Author: Haizhou Huang
Publisher:
ISBN:
Category :
Languages : en
Pages : 37
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Book Description
This paper provides a unified analysis for the onset of the 1998 financial crisis and the strong economic recovery afterward in Russia and other former Soviet Union countries. Before the crisis a banking failure arose owing to the coexistence of a lemons credit market and high government borrowing. In a lemons credit market low credit risk firms switched from bank to nonbank finance, including trade credits and barter trade, generating an externality on banks` interest rates. The collapse of the treasury bills market in the financial crisis triggered a change in banks` lending behavior, providing initial conditions for banking development.
Author: Haizhou Huang
Publisher: International Monetary Fund
ISBN:
Category : Business & Economics
Languages : en
Pages : 42
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Book Description
This paper provides a unified analysis for the onset of the 1998 financial crisis and the strong economic recovery afterward in Russia and other former Soviet Union countries. Before the crisis a banking failure arose owing to the coexistence of a lemons credit market and high government borrowing. In a lemons credit market low credit risk firms switched from bank to nonbank finance, including trade credits and barter trade, generating an externality on banks' interest rates. The collapse of the treasury bills market in the financial crisis triggered a change in banks' lending behavior, providing initial conditions for banking development.
Author: Gerard Caprio
Publisher: Rowman & Littlefield
ISBN: 0815797966
Category : Business & Economics
Languages : en
Pages : 300
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Book Description
A Brookings Institution Press and World Bank Group publication Throughout the 1990s, numerous financial crises rocked the world financial sector. The Asian bubble burst, for example; Argentina and Brazil suffered currency crises; and the post-Soviet economy bottomed out in Russia. In Financial Crises, a distinguished group of economists and policy analysts examine and draw lessons from attempts to recover from past crises. They also consider some potential hazards facing the world economy in the 21st century and discuss ways to avoid them and minimize the severity of any future downturn. This important new volume emerges from the seventh annual conference on emerging markets finance, cosponsored and organized by the World Bank and the Brookings Institution. In the book, noted experts address the following questions: How effective were post-crisis policies in Latin America, Eastern Europe, and East and Central Asia? Where do international financial markets stand ten years after the worldwide debt crisis? How can the provision of financial services resume vigorously, yet safely? What are the viable policy options for reducing systemic financial vulnerability? What will the next emerging-market financial crisis look like? Will lessons learned from past experiences help to avoid future disasters? How can nations reform their pension systems to deal with retirement challenges in the 21st century?
Author: Federico Sturzenegger
Publisher: MIT Press
ISBN: 0262195534
Category : Business & Economics
Languages : en
Pages : 399
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Book Description
Detailed case studies of debt defaults by Russia, Ukraine, Pakistan, Ecuador, Moldova, and Uruguay, framed by a comprehensive discussion of the history, economic theory, legal issues, and policy lessons of sovereign debt crises. The debt crises in emerging market countries over the past decade have given rise to renewed debate about crisis prevention and resolution. In Debt Defaults and Lessons from a Decade of Crises, Federico Sturzenegger and Jeromin Zettelmeyer examine the facts, the economic theory, and the policy implications of sovereign debt crises. They present detailed case histories of the default and debt crises in seven emerging market countries between 1998 and 2005: Russia, Ukraine, Pakistan, Ecuador, Argentina, Moldova, and Uruguay. These accounts are framed with a comprehensive overview of the history, economics, and legal issues involved and a discussion from both domestic and international perspectives of the policy lessons that can be derived from these experiences. Sturzenegger and Zettelmeyer examine how each crisis developed, what the subsequent restructuring encompassed, and how investors and the defaulting country fared. They discuss the new theoretical thinking on sovereign debt and the ultimate costs entailed, for both debtor countries and private creditors. The policy debate is considered first from the perspective of policymakers in emerging market countries and then in terms of international financial architecture. The authors' surveys of legal and economic issues associated with debt crises, and of the crises themselves, are the most comprehensive to be found in the literature on sovereign debt and default, and their theoretical analysis is detailed and nuanced. The book will be a valuable resource for investors as well as for scholars and policymakers.
Author: Tony Cleaver
Publisher: Routledge
ISBN: 113471050X
Category : Business & Economics
Languages : en
Pages : 281
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Book Description
With globalization continuing apace, the world economy continues to experience dramatic change and development. This third edition builds on the popular format of its predecessors to provide the best concise guide to its subject for students of international economics. Since the previous edition, new developments covered include: the ongoing impact of 9/11 and the Iraq War the increased number of free trade agreements, custom unions and common markets, including the recent accession of ten new countries to the European Union in 2004 an acknowledgement of the huge impact of private firms in shaping the global economy an examination of the role of the International Monetary Fund, World Bank and World Trade Organization. The book takes the student through the major characteristics of the global economy in jargon-free non-technical language. Chapter summary diagrams and a wealth of boxes and tables make this an essential introduction for undergraduates and A-level students as well as the casual reader.
Author: Pradeep Mitra
Publisher: World Bank Publications
ISBN: 9780821350386
Category : Business & Economics
Languages : en
Pages : 164
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Book Description
The wide variation in transition economies raises questions about differences in economic growth, the applicability of transition policies, and the advantages of economic reform. This report seeks to answer these questions.
Author: International Monetary Fund
Publisher:
ISBN:
Category : International finance
Languages : en
Pages : 734
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Book Description
Author:
Publisher:
ISBN:
Category : Mineral industries
Languages : en
Pages : 328
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Book Description
Author: National Intelligence Council
Publisher: Cosimo Reports
ISBN: 9781646794973
Category :
Languages : en
Pages : 158
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Book Description
"The ongoing COVID-19 pandemic marks the most significant, singular global disruption since World War II, with health, economic, political, and security implications that will ripple for years to come." -Global Trends 2040 (2021) Global Trends 2040-A More Contested World (2021), released by the US National Intelligence Council, is the latest report in its series of reports starting in 1997 about megatrends and the world's future. This report, strongly influenced by the COVID-19 pandemic, paints a bleak picture of the future and describes a contested, fragmented and turbulent world. It specifically discusses the four main trends that will shape tomorrow's world: - Demographics-by 2040, 1.4 billion people will be added mostly in Africa and South Asia. - Economics-increased government debt and concentrated economic power will escalate problems for the poor and middleclass. - Climate-a hotter world will increase water, food, and health insecurity. - Technology-the emergence of new technologies could both solve and cause problems for human life. Students of trends, policymakers, entrepreneurs, academics, journalists and anyone eager for a glimpse into the next decades, will find this report, with colored graphs, essential reading.
Author: Max Spoor
Publisher: Taylor & Francis
ISBN: 0415460433
Category : Business & Economics
Languages : en
Pages : 283
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Book Description
These chapters reflect the striking differences between transition countries in their processes of rural reform and development of rural poverty.
