Money Markets And Democracy

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Money, Markets, and Democracy

George Bragues
Money Markets and Democracy Book PDF

Author : George Bragues
Publisher : Springer
Page : 320 pages
File Size : 42,8 Mb
Release : 2016-11-11
Category : Political Science
ISBN : 9781137569400

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Money, Markets, and Democracy by George Bragues Pdf

This book offers a comprehensive analysis of the ways that politics and financial markets impact one another. In this relationship, politics is the ultimate controlling force. The kinds and prices of financial instruments that get traded and the individuals and institutions that get to trade them, not to mention the rules under which everyone trades, are all matters decisively influenced by an array of political variables - sometimes for the better, but all too often for the worse. The fault for this political skewing of the markets chiefly lies with democracy. Through its commitment to equality and its inclination towards fiscal profligacy, democracy hinders the markets from acting as a greater force for social good. To fix this skewing of finance, democracy’s troubling tendencies must be squarely faced and curbed by a return to its monetary roots. Democracy must reinstall gold at the monetary foundations of our financial markets.

Money, Markets, and the State

Ton Notermans
Money Markets and the State Book PDF

Author : Ton Notermans
Publisher : Cambridge University Press
Page : 326 pages
File Size : 44,9 Mb
Release : 2000-04-13
Category : Business & Economics
ISBN : 9780521633390

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Money, Markets, and the State by Ton Notermans Pdf

This book, first published in 2000, provides in-depth explanations behind the successes and failures of the economic policies of social democratic governments.

Banking on Democracy

Javier Santiso
Banking on Democracy Book PDF

Author : Javier Santiso
Publisher : Unknown
Page : 0 pages
File Size : 48,5 Mb
Release : 2013
Category : Capital market
ISBN : 0262019000

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Banking on Democracy by Javier Santiso Pdf

A data-driven investigation of the interaction between politics and finance in emerging markets, focusing on Latin America. Politics matter for financial markets and financial markets matter for politics, and nowhere is this relationship more apparent than in emerging markets. In Banking on Democracy, Javier Santiso investigates the links between politics and finance in countries that have recently experienced both economic and democratic transitions. He focuses on elections, investigating whether there is a "democratic premium"--whether financial markets and investors tend to react positively to elections in emerging markets. Santiso devotes special attention to Latin America, where over the last three decades many countries became democracies, with regular elections, just as they also became open economies dependent on foreign capital and dominated bond markets. Santiso's analysis draws on a unique set of primary databases (developed during his years at the OECD Development Centre) covering an entire decade: more than 5,000 bank and fund manager portfolio recommendations on emerging markets. Santiso examines the trajectory of Brazil, for example, through its presidential elections of 2002, 2006, and 2010 and finds a decoupling of financial and political cycles that occurred also in many other emerging economies. He charts this evolution through the behavior of brokers, analysts, fund managers, and bankers. Ironically, Santiso points out, while some emerging markets have decoupled politics and finance, in the wake of the 2008-2012 financial crisis many developed economies (Europe and the United States) have experienced a recoupling between finance and politics.

Wall Street’s Assault on Democracy

Georges Ugeux
Wall Street s Assault on Democracy Book PDF

Author : Georges Ugeux
Publisher : Springer Nature
Page : 246 pages
File Size : 49,7 Mb
Release : 2023-11-22
Category : Business & Economics
ISBN : 9783031290947

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Wall Street’s Assault on Democracy by Georges Ugeux Pdf

On November 24, 2020, in the midst of a global pandemic, the Dow Jones Index surpassed 30,000 points for the first time ever. This historic moment exposed the incredible disconnect between financial markets and society. The stock market’s one hundred percent rebound was triggered by a massive injection of capital by the US Federal Reserve and by fiscal stimulus measures that reached $16 trillion globally in only a year. It was the taxpayer who came to the aid of the shareholders. This imbalance between low- and high-income individuals has become unbearable and calls into question the mechanisms that allow such an abuse of financial power to exist. This abuse has allowed populism to flourish, in a world where humanism should prevail. This book invites the reader to understand how such a financial drift of capitalism was even possible and proposes reforms to correct the system. Written by the former Group Executive Vice President for International & Research at the New York Stock Exchange, this volume provides concrete solutions for democratizing financial markets and reintroducing the morals and ethics that these markets and its leaders are so sorely lacking. Ugeux argues that the purpose of such reforms is to reduce the inequalities which are plaguing our democracies. Citizens are losing hope that equity exists in the system and it has become clear, as fundamental liberties like right voting rights are being threatened – that the problem lies much deeper. Ugeux insists that a change of perspective and a redefinition of societal goals is essential: social and solidarity capitalism is possible only if our leaders listen to the expectations of their citizens. While it is supported by research and facts, this book includes elements of opinion essays with an educational objective. It aims to educate readers who want to better understand these complex issues, without having to be specialists.

Democracy and Money

George C. Bitros,Emmanouil M. L. Economou,Nicholas C. Kyriazis
Democracy and Money Book PDF

Author : George C. Bitros,Emmanouil M. L. Economou,Nicholas C. Kyriazis
Publisher : Routledge
Page : 338 pages
File Size : 47,6 Mb
Release : 2020-07-12
Category : Business & Economics
ISBN : 9781000097122

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Democracy and Money by George C. Bitros,Emmanouil M. L. Economou,Nicholas C. Kyriazis Pdf

The authors of this book argue that post-war fiscal and monetary policies in the U.S. are prone to more frequent and more destabilizing domestic and international financial crises. So, in the aftermath of the one that erupted in 2008, they propose that now we are sleepwalking into another, which under the prevailing institutional circumstances could develop into a worldwide financial Armageddon. Thinking ahead of such a calamity, this book presents for the first time a model of democratic governance with privately produced money based on the case of Athens in Classical times, and explains why, if it is conceived as a benchmark for reference and adaptation, it may provide an effective way out from the dreadful predicament that state managed fiat money holds for the stability of Western-type democracies and the international financial system. As the U.S. today, Athens at that time reached the apex of its military, economic, political, cultural, and scientific influence in the world. But Athens triumphed through different approaches to democracy and fundamentally different fiscal and monetary policies than the U.S. Thus the readers will have the opportunity to learn about these differences and appreciate the potential they offer for confronting the challenges contemporary democracies face under the leadership of the U.S. The book will find audiences among academics, university students, and researchers across a wide range of fields and subfields, as well as legislators, fiscal and monetary policy makers, and economic and financial consultants.

Banking on Democracy

Javier Santiso
Banking on Democracy Book PDF

Author : Javier Santiso
Publisher : MIT Press
Page : 351 pages
File Size : 50,6 Mb
Release : 2013-06-14
Category : Business & Economics
ISBN : 9780262313711

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Banking on Democracy by Javier Santiso Pdf

A data-driven investigation of the interaction between politics and finance in emerging markets, focusing on Latin America. Politics matter for financial markets and financial markets matter for politics, and nowhere is this relationship more apparent than in emerging markets. In Banking on Democracy, Javier Santiso investigates the links between politics and finance in countries that have recently experienced both economic and democratic transitions. He focuses on elections, investigating whether there is a “democratic premium”—whether financial markets and investors tend to react positively to elections in emerging markets. Santiso devotes special attention to Latin America, where over the last three decades many countries became democracies, with regular elections, just as they also became open economies dependent on foreign capital and dominated bond markets. Santiso's analysis draws on a unique set of primary databases (developed during his years at the OECD Development Centre) covering an entire decade: more than 5,000 bank and fund manager portfolio recommendations on emerging markets. Santiso examines the trajectory of Brazil, for example, through its presidential elections of 2002, 2006, and 2010 and finds a decoupling of financial and political cycles that occurred also in many other emerging economies. He charts this evolution through the behavior of brokers, analysts, fund managers, and bankers. Ironically, Santiso points out, while some emerging markets have decoupled politics and finance, in the wake of the 2008–2012 financial crisis many developed economies (Europe and the United States) have experienced a recoupling between finance and politics.

Money, Markets, and the State

Ton Notermans
Money Markets and the State Book PDF

Author : Ton Notermans
Publisher : Cambridge University Press
Page : 324 pages
File Size : 49,7 Mb
Release : 2007-01-18
Category : Political Science
ISBN : 0521033268

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Money, Markets, and the State by Ton Notermans Pdf

Money, Markets, and the State provides in-depth explanations behind the various successes and failures of the economic policies of social democratic governments in five Western European countries: Germany, Great Britain, Sweden, Norway and the Netherlands. Dr. Notermans examines these economic systems from the inflation of the early twenties, through the Great Depression of the thirties, and then continues his analysis up to present-day mass unemployment. Drawing on a wide range of historical and statistical sources, Dr. Notermans argues that the fate of social democratic economic policy hinges critically on the political and institutional success of maintaining price stability.

Financial Globalization and Democracy in Emerging Markets

L. Armijo
Financial Globalization and Democracy in Emerging Markets Book PDF

Author : L. Armijo
Publisher : Springer
Page : 348 pages
File Size : 40,6 Mb
Release : 1999-01-13
Category : Business & Economics
ISBN : 9780333994894

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Financial Globalization and Democracy in Emerging Markets by L. Armijo Pdf

When Mexico's peso crisis occurred in December 1994, all of Latin America experienced the 'tequila effect'. In January 1998, after seven months of financial turmoil in East Asia, Alan Greenspan, the usually reticent Chairman of the US Federal Reserve Bank, noted that such 'vicious cycles...may, in fact, be a defining characteristic of the new high-tech international financial system'. This book examines the impact of the new, highly liquid portfolio capital flows on governments, opposition, politicians, business and the workforce in such emerging market countries as Mexico, Brazil, Russia, Indonesia, Vietnam, Thailand and Indonesia. Hailed as 'exemplary and innovative', 'fine-grained and accessible' and 'a must read', this collection of original essays in newly available in paperback.

Money, Markets, and Monarchies

Adam Hanieh
Money Markets and Monarchies Book PDF

Author : Adam Hanieh
Publisher : Cambridge University Press
Page : 315 pages
File Size : 49,8 Mb
Release : 2018-09-13
Category : Business & Economics
ISBN : 9781108429146

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Money, Markets, and Monarchies by Adam Hanieh Pdf

An original and empirically grounded analysis of the Gulf monarchies and their role in shaping the political economy of the Middle East.

Experiments in Financial Democracy

Aldo Musacchio
Experiments in Financial Democracy Book PDF

Author : Aldo Musacchio
Publisher : Cambridge University Press
Page : 329 pages
File Size : 55,6 Mb
Release : 2009-09-14
Category : Business & Economics
ISBN : 9780521518895

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Experiments in Financial Democracy by Aldo Musacchio Pdf

A detailed historical description of the evolution of corporate governance and stock markets in Brazil in the late nineteenth and twentieth centuries.

Financial Openness, Democracy, and Redistributive Policy

Mansoor Dailami
Financial Openness Democracy and Redistributive Policy Book PDF

Author : Mansoor Dailami
Publisher : World Bank Publications
Page : 38 pages
File Size : 54,5 Mb
Release : 2000
Category : Banks and Banking Reform
ISBN : 8210379456XXX

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Financial Openness, Democracy, and Redistributive Policy by Mansoor Dailami Pdf

What explains the spread of both democracy and financial openness at this time in history, given the constraining impact of financial market integration on national policy autonomy? International policy coordination is part of the answer, but not all. Also important is the presence of cost-effective redistributive schemes that provide insurance against the risk of financial instability.

Exchange Rate Chaos

Charles R. Geisst
Exchange Rate Chaos Book PDF

Author : Charles R. Geisst
Publisher : Routledge
Page : 192 pages
File Size : 41,8 Mb
Release : 2002-01-04
Category : Business & Economics
ISBN : 9781134837175

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Exchange Rate Chaos by Charles R. Geisst Pdf

The Bretton Woods system ensured a quarter of a century of relative stability on the world's financial markets. The quarter of a century which has followed has brought financial chaos and excessive financial volatility. Exchange Rate Chaos: 25 Years of Financial and Consumer Democracy describes and compares US and British financial history during this period. It highlights: * similarites in financial developments between the two countries * consumer democracy: Have the wishes of consumers dominated exchange rate policy? * The decline of the small investor and the hegemony of financial institutions * How the floating exchange rates are manipulated to government advantage One of the few financial histories to deal with the postwar period, this book shows how financial developments have shaped contemporary society and politics.

Money, Markets, and Sovereignty

Benn Steil,Manuel Hinds
Money Markets and Sovereignty Book PDF

Author : Benn Steil,Manuel Hinds
Publisher : Yale University Press
Page : 301 pages
File Size : 45,5 Mb
Release : 2009-04-01
Category : Business & Economics
ISBN : 9780300156140

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Money, Markets, and Sovereignty by Benn Steil,Manuel Hinds Pdf

Winner of the 2010 Hayek Book Prize given by the Manhattan Institute "Money, Markets and Sovereignty is a surprisingly easy read, given the complicated issues covered. In it, Mr. Steil and Mr. Hinds consistently challenge today's statist nostrums."—Doug Bandow, The Washington Times In this keenly argued book, Benn Steil and Manuel Hinds offer the most powerful defense of economic liberalism since F. A. Hayek published The Road to Serfdom more than sixty years ago. The authors present a fascinating intellectual history of monetary nationalism from the ancient world to the present and explore why, in its modern incarnation, it represents the single greatest threat to globalization. Steil and Hinds describe the current state of international economic relations as both unusual and precarious. Eras of economic protectionism have historically coincided with monetary nationalism, while eras of liberal trade have been accompanied by a universal monetary standard. But today, the authors show, an unprecedentedly liberal global trade regime operates side by side with the most extreme doctrine of monetary nationalism ever contrived—a situation bound to trigger periodic crises. Steil and Hinds call for a revival of the political and economic thinking that underlay earlier great periods of globalization, thinking that is increasingly under threat by more recent ideas about what sovereignty means.

Democratic Processes and Financial Markets

William Bernhard,David Leblang
Democratic Processes and Financial Markets Book PDF

Author : William Bernhard,David Leblang
Publisher : Cambridge University Press
Page : 272 pages
File Size : 54,8 Mb
Release : 2006-07-24
Category : Political Science
ISBN : 0521861225

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Democratic Processes and Financial Markets by William Bernhard,David Leblang Pdf

The authors examine the conditions under which democratic events, including elections, cabinet formations, and government dissolutions, affect asset markets. Where these events have less predictable outcomes, market returns are depressed and volatility increases. In contrast, where market actors can forecast the result, returns do not exhibit any unusual behavior. Further, political expectations condition how markets respond to the political process. When news causes market actors to update their political beliefs, market actors reallocate their portfolios, and overall market behavior changes. To measure political information, Professors Bernhard and Leblang employ sophisticated models of the political process. They draw on a variety of models of market behavior, including the efficient markets hypothesis, capital asset pricing model, and arbitrage pricing theory, to trace the impact of political events on currency, stock, and bond markets. The analysis will appeal to academics, graduate students, and advanced undergraduates across political science, economics, and finance.

When Wall Street Met Main Street

Julia C. Ott
When Wall Street Met Main Street Book PDF

Author : Julia C. Ott
Publisher : Harvard University Press
Page : 348 pages
File Size : 52,8 Mb
Release : 2011-06-01
Category : Business & Economics
ISBN : 9780674061217

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When Wall Street Met Main Street by Julia C. Ott Pdf

The financial crisis that began in 2008 has made Americans keenly aware of the enormous impact Wall Street has on the economic well-being of the nation and its citizenry. How did financial markets and institutions-commonly perceived as marginal and elitist at the beginning of the twentieth century-come to be seen as the bedrock of American capitalism? How did stock investment-once considered disreputable and dangerous-first become a mass practice? Julia Ott tells the story of how, between the rise of giant industrial corporations and the Crash of 1929, the federal government, corporations, and financial institutions campaigned to universalize investment, with the goal of providing individual investors with a stake in the economy and the nation. As these distributors of stocks and bonds established a broad, national market for financial securities, they debated the distribution of economic power, the proper role of government, and the meaning of citizenship under modern capitalism. By 1929, the incidence of stock ownership had risen to engulf one quarter of American households in the looming financial disaster. Accordingly, the federal government assumed responsibility for protecting citizen-investors by regulating the financial securities markets. By recovering the forgotten history of this initial phase of mass investment and the issues surrounding it, Ott enriches and enlightens contemporary debates over economic reform.