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Author: Gerard Caprio
Publisher: Cambridge University Press
ISBN: 9780521574242
Category : Business & Economics
Languages : en
Pages : 502
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Book Description
This study is the first to look at the analytics of and experience with financial reform, in examples drawn mostly from the developing world.
Author: Gerard Caprio
Publisher: Cambridge University Press
ISBN: 9780521574242
Category : Business & Economics
Languages : en
Pages : 502
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Book Description
This study is the first to look at the analytics of and experience with financial reform, in examples drawn mostly from the developing world.
Author: Steven J. Ericson
Publisher: Cornell University Press
ISBN: 1501746936
Category : History
Languages : en
Pages : 141
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Book Description
With a new look at the 1880s financial reforms in Japan, Steven J. Ericson's Financial Stabilization in Meiji Japan overturns widely held views of the program carried out by Finance Minister Matsukata Masayoshi. As Ericson shows, rather than constituting an orthodox financial-stabilization program—a sort of precursor of the "neoliberal" reforms promoted by the IMF in the 1980s and 1990s—Matsukata's policies differed in significant ways from both classical economic liberalism and neoliberal orthodoxy. The Matsukata financial reform has become famous largely for the wrong reasons, and Ericson sets the record straight. He shows that Matsukata intended to pursue fiscal retrenchment and budget-balancing when he became finance minister in late 1881. Various exigencies, including foreign military crises and a worsening domestic depression, compelled him instead to increase spending by running deficits and floating public bonds. Though he drastically reduced the money supply, he combined the positive and contractionary policies of his immediate predecessors to pull off a program of "expansionary austerity" paralleling state responses to financial crisis elsewhere in the world both then and now. Through a new and much-needed recalibration of this pivotal financial reform, Financial Stabilization in Meiji Japan demonstrates that, in several ways, ranging from state-led export promotion to the creation of a government-controlled central bank, Matsukata advanced policies that were more in line with a nationalist, developmentalist approach than with a liberal economic one. Ericson shows that Matsukata Masayoshi was far from a rigid adherent of classical economic liberalism.
Author: Nancy L. Rose
Publisher: University of Chicago Press
ISBN: 022613816X
Category : Business & Economics
Languages : en
Pages : 619
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Book Description
The past thirty years have witnessed a transformation of government economic intervention in broad segments of industry throughout the world. Many industries historically subject to economic price and entry controls have been largely deregulated, including natural gas, trucking, airlines, and commercial banking. However, recent concerns about market power in restructured electricity markets, airline industry instability amid chronic financial stress, and the challenges created by the repeal of the Glass-Steagall Act, which allowed commercial banks to participate in investment banking, have led to calls for renewed market intervention. Economic Regulation and Its Reform collects research by a group of distinguished scholars who explore these and other issues surrounding government economic intervention. Determining the consequences of such intervention requires a careful assessment of the costs and benefits of imperfect regulation. Moreover, government interventions may take a variety of forms, from relatively nonintrusive performance-based regulations to more aggressive antitrust and competition policies and barriers to entry. This volume introduces the key issues surrounding economic regulation, provides an assessment of the economic effects of regulatory reforms over the past three decades, and examines how these insights bear on some of today’s most significant concerns in regulatory policy.
Author: Randall S. Kroszner
Publisher: MIT Press
ISBN: 0262518732
Category : Business & Economics
Languages : en
Pages : 171
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Book Description
Two top economists outline distinctive approaches to post-crisis financial reform. Over the last few years, the financial sector has experienced its worst crisis since the 1930s. The collapse of major firms, the decline in asset values, the interruption of credit flows, the loss of confidence in firms and credit market instruments, the intervention by governments and central banks: all were extraordinary in scale and scope. In this book, leading economists Randall Kroszner and Robert Shiller discuss what the United States should do to prevent another such financial meltdown. Their discussion goes beyond the nuts and bolts of legislative and regulatory fixes to consider fundamental changes in our financial arrangements. Kroszner and Shiller offer two distinctive approaches to financial reform, with Kroszner providing a systematic analysis of regulatory gaps and Shiller addressing the broader concerns of democratizing and humanizing finance. After brief discussions by four commentators (Benjamin M. Friedman, George G. Kaufman, Robert C. Pozen, and Hal S. Scott), Kroszner and Shiller each offer a response to the other's proposals, creating a fruitful dialogue between two major figures in the field.
Author: Iwan J. Azis
Publisher: Edward Elgar Publishing
ISBN: 1783477946
Category : Business & Economics
Languages : en
Pages : 750
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Book Description
The growth of financial markets has clearly outpaced the development of financial market regulations. With growing complexity in the world of finance, and the resultant higher frequency of financial crises, all eyes have shifted toward the current inad
Author: James Laurenceson
Publisher: Edward Elgar Publishing
ISBN: 9781843767190
Category : Business & Economics
Languages : en
Pages : 188
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Book Description
China's prospects of successfully completing the transition to a market economy and becoming the world's largest economy during the 21st Century depend on the future sustainability of high rates of economic growth. This book is a comprehensive, balanced and realistic assessment of China's financial reform program and future direction. Covering not only the banking sector but also non-bank financial institutions, stock market development and external financial liberalization, the authors examine the impact of financial reform on economic development in China during the reform period. This volume will facilitate a more accurate assessment of the Chinese approach to financial reform, and will therefore allow more informed future policy choices for both China and other developing and transitional countries.
Author: Larry Kirsch
Publisher: Bloomsbury Publishing USA
ISBN:
Category : Business & Economics
Languages : en
Pages : 196
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Book Description
This provocative and accessible narrative recounts the inside story of how a broad-based people's campaign was mobilized and subsequently succeeded in pushing Congress to create a consumer financial regulator with clout. What would Congress do—if anything—to tame Wall Street and the nation's lenders following the financial meltdown of 2008? This book tells the true story of how an alliance of consumer, civil rights, labor, fair lending, and other progressive groups emerged to effectively challenge Wall Street and its official protectors and to win substantial new legislative reforms—actions that resulted in the Dodd-Frank Act and its path-breaking Consumer Financial Protection Bureau (CFPB). Based largely on in-depth interviews with the leading activists involved in the campaign, Financial Justice: The People's Campaign to Stop Lender Abuse taps into the world of contemporary citizen movements to present evidence into the conditions that determine the success and failure of social movement campaigns. It goes well beyond general, global variables, such as "effective management," to show how the formal and informal rules adopted by a campaign can serve to preclude fragmentation and incoherence.
Author: Stephen Bell
Publisher: Cornell University Press
ISBN: 1501762532
Category : Political Science
Languages : en
Pages : 306
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Book Description
Banking on Growth Models contends that China's rapid economic rise from the late 1970s to today has been built on and shaped by a highly politicized and inefficient bank-centric financial system. Stephen Bell and Hui Feng argue that if the Chinese growth model drives how key economic sectors interact, no amount of incremental reform can have much impact on the financial system—meaningful reform can stem only from a revised growth model. For a time after the global financial crisis, it appeared that the expansion of a more market-oriented shadow banking system might help sustain China's economic growth. Since around 2015, however, Xi Jinping's regime has reversed this trajectory and placed China's financial system under heavy state control, resulting in slowed economic development and skyrocketing national debt. China's market transition and economic rebalancing are now in doubt, as is the fate of the nation's economy. By pinpointing finance as a vital element of the growth model, Bell and Feng provide a convincing assessment of financial risks and the prospects for economic rebalancing in China. Banking on Growth Models demystifies the world of Chinese banking and finance as it investigates an ever-rising national debt, a declining rate of economic growth, and the possibility of dire and drastic reform by the Asian superpower's government.
Author: Nicholas R. Lardy
Publisher: Peterson Institute for International Economics
ISBN: 0881327387
Category : Business & Economics
Languages : en
Pages : 258
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Book Description
China's extraordinarily rapid economic growth since 1978, driven by market-oriented reforms, has set world records and continued unabated, despite predictions of an inevitable slowdown. In The State Strikes Back: The End of Economic Reform in China?, renowned China scholar Nicholas R. Lardy argues that China's future growth prospects could be equally bright but are shadowed by the specter of resurgent state dominance, which has begun to diminish the vital role of the market and private firms in China's economy. Lardy's book arrives in timely fashion as a sequel to his pathbreaking Markets over Mao: The Rise of Private Business in China, published by PIIE in 2014. This book mobilizes new data to trace how President Xi Jinping has consistently championed state-owned or controlled enterprises, encouraging local political leaders and financial institutions to prop up ailing, underperforming companies that are a drag on China's potential. As with his previous book, Lardy's perspective departs from conventional wisdom, especially in its contention that China could achieve a high growth rate for the next two decades—if it reverses course and returns to the path of market-oriented reforms.
Author: Mr.Ashoka Mody
Publisher: International Monetary Fund
ISBN: 9781589064850
Category : Business & Economics
Languages : zh-CN
Pages : 32
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Book Description
Financial sector liberalization was high on the agenda of policymakers during the last quarter of the twentieth century. But there were significant differences in the pace and scale of reform. This pamphlet examines the factors triggering-or impeding and even reversing-financial reform in 35 economies, both industrial and developing.
