Financial Crisis, Contagion, and Containment (eBook)
320 Seiten
Princeton University Press (Verlag)
978-1-4008-6537-6 (ISBN)
DesaiPadma:
Padma Desai is Gladys and Roland Harriman Professor of Comparative Economic Systems and Director of the Center for Transition Economies at Columbia University. She was president of the Association for Comparative Economic Studies in 2001. She is author of The Soviet Economy and Perestroika in Perspective.Padma Desai is Gladys and Roland Harriman Professor of Comparative Economic Systems and Director of the Center for Transition Economies at Columbia University. She was president of the Association for Comparative Economic Studies in 2001. She is author of The Soviet Economy and Perestroika in Perspective.
This book provides a sweeping, up-to-date, and boldly critical account of the financial crises that rocked East Asia and other parts of the world beginning with the collapse of the Thai baht in 1997. Retracing the story of Asia's "e;Crisis Five"e;--Indonesia, Malaysia, South Korea, the Philippines, and Thailand--Padma Desai argues that the region's imprudently fast-paced opening to the free flow of capital was pushed by determined advocates, official and private, in the global economy's U.S.-led developed center. Turmoil ensued in these peripheral economies, the Russian ruble faltered, and Brazil was eventually hit. The inequitable center-periphery relationship also extended to the policy measures that the crisis-swept economies implemented under International Monetary Fund bailouts, which intensified the downturns induced by the panic-driven outflows of short-term capital. Financial Crisis, Contagion, and Containment examines crisis origin and resolution in a comparative perspective by combing empirical evidence from the most robust economies to the least. Why is the U.S. relatively successful at weathering economic ups and downs? Why is Japan stuck in policy paralysis? Why is the European Central Bank unable to achieve both inflation control and stable growth? How can emerging markets avoid turbulence amid free-flowing speculative capital from private lenders of the developed center? Engaging and nontechnical yet deeply insightful, this book appears at a time when the continuing turmoil in Argentina has revived policy debates for avoiding and addressing financial crises in emerging market economies.
Padma Desai is Gladys and Roland Harriman Professor of Comparative Economic Systems and Director of the Center for Transition Economies at Columbia University. She was president of the Association for Comparative Economic Studies in 2001. She is author of The Soviet Economy and Perestroika in Perspective.
Erscheint lt. Verlag | 23.11.2014 |
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Zusatzinfo | 4 tables. 10 line illus. 17 halftones |
Verlagsort | Princeton |
Sprache | englisch |
Themenwelt | Wirtschaft ► Volkswirtschaftslehre ► Finanzwissenschaft |
Wirtschaft ► Volkswirtschaftslehre ► Makroökonomie | |
Wirtschaft ► Volkswirtschaftslehre ► Mikroökonomie | |
Schlagworte | 1997 Asian financial crisis • asset • Austerity • Bailout • balanced budget • balance sheet • Bank • Bankruptcy • Budget • Capital Flight • Capital Market • Capital outflow • Cash • Central Bank • Central Bank of Russia • chaebol • Collateralized Debt Obligation • Commercial Bank • competitiveness • corporate tax • Corruption • Credit (finance) • Creditor • Currency • Currency Board • Currency Crisis • Current Account • debt • Debt Restructuring • Default (finance) • Depreciation • Devaluation • developed country • dividend • Economic Growth • economic problem • Economics • Economist Intelligence Unit • economy • Economy of the United States • Employment • Eurozone • Exchange Rate • Export • External Debt • Finance • Financial Account • Financial Crisis • Financial institution • Financial Services • Financial Times • Foreign Direct Investment • Foreign Exchange Market • foreign exchange reserves • Funding • Global financial system • Government bond • Government budget balance • Government Debt • Gross Domestic Product • hard currency • Hedge Fund • Inflation • Insider • Interest Rate • International Monetary Fund • Investment • Investor • Layoff • Liability (financial accounting) • Liberalization • Macroeconomics • Market Economy • market liquidity • monetary policy • money market • Money Supply • Paul Krugman • Payment • Pension • private sector • Productivity • Quantitative Easing • Real versus nominal value (economics) • Recession • repayment • Restructuring • Revenue • Risk Aversion • ruble • Russian ruble • saving • South Korea • Speculation • Stock Market • Tax • tax revenue • Thailand • Unemployment • World Economy |
ISBN-10 | 1-4008-6537-9 / 1400865379 |
ISBN-13 | 978-1-4008-6537-6 / 9781400865376 |
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