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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 : 146
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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: 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: Andrew Sheng
Publisher: John Wiley & Sons
ISBN: 1119266343
Category : Business & Economics
Languages : en
Pages : 186
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Book Description
An authoritative guide to the rise of Chinese shadow banking and its systemic implications Shadow Banking in China examines this rapidly growing sector in the Chinese economy, and what it means for your investments. Written by two world-class experts in Chinese banking, including the Chief Advisor to the China Banking Regulatory Commission and former Chairman of the Securities and Futures Commission in Hong Kong, this book is unique in providing true, first-hand perspectives from authorities within the world's largest economy. There is little widely-available information on China's shadow banking developments, and much of it is rife with disparate data, inaccuracies and overblown risks due to definitional and measurement differences. This book clears the confusion by supplying accurate information, on-the-ground context and invaluable national balance sheet analysis you won't find anywhere else. Shadow banking has grown to be a key source of credit in China, and a major component of the economy. This book serves as a primer for analysts and investors seeking real, useful information about the sector to better inform investment decisions. Discover what's driving the growth of shadow banking in China Learn the truth about both real and inflated risks Dig into popular rhetoric and clarify common misconceptions Access valuable data previously not published in English Despite shadow banking's critical influence on the Chinese economy, there have been very few official studies and even fewer books written on the subject. Understanding China's present-day economy and forecasting its future requires an in-depth understanding of shadow banking and its inter-relationship with the banking system and other sectors. Shadow Banking in China provides authoritative reference that will prove valuable to anyone with financial interests in China.
Author: K. Alexander
Publisher: Edward Elgar Publishing
ISBN: 0857936638
Category : Law
Languages : en
Pages : 361
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Book Description
Law Reform and Financial Markets addresses how law reform can be used to support strong financial markets and draws on the Global Financial Crisis as a case study. This edited collection reflects recent developments, including the EU institutional reforms and Dodd-Frank Act 2010. The different contributions adopt a range of theoretical, contextual, and substantive perspectives, examine different domestic, regional, and international contexts and assess public and private law frameworks in considering how legal and regulatory reforms can be most effectively designed for strong financial markets. This comprehensive book will appeal to academics and postgraduates in the field of financial regulation and in cognate fields, including finance and economics, as well as to regulators and policymakers.
Author: Robert P. Beschel, Jr.
Publisher: World Bank Publications
ISBN: 0821395297
Category : Business & Economics
Languages : en
Pages : 225
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Book Description
"Part I, Overview and summary, June 2010."
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: 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: JoŠlle Julie Leclaire
Publisher: Edward Elgar Publishing
ISBN: 085793757X
Category : Business & Economics
Languages : en
Pages : 193
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Book Description
The editors of this book have put together a compelling compendium of explanations and consequences of the global financial crisis. The essays are fairly homogeneous despite their apparent diversity, all providing a useful historical background. There is an obvious Institutionalist twist, with authors examining the changes in organizations and regulations that have accompanied the move towards financialization and money-manager capitalism. This analysis is often informed by the work of Hyman Minsky, pointing towards the inherent destabilizing forces of competition, as well as the dangers of deregulation, self-regulation, securitization, excess leverage, global imbalances, and the illusion of liquidity-enhancing and risk-reducing financial innovations. Marc Lavoie, University of Ottawa, Canada This valuable collection offers a stimulating range of heterodox views on the global financial crisis and proposals for reform of the financial system, nationally and internationally. The perspective of the authors is broadly Post Keynesian, sometimes with a radical or an institutionalist twist. Vigorously argued, clearly presented and largely non-technical, these essays provide a great deal of food for thought. John King, La Trobe University, Australia Though the worst of the financial crisis of 2008 has, with hope, ebbed, it has forever changed the economy in the United States and throughout the rest of the world. Using the financial and economic crisis as a catalyst, this volume examines how to better regulate the financial system and what to expect in the future if no steps are made toward reform. This book lays the foundation for those steps by providing concrete ideas that will push policy in the direction of jobs growth and widespread prosperity. Paired with a history of financial market problems, Heterodox Analysis of Financial Crisis and Reform analyzes complacency regarding the state of the economy, its lack of jobs, growing income disparity, poverty and the consequences of the false but widely shared belief that the economy is self-regulating. This book suggests ways to account for the inherent instability of financial markets and how to make asset values less precarious. Examining both the macro and micro sides of financial instability, the authors argue that existing rules and regulations are either not applied or that they are not effective enough to prevent market fluctuations of the magnitude experienced in 2008. This volume also sheds new light on just how inextricably linked success on Wall Street and welfare on Main Street have become. Students and scholars of heterodox economics, historians, political scientists, policymakers and all those with an interest in an economic renaissance will find this thought-provoking analysis of significant interest.
Author: Ewald Engelen
Publisher: Oxford University Press
ISBN: 0199589089
Category : Business & Economics
Languages : en
Pages : 296
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Book Description
Argues "that social scientists, governments and citizens need now to re-engage with the political dimensions of financial markets." - cover.
