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Author: Sara Gordon
Publisher: Praeger
ISBN: 0899307728
Category : Business & Economics
Languages : en
Pages : 0
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Book Description
Gordon maintains that the United States must implement policy measures to reduce the large amounts of capital it is borrowing from the rest of the world—a problem she attributes, mainly, to low private savings rates and high federal budget deficits. She explains how the United States became a debtor nation, describes the changes in global capital markets that occurred in the 1980s, and analyzes the extent of global capital requirements, the drop in the U.S. savings rate, and the policy measures that could be taken to raise it. Unlike most discussions that focus on faulty international trade practices as a cause of U.S. deficits, Gordon places a large share of the responsibility on U.S. macroeconomic policies. Concise, readable, lucid, Gordon's book will be useful to professionals in banking and finance, and to academics and upper-level students of international business, finance, and economics.
Author: Sara Gordon
Publisher: Praeger
ISBN: 0899307728
Category : Business & Economics
Languages : en
Pages : 0
Get Book Here
Book Description
Gordon maintains that the United States must implement policy measures to reduce the large amounts of capital it is borrowing from the rest of the world—a problem she attributes, mainly, to low private savings rates and high federal budget deficits. She explains how the United States became a debtor nation, describes the changes in global capital markets that occurred in the 1980s, and analyzes the extent of global capital requirements, the drop in the U.S. savings rate, and the policy measures that could be taken to raise it. Unlike most discussions that focus on faulty international trade practices as a cause of U.S. deficits, Gordon places a large share of the responsibility on U.S. macroeconomic policies. Concise, readable, lucid, Gordon's book will be useful to professionals in banking and finance, and to academics and upper-level students of international business, finance, and economics.
Author: Maurice Obstfeld
Publisher: Cambridge University Press
ISBN: 9780521671798
Category : Business & Economics
Languages : en
Pages : 386
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Book Description
This book is an economic survey of international capital mobility from the late nineteenth century to the present.
Author: Andrea Fumagalli
Publisher: Semiotext(e) / Active Agents
ISBN:
Category : Business & Economics
Languages : en
Pages : 312
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Book Description
'Crisis in the Global Economy' reflects on the state of global capitalism, developed in the mobile 'multiversity' of the UniNomade network of international researchers and activists during the months immediately following the first signals of the current financial and economic crisis.
Author: Zia Qureshi
Publisher: World Bank Publications
ISBN:
Category :
Languages : en
Pages : 36
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Book Description
October 1995 A severe global capital squeeze and a big increase in global real interest rates (which some fear) are unlikely if industrial countries continue fiscal consolidation -- especially the reform of social security systems. Without such consolidation, global real interest rates could rise well above already high recent levels (about 4 percent), with adverse consequences for all countries. Qureshi assesses the medium- to long-term outlook for global demand and supply of capital. He reaches the following conclusions: * The demand for investment funds in developing countries will remain strong, but most increased demand will likely be met by domestic savings. Investment's share in GDP will probably rise in these countries, but so will savings' share, so their net claim on industrial countries' savings is likely to remain small. Of course, savings will not rise automatically. It is essential that policies, institutions, and the economic environment be conducive to saving. * Financial liberalization and integration of international capital markets will continue to give developing countries as a group improved access to private foreign capital. But whether specific countries attract and sustain such inflows will depend on their economic prospects and policies, including conditions that promote domestic saving and investment (to both attract foreign capital and help limit it to sustainable levels). Investment needs in developing countries are great, but effective demand for foreign capital will remain limited by the countries' perceived creditworthiness and viability. Despite the sharp rise in aggregate private capital flows to developing countries in the 1990s, only a dozen or so of them receive significant amounts of private capital. * Most low-income countries will continue to depend mainly on official capital for some time. But official capital will likely be increasingly scarce, so these countries must intensify their domestic resource mobilization and accelerate the policy reform needed to attract private investment. * The critical factor in alleviating pressure on global interest rates will be progress on fiscal consolidation in industrial countries, especially the reform of social security systems. Net capital flows from industrial to developing countries are much smaller than the budget deficits in industrial countries. In 1994, for example, lowering the industrial countries' budget deficit by about 20 percent would have freed up enough money to finance the entire net capital flow to developing countries. * International capital markets will tend to remain tight in the coming decade, but a severe global capital squeeze and a big increase in global real interest rates (which some fear) are unlikely if industrial countries continue fiscal consolidation. Without such consolidation, global real interest rates could rise well above already high recent levels of about 4 percent, with adverse consequences for all countries. This paper -- a product of the International Economic Analysis and Prospects Division, International Economics Department -- is part of a larger effort in the department to analyze major trends and issues in the global economic outlook and their implications for developing countries.
Author: Maurice Obstfeld
Publisher: Cambridge University Press
ISBN: 9780521633178
Category : Business & Economics
Languages : en
Pages : 382
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Book Description
Publisher Description
Author: Herman M. Schwartz
Publisher: Cornell University Press
ISBN: 080145803X
Category : Political Science
Languages : en
Pages : 277
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Book Description
In his exceedingly timely and innovative look at the ramifications of the collapse of the U.S. housing market, Herman M. Schwartz makes the case that worldwide, U.S. growth and power over the last twenty years has depended in large part on domestic housing markets. Mortgage-based securities attracted a cascade of overseas capital into the U.S. economy. High levels of private home ownership, particularly in the United States and the United Kingdom, have helped pull in a disproportionately large share of world capital flows.As events since mid-2008 have made clear, mortgage lenders became ever more eager to extend housing loans, for the more mortgage packages they securitized, the higher their profits. As a result, they were dangerously inventive in creating new mortgage products, notably adjustable-rate and subprime mortgages, to attract new, mainly first-time, buyers into the housing market. However, mortgage-based instruments work only when confidence in the mortgage system is maintained. Regulatory failures in the American S&L sector, the accounting crisis that led to the extinction of Arthur Andersen, and the subprime crisis that destroyed Lehman Brothers and Merrill Lynch and damaged many other big financial institutions have jeopardized a significant engine of economic growth. Schwartz concentrates on the impact of U.S. regulatory failure on the international economy. He argues that the "local" problem of the housing crisis carries substantial and ongoing risks for U.S. economic health, the continuing primacy of the U.S. dollar in international financial circles, and U.S. hegemony in the world system.
Author: Zia Qureshi
Publisher:
ISBN:
Category :
Languages : en
Pages : 36
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Book Description
A severe global capital s ...
Author: New York Stock Exchange. Research Department
Publisher:
ISBN:
Category : Capital investments
Languages : en
Pages : 50
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Book Description
Author: Conference (1995. Paris
Publisher:
ISBN:
Category :
Languages : es
Pages : 17
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Book Description
Author: Ronald L. Danielian
Publisher: Routledge
ISBN: 1000301567
Category : Political Science
Languages : en
Pages : 85
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Book Description
The United States is the world's largest debtor nation. An often-overlooked element of the deficit, U.S. capital accounts, is the focus of this critical analysis. The evidence shows that the inflow of foreign money to finance U.S. consumption is going into short- and medium-term, interest-rate-sensitive, liquid instruments. U.S. debt instruments, rather than equities, are the asset of choice. The authors argue that over the long term this trend will adversely affect the U.S. economy, as every citizen ultimately must constrain consumption to pay the financing charges on the enormous debt buildup. Capital costs in the United States must remain several points higher than in the markets of its major trading competitors. Constraints will be imposed on U.S. policymakers as they attempt to maintain the substantial U.S. economic, political, and military presence overseas. Divided into an analysis of direct investment and portfolio capital flows, this book contains specific policy recommendations after each section. The authors examine the effect of capital flows on the composition of the U.S. current account transactions with the rest of the world, the linkage of foreign investments to trade, and the effects of protectionism by the Japanese in direct investments.
