The Volatility Machine: Emerging Economies and the Threat of Financial Collapse

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9780195143300: The Volatility Machine: Emerging Economies and the Threat of Financial Collapse

This book presents a radically different argument for what has caused, and likely will continue to cause, the collapse of emerging market economies. Pettis combines the insights of economic history, economic theory, and finance theory into a comprehensive model for understanding sovereign liability management and the causes of financial crises. He examines recent financial crises in emerging market countries along with the history of international lending since the 1820s to argue that the process of international lending is driven primarily by external events and not by local politics and/or economic policies. He draws out the corporate finance implications of this approach to argue that most of the current analyses of the recent financial crises suffered by Latin America, Asia, and Russia have largely missed the point. He then develops a sovereign finance model, analogous to corporate finance, to understand the capital structure needs of emerging market countries. Using this model, he finally puts into perspective the recent crises, a new sovereign liability management theory, the implications of the model for sovereign debt restructurings, and the new financial architecture.

Bridging the gap between finance specialists and traders, on the one hand, and economists and policy-makers on the other, The Volatility Machine is critical reading for anyone interested in where the international economy is going over the next several years.

Le informazioni nella sezione "Riassunto" possono far riferimento a edizioni diverse di questo titolo.

Recensione:

A source of new and enlightening perspectives for a wide range of the subjects of financial analysis and policy making for emerging financial markets. ( The Financial Regulator)

A cogent and compelling essay on the dynamics of emerging market crises ... Pettis's book offers invaluable insights into the dynamics of emerging market crises and provides important lessons for emerging market policy makers, investors, rating agencies, international institutions and anyone interested in emerging market finance. Moreover he has succeeded in delivering a punchy and highly readable volume ( The Business Economist)

The Volatility Machine provides a welcome departure from the sterile academic debate on the subject of financial crisis. Economists may quibble ... but would be wise not to ignore [Pettis's] insights into how they can exacerbate external risks. ( Institutional Investor)

L'autore:

Michael Pettis is a Managing Director at Bear Stearns, a New York investment bank and an adjunct professor at Columbia University where he teaches courses in international finance. He has been involved in emerging markets, both as an investment banker and as a sovereign adviser, since 1987. In addition, he has written extensively on the subject, on specialized financial topics, and on policy.

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1.

Michael Pettis
Editore: Oxford University Press Inc, United States (2001)
ISBN 10: 0195143302 ISBN 13: 9780195143300
Nuovi Rilegato Quantità: 1
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Descrizione libro Oxford University Press Inc, United States, 2001. Hardback. Condizione libro: New. 239 x 163 mm. Language: English . Brand New Book. This book presents a radically different argument for what has caused, and likely will continue to cause, the collapse of emerging market economies. Pettis combines the insights of economic history, economic theory, and finance theory into a comprehensive model for understanding sovereign liability management and the causes of financial crises. He examines recent financial crises in emerging market countries along with the history of international lending since the 1820s to argue that the process of international lending is driven primarily by external events and not by local politics and/or economic policies. He draws out the corporate finance implications of this approach to argue that most of the current analyses of the recent financial crises suffered by Latin America, Asia, and Russia have largely missed the point. He then develops a sovereign finance model, analogous to corporate finance, to understand the capital structure needs of emerging market countries. Using this model, he finally puts into perspective the recent crises, a new sovereign liability management theory, the implications of the model for sovereign debt restructurings, and the new financial architecture. Bridging the gap between finance specialists and traders, on the one hand, and economists and policy-makers on the other, The Volatility Machine is critical reading for anyone interested in where the international economy is going over the next several years. Codice libro della libreria AAZ9780195143300

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Michael Pettis
Editore: Oxford University Press Inc
ISBN 10: 0195143302 ISBN 13: 9780195143300
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Descrizione libro Oxford University Press Inc. Hardback. Condizione libro: new. BRAND NEW, The Volatility Machine: Emerging Economies and the Threat of Financial Collapse, Michael Pettis, This book presents a radically different argument for what has caused, and likely will continue to cause, the collapse of emerging market economies. Pettis combines the insights of economic history, economic theory, and finance theory into a comprehensive model for understanding sovereign liability management and the causes of financial crises. He examines recent financial crises in emerging market countries along with the history of international lending since the 1820s to argue that the process of international lending is driven primarily by external events and not by local politics and/or economic policies. He draws out the corporate finance implications of this approach to argue that most of the current analyses of the recent financial crises suffered by Latin America, Asia, and Russia have largely missed the point. He then develops a sovereign finance model, analogous to corporate finance, to understand the capital structure needs of emerging market countries. Using this model, he finally puts into perspective the recent crises, a new sovereign liability management theory, the implications of the model for sovereign debt restructurings, and the new financial architecture. Bridging the gap between finance specialists and traders, on the one hand, and economists and policy-makers on the other, The Volatility Machine is critical reading for anyone interested in where the international economy is going over the next several years. Codice libro della libreria B9780195143300

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3.

Pettis, Michael
Editore: Oxford University Press Inc (2001)
ISBN 10: 0195143302 ISBN 13: 9780195143300
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Descrizione libro Oxford University Press Inc, 2001. Condizione libro: New. 2001. 1st Edition. Hardcover. This volume presents a radically different argument for what has caused and likely will continue to cause the collapse of emerging market economies. It explains how capital structures in emerging markets can be correlated or inverted. Num Pages: 272 pages, line figures. BIC Classification: 1QFG; KCA; KCS; KFF. Category: (P) Professional & Vocational; (UP) Postgraduate, Research & Scholarly; (UU) Undergraduate. Dimension: 243 x 164 x 22. Weight in Grams: 556. . . . . . . Codice libro della libreria V9780195143300

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4.

Michael Pettis
Editore: Oxford University Press Inc, United States (2001)
ISBN 10: 0195143302 ISBN 13: 9780195143300
Nuovi Rilegato Quantità: 1
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(London, Regno Unito)
Valutazione libreria
[?]

Descrizione libro Oxford University Press Inc, United States, 2001. Hardback. Condizione libro: New. 239 x 163 mm. Language: English . Brand New Book. This book presents a radically different argument for what has caused, and likely will continue to cause, the collapse of emerging market economies. Pettis combines the insights of economic history, economic theory, and finance theory into a comprehensive model for understanding sovereign liability management and the causes of financial crises. He examines recent financial crises in emerging market countries along with the history of international lending since the 1820s to argue that the process of international lending is driven primarily by external events and not by local politics and/or economic policies. He draws out the corporate finance implications of this approach to argue that most of the current analyses of the recent financial crises suffered by Latin America, Asia, and Russia have largely missed the point. He then develops a sovereign finance model, analogous to corporate finance, to understand the capital structure needs of emerging market countries. Using this model, he finally puts into perspective the recent crises, a new sovereign liability management theory, the implications of the model for sovereign debt restructurings, and the new financial architecture.Bridging the gap between finance specialists and traders, on the one hand, and economists and policy-makers on the other, The Volatility Machine is critical reading for anyone interested in where the international economy is going over the next several years. Codice libro della libreria AAZ9780195143300

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Descrizione libro Condizione libro: New. Depending on your location, this item may ship from the US or UK. Codice libro della libreria 97801951433000000000

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Descrizione libro Oxford University Press Inc 2001-06-07, New York, 2001. hardback. Condizione libro: New. Codice libro della libreria 9780195143300

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Descrizione libro Condizione libro: New. This item is Print on Demand - Depending on your location, this item may ship from the US or UK. Codice libro della libreria POD_9780195143300

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Descrizione libro Hardback. Condizione libro: New. Not Signed; This book presents a radically different argument for what has caused, and likely will continue to cause, the collapse of emerging market economies. Pettis combines the insights of economic history, economic theory, and finance theory into a comprehensive model for understanding sovereign liability. book. Codice libro della libreria ria9780195143300_rkm

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Descrizione libro Oxford University Press Inc. Condizione libro: New. 2001. 1st Edition. Hardcover. This volume presents a radically different argument for what has caused and likely will continue to cause the collapse of emerging market economies. It explains how capital structures in emerging markets can be correlated or inverted. Num Pages: 272 pages, line figures. BIC Classification: 1QFG; KCA; KCS; KFF. Category: (P) Professional & Vocational; (UP) Postgraduate, Research & Scholarly; (UU) Undergraduate. Dimension: 243 x 164 x 22. Weight in Grams: 556. . . . . . Books ship from the US and Ireland. Codice libro della libreria V9780195143300

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Descrizione libro OUP USA, 2001. HRD. Condizione libro: New. New Book. Shipped from UK in 4 to 14 days. Established seller since 2000. Codice libro della libreria GB-9780195143300

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