The point of departure for this book is the fundamental assertion that managers of international enterprises must cope not only with the hazards that jeopardize the success of ordinary domestic transactions but also with additional perils that are uniquely international. Two of the most important of these are the risk of a breakdown in the rules and practices that govern international trade and investment flows, and country risk - the risk that a sovereign power will interfere with the repatriation of profits, interest payments, principal repayments, or the control of foreign assets. The...
The point of departure for this book is the fundamental assertion that managers of international enterprises must cope not only with the hazards that ...
In recent years, the major industrialized nations have developed cooperative procedures for supervising banks, harmonized their standards for bank capital requirements, and initiated cooperative understanding about securities market supervision. This book assesses what further coordination and harmonization in financial regulation will be required in an era of increased globalization. A volume of Brookings' Integrating National Economies Series
In recent years, the major industrialized nations have developed cooperative procedures for supervising banks, harmonized their standards for bank cap...
There is little dispute that the mortgage meltdown of 2007, created by irresponsible lending and lax oversight, helped lead to the global financial crisis. Why were these securities backed by subprime debt so desirable to so many seemingly sophisticated investors? The answer lies in distorted incentives, opaque securitization structures and a willingness to believe that house prices would continue to rise indefinitely and the hope for super-normal returns. In "Prudent Lending Restored" experts from the United States, Europe, and Japan draw a timeline of key events along the road to our...
There is little dispute that the mortgage meltdown of 2007, created by irresponsible lending and lax oversight, helped lead to the global financial...
As the global economy continues to weather the effects of the recession brought on by the financial crisis of 2007-08, perhaps no sector has been more affected and more under pressure to change than the industry that was the focus of that crisis: financial services. But as policymakers, financial experts, lobbyists, and others seek to rebuild this industry, certain questions loom large. For example, should the pay of financial institution executives be regulated to control risk taking? That possibility certainly has been raised in official circles, with spirited reactions from all corners....
As the global economy continues to weather the effects of the recession brought on by the financial crisis of 2007-08, perhaps no sector has been m...
While the immediate dangers from the recent financial crisis have abated--much of the financial system has returned to profitability and the economy is growing, albeit slowly--the damage to the economy will linger for years. Among the many impacts is the problem that may be most acute in the United States: how state and local governments and private companies will honor their obligations under defined benefit (DB) pension plans. Institutional investors also confront new difficulties in the low-interest-rate environment that has prevailed since the onset of the crisis. East Asian economies,...
While the immediate dangers from the recent financial crisis have abated--much of the financial system has returned to profitability and the econom...
It has been four years since the financial crisis of 2008, and the global financial system still is experiencing malaise caused by high rates of unemployment; a lingering, unresolved supply of foreclosed properties; the deepening European debt crisis; and fear of a recurrence of the bank turmoil that brought about the Great Recession. All of these factors have led to stagnant economic growth worldwide.
In Rocky Times, editors Yasuyuki Fuchita, Richard J. Herring, and Robert E. Litan bring together experts from academia and the banking sector to analyze the difficult issues...
It has been four years since the financial crisis of 2008, and the global financial system still is experiencing malaise caused by high rates of un...
Martin Neil Baily Yasuyuki Fuchita Richard J. Herring
The financial crisis of 2007-08 and the Great Recession caused more widespread economic trauma than any event since the Great Depression. With a slow and uneven recovery, encouraging stability and growth is critical.
Financial Restructuring to Sustain Recovery maintains that while each part of the financial services industry can play a useful role in revving up the U.S. economic engine to full capacity, the necessary reforms are sometimes subtle and often difficult to implement. Editors Martin Neil Baily, Richard Herring, and Yuta Seki and their coauthors break recovery down...
The financial crisis of 2007-08 and the Great Recession caused more widespread economic trauma than any event since the Great Depression. With a sl...
