economic and political superpower. While China policy analysts wonder why the government occasionally restrains growth and raises prices, technologists marvel at how the telecommunications industry continues to grow enormously despite constraints and unpredictability in the market. Frustration is pervasive in the business environment, where regulations are constantly changing. This book provides six policy-focused case studies, each centered on a question with implications for telecome stakeholders, such as: Who is the regulator?Who are the regulated? Which foreigners can enter China, thereby regulating wholesale prices, setting consumer prices, and introducing Internet and innovative technologies? These cases explain the government's liberal and conservative approach toward reform, the policies that both promote and constrain business, and the major hurdles that lie ahead in telecommunications reform.
Download or read book The Hand Behind the Invisible Hand written by Mittermaier, Karl and published by Bristol University Press. This book was released on 2020-07-22 with total page 278 pages. Available in PDF, EPUB and Kindle. Book excerpt: Available Open Access under CC-BY-NC-ND Made famous by the Enlightenment thinker Adam Smith, the concept of an ‘invisible hand’ might be taken to imply that a government that governs least governs the best, from the viewpoint of society. Here an invisible hand appears to represent unfettered market forces. Drawing from this much-contested notion, Mittermaier indicates why such a view represents only one side of the story and distinguishes between what he calls pragmatic and dogmatic free marketeers. Published posthumously, with new contributions by Daniel Klein, Rod O’Donnell and Christopher Torr, this book outlines Mittermaier’s main thesis and his relevance for ongoing debates within economics, politics, sociology and philosophy.
