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Author: Sten Jonsson
Publisher: Routledge
ISBN: 0429575629
Category : Business & Economics
Languages : en
Pages : 314
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Book Description
Starting with Medici and Fugger and ending with Barings and Royal Bank of Scotland under neo-liberal de-regulation, the author gives an account of how a number of banks failed over a 500 year-period. The author offers an explanation of the leading ideas about the world and good society at the time, and summarizes this narrative using Streeck & Schmitter’s three bases for regulation of society: Community (spontaneous solidarity), State (hierarchical control), and Market (dispersed competition). The bank failures are presented in the context of social philosophies of the day (scholasticism, mercantilism, neo-liberalism, and libertarianism), and the changing business practices (Bills of Exchange, rents and financial instruments of various kinds). The dominating explanation of financial crises has been market-related. Here, the author argues that managerial failures are an important contributor. He demonstrates the failure of management to act on early signals such as existential risk, strategic stress syndrome, and lack of proper oversight by top management. The author encourages a return to ethical principles for banks, suggesting that his ethical aspect should be at the core of the credit process of banks in the future. With its interdisciplinary approach, this book will be an important contribution to the discussion surrounding bank failures. It will interest any scholar looking at the origins of financial crises and will be particularly useful for post-graduate students of economic and financial history, banking, finance and accounting.
Author: Sten Jonsson
Publisher: Routledge
ISBN: 0429575629
Category : Business & Economics
Languages : en
Pages : 314
Get Book Here
Book Description
Starting with Medici and Fugger and ending with Barings and Royal Bank of Scotland under neo-liberal de-regulation, the author gives an account of how a number of banks failed over a 500 year-period. The author offers an explanation of the leading ideas about the world and good society at the time, and summarizes this narrative using Streeck & Schmitter’s three bases for regulation of society: Community (spontaneous solidarity), State (hierarchical control), and Market (dispersed competition). The bank failures are presented in the context of social philosophies of the day (scholasticism, mercantilism, neo-liberalism, and libertarianism), and the changing business practices (Bills of Exchange, rents and financial instruments of various kinds). The dominating explanation of financial crises has been market-related. Here, the author argues that managerial failures are an important contributor. He demonstrates the failure of management to act on early signals such as existential risk, strategic stress syndrome, and lack of proper oversight by top management. The author encourages a return to ethical principles for banks, suggesting that his ethical aspect should be at the core of the credit process of banks in the future. With its interdisciplinary approach, this book will be an important contribution to the discussion surrounding bank failures. It will interest any scholar looking at the origins of financial crises and will be particularly useful for post-graduate students of economic and financial history, banking, finance and accounting.
Author: STEN. JONSSON
Publisher: Routledge
ISBN: 9780367730512
Category :
Languages : en
Pages : 210
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Book Description
Starting with Medici and Fugger and ending with Barings and Royal Bank of Scotland under neo-liberal de-regulation, the author gives an account of how a number of banks failed over a 500 year-period. The author offers an explanation of the leading ideas about the world and good society at the time, and summarizes this narrative using Streeck & Schmitter's three bases for regulation of society: Community (spontaneous solidarity), State (hierarchical control), and Market (dispersed competition). The bank failures are presented in the context of social philosophies of the day (scholasticism, mercantilism, neo-liberalism, and libertarianism), and the changing business practices (Bills of Exchange, rents and financial instruments of various kinds). The dominating explanation of financial crises has been market-related. Here, the author argues that managerial failures are an important contributor. He demonstrates the failure of management to act on early signals such as existential risk, strategic stress syndrome, and lack of proper oversight by top management. The author encourages a return to ethical principles for banks, suggesting that his ethical aspect should be at the core of the credit process of banks in the future. With its interdisciplinary approach, this book will be an important contribution to the discussion surrounding bank failures. It will interest any scholar looking at the origins of financial crises and will be particularly useful for post-graduate students of economic and financial history, banking, finance and accounting.
Author: Charles W. Calomiris
Publisher: Princeton University Press
ISBN: 0691168350
Category : Business & Economics
Languages : en
Pages : 584
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Book Description
Why stable banking systems are so rare Why are banking systems unstable in so many countries—but not in others? The United States has had twelve systemic banking crises since 1840, while Canada has had none. The banking systems of Mexico and Brazil have not only been crisis prone but have provided miniscule amounts of credit to business enterprises and households. Analyzing the political and banking history of the United Kingdom, the United States, Canada, Mexico, and Brazil through several centuries, Fragile by Design demonstrates that chronic banking crises and scarce credit are not accidents. Calomiris and Haber combine political history and economics to examine how coalitions of politicians, bankers, and other interest groups form, why they endure, and how they generate policies that determine who gets to be a banker, who has access to credit, and who pays for bank bailouts and rescues. Fragile by Design is a revealing exploration of the ways that politics inevitably intrudes into bank regulation.
Author: John H. Wood
Publisher: Edward Elgar Publishing
ISBN: 1803926600
Category : Business & Economics
Languages : en
Pages : 313
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Book Description
It is widely believed that central banks have grown (the Bank of England) or were established (the Federal Reserve) to pursue the twin objectives of monetary and price stability. But why should they? Central bankers are people, too, whose behavior is presumably determined, like the rest of us, by their incentives and the information available to them. The author explores this question.
Author: David E. McNabb
Publisher: Springer
ISBN: 1137503300
Category : Business & Economics
Languages : en
Pages : 188
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Book Description
A Comparative History of Commerce and Industry, Volume II offers a subjective review of how the cultural, social and economic institutions of commerce and industry evolved in industrialized nations to produce the institution we now know as business enterprise.
Author: David E. McNabb
Publisher: Springer
ISBN: 1137503262
Category : Business & Economics
Languages : en
Pages : 277
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Book Description
A Comparative History of Commerce and Industry, Volume I offers a subjective review of how the cultural, social and economic institutions of commerce and industry evolved in industrialized nations to produce the institution we now know as business enterprise.
Author: Juliet Johnson
Publisher: Cornell University Press
ISBN: 1501703757
Category : Political Science
Languages : en
Pages : 311
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Book Description
Priests of Prosperity explores the unsung revolutionary campaign to transform postcommunist central banks from command-economy cash cows into Western-style monetary guardians. Juliet Johnson conducted more than 160 interviews in seventeen countries with central bankers, international assistance providers, policymakers, and private-sector finance professionals over the course of fifteen years. She argues that a powerful transnational central banking community concentrated in Western Europe and North America integrated postcommunist central bankers into its network, shaped their ideas about the role of central banks, and helped them develop modern tools of central banking. Johnson's detailed comparative studies of central bank development in Hungary, the Czech Republic, Slovakia, Russia, and Kyrgyzstan take readers from the birth of the campaign in the late 1980s to the challenges faced by central bankers after the global financial crisis. As the comfortable certainties of the past collapse around them, today’s central bankers in the postcommunist world and beyond find themselves torn between allegiance to their transnational community and its principles on the one hand and their increasingly complex and politicized national roles on the other. Priests of Prosperity will appeal to a diverse audience of scholars in political science, finance, economics, geography, and sociology as well as to central bankers and other policymakers interested in the future of international finance, global governance, and economic development.
Author: Temitope W. Oshikoya
Publisher: Routledge
ISBN: 0429575599
Category : Business & Economics
Languages : en
Pages : 275
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Book Description
This book discusses the role of capital markets and investment banking in Nigeria, the largest frontier market economy in the world by both population size and gross domestic product. Offering a systematic framework combining conceptual principles with real practice, the book enables the reader to gain useful insight into how capital markets and investment banking work in the real world of a frontier market. The book provides a synopsis of the economic attractiveness, financial systems intermediation and capital markets, as well as the regulatory framework within a frontier market. It explores capital raising through equity and underwriting and private equity, paying particular attention to putting capital to work on mergers and acquisitions, project and infrastructure finance and real estate finance. Furthermore, it analyses asset management, pension industry and securities trading in a frontier market. The authors use detailed case studies from Nigeria to illustrate the operations of investment banking in frontier markets. The cases, tables and charts serve as useful illustrations of the topics under discussion. With the authors’ combined experience of more than 50 years as economists, finance and investment professionals and in executive leadership positions in the financial services industry, this book will interest the academic community, professionals in the financial industry, retail and institutional investors interested in frontier markets, development practitioners in international organizations and policy makers including securities and capital market regulators.
Author: Claudio Scardovi
Publisher: Routledge
ISBN: 1000022897
Category : Business & Economics
Languages : en
Pages : 197
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Book Description
This book deals directly with the risk/return multiple trade-offs coming out of the closely intertwined relationship between banking and real estate. The authors explore how banks could embrace a more proactive approach to make the most of their, mostly ‘long only’, exposure to real estate, and create positive spillover effects on their real estate counterparts and the sector as a whole. It provides a "state of the art" representation and analysis of the strategies that best practices in banking are adopting to manage these issues and plan for a new set of interrelations, driving a "virtuous circle" as opposed to the current one. Banking, Lending and Real Estate is built on the academic knowhow and professional expertise of the authors, who have been researching, writing and working on this joint topic for over a decade. With its pragmatic approach, it allows the reader to capture which leading hedge active and holistic approaches are available today and proven to treat, for example, the banks’ overexposure to this asset class; to manage "unlikely to pay" and sub-performing positions; and to optimize the recovery value coming from the work out of real estate related NPL (and underlying assets). Case studies and relevant examples are provided, leveraging on the authors’ experience in consulting projects in the EMEA region and from working with global, regional and domestic banks and the real estate players acting across its value chain. This book will appeal to both academics and business practitioners within the banking, financial services and real estate sectors, as well as professionals from financial and strategic/industrial advisory working in those fields.
Author: Hubert Bonin
Publisher: Routledge
ISBN: 0429555628
Category : Business & Economics
Languages : en
Pages : 215
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Book Description
Many books have addressed the economic and financial history of Hong Kong, and the imperialist conflicts in the key Chinese port-cities but very few books have explored French initiatives and performance in this area, beyond diplomacy, geopolitics or cultural issues. In this book, Hubert Bonin confronts arguments about "the great divergence", "the first globalisation", and forms of "economic patriotism". He gauges the competitive edge of French companies and banks, their struggle with British domination (HBSC, Chartered, shipping, trade houses/hongs) and their resistance against competitors from other countries (Japan, Germany, Netherlands, Belgium, USA, or Russia). The book delves into studies of management abroad, therefore mixing broad geo-economic issues with precise business history and deep banking history. The connections between French interests in China and Hong Kong and the colony of Indochina are established too. A second part of the book is dedicated to the case study of Hong Kong, as the British colony acted as a hub for Asian and European interests at the heart of connections with mainland China and some neighbouring territories (Indochina, etc.). This is essential reading for academics interested in banking and business history, the history of entrepreneurship, as well as, those involved in the contemporary history of China and Hong Kong, in the assessment of world-wide geo-economic competition between European powers in Asia (Great-Britain, and France), and in the first stages of economic "modernity", along European models, in emerging modern China.
