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Author: S. Ali Abbas
Publisher: Oxford University Press
ISBN: 0192591398
Category : Business & Economics
Languages : en
Pages : 455
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Book Description
The last time global sovereign debt reached the level seen today was at the end of the Second World War, and this shaped a generation of economic policymaking. International institutions were transformed, country policies were often draconian and distortive, and many crises ensued. By the early 1970s, when debt fell back to pre-war levels, the world was radically different. It is likely that changes of a similar magnitude -for better and for worse - will play out over coming decades. Sovereign Debt: A Guide for Economists and Practitioners is an attempt to build some structure around the issues of sovereign debt to help guide economists, practitioners and policymakers through this complicated, but not intractable, subject. Sovereign Debt brings together some of the world's leading researchers and specialists in sovereign debt to cover a range of sub-disciplines within this vast topic. It explores debt management with debt sustainability; debt reduction policies with crisis prevention policies; and the history with the conjuncture. It is a foundation text for all those interested in sovereign debt, with a particular focus real world examples and issues.
Author: S. Ali Abbas
Publisher: Oxford University Press
ISBN: 0192591398
Category : Business & Economics
Languages : en
Pages : 455
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Book Description
The last time global sovereign debt reached the level seen today was at the end of the Second World War, and this shaped a generation of economic policymaking. International institutions were transformed, country policies were often draconian and distortive, and many crises ensued. By the early 1970s, when debt fell back to pre-war levels, the world was radically different. It is likely that changes of a similar magnitude -for better and for worse - will play out over coming decades. Sovereign Debt: A Guide for Economists and Practitioners is an attempt to build some structure around the issues of sovereign debt to help guide economists, practitioners and policymakers through this complicated, but not intractable, subject. Sovereign Debt brings together some of the world's leading researchers and specialists in sovereign debt to cover a range of sub-disciplines within this vast topic. It explores debt management with debt sustainability; debt reduction policies with crisis prevention policies; and the history with the conjuncture. It is a foundation text for all those interested in sovereign debt, with a particular focus real world examples and issues.
Author: C. Fred Bergsten
Publisher: Peterson Institute for International Economics
ISBN: 0881327123
Category : Political Science
Languages : en
Pages : 456
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Book Description
In September 1985, emissaries of the world's five leading industrial nations—the United States, Britain, France, Germany, and Japan—secretly gathered at the Plaza Hotel in New York City and unveiled an unprecedented effort to correct the largest set of current account and exchange rate imbalances that had ever threatened the world economy. The Plaza Accord is credited with sharply realigning exchange rates, significantly reducing current account imbalances, and countering protectionist pressures in the United States. But did the Accord provide a foundation for ongoing international financial stability and policy coordination? Or was it simply a unique one-time coincidence of national interests? The Plaza experience continues to inform today's debates about the limits and possibilities of international monetary cooperation. In late 2015, leading policymakers and economists—including those who were involved in the Accord's design, negotiation, and implementation—held a Plaza Retrospective conference at the Baker Institute for Public Policy to evaluate the Accord's legacy and how its collaborative spirit can be applied today. This volume presents their views and analyses to provide guidance for a time when the world again faces the prospect of currency disequilibria, growing imbalances, trade policy reactions, and thus uncertainty for both the global economy and world politics.
Author: Kurt Schuler
Publisher:
ISBN: 9781941801017
Category : International finance
Languages : en
Pages : 700
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Book Description
The Bretton Woods Transcripts is the verbatim record of meetings of the conference that established the International Monetary Fund and the World Bank. The Bretton Woods conference, named after the New Hampshire town where the conference was held in July 1944, began a new era in international economic cooperation that continues today. Delegates from 44 countries attended the conference. They were a high-powered group: many would later become top officials of the IMF and World Bank, finance ministers, central bank governors, even presidents and prime ministers. Among them, the best known then and now was John Maynard Keynes, the most influential economist of the 20th century, who chaired the meetings that established the World Bank. The conference transcripts were never intended for publication, and give a rare word-for-word record of what participants at a major international gathering said behind closed doors. -- The Related material on the Publisher's website contain photographs of documents circulated at the 1944 conference, from daily news bulletins to the telephone directory at the Mount Washington Hotel. These documents were not published in the 1948 publication of the conference proceedings because they were considered to be of low interest.--Book Jacket.
Author: Benn Steil
Publisher: Princeton University Press
ISBN: 0691149097
Category : Business & Economics
Languages : en
Pages : 480
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Book Description
Recounts the events of the Bretton Woods accords, presents portaits of the two men at the center of the drama, and reveals Harry White's admiration for Soviet economic planning and communications with intelligence officers.
Author: Michael D. Bordo
Publisher: University of Chicago Press
ISBN: 0226066908
Category : Business & Economics
Languages : en
Pages : 692
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Book Description
At the close of the Second World War, when industrialized nations faced serious trade and financial imbalances, delegates from forty-four countries met in Bretton Woods, New Hampshire, in order to reconstruct the international monetary system. In this volume, three generations of scholars and policy makers, some of whom participated in the 1944 conference, consider how the Bretton Woods System contributed to unprecedented economic stability and rapid growth for 25 years and discuss the problems that plagued the system and led to its eventual collapse in 1971. The contributors explore adjustment, liquidity, and transmission under the System; the way it affected developing countries; and the role of the International Monetary Fund in maintaining a stable rate. The authors examine the reasons for the System's success and eventual collapse, compare it to subsequent monetary regimes, such as the European Monetary System, and address the possibility of a new fixed exchange rate for today's world.
Author: Michael D. Bordo
Publisher: Hoover Press
ISBN: 0817920560
Category : Business & Economics
Languages : en
Pages : 381
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Book Description
Since the end of the Great Recession in 2009 the central banks of the advanced countries have taken unprecedented actions to reflate and stimulate their economies. There have been significant differences in the timing and pace of these actions. These independent monetary policy actions have had significant spillover effects on the economies and monetary policy strategies of other advanced countries. In addition the monetary policy actions and interventions of the advanced countries have had a significant impact on the emerging market economies leading to the charge of 'currency wars.' The perceived negative consequences of spillovers from the actions of national central banks has led to calls for international monetary policy coordination. The arguments for coordination based on game theory are the same today as back in the 1980s, which led to accords which required that participant countries follow policies to improve global welfare at the expense of domestic fundamentals. This led to disastrous consequences. An alternative approach to the international spillovers of national monetary policy actions is to view them as deviations from rules based monetary policy. In this view a return to rules based monetary policy and a rolling back of the " global great deviation" by each country's central bank would lead to a beneficial policy outcome without the need for explicit policy coordination. In this book we report the results from a recent conference which brought together academics, market participants, and policy makers to focus on these issues. The consensus of much of the conference was on the need for a classic rules based reform of the international monetary system.
Author: Giulio Gallarotti
Publisher: Routledge
ISBN: 9781138841154
Category : Business & Economics
Languages : en
Pages : 256
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Book Description
This new book is the first chronicle of how domestic politics (in the form of the guardian state) has shaped the monetary landscape from the time of the emergence of an international monetary system in the late 19th century, to the present day. Since the emergence of an international monetary system under the classical gold standard in the late-19th century, the landscape defining monetary relations and diplomacy has reflected a fundamental sensitivity to the structures and processes comprising domestic politics. Various influential histories of monetary relations proclaim the influence of domestic politics, whilst others attest to the power of domestic politics in a more restricted historical period. While these and other conventional monetary histories underscore the influence of domestic political forces in shaping monetary history, none has chronicled the precise process of this influence over the history of the international monetary system: 1880- present. The book provides many lessons from which implications can be drawn about an important issue in international economic relations: the present state and problems of the global monetary system and the possibilities for monetary cooperation.
Author: Claudia Kedar
Publisher: Temple University Press
ISBN: 1439909113
Category : Business & Economics
Languages : en
Pages : 265
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Book Description
The International Monetary Fund (IMF) has played a critical role in the global economy since the postwar era. But, claims Claudia Kedar, behind the strictly economic aspects of the IMF’s intervention, there are influential interactions between IMF technocrats and local economists—even when countries are not borrowing money. In The International Monetary Fund and Latin America, Kedar seeks to expose the motivations and constraints of the operations of both the IMF and borrowers. With access to never-before-seen archive materials, Kedar reveals both the routine and behind-the-scenes practices that have depicted International Monetary Fund–Latin American relations in general and the asymmetrical IMF-Argentina relations in particular. Kedar also analyzes the “routine of dependency” that characterizes IMF-borrower relations with several Latin American countries such as Chile, Peru, and Brazil. The International Monetary Fund and Latin America shows how debtor countries have adopted IMF’s policies during past decades and why Latin American leaders today largely refrain from knocking at the IMF’s doors again.
Author:
Publisher:
ISBN:
Category : Money
Languages : en
Pages : 936
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Book Description
Author: Henry Benajah Russell
Publisher: New York : Harper
ISBN:
Category : Currency question
Languages : en
Pages : 500
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Book Description
