Emerging Market Failure
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Emerging Market Failure
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Author : Eileen M. Scott
language : en
Publisher:
Release Date : 2000
Emerging Market Failure written by Eileen M. Scott and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2000 with Financial crises categories.
This dissertation identifies a case of "emerging market failure," represented by the Mexican financial crisis of 1994/95. The hypothesis is that the financial crisis that occurred during the 1990s in Mexico is linked to the one that took place during the 1980s, and that both financial crises are manifestations of a single phenomenon. The two financial crises are strung together by a thread that involves freely-flowing international capital and an economy that is strongly reliant on the international capital market. This study finds that the principal explanation for both crises is located in the interaction of the following: the fundamentals of the Mexican economy that does not generate domestic savings and relies upon the international financial market; a political system that concentrates power at the expense of the democratic political process; and the governmental policies that pursue goals in the short-run at the expense of long-term outcomes
Market Failure Versus Government Failuire
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Author : Vladimír Benáček
language : en
Publisher:
Release Date : 1992
Market Failure Versus Government Failuire written by Vladimír Benáček and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1992 with categories.
Market Failure Versus Government Failure
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Author : Vladimír Benáček
language : en
Publisher:
Release Date : 1992
Market Failure Versus Government Failure written by Vladimír Benáček and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1992 with Czechoslovakia categories.
The Volatility Machine
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Author : Michael Pettis
language : en
Publisher: Oxford University Press, USA
Release Date : 2001
The Volatility Machine written by Michael Pettis and has been published by Oxford University Press, USA this book supported file pdf, txt, epub, kindle and other format this book has been release on 2001 with Capital categories.
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.
Operating In Emerging Markets
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Author : Luciano Ciravegna
language : en
Publisher: FT Press
Release Date : 2013-08-29
Operating In Emerging Markets written by Luciano Ciravegna and has been published by FT Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-08-29 with Business & Economics categories.
Master a complete roadmap for emerging market business success and profitability! Emerging markets are generating unprecedented opportunities, but they are far more complex and risky than they may seem. Profiting in these markets entails retooling business models, products, and strategies to exploit these differences, instead of falling victim to them. Too many American, European and Japanese companies continue to operate with a “developed world” mentality that seeks to merely adapt existing products and strategies, while underestimating the unique challenges of managing a business in radically different contexts. Operating in Emerging Markets draws from real-life examples and today’s most valuable research to offer a step-by-step blueprint for improving profitability in emerging markets. Pioneering researchers Dr. Luciano Ciravegna and Dr. Robert Fitzgerald walk you through understanding the true risks and challenges; identifying and investing the right resources; developing the right strategies, products, and processes; and learning from both the successes and failures that have come before you. An indispensable resource for all decision-makers in companies that are (or plan to) operating in emerging markets; and for all graduate business students who may do so in the future. "Publications devoted to rapidly transforming economies are on the rise, but the contribution is often marginal. This new book, Operating in Emerging Markets , authored by Luciano Ciravegna, Robert Fitzgerald, and Sumit Kundu, is an exception. It provides valuable insights into what makes these economies grow and prosper. Most importantly, it responds to the need for practical approaches to tapping emerging markets. Thus it should assist current and future managers in navigating these high-potential but high-risk countries." --S. Tamer Cavusgil, Callaway Professorial Chair and Executive Director, CIBER, J. Mack Robinson College of Business. Georgia State University
Understanding Emerging Markets
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Author : Peter Enderwick
language : en
Publisher: Routledge
Release Date : 2012-08-21
Understanding Emerging Markets written by Peter Enderwick and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-08-21 with Business & Economics categories.
Emerging markets (Ems) are the focus of increasing interest in the field of international business, as they provide significant challenges and great opportunities. Focusing on the dynamics of emerging markets, this informative book provides an academically rigorous yet business-oriented analysis of the key issues in this area and incorporates chapters on: the nature of emerging markets market development integrating Ems in the global economy implications for business strategy. Providing an in-depth analysis of two of the most important Ems, China and India, this user-friendly text incorporates extensive case studies, boxed summaries, discussion questions and an extensive bibliography.
Global Finance In Emerging Market Economies
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Author : Todd Knoop
language : en
Publisher: Routledge
Release Date : 2013-02-11
Global Finance In Emerging Market Economies written by Todd Knoop and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-02-11 with Business & Economics categories.
Emerging market economies have accounted for three quarters of world economic growth and more than half of world output over the last decade. But the energy and ideas inherent in emerging economies cannot generate growth by themselves without resources to support them — and first among these resources is money which is needed to purchase the capital and knowhow that turn ideas and initiative into income. How do emerging economies rich in resources other than money get money? This question encapsulates what emerging market finance is all about, and why finance is absolutely crucial to economic development. In emerging countries, most of the population does not have access to bank accounts or financial markets to save or borrow. The result is that many firms cannot get access to financial resources to grow, while households cannot borrow and save in ways that could reduce the riskiness and poverty of their lives. Even those that do have access to formal finance find that credit is unreliable and expensive. These financial failures limit growth and also increase the frequency of costly financial crises. These issues, and many more like them, mean that finance in emerging economies is different and often more complex than the view presented in most textbooks, where finance is only considered from the perspective of wealthy, developed economies. This book addresses this failure by focusing on the important characteristics of financial systems in emerging market economies and their differences from those in developed countries. This book surveys both theoretical and empirical research on finance in emerging economies, as well as reviewing numerous case studies. The final chapters describe and compare financial systems within the four different regions that encompass most emerging economies: Sub-Saharan Africa, the Middle East, Asia, and South America.
Neoliberalism Accountability And Reform Failures In Emerging Markets
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Author : Luigi Manzetti
language : en
Publisher: Penn State Press
Release Date : 2010-04-02
Neoliberalism Accountability And Reform Failures In Emerging Markets written by Luigi Manzetti and has been published by Penn State Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-04-02 with Political Science categories.
The agenda of neoliberal market reform known as the Washington Consensus, which was meant to turn around the economies of developing and postcommunist countries and provide the bedrock of economic success on which stable democracies could be built, has largely proved to be a failure, with Russia and many Latin American countries like Argentina left in severe economic crisis by the end of the 1990s. Some proponents of neoliberal reform, such as Anne Krueger, have attributed this failure to the piecemeal and incomplete implementation of reform measures, while others, including Nobel Prize economist and former World Bank vice president Joseph Stiglitz, have pointed to technical flaws in the policies. While both of these assessments focus narrowly on economic factors, Luigi Manzetti highlights the crucial importance of political institutions and processes to a fully adequate explanation. His argument is that the ideology of neoliberal reform, rooted in the theories of Friedrich von Hayek and Milton Friedman, assumed political checks and balances that did not exist in many of these countries undergoing market reform, and that only by taking political accountability as an influential variable in the equation for success can we really understand what happened. Where accountability was weak, patterns of corruption, collusion, and patronage worked to undermine the intended aims of market reform. Manzetti uses both large N statistical analyses and small N case studies (of Argentina, Chile, and Russia) to provide empirical evidence for his argument.
The Impact Of The Great Recession On Emerging Markets
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Author : MissMali Chivakul
language : en
Publisher: International Monetary Fund
Release Date : 2010-10-01
The Impact Of The Great Recession On Emerging Markets written by MissMali Chivakul and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-10-01 with Business & Economics categories.
This paper examines the impact of the recent global crisis on emerging market economies (EMs). Our cross-country analysis shows that the impact of the crisis was more pronounced in those EMs that had initial weaker fundamentals and greater financial and trade linkages. This effect is observed along a number of dimensions, such as growth, stock market performance, sovereign spreads, and credit growth. This paper also shows that during this crisis, pre-crisis reserve holdings helped to mitigate the initial growth collapse. This finding contrasts with other studies that fail to find a significant relationship between reserves and the growth decline. This paper argues that our preferred measure of impact is a more accurate reflection of the true impact of the crisis on EMs.
The Volatility Machine Emerging Economics And The Threat Of Financial Collapse
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Author : Michael Pettis Adjunct Professor Columbia University
language : en
Publisher: Oxford University Press, USA
Release Date : 2001-04-23
The Volatility Machine Emerging Economics And The Threat Of Financial Collapse written by Michael Pettis Adjunct Professor Columbia University and has been published by Oxford University Press, USA this book supported file pdf, txt, epub, kindle and other format this book has been release on 2001-04-23 with Business & Economics categories.
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.