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Author: Stijn Claessens
Publisher: Springer Science & Business Media
ISBN: 1475733143
Category : Business & Economics
Languages : en
Pages : 461
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Book Description
No sooner had the Asian crisis broken out in 1997 than the witch-hunt started. With great indignation every Asian economy pointed fingers. They were innocent bystanders. The fundamental reason for the crisis was this or that - most prominently contagion - but also the decline in exports of the new commodities (high-tech goods), the steep rise of the dollar, speculators, etc. The prominent question, of course, is whether contagion could really have been the key factor and, if so, what are the channels and mechanisms through which it operated in such a powerful manner. The question is obvious because until 1997, Asia's economies were generally believed to be immensely successful, stable and well managed. This question is of great importance not only in understanding just what happened, but also in shaping policies. In a world of pure contagion, i.e. when innocent bystanders are caught up and trampled by events not of their making and when consequences go far beyond ordinary international shocks, countries will need to look for better protective policies in the future. In such a world, the international financial system will need to change in order to offer better preventive and reactive policy measures to help avoid, or at least contain, financial crises.
Author: Stijn Claessens
Publisher: Springer Science & Business Media
ISBN: 1475733143
Category : Business & Economics
Languages : en
Pages : 461
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Book Description
No sooner had the Asian crisis broken out in 1997 than the witch-hunt started. With great indignation every Asian economy pointed fingers. They were innocent bystanders. The fundamental reason for the crisis was this or that - most prominently contagion - but also the decline in exports of the new commodities (high-tech goods), the steep rise of the dollar, speculators, etc. The prominent question, of course, is whether contagion could really have been the key factor and, if so, what are the channels and mechanisms through which it operated in such a powerful manner. The question is obvious because until 1997, Asia's economies were generally believed to be immensely successful, stable and well managed. This question is of great importance not only in understanding just what happened, but also in shaping policies. In a world of pure contagion, i.e. when innocent bystanders are caught up and trampled by events not of their making and when consequences go far beyond ordinary international shocks, countries will need to look for better protective policies in the future. In such a world, the international financial system will need to change in order to offer better preventive and reactive policy measures to help avoid, or at least contain, financial crises.
Author: Sandro Galea
Publisher: Oxford University Press
ISBN: 0197576427
Category : Medical
Languages : en
Pages : 297
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Book Description
A better and healthier time to be alive than ever -- An unhealthy country -- An unhealthy world -- Who we are, the foundational forces -- Where we live, work, and play -- Politics, power, and money -- Compassion -- Social, racial, and economic justice -- Health as a public good -- Understanding what matters most -- Working in complexity and doubt -- Humility and informing the public conversation.
Author: Padma Desai
Publisher: Princeton University Press
ISBN: 9780691113920
Category : Business & Economics
Languages : en
Pages : 326
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Book Description
A sweeping critical account of the financial crises that rocked East Asia and other parts of the world beginning with the collapse of the Thai baht in 1997. Padma Desai retraces the story of Asia's "Crisis Five"--Indonesia, Malaysia, South Korea, the Philippines and Thailand.
Author: Roberto Chang
Publisher: World Bank Publications
ISBN:
Category : Bankruptcy and Resolution of Financial Distress
Languages : en
Pages : 40
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Book Description
What can the international community do to prevent financial contagion?
Author: Hal S. Scott
Publisher: MIT Press
ISBN: 0262034379
Category : Business & Economics
Languages : en
Pages : 439
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Book Description
An argument that contagion is the most significant risk facing the financial system and that Dodd¬Frank has reduced the government's ability to respond effectively. The Dodd–Frank Act of 2010 was intended to reform financial policies in order to prevent another massive crisis such as the financial meltdown of 2008. Dodd–Frank is largely premised on the diagnosis that connectedness was the major problem in that crisis—that is, that financial institutions were overexposed to one another, resulting in a possible chain reaction of failures. In this book, Hal Scott argues that it is not connectedness but contagion that is the most significant element of systemic risk facing the financial system. Contagion is an indiscriminate run by short-term creditors of financial institutions that can render otherwise solvent institutions insolvent. It poses a serious risk because, as Scott explains, our financial system still depends on approximately $7.4 to $8.2 trillion of runnable and uninsured short-term liabilities, 60 percent of which are held by nonbanks. Scott argues that efforts by the Federal Reserve, the FDIC, and the Treasury to stop the contagion that exploded after the bankruptcy of Lehman Brothers lessened the economic damage. And yet Congress, spurred by the public's aversion to bailouts, has dramatically weakened the power of the government to respond to contagion, including limitations on the Fed's powers as a lender of last resort. Offering uniquely detailed forensic analyses of the Lehman Brothers and AIG failures, and suggesting alternative regulatory approaches, Scott makes the case that we need to restore and strengthen our weapons for fighting contagion.
Author: Shalendra D. Sharma
Publisher: Cambridge University Press
ISBN: 1107027209
Category : Business & Economics
Languages : en
Pages : 405
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Book Description
This book is an authoritative account of the economic and political roots of the 2008 financial crisis. It examines why it was triggered in the United States, why it morphed into the Great Recession, and why the contagion spread with such ferocity around the globe. It also examines how and why economies - including the Eurozone, Russia, China, India, East Asia, and the Middle East - have been impacted and explores their response to the unprecedented challenges of the crisis and the effectiveness of their policy measures. Global Financial Contagion specifically looks at how the Obama administration's policy missteps have contributed to America's huge debt and slow recovery, why the Eurozone's response to its existential crisis has become a never-ending saga, and why the G-20's efforts to create a new international financial architecture may fall short. This book will long be regarded as the standard account of the crisis and its aftermath.
Author: Álvarez-García, Begoña
Publisher: IGI Global
ISBN: 1799824411
Category : Business & Economics
Languages : en
Pages : 357
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Book Description
Over the past years, significant changes have occurred in the corporate sector arising from globalization, increasing international competitiveness, and intensive use of information and communication technologies (ICTs). These developments have led to new corporate and social behaviors that are affecting the entire corporate value chain. Thus, business organizations are focusing on technological innovation as a driving force of development. Emerging Tools and Strategies for Financial Management is a pivotal reference source that explores both practical and theoretical perspectives on how financial management is evolving and how future consequences of technological innovation will affect individuals, businesses, and society. While highlighting topics such as financial imbalance, venture capital, and shadow banking, this publication explores the relationship between companies and their customers and the methods of generating changes in today’s enterprises. This book is ideally designed for business managers, financial analysts, financial controllers, directors, finance officers, treasurers, entrepreneurs, CEOs, academicians, students, and research professionals.
Author: Jun Jie Woo
Publisher: World Scientific
ISBN: 9811241414
Category : Political Science
Languages : en
Pages : 163
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Book Description
From the financial contagion of the 2007 Global Financial Crisis (GFC) to viral contagion in the recent COVID-19 pandemic, Singapore has been severely impacted by ripples and shockwaves that have emanated from global financial and healthcare crises. At the same time, it has proven to be highly resilient amidst such instability. This book provides an in-depth account of Singapore's policy responses to the COVID-19 pandemic and GFC. It focuses on the policy capacity-building efforts that have taken place in the aftermath of earlier crises such as the 2003 Severe Acute Respiratory Syndrome (SARS) outbreak and the 1997 Asian Financial Crisis.Linked across time and space, these four crises — SARS, COVID-19, the AFC and GFC — reflect a consistent pattern in Singapore's approach to crisis management. This is a pattern that involves policy learning and capacity-building after each crisis, and the application of these lessons and capacities to subsequent crises. In focusing on the role of policy capacity in Singapore's crisis response measures, this book will provide policymakers and practitioners with a useful framework that can be used to plan for future crises and pandemics.
Author: Mardi Dungey
Publisher: Oxford University Press
ISBN: 0199842604
Category : Business & Economics
Languages : en
Pages : 232
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Book Description
Financial crises often transmit across geographical borders and different asset classes. Modeling these interactions is empirically challenging, and many of the proposed methods give different results when applied to the same data sets. In this book the authors set out their work on a general framework for modeling the transmission of financial crises using latent factor models. They show how their framework encompasses a number of other empirical contagion models and why the results between the models differ. The book builds a framework which begins from considering contagion in the bond markets during 1997-1998 across a number of countries, and culminates in a model which encompasses multiple assets across multiple countries through over a decade of crisis events from East Asia in 1997-1998 to the sub prime crisis during 2008. Program code to support implementation of similar models is available.
Author: Adam Kucharski
Publisher: Profile Books
ISBN: 1782834303
Category : Medical
Languages : en
Pages : 302
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Book Description
An Observer Book of the Year A Times Science Book of the Year A New Statesman Book of the Year A Financial Times Science Book of the Year 'Astonishingly bold' Daily Mail 'It is hard to imagine a more timely book ... much of the modern world will make more sense having read it.' The Times We live in a world that's more interconnected than ever before. Our lives are shaped by outbreaks - of disease, of misinformation, even of violence - that appear, spread and fade away with bewildering speed. To understand them, we need to learn the hidden laws that govern them. From 'superspreaders' who might spark a pandemic or bring down a financial system to the social dynamics that make loneliness catch on, The Rules of Contagion offers compelling insights into human behaviour and explains how we can get better at predicting what happens next. Along the way, Adam Kucharski explores how innovations spread through friendship networks, what links computer viruses with folk stories - and why the most useful predictions aren't necessarily the ones that come true. Now revised and updated with content on Covid-19.
