![Für diesen Artikel ist leider kein Bild verfügbar.](/img/platzhalter480px.png)
Surviving Large Losses
Financial Crises, the Middle Class, and the Development of Capital Markets
Seiten
2009
The Belknap Press (Verlag)
978-0-674-03636-9 (ISBN)
The Belknap Press (Verlag)
978-0-674-03636-9 (ISBN)
When financial institutions collapse, new ones take their place, shaping markets for generations to come. This book explains why financial crises occur, why their effects last so long, and what political and economic conditions can help countries both rich and poor survive, and even prosper, in the aftermath.
Listen to a short interview with Philip T. HoffmanHost: Chris Gondek | Producer: Heron & Crane
Financial disasters often have long-range institutional consequences. When financial institutions--banks, insurance companies, brokerage firms, stock exchanges--collapse, new ones take their place, and these changes shape markets for decades or even generations. Surviving Large Losses explains why such financial crises occur, why their effects last so long, and what political and economic conditions can help countries both rich and poor survive--and even prosper--in the aftermath.Looking at past and more recent financial disasters through the lens of political economy, the authors identify three factors critical to the development of financial institutions: the level of government debt, the size of the middle class, and the quality of information that is available to participants in financial transactions. They seek to find out when these factors promote financial development and mitigate the effects of financial crises and when they exacerbate them.Although there is no panacea for crises--no one set of institutions that will resolve them--it is possible, the authors argue, to strengthen existing financial institutions, to encourage economic growth, and to limit the harm that future catastrophes can do.
Listen to a short interview with Philip T. HoffmanHost: Chris Gondek | Producer: Heron & Crane
Financial disasters often have long-range institutional consequences. When financial institutions--banks, insurance companies, brokerage firms, stock exchanges--collapse, new ones take their place, and these changes shape markets for decades or even generations. Surviving Large Losses explains why such financial crises occur, why their effects last so long, and what political and economic conditions can help countries both rich and poor survive--and even prosper--in the aftermath.Looking at past and more recent financial disasters through the lens of political economy, the authors identify three factors critical to the development of financial institutions: the level of government debt, the size of the middle class, and the quality of information that is available to participants in financial transactions. They seek to find out when these factors promote financial development and mitigate the effects of financial crises and when they exacerbate them.Although there is no panacea for crises--no one set of institutions that will resolve them--it is possible, the authors argue, to strengthen existing financial institutions, to encourage economic growth, and to limit the harm that future catastrophes can do.
Philip T. Hoffman is Rea A. and Lela G. Axline Professor of Business Economics and Professor of History, California Institute of Technology. Gilles Postel-Vinay is Director of Studies at the École des Hautes Études en Sciences Sociales, Paris. Jean-Laurent Rosenthal is the Rea A. and Lela G. Axline Professor of Business Economics at the California Institute of Technology.
Introduction 1. The Political Economy of Financial Crises 2. Information and Crises 3. Crises and the Middle Class 4. What Happens after Crises 5. Financial Intermediaries and the Demand for Change 6. Governments and the Demand for Reform Conclusion: The Lessons of History Notes References Index
Erscheint lt. Verlag | 14.11.2009 |
---|---|
Zusatzinfo | 2 line illustrations, 1 table |
Verlagsort | Cambridge, Mass. |
Sprache | englisch |
Maße | 129 x 200 mm |
Themenwelt | Geschichte ► Teilgebiete der Geschichte ► Wirtschaftsgeschichte |
Wirtschaft ► Betriebswirtschaft / Management ► Finanzierung | |
Wirtschaft ► Volkswirtschaftslehre ► Finanzwissenschaft | |
Wirtschaft ► Volkswirtschaftslehre ► Mikroökonomie | |
ISBN-10 | 0-674-03636-0 / 0674036360 |
ISBN-13 | 978-0-674-03636-9 / 9780674036369 |
Zustand | Neuware |
Haben Sie eine Frage zum Produkt? |
Mehr entdecken
aus dem Bereich
aus dem Bereich
eine Globalgeschichte des Kapitalismus
Buch | Hardcover (2023)
C.H.Beck (Verlag)
38,00 €
wie die USA und China um die technologische Vorherrschaft auf der …
Buch | Hardcover (2023)
Rowohlt (Verlag)
30,00 €