Managing International Financial Instability

National Tamers versus Global Tigers

AvFabrizio Saccomanni

Häftad, Engelska, 2009

730 kr

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Beskrivning

Recurrent instability has characterized the global financial system since the 1980s, eventually leading to the current global financial crisis. This instability and the resultant disruptions - sovereign debt defaults, exchange rate misalignments, financial market illiquidity and asset price bubbles - are linked, in this book, to the shortcomings of the global financial system which tends to generate cycles of boom and bust in credit flows. These cycles are set in motion by the monetary impulses of major industrial countries and are amplified and propagated through the operation of global financial markets. Fabrizio Saccomanni argues that to counter such systemic instability requires that national authorities give adequate weight to financial stability objectives when formulating their monetary and regulatory policies. He maintains that appropriate multilateral strategies to deal with unsustainable trends in credit aggregates and asset prices should be devised in the International Monetary Fund in the context of a strengthened framework to deal with global payments imbalances and exchange rate misalignments.Providing a comprehensive historical and analytical survey of the causes, consequences and possible cures of international financial instability, this book will be of great interest to students and academics of international economics and finance. It will also appeal to financial market participants and analysts, government officials and central bankers as a comprehensive survey of the relevant academic literature and of the state of the policy debate.

Produktinformation

Utgivningsdatum:2009-11-27
Mått:156 x 234 x undefined mm
Format:Häftad
Språk:Engelska
Förlag:Edward Elgar Publishing Ltd
ISBN:9781849800310

Utforska kategorier

Finansiering inom Ekonomi och Ledarskap
Makroekonomi inom Ekonomi och Ledarskap
Internationell ekonomi inom Ekonomi och Ledarskap

Mer om författaren

Fabrizio Saccomanni, Minister of Economy and Finance and EIB Governor for the Italian Republic

Recensioner i media

'This book is a masterpiece. It combines a clear historical analysis of issues and causes of past international instability with a contemporary discussion of how to avoid future occurrences. It is a very informative book that caters to the need of the savvy and the uninformed. It reviews in a rigorous manner the core obstacles to achieving a durable global financial stability. The presentation is clear, simple and well organised. . . Saccomanni demonstrated a great understanding of monetary and financial matters. The book could not have been better timed given the deepening recession caused by the global financial meltdown. I am very delighted to recommend it.'

Innehållsförteckning

Contents: Foreword by Tommaso Padoa-Schioppa Preface Part I: The Tigers, the Tamers, the Circus 1. An Uneasy Relationship 2. Global Financial Players 3. Monetary and Financial Authorities 4. The Global Market for Foreign Exchange Part II: Global Finance between Crisis and Reform 5. The Crises of Global Finance 6. In Search of International Monetary and Financial Stability Part III: Challenging the Tigers 7. A Cage for the Dollar: The Plaza and Louvre Accords (1985–87) 8. The Seven-Year War of the French Franc (1991–98) 9. The Resistible Rise of the Yen (1995) 10. Double Play in Hong Kong (1998) 11. A Safety Net for the Euro (2000) 12. The Great Wall of the Chinese Renminbi (1994–2005) 13. How Did They Do It? Part IV: Epilogue 14. The Golden Mean Bibliography Index

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The International Monetary System

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