State And Financial Systems In Europe And The Usa

Author : Jaime Reis
Publisher : Routledge
Page : 266 pages
File Size : 40,5 Mb
Release : 2016-04-01
Category : History
ISBN : 9781317050520

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State and Financial Systems in Europe and the USA by Jaime Reis Pdf

During the twentieth century the financial sector became possibly the most regulated area of the economy in many advanced and developing countries. The interwar years represented the defining moment for the escalation of governments' intervention, turning the State into the core of financial systems in its capacity of regulator, supervisor or owner. The essays in this collection shed light on different aspects of the experience of financial regulation, ownership and deregulation in Europe and the USA from a secular historical perspective. The volume's chapters explore how the political economy of finance changed in the nineteenth and twentieth centuries and how such changes were related to shifting attitudes towards globalization. They also investigate how regulation responded to governance problems of financial intermediaries and markets, and how different legal frameworks and institutional architectures influenced such response. The collection engages with a set of issues as diverse as they are interrelated across countries and over time: the regulatory attitude of British authorities toward the banking system and the stock exchange market in the nineteenth and twentieth centuries; the comparative evolution of bankruptcy laws and procedures; the link between state, regulation and governance in the evolution of the US and French financial systems; the emergence of banking regulation and supervision by central banks; the regulation and supervision of international financial markets since the 1950s; and the connection between deregulation and banking crises at the end of the past century. Taken as a whole, the chapters offer an intriguing insight into the differing ways western countries approached and responded to the challenges of the international financial system, and the legacy of this on the modern world. In so doing the volume holds up to historical scrutiny the debate as to whether overt state regulation of financial markets always has a negative affect on economic growth, or whether it can be an essential tool for developing nations in their efforts to expand their economies.

Author : Stefano Battilossi,Jaime Reis
Publisher : Unknown
Page : 240 pages
File Size : 41,8 Mb
Release : 2010
Category : Electronic
ISBN : OCLC:671808584

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State and Financial Systems in Europe and the Usa by Stefano Battilossi,Jaime Reis Pdf

Author : Board of Governors of the Federal Reserve System
Publisher : Unknown
Page : 0 pages
File Size : 52,5 Mb
Release : 2002
Category : Banks and Banking
ISBN : 0894991965

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The Federal Reserve System Purposes and Functions by Board of Governors of the Federal Reserve System Pdf

Provides an in-depth overview of the Federal Reserve System, including information about monetary policy and the economy, the Federal Reserve in the international sphere, supervision and regulation, consumer and community affairs and services offered by Reserve Banks. Contains several appendixes, including a brief explanation of Federal Reserve regulations, a glossary of terms, and a list of additional publications.

Author : Richard Sylla,Richard Tilly,Gabriel Tortella Casares
Publisher : Cambridge University Press
Page : 318 pages
File Size : 42,9 Mb
Release : 1999-03-04
Category : Business & Economics
ISBN : 0521591236

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The State, the Financial System and Economic Modernization by Richard Sylla,Richard Tilly,Gabriel Tortella Casares Pdf

Through an examination of a wide variety of financial systems in Europe, and North and South America over approximately 150 years of change, this book demonstrates the key role that finance has played in economic change, and in the development of diverse financial systems. Insights into the primacy of the state's role in the financial development of the pre-industrial era have not been carried over into the historiography of the industrial era itself, so the discoveries detailed in this book have never been brought together in a systematic manner. This book therefore aims to demonstrate through comparative historical analysis, the richness of the history of modern financial systems, and to restore the state to its primary role in the shaping of those systems. This book makes an interesting contribution to financial historiography, thus will be of interest to economists and financial, economic and world historians.

Author : Beate Reszat
Publisher : John Wiley & Sons
Page : 262 pages
File Size : 46,9 Mb
Release : 2005-06-24
Category : Business & Economics
ISBN : 9780470870570

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European Financial Systems in the Global Economy by Beate Reszat Pdf

European Financial Systems in the Global Economy provides an overview of sources of finance, types of financial intermediation and financial systems in Europe and their relative importance in the world economy. It describes market mechanisms and prices and gives a broad introduction to the relevant regional financial and monetary issues (including those countries that will join the EU in the future) and makes an ideal primer for those new to the world of finance.

Author : Vitor Gaspar,Philipp Hartmann,Olaf Sleijpen
Publisher : Unknown
Page : 334 pages
File Size : 54,5 Mb
Release : 2003-01-01
Category : Banks and banking
ISBN : 9291813486

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The Transformation of the European Financial System by Vitor Gaspar,Philipp Hartmann,Olaf Sleijpen Pdf

Author : Asl? Demirgüç-Kunt,Ross Levine
Publisher : World Bank Publications
Page : 73 pages
File Size : 43,8 Mb
Release : 1999
Category : Bancos
ISBN : 8210379456XXX

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Bank-based and Market-based Financial Systems by Asl? Demirgüç-Kunt,Ross Levine Pdf

Author : George Soros
Publisher : PublicAffairs
Page : 208 pages
File Size : 54,5 Mb
Release : 2012-01-24
Category : Business & Economics
ISBN : 9781610391535

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Financial Turmoil in Europe and the United States by George Soros Pdf

The dire economic situation we find ourselves in is not a result of economic forces alone, but of the policies pursued, and not pursued, by world leaders. In this collection of his recent writings on the global financial situation, George Soros presents his views and analysis of key economic policy choices leading up to, during, and following the financial crisis of 2008-2009. Soros explores domestic and international policy choices like how to manage the (then) potential implosion of Fannie Mae & Freddie Mac, deploying measures to stem global contagion from the sub-prime crisis, alternative options on bailing out lesser developed countries and why this was vital, the structural problems of European economic management, and more. Financial Turmoil in Europe and the United States elegantly distills the choices at hand, and takes the reader on a journey of real time economic policy work and experimentation.

Author : Gerard Caprio,Jonathan L. Fiechter,Robert E. Litan,Michael Pomerleano
Publisher : Rowman & Littlefield
Page : 396 pages
File Size : 40,8 Mb
Release : 2010-12-01
Category : Business & Economics
ISBN : 9780815717065

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The Future of State-Owned Financial Institutions by Gerard Caprio,Jonathan L. Fiechter,Robert E. Litan,Michael Pomerleano Pdf

Research suggests that if the majority of a country's financial institutions are owned by the state, that country will experience slower financial development, less efficient financial systems, less private sector credit, and slower GDP growth. Yet more than 40 percent of the world's population live in countries in which public sector institutions dominate the banking system. In The Role of State-Owned Financial Institutions: Policy and Practice noted experts discuss the challenges presented by state-owned financial institutions and offer cross-disciplinary solutions for policymakers and banking regulators. The issues include: methods for effectively managing, reforming, and privatizing state-owned banks; the fiscal costs and contingent liabilities of state-owned banks; macroeconomic implications and the impact of state-owned banking on access to credit in an economy; guidance for effective supervision of state-owned banks; managerial perspectives on improving products, human resources, and risk; management case studies of different methods of privatization, such as initial public offerings, employee stock ownership plans, and strategic investors Contributors include David Binns (Beyster Institute), Robert Cull (World Bank), Ron Gilbert (ESOP Services), James A. Hanson (World Bank), Richard Hemming (International Monetary Fund), Fred Huibers (ING Research), Arminio Fraga (formerly Central Bank of Brazil), Nicholas Lardy (Institute for International Economics), David Marston (International Monetary Fund), Moody's Global Investor Service, Herman Mulder (ABN-Amro), William Nichol (Deutsche Bank AG), Urjit Patel (Infrastructure Development Finance Company, India), and P. S. Srinivas (World Bank).

Author : Robert E. Litan,Paul R. Masson,Michael Pomerleano
Publisher : Rowman & Littlefield
Page : 452 pages
File Size : 52,9 Mb
Release : 2004-05-13
Category : Social Science
ISBN : 081579813X

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Open Doors by Robert E. Litan,Paul R. Masson,Michael Pomerleano Pdf

The extensive reforms and liberalization of financial services in emerging markets worldwide call for cutting-edge strategies to capture the benefits of new investment opportunities. In Open Doors, a volume of papers from the third annual Financial Markets and Development conference, multidisciplinary financial sector experts analyze current economic and political trends and prescribe practical advice to the financial development community. The book addresses the key issues of concern regarding the emerging markets, including the trends, motivations, and scope of FDI in finance; policy options that will best capture the opportunities of foreign entry; and the role of foreign institutions in e-finance innovation. The authors focus on specific topics such as foreign participation in emerging market banking systems and securities industries, WTO policies and enforcement, the role of foreign banks, liberalization of insurance markets, the need for capital markets, and the policy, regulatory, and legal issues associated with e-finance. For policymakers and financial practitioners affected by the WTO's Financial Services Agreement, this timely book should be of particular interest. Contributors include Donald Mathieson (International Money Fund), Pierre Sauvé (Trade Directorate, OECD), George J. Vojta (formerly with Bankers Trust and Citibank), Harold D. Skipper (J. Mack Robinson College of Business, Georgia State University), Benn Steil (Council on Foreign Relations), Morris Goldstein and Edward M. Graham (Institute for International Economics), Nicolas Lardy (Brookings Institution), Phillip Turner (Bank of International Settlements), and Robert Ledig (Fried, Frank, Shriver & Jacobson).

Author : Dimitri Vittas
Publisher : Unknown
Page : 128 pages
File Size : 46,7 Mb
Release : 1999
Category : Electronic
ISBN : OCLC:913715603

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Thrift Deposit Institutions in Europe and the United States by Dimitri Vittas Pdf

November 1995 The history of development of U.S. and European thrift deposit institutions (banking for the poor) yields lessons for today's developing countries. The financial systems in most developing countries today have many features in common with the financial systems of the developing countries of the eighteenth and nineteenth centuries. Whether they had unlimited liability (as in Scotland in the eighteenth century), or limited liability and special charters, commercial banks dominated European and U.S. financial systems. Moreover, they were typically established by wealthy people and oriented toward businesses and other wealthy people -- they effectively represented banking for the rich by the rich. Insurance companies were underdeveloped and pension and mutual funds did not yet exist. As a result, middle- and low-income people had limited access to formal financial services and relied on informal arrangements for borrowing. Meanwhile, financial savings were unproductively hoarded under the mattress. In developing countries today this gap in the provision of financial services can be explained by the low level and unequal distribution of income and wealth, high information and transaction costs, and weak enforcement mechanisms. In Europe and the United States, over time, different types of institutions -- including savings banks, credit cooperatives, building societies, and credit unions -- emerged to fill this market gap. Many developing countries have created institutions that specialize in lending to the poor, but more must be done to help these institutions reach the poor in rural areas and assist small farmers, artisans, and traders. An integrated program to build solid institutions requires five elements for success: * Strong leadership. (Support should be given to groups, such as the Church or local officials, likely to attract people with integrity, high ideals, and commitment to the institution's success.) * A three-tier structure. * Strong emphasis on education and the dissemination of information about the workings and benefits of the institution. (Culture can be an obstacle to a thrift institution's success, as the Irish experience shows.) * An official policy that encourages self-help and avoids total reliance on external funding. External support could be made dependent on local resource mobilization and a record of monitoring and repayment. * Most important, the encouragement of active peer monitoring and the enforcement of contractual obligations. The principle of unlimited liability may not be viable in most developing countries, but government could support only regional units and local institutions that have a good record of loan repayment. This paper -- a joint product of the Finance and Private Sector Development Division, Policy Research Department, and Financial Sector Development Department -- was presented at a Bank seminar, Financial History: Lessons of the Past for Reformers of the Present, and is a chapter in a forthcoming volume, Reforming Finance: Some Lessons from History, edited by Gerard Caprio, Jr. and Dimitri Vittas.

Author : Dimitri Vittas
Publisher : World Bank Publications
Page : 64 pages
File Size : 41,8 Mb
Release : 1995
Category : Thrift institutions
ISBN : 8210379456XXX

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Thrift Deposit Institutions in Europe and the United States by Dimitri Vittas Pdf

Author : Franklin Allen,Douglas Gale
Publisher : MIT Press
Page : 524 pages
File Size : 48,9 Mb
Release : 2000
Category : Business & Economics
ISBN : 0262011778

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Comparing Financial Systems by Franklin Allen,Douglas Gale Pdf

Why do different countries have such different financial systems? Is one system better than the other? This text argues that the view that market-based systems are best is simplistic, and suggests that a more nuanced approach is necessary.

Author : Peter Bernholz,Roland Vaubel
Publisher : Springer
Page : 366 pages
File Size : 43,5 Mb
Release : 2014-06-26
Category : Business & Economics
ISBN : 9783319061092

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Explaining Monetary and Financial Innovation by Peter Bernholz,Roland Vaubel Pdf

This book discusses theories of monetary and financial innovation and applies them to key monetary and financial innovations in history – starting with the use of silver bars in Mesopotamia and ending with the emergence of the Eurodollar market in London. The key monetary innovations are coinage (Asia minor, China, India), the payment of interest on loans, the bill of exchange and deposit banking (Venice, Antwerp, Amsterdam, London). The main financial innovation is the emergence of bond markets (also starting in Venice). Episodes of innovation are contrasted with relatively stagnant environments (the Persian Empire, the Roman Empire, the Spanish Empire). The comparisons suggest that small, open and competing jurisdictions have been more innovative than large empires – as has been suggested by David Hume in 1742.

Author : Leonardo Martinez-Diaz,Jesse M. Keenan
Publisher : U.S. Commodity Futures Trading Commission
Page : 196 pages
File Size : 47,7 Mb
Release : 2020-09-09
Category : Science
ISBN : 9780578748412

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Managing Climate Risk in the U.S. Financial System by Leonardo Martinez-Diaz,Jesse M. Keenan Pdf

This publication serves as a roadmap for exploring and managing climate risk in the U.S. financial system. It is the first major climate publication by a U.S. financial regulator. The central message is that U.S. financial regulators must recognize that climate change poses serious emerging risks to the U.S. financial system, and they should move urgently and decisively to measure, understand, and address these risks. Achieving this goal calls for strengthening regulators’ capabilities, expertise, and data and tools to better monitor, analyze, and quantify climate risks. It calls for working closely with the private sector to ensure that financial institutions and market participants do the same. And it calls for policy and regulatory choices that are flexible, open-ended, and adaptable to new information about climate change and its risks, based on close and iterative dialogue with the private sector. At the same time, the financial community should not simply be reactive—it should provide solutions. Regulators should recognize that the financial system can itself be a catalyst for investments that accelerate economic resilience and the transition to a net-zero emissions economy. Financial innovations, in the form of new financial products, services, and technologies, can help the U.S. economy better manage climate risk and help channel more capital into technologies essential for the transition. https://doi.org/10.5281/zenodo.5247742