Sovereign Of The Market

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Sovereign of the Market

Author : Jeffrey Sklansky
Publisher : University of Chicago Press
Page : 320 pages
File Size : 53,9 Mb
Release : 2017-11-03
Category : Business & Economics
ISBN : 9780226480473

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Sovereign of the Market by Jeffrey Sklansky Pdf

What should serve as money, who should control its creation and circulation, and according to what rules? For more than two hundred years, the “money question” shaped American social thought, becoming a central subject of political debate and class conflict. Sovereign of the Market reveals how and why this happened. Jeffrey Sklansky’s wide-ranging study comprises three chronological parts devoted to major episodes in the career of the money question. First, the fight over the innovation of paper money in colonial New England. Second, the battle over the development of commercial banking in the new United States. And third, the struggle over the national banking system and the international gold standard in the late nineteenth century. Each section explores a broader problem of power that framed each conflict in successive phases of capitalist development: circulation, representation, and association. The three parts also encompass intellectual biographies of opposing reformers for each period, shedding new light on the connections between economic thought and other aspects of early American culture. The result is a fascinating, insightful, and deeply considered contribution to the history of capitalism.

Handbook of Asian Finance

Author : David LEE Kuo Chuen,Greg N. Gregoriou
Publisher : Academic Press
Page : 544 pages
File Size : 55,7 Mb
Release : 2014-05-15
Category : Business & Economics
ISBN : 9780128010631

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Handbook of Asian Finance by David LEE Kuo Chuen,Greg N. Gregoriou Pdf

Participants in Asian financial markets have witnessed the unprecedented growth and sophistication of their investments since the 1997 crisis. Handbook of Asian Finance: REITs, Trading, and Fund Performance analyzes the forces behind these growth rates. Insights into banking, fund performance, and the effects of trading technologies for practitioners to tax evasion, market manipulation, and corporate governance issues are all here, presented by expert scholars. Offering broader and deeper coverage than other handbooks, the Handbook of Asian Finance: REITs, Trading, and Fund Performance explains what is going on in Asia today. Presents the only micro- and market-related analysis of pan-Asian finance available today Explores the implications implicit in the expansion of sovereign funds and the growth of the hedge fund and real estate fund management industries Investigates the innovations in technology that have ushered in faster capital flow and larger trading volumes

The Shadow Market

Author : Eric J. Weiner
Publisher : Simon and Schuster
Page : 338 pages
File Size : 45,7 Mb
Release : 2011-10-11
Category : Business & Economics
ISBN : 9781439109168

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The Shadow Market by Eric J. Weiner Pdf

Argues that sovereign wealth funds and rogue nations are threatening the security of America's financial future, explaining how they undermine the economy and the stability of banking institutions.

Economics of Sovereign Wealth Funds

Author : Mr.Udaibir S. Das,Mr.Adnan Mazarei,Han van der Hoorn
Publisher : International Monetary Fund
Page : 330 pages
File Size : 41,6 Mb
Release : 2010-12-09
Category : Business & Economics
ISBN : 9781589069275

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Economics of Sovereign Wealth Funds by Mr.Udaibir S. Das,Mr.Adnan Mazarei,Han van der Hoorn Pdf

The book covers a wide range of topics of relevance to policymakers in countries that have sovereign wealth funds (SWFs) and those that receive SWF investments. Renowned experts in the field have contributed chapters. The book is organized around four themes: (1) the role and macrofinancial linkages of SWFs, (2) institutional factors, (3) investment approaches and financial markets, and (4) the postcrisis outlook. The book also discusses the challenges facing sovereign wealth funds in the coming years, from an inside perspective on countries, including Canada, Chile, China, Norway, Russia, and New Zealand. Economics of Sovereign Wealth Funds will contribute to a further understanding of the nature, strategies and behavior of SWFs and the environment in which they operate, as their importance is likely to grow in the coming years.

Why Not Default?

Author : Jerome E. Roos
Publisher : Princeton University Press
Page : 398 pages
File Size : 44,8 Mb
Release : 2019-02-12
Category : Business & Economics
ISBN : 9780691184937

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Why Not Default? by Jerome E. Roos Pdf

How creditors came to wield unprecedented power over heavily indebted countries—and the dangers this poses to democracy The European debt crisis has rekindled long-standing debates about the power of finance and the fraught relationship between capitalism and democracy in a globalized world. Why Not Default? unravels a striking puzzle at the heart of these debates—why, despite frequent crises and the immense costs of repayment, do so many heavily indebted countries continue to service their international debts? In this compelling and incisive book, Jerome Roos provides a sweeping investigation of the political economy of sovereign debt and international crisis management. He takes readers from the rise of public borrowing in the Italian city-states to the gunboat diplomacy of the imperialist era and the wave of sovereign defaults during the Great Depression. He vividly describes the debt crises of developing countries in the 1980s and 1990s and sheds new light on the recent turmoil inside the Eurozone—including the dramatic capitulation of Greece’s short-lived anti-austerity government to its European creditors in 2015. Drawing on in-depth case studies of contemporary debt crises in Mexico, Argentina, and Greece, Why Not Default? paints a disconcerting picture of the ascendancy of global finance. This important book shows how the profound transformation of the capitalist world economy over the past four decades has endowed private and official creditors with unprecedented structural power over heavily indebted borrowers, enabling them to impose painful austerity measures and enforce uninterrupted debt service during times of crisis—with devastating social consequences and far-reaching implications for democracy.

The Offshore World

Author : Ronen Palan
Publisher : Cornell University Press
Page : 252 pages
File Size : 54,5 Mb
Release : 2006
Category : Business & Economics
ISBN : 0801472954

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The Offshore World by Ronen Palan Pdf

The atlas of contemporary capitalism is curious indeed. A desperately poor and civil-war-wracked nation, Liberia, is the world's shipping superpower; the Cayman Islands the fifth-largest financial center in the world; land-locked Zurich a venerable "offshore" banking center. Indeed, it is estimated that half of the global stock of money passes through tax havens. The logic of the offshore world, where millionaires and corporations roam in search of financial advantage, is slippery. It challenges many conventional assumptions about power and economics.In the single most comprehensive account of the offshore economy, Ronen Palan investigates the legal spaces, unregulated and yet maintained and supported by the state system, that have emerged for purposes of international finance, tax havens, export processing zones, flags of convenience, and e-commerce. The offshore economy had its beginnings in the late nineteenth century, saw early development after the First World War, and metastasized in the 1970s. Palan believes that a rapidly expanding offshore economy is now producing a new market in sovereignty; states have discovered that their rights to write law may be used as a commercial asset. This commercialization of sovereignty, he asserts, undermines the legitimacy of the nation-state and supports a form of nomadic capitalism.

Determinants of Emerging Market Sovereign Bond Spreads

Author : Iva Petrova,Mr.Michael G Papaioannou,Mr.Dimitri Bellas
Publisher : International Monetary Fund
Page : 27 pages
File Size : 53,5 Mb
Release : 2010-12-01
Category : Business & Economics
ISBN : 9781455210886

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Determinants of Emerging Market Sovereign Bond Spreads by Iva Petrova,Mr.Michael G Papaioannou,Mr.Dimitri Bellas Pdf

This paper analyses the determimants of emerging market sovereign bond spreads by examining the short and long-run effects of fundamental (macroeconomic) and temporary (financial market) factors on these spreads. During the current global financial and economic crisis, sovereign bond spreads widened dramatically for both developed and emerging market economies. This deterioration has widely been attributed to rapidly growing public debts and balance sheet risks. Our results indicate that in the long run, fundamentals are significant determinants of emerging market sovereign bond spreads, while in the short run, financial volatility is a more important determinant of sperads than fundamentals indicators.

Sovereign

Author : Ted Dekker
Publisher : FaithWords
Page : 229 pages
File Size : 51,5 Mb
Release : 2013-06-01
Category : Fiction
ISBN : 9781455518197

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Sovereign by Ted Dekker Pdf

Nine years after Rom Sebastian was thrust into the most unlikely of circumstances as hero and bearer of an unimaginable secret, the alliance of his followers is in disarray. An epic battle with The Order has left them scattered and deeply divided both in strategy and resolve in their struggle to become truly alive and free. Only 49 truly alive followers remain loyal to Rom. This meager band must fight for survival as The Order is focused on their total annihilation. Misunderstood and despised, their journey will be one of desperation against a new, more intensely evil Order. As the hand of this evil is raised to strike and destroy them they must rely on their faith in the abiding power of love to overcome all and lead them to sovereignty. SOVEREIGN wonderfully continues the new testament allegory that was introduced in FORBIDDEN and continued in MORTAL.

We, the Sovereign

Author : Gianpaolo Baiocchi
Publisher : John Wiley & Sons
Page : 140 pages
File Size : 45,9 Mb
Release : 2018-08-28
Category : Philosophy
ISBN : 9781509521395

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We, the Sovereign by Gianpaolo Baiocchi Pdf

What does it mean for the people to actually rule? Formal democracy is an empty and cynical shell, while the nationalist Right claims to advance its anti-democratic project in the name of ‘the People’. How can the Left respond in a way that is true to both its radical egalitarianism and its desire to transform the real world? In this book, Gianpaolo Baiocchi argues that the only answer is a radical utopia of popular self-rule. This means that the ‘people’ who rule must be understood as a demos that is totally open, inclusive and egalitarian, constantly expanding its boundaries. But it also means that sovereignty must be absolute, possessing total power over all relevant decisions that impact the conditions of life. Only, he argues, by a process of explosive and creative tension between this radical view of the ‘we’ and an absolute idea of the ‘sovereign’ can we transform our approach to political parties and state institutions and make them instruments of total emancipation. Illustrated by the real-life experiences of movements throughout the world, from Latin America to Southern Europe, Baiocchi’s provocative vision will be essential reading for all activists who want to understand the true meaning of radical democracy in the 21st century.

The Economics of Sovereign Debt and Default

Author : Mark Aguiar,Manuel Amador
Publisher : Princeton University Press
Page : 200 pages
File Size : 41,5 Mb
Release : 2023-09-26
Category : Business & Economics
ISBN : 9780691231433

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The Economics of Sovereign Debt and Default by Mark Aguiar,Manuel Amador Pdf

An integrated approach to the economics of sovereign default Fiscal crises and sovereign default repeatedly threaten the stability and growth of economies around the world. Mark Aguiar and Manuel Amador provide a unified and tractable theoretical framework that elucidates the key economics behind sovereign debt markets, shedding light on the frictions and inefficiencies that prevent the smooth functioning of these markets, and proposing sensible approaches to sovereign debt management. The Economics of Sovereign Debt and Default looks at the core friction unique to sovereign debt—the lack of strong legal enforcement—and goes on to examine additional frictions such as deadweight costs of default, vulnerability to runs, the incentive to “dilute” existing creditors, and sovereign debt’s distortion of investment and growth. The book uses the tractable framework to isolate how each additional friction affects the equilibrium outcome, and illustrates its counterpart using state-of-the-art computational modeling. The novel approach presented here contrasts the outcome of a constrained efficient allocation—one chosen to maximize the joint surplus of creditors and government—with the competitive equilibrium outcome. This allows for a clear analysis of the extent to which equilibrium prices efficiently guide the government’s debt and default decisions, and of what drives divergences with the efficient outcome. Providing an integrated approach to sovereign debt and default, this incisive and authoritative book is an ideal resource for researchers and graduate students interested in this important topic.

The Sovereign Consumer

Author : Niklas Olsen
Publisher : Springer
Page : 308 pages
File Size : 45,7 Mb
Release : 2018-08-25
Category : Social Science
ISBN : 9783319895840

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The Sovereign Consumer by Niklas Olsen Pdf

This book presents a new intellectual history of neoliberalism through the exploration of the sovereign consumer. Invented by neoliberal thinkers in the interwar period, this figure has been crucial to the construction and legimitization of neoliberal ideology and politics. Analysis of the sovereign consumer across time and space demonstrates how neoliberals have linked the figure both to the idea of democracy as a method of choice, and also to a re-invention of the market as the democratic forum par excellence. Moreover, Olsen contemplates how the sovereign consumer has served to marketize politics and functioned as a major driver in a wide-ranging transformation in political thinking, subjecting traditional political values to the narrow pursuit of economic growth. A politically timely project, The Sovereign Consumer will have a wide appeal in academic circles, especially for those interested in consumer and welfare studies, and in political, economic and cultural thought in the twentieth century.

This Sovereign Land

Author : Daniel Kemmis
Publisher : Island Press
Page : 295 pages
File Size : 44,5 Mb
Release : 2013-03-22
Category : Law
ISBN : 9781610911139

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This Sovereign Land by Daniel Kemmis Pdf

In the eight states of the interior West (Arizona, Colorado, Idaho, Montana, Nevada, New Mexico, Utah, and Wyoming), 260 million acres -- more than 48 percent of the land base -- are owned by the federal government and managed by its Washington, D.C.-based agencies. Like many other peoples throughout history who have bristled under the controlling hand of a remote government, westerners have long nursed a deep resentment toward our nation's capital. Rumblings of revolution have stirred for decades, bolstered in recent years by increasing evidence of the impossibility of a distant, centralized government successfully managing the West's widespread and far-flung lands. In This Sovereign Land, Daniel Kemmis offers a radical new proposal for giving the West control over its land. Unlike those who wish to privatize the public lands and let market forces decide their fate, Kemmis, a leading western Democrat and committed environmentalist, argues for keeping the public lands public, but for shifting jurisdiction over them from nation to region. In place of the current centralized management, he offers a regional approach that takes into account natural topographical and ecological features, and brings together local residents with a vested interest in ensuring the sustainability of their communities. In effect, Kemmis carries to their logical conclusion the recommendations about how the West should be governed made by John Wesley Powell more than a century ago. Throughout, Kemmis argues that the West no longer needs to be protected against itself by a paternalistic system and makes a compelling case that the time has come for the region to claim sovereignty over its own landscape. This Sovereign Land provides a provocative opening to a much-needed discussion about how democracy and ecological sustainability can go hand in hand, and will be essential reading for anyone interested in the West and western issues, as well as for all those concerned with place-based conservation, public lands management, bioregionalism, or related topics.

American Capitalism

Author : Sven Beckert,Christine Desan
Publisher : Columbia University Press
Page : 473 pages
File Size : 54,6 Mb
Release : 2018-02-06
Category : Business & Economics
ISBN : 9780231546065

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American Capitalism by Sven Beckert,Christine Desan Pdf

The United States has long epitomized capitalism. From its enterprising shopkeepers, wildcat banks, violent slave plantations, huge industrial working class, and raucous commodities trade to its world-spanning multinationals, its massive factories, and the centripetal power of New York in the world of finance, America has come to symbolize capitalism for two centuries and more. But an understanding of the history of American capitalism is as elusive as it is urgent. What does it mean to make capitalism a subject of historical inquiry? What is its potential across multiple disciplines, alongside different methodologies, and in a range of geographic and chronological settings? And how does a focus on capitalism change our understanding of American history? American Capitalism presents a sampling of cutting-edge research from prominent scholars. These broad-minded and rigorous essays venture new angles on finance, debt, and credit; women’s rights; slavery and political economy; the racialization of capitalism; labor beyond industrial wage workers; and the production of knowledge, including the idea of the economy, among other topics. Together, the essays suggest emerging themes in the field: a fascination with capitalism as it is made by political authority, how it is claimed and contested by participants, how it spreads across the globe, and how it can be reconceptualized without being universalized. A major statement for a wide-open field, this book demonstrates the breadth and scope of the work that the history of capitalism can provoke.

The Future of China's Bond Market

Author : Mr. Alfred Schipke,Mr. Markus Rodlauer,Ms. Longmei Zhang
Publisher : International Monetary Fund
Page : 52 pages
File Size : 50,9 Mb
Release : 2019-03-13
Category : Business & Economics
ISBN : 9781513582788

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The Future of China's Bond Market by Mr. Alfred Schipke,Mr. Markus Rodlauer,Ms. Longmei Zhang Pdf

China’s bond market is destined to play an increasingly important role, both at home and abroad. And the inclusion of the country’s bonds in global indexes will be a milestone for its financial market integration, bringing big opportunities as well as challenges for policymakers and investors alike. This calls for a good understanding of China’s bond market structure, its unique characteristics, and areas where reforms are needed. This volume comprehensively analyzes the different segments of China’s bond market, from sovereign, policy bank, and credit bonds, to the rapidly growing local government bond market. It also covers bond futures, green bonds, and asset-backed securities, as well as China’s offshore market, which has played a major role in onshore market development.

Tracking Global Demand for Emerging Market Sovereign Debt

Author : Mr. Serkan Arslanalp,Mr. Takahiro Tsuda
Publisher : International Monetary Fund
Page : 51 pages
File Size : 51,6 Mb
Release : 2014-03-05
Category : Business & Economics
ISBN : 9781484327098

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Tracking Global Demand for Emerging Market Sovereign Debt by Mr. Serkan Arslanalp,Mr. Takahiro Tsuda Pdf

This paper proposes an approach to track US$1 trillion of emerging market government debt held by foreign investors in local and hard currency, based on a similar approach that was used for advanced economies (Arslanalp and Tsuda, 2012). The estimates are constructed on a quarterly basis from 2004 to mid-2013 and are available along with the paper in an online dataset. We estimate that about half a trillion dollars of foreign flows went into emerging market government debt during 2010–12, mostly coming from foreign asset managers. Foreign central bank holdings have risen as well, but remain concentrated in a few countries: Brazil, China, Indonesia, Poland, Malaysia, Mexico, and South Africa. We also find that foreign investor flows to emerging markets were less differentiated during 2010–12 against the background of near-zero interest rates in advanced economies. The paper extends some of the indicators proposed in our earlier paper to show how the investor base data can be used to assess countries’ sensitivity to external funding shocks and to track foreign investors’ exposures to different markets within a global benchmark portfolio.