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Description du livre Etat : New. N° de réf. du vendeur 641036-n
Description du livre PAP. Etat : New. New Book. Shipped from UK. THIS BOOK IS PRINTED ON DEMAND. Established seller since 2000. N° de réf. du vendeur L0-9780199257447
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Description du livre Etat : New. N° de réf. du vendeur 641036-n
Description du livre Paperback. Etat : new. Paperback. In this accessible book, a leading expert provides a critical assessment of the official sector's efforts to more effectively manage financial crises in emerging markets. Professor Eichengreen reviews international initiatives on both the crisis prevention and crisis resolution fronts. While crises will always be with us, he concludes that good progress has been made in limiting their spread and strengthening the international financial system. Ironically, however,official-sector initiatives in this area may in fact have made life more difficult for the poorest countries. Initiatives to limit the incidence of crises and threats to the stability of theinternational financial system should therefore be linked to an increase in development assistance designed to offset the extra burdens on the poorest countries. The other place where official efforts have fallen short is in creating new ways of resolving crises. The author argues that the old way-official sector financing through the International Monetary Fund-is part of the problem, not part of the solution. The Fund's financial operations allow investors to escapewithout significant losses, which in turn encourages them to lend without regard to the risks, weakening market discipline. Moreover, bailouts are inequitable. Because investors are allowed to exit and theIMF ultimately gets paid back, the residents of the crisis country end up footing the bill. This is one reason why IMF programs have come to be regarded with such animus in the developing world.Imagining that the solution is for the official community to simply show the resolve to resist bailouts is too easy. That the International Monetary Fund has repeatedly come under pressure to extend financial assistance reflects more than a lack of political will; it reflects theinadequacy of the alternatives. At the same time, seeking to create radical new alternatives like an international bankruptcy court is too hard. It would do more to increase the efficiency of resourceallocation and the stability of financial markets, the author concludes, to concentrate on more modest changes, namely the introduction of restructuring-friendly provisions into loan agreements, enhancing the capacity of creditors and debtors to resolve debt problems on their own. The global economy has not yet succeeded in immunizing itself against financial crises. Barry Eichengreen explains the patterns behind recent crises, examines the current international financial architecture, and shows how efforts to strengthen the international financial system may have made life more difficult for the poorest countries. This item is printed on demand. Shipping may be from multiple locations in the US or from the UK, depending on stock availability. N° de réf. du vendeur 9780199257447
Description du livre Paperback / softback. Etat : New. This item is printed on demand. New copy - Usually dispatched within 5-9 working days. N° de réf. du vendeur C9780199257447
Description du livre Etat : New. New. In shrink wrap. Looks like an interesting title! 0.62. N° de réf. du vendeur Q-0199257442