International economics Books
Cornell University Press States and the Reemergence of Global Finance
Book SynopsisDrawing on extensive historical research, Eric Helleiner provides the first comprehensive political history of the phenomenon, one that details and explains the central role played by states in permitting and encouraging financial globalization.Trade ReviewEric Helleiner offers readers a very useful and readable history of post-war changes in international finance. I would readily assign this book to graduate and advanced under-graduate seminars in international political economy. It covers a lot of territory and does not sacrifice depth for expanse. * International History Review *"This is a fascinating tale of how the international financial system arrived at its present global span. Helleiner argues that the liberalization of financial markets worldwide has been driven largely by government choices, not by technological change or economic pressures. The challenges to states and the reemergence of global finance reveal what an interesting and provocative book it is. This brief outline cannot do justice to its theoretical sophistication and historical depth. Helleiner has made an important contribution in a debate that will undoubtedly continue." —International JournalTable of Contents1. IntroductionPART I: THE RESTRICTIVE BRETTON WOODS FINANCIAL ORDER 2. Bretton Woods and the Endorsement of Capital Controls 3. Continuing Caution: The Slow and Limited Move to ConvertibilityPART II: THE REEMERGENCE OF GLOBAL FINANCE 4. Support for the Euromarket in the 1960s 5. Failed Cooperation in the Early 1970s 6. Four Turning Points in the Late 1970s and Early 1980s 7. The Liberalization Trend in the 1980s 8. Weathering International Financial CrisesPART III: CONCLUSION 9. Explaining Differing State Behavior in Trade and FinanceWorks Cited Index
£20.79
Kubitza, Heinz-Werner, Dr., Tectum Verlag Pillaging the World: The History and Politics of
Book Synopsis
£17.10
The Experiment LLC The Global Economy as You've Never Seen It: 99
Book SynopsisThe economy is a complex, world-spanning, layer-upon-layer-upon-layer behemoth; one could argue that there's almost nothing in our lives that isn't in some way connected to the worlds of business and finance. And yet few of us truly understand it-even the world's foremost economists can't seem to agree on how it runs. The Global Economy as You've Never Seen It shows how the economy works in 99 brilliantly illustrated infographics that everyone can understand. From labour to business to finance to theory, and from the things you buy and the way you buy them to the way everything is made, infographic specialist Jan Schwochow and author Thomas Ramge bring to life every facet of the economic web that makes the world go. With its endlessly varied, information-rich visuals, this book invites us to see the economy differently-and to finally understand how it all fits together.Trade ReviewPRAISE FOR THE GERMAN EDITION "An economic atlas for those who want to explore the complex world of economics and its protagonists."--The Standard "Opulent, fact-rich eye candy."--Management Journal "Vivid."--Schweizer Radio und Fernsehen "A book that shows what business really is: full of colorful life. . . .Some graphics are so successful they ought to be hung in the living room."--Handelsblatt
£24.29
Liberty Fund Inc Essay on the Nature of Trade in General
Book Synopsis
£10.40
Elliott & Thompson Limited The Almighty Dollar: Follow the Incredible
Book SynopsisHave you ever wondered why we can afford to buy far more clothes than our grandparents ever could . . . but may be less likely to own a home in which to keep them all? Why your petrol bill can double in a matter of months, but it never falls as fast?; Behind all of this lies economics.; It's not always easy to grasp the complex forces that are shaping our lives. But by following a dollar on its journey around the globe, we can start to piece it all together.; The dollar is the lifeblood of globalisation. Greenbacks, singles, bucks or dead presidents: call them what you will, they are keeping the global economy going. Half of the notes in circulation are actually outside of the USA - and many of the world's dollars are owned by China.; But what is really happening as our cash moves around the world every day, and how does it affect our lives? By following $1 from a shopping trip in suburban Texas, via China's central bank, Nigerian railroads, the oilfields of Iraq and beyond, The Almighty Dollar reveals the economic truths behind what we see on the news every day. Why is China the world's biggest manufacturer - and the USA its biggest customer? Is free trade really a good thing? Why would a nation build a bridge on the other side of the planet?; In this illuminating read, economist Dharshini David lays bare these complex relationships to get to the heart of how our new globalised world works, showing who really holds the power, and what that means for us all.Trade Review"A brilliant book ... everyone should buy it because it's very, very readable" - Iain Dale, LBC; "Original and engaging ... If you've ever wondered what globalisation is and why people get so passionate about it then I can think of no better guide. Economics can be fascinating and accessible. This book is proof" - Joel Hills, Business Editor, ITV News; `Brilliantly revealing' - Ian King, business presenter, Sky News, and Times columnist; `Readable and illuminating' - The BooksellerTable of ContentsContents; Introduction 1; 1 Worshipping at the temple of low prices and endless offers: The USA to China 15; 2 Making - and working - the global red carpet: China 41; 3 Finding love in the Niger Delta: China to Nigeria 65; 4 Spicing up the recipe for success: Nigeria to India 89; 5 The dark price of black gold: India to Iraq 119; 6 Funding the means of destruction: Iraq to Russia 143; 7 The trials of a blended family: Russia to Germany 169; 8 A bad day at work for the Masters of the Universe: Germany to the UK 195; 9 Feeding the addiction: The UK to the USA 221; Further reading 251; Acknowledgements 255; Index 257
£12.74
Princeton University Press Bankers and Bolsheviks
Book SynopsisTrade Review"A fascinating study of an overlooked topic."---Andrew Stuttaford, Wall Street Journal"[Bankers and Bolsheviks] is lucidly written, meticulously researched and painstakingly edited. It meets its stated aim of usefully filling a gap in the historiography of the Russian revolution."---Francis King, European History Quarterly
£31.50
University of Minnesota Press A Monetary and Fiscal History of Latin America,
Book SynopsisA major, new, and comprehensive look at six decades of macroeconomic policies across the region What went wrong with the economic development of Latin America over the past half-century? Along with periods of poor economic performance, the region’s countries have been plagued by a wide variety of economic crises. This major new work brings together dozens of leading economists to explore the economic performance of the ten largest countries in South America and of Mexico. Together they advance the fundamental hypothesis that, despite different manifestations, these crises all have been the result of poorly designed or poorly implemented fiscal and monetary policies. Each country is treated in its own section of the book, with a lead chapter presenting a comprehensive database of the country’s fiscal, monetary, and economic data from 1960 to 2017. The chapters are drawn from one-day academic conferences—hosted in all but one case, in the focus country—with participants including noted economists and former leading policy makers. Cowritten with Nobel Prize winner Thomas J. Sargent, the editors’ introduction provides a conceptual framework for analyzing fiscal and monetary policy in countries around the world, particularly those less developed. A final chapter draws conclusions and suggests directions for further research.A vital resource for advanced undergraduate and graduate students of economics and for economic researchers and policy makers, A Monetary and Fiscal History of Latin America, 1960–2017 goes further than any book in stressing both the singularities and the similarities of the economic histories of Latin America’s largest countries.Contributors: Mark Aguiar, Princeton U; Fernando Alvarez, U of Chicago; Manuel Amador, U of Minnesota; Joao Ayres, Inter-American Development Bank; Saki Bigio, UCLA; Luigi Bocola, Stanford U; Francisco J. Buera, Washington U, St. Louis; Guillermo Calvo, Columbia U; Rodrigo Caputo, U of Santiago; Roberto Chang, Rutgers U; Carlos Javier Charotti, Central Bank of Paraguay; Simón Cueva, TNK Economics; Julián P. Díaz, Loyola U Chicago; Sebastian Edwards, UCLA; Carlos Esquivel, Rutgers U; Eduardo Fernández Arias, Peking U; Carlos Fernández Valdovinos (former Central Bank of Paraguay); Arturo José Galindo, Banco de la República, Colombia; Márcio Garcia, PUC-Rio; Felipe González Soley, U of Southampton; Diogo Guillen, PUC-Rio; Lars Peter Hansen, U of Chicago; Patrick Kehoe, Stanford U; Carlos Gustavo Machicado Salas, Bolivian Catholic U; Joaquín Marandino, U Torcuato Di Tella; Alberto Martin, U Pompeu Fabra; Cesar Martinelli, George Mason U; Felipe Meza, Instituto Tecnológico Autónomo de México; Pablo Andrés Neumeyer, U Torcuato Di Tella; Gabriel Oddone, U de la República; Daniel Osorio, Banco de la República; José Peres Cajías, U of Barcelona; David Perez-Reyna, U de los Andes; Fabrizio Perri, Minneapolis Fed; Andrew Powell, Inter-American Development Bank; Diego Restuccia, U of Toronto; Diego Saravia, U de los Andes; Thomas J. Sargent, New York U; José A. Scheinkman, Columbia U; Teresa Ter-Minassian (formerly IMF); Marco Vega, Pontificia U Católica del Perú; Carlos Végh, Johns Hopkins U; François R. Velde, Chicago Fed; Alejandro Werner, IMF.Trade Review "Vast and informative."—EH.net "This book is a must read for anyone concerned about rising inflation in the world in the post-pandemic period."—Journal of Economic History Table of ContentsContentsForewordFrançois R. VeldeAcknowledgmentsDetecting Fiscal-Monetary Causes of InflationFernando Alvarez, Lars Peter Hansen, and Thomas SargentA Framework for Studying the Monetary and Fiscal History of Latin AmericaTimothy J. Kehoe, Juan Pablo Nicolini, and Thomas SargentThe Case of ArgentinaFrancisco J. Buera and Juan Pablo NicoliniDiscussion of the Case of ArgentinaGuillermo CalvoDiscussion of the Case of ArgentinaAndrew PowellThe Case of BoliviaTimothy J. Kehoe, Carlos Gustavo Machicado Salas, and José Peres CajíasDiscussion of the Case of BoliviaManuel AmadorThe Case of BrazilMárcio Garcia, Joao Ayres, Diogo Guillen, and Patrick KehoeDiscussion of the Case of BrazilJosé A. ScheinkmanDiscussion of the Case of BrazilTeresa Ter-MinassianThe Case of ChileRodrigo Caputo and Diego SaraviaDiscussion of the Case of ChileSebastian EdwardsThe Case of ColombiaDavid Perez-Reyna and Daniel OsorioDiscussion of the Case of ColombiaArturo José GalindoThe Case of EcuadorSimón Cueva and Julián P. DíazDiscussion of the Case of EcuadorAlberto MartinThe Case of MexicoFelipe MezaDiscussion of the Case of MexicoAlejandro WernerThe Case of ParaguayCarlos Javier Charotti, Carlos Fernández Valdovinos, and Felipe González SoleyDiscussion of the Case of Paraguay Roberto ChangDiscussion of the Case of ParaguayPablo Andrés NeumeyerThe Case of PeruCésar Martinelli and Marco VegaDiscussion of the Case of PeruMark AguiarDiscussion of the Case of PeruSaki BigioThe Case of Uruguay Gabriel Oddone and Joaquín MarandinoDiscussion of the Case of UruguayEduardo Fernández AriasDiscussion of the Case of UruguayCarlos VéghThe Case of VenezuelaDiego RestucciaDiscussion of the Case of VenezuelaLuigi BocolaDiscussion of the Case of VenezuelaFabrizio PerriLessons from the Monetary and Fiscal History of Latin AmericaCarlos Esquivel, Timothy J. Kehoe, and Juan Pablo NicoliniContributorsIndex
£16.14
Yale University Press Trading with the Enemy
Book SynopsisA groundbreaking account of British and French efforts to channel their eighteenth-century geopolitical rivalry into peaceful commercial competitionTrade Review“Shovlin challenges the conventional perception of unbridled Franco-British rivalry and aggression in the 18th century by giving greater emphasis to the cumulative process by which diplomats negotiated and merchants lobbied to cut cross-channel tariffs and pursue other means of enabling free trade.”—Christopher Silvester, Financial Times“A highly original account. . . . With skill, Shovlin challenges the conventional understanding of Franco-British rivalry and belligerence in the eighteenth-century in emphasising the process by which diplomats negotiated, and merchants lobbied, to cut tariffs and in turn to facilitate free trade.”—Paul Ridgway, Africa Ports & Ships“Original, thought-provoking, and deeply researched. Shovlin topples textbook oppositions of war and peace, rivalry and collaboration, and protection and free trade.”—Lauren Benton, author of A Search for Sovereignty“Lucid, subtle, and wide-ranging. Trading with the Enemy decisively revises views of eighteenth-century Franco-British relations as a scene of endless war, imperial rivalry, and jealousy of trade. Its recovery of more cooperative and peaceful history provides both lessons for the present and signposts for the future.”—David Armitage, author of Civil Wars: A History in Ideas“A refreshing interpretation. Through his skilful unpacking of the intertwined histories of capitalism and the state, Shovlin shows us once and for all how mythic was the supposed opposition between free trade and protectionism.”—Renaud Morieux, author of The Channel
£26.12
Springer Nature Switzerland AG The Trade and Receivables Finance Companion: A
Book SynopsisThe Trade and Receivables Finance Companion: A Collection of Case Studies and Solutions is based on the author’s personal experience gained through more than 40 years in the field of trade finance. This Companion applies the techniques described in his first volume, Trade and Receivables Finance: A Practical Guide to Risk Evaluation and Structuring to an extensive range of international trade scenarios. Practical solutions are discussed and presented through a specially selected collection of more than 20 case studies. These books provide an unrivalled and highly practical set of manuals for the trade and receivables financier.The reader is taken on a journey from the structuring of trade products including collections, import and export letters of credit, back to back credits, guarantees and standby credits to fully and partially structured financing solutions for the importer, manufacturer, distributor, middle-party and exporter. Each funding technique provides a compelling alternative to an overdraft.The case studies include the risk assessment and financing of open account payables, stock and receivables transactions and the evaluation and use of credit insurance as a supporting tool. The structuring of commodity finance across the trade cycle, to include warehousing, and call-off is also described. Many of the chapters contain a summary ‘keynote’ overview and comprehensive ‘deal sheet’ extracts of the chosen solution detailing facility and operational requirements. Table of Contents1. Conflicting needs: the need for risk mitigation and finance 2. The trade cycle: construction and facility calculation3. Bills of lading: exercising control4. Advance against collections: an alternative to the overdraft5. Letters of credit for import: protecting the applicant 6. Letters of credit for export: protecting the beneficiary7. Letter of credit non-bank issuer: risk appreciation and negotiation8. Standby letters of credit: protecting the applicant and issuing bank9. Advance payment guarantee: Applicant risk mitigation and clause construction10. Back to back guarantees: managing risk11. Pre-export finance: use of documentation to mitigate performance risk12. Pre-shipment finance: funding the manufacturer13. Stock: structuring financing solutions14. Commercial terms: evaluation15. Credit insurance: evaluating cover16. Receivables finance: formulating the facility structure17. Specific insured debt purchase: structuring a solution to meet the client’s needs18. Financing the importer: structuring payables finance19. Supporting the middle-party: minimising risk exposure20. Discount purchase: reducing the facility requirement21. Commodity finance: financing the trade cycle22. Trade & receivables finance: structuring a compelling client focused solution
£40.49
Elliott & Thompson Limited The Almighty Dollar: Follow the Incredible
Book SynopsisHave you ever wondered why we can afford to buy far more clothes than our grandparents ever could . . . but may be less likely to own a home in which to keep them all? Why your petrol bill can double in a matter of months, but it never falls as fast?; Behind all of this lies economics.; It's not always easy to grasp the complex forces that are shaping our lives. But by following a dollar on its journey around the globe, we can start to piece it all together.; The dollar is the lifeblood of globalisation. Greenbacks, singles, bucks or dead presidents: call them what you will, they are keeping the global economy going. Half of the notes in circulation are actually outside of the USA - and many of the world's dollars are owned by China.; But what is really happening as our cash moves around the world every day, and how does it affect our lives? By following $1 from a shopping trip in suburban Texas, via China's central bank, Nigerian railroads, the oilfields of Iraq and beyond, The Almighty Dollar reveals the economic truths behind what we see on the news every day. Why is China the world's biggest manufacturer - and the USA its biggest customer? Is free trade really a good thing? Why would a nation build a bridge on the other side of the planet?; In this illuminating read, economist Dharshini David lays bare these complex relationships to get to the heart of how our new globalised world works, showing who really holds the power, and what that means for us all.Trade Review"A brilliant book ... everyone should buy it because it's very, very readable" - Iain Dale, LBC; "Original and engaging ... If you've ever wondered what globalisation is and why people get so passionate about it then I can think of no better guide. Economics can be fascinating and accessible. This book is proof" - Joel Hills, Business Editor, ITV News; `Brilliantly revealing' - Ian King, business presenter, Sky News, and Times columnist; `Readable and illuminating' - The BooksellerTable of ContentsContents; Introduction 1; 1 Worshipping at the temple of low prices and endless offers: The USA to China 15; 2 Making - and working - the global red carpet: China 41; 3 Finding love in the Niger Delta: China to Nigeria 65; 4 Spicing up the recipe for success: Nigeria to India 89; 5 The dark price of black gold: India to Iraq 119; 6 Funding the means of destruction: Iraq to Russia 143; 7 The trials of a blended family: Russia to Germany 169; 8 A bad day at work for the Masters of the Universe: Germany to the UK 195; 9 Feeding the addiction: The UK to the USA 221; Further reading 251; Acknowledgements 255; Index 257
£14.44
Princeton University Press Meeting Globalizations Challenges
Book SynopsisTrade Review"Catão and Obstfeld's book offers valuable insights into what globalization can and cannot deliver. The rich diversity of perspectives among a distinguished cast of contributors makes these collective readings unique, stimulating, and informative to policymakers, academics, and the general public at large."—Carmen M. Reinhart, coauthor of This Time Is Different: Eight Centuries of Financial Folly"Bringing together leading experts who lay out the key issues we face today, Meeting Globalization's Challenges offers a nuanced, insightful, and balanced exploration that will serve as an invaluable reference."—Pinelopi Goldberg, Chief Economist, World Bank Group, and Elihu Professor of Economics, Yale University"This is an extremely topical book that brings together an impressive group of top economists to discuss pressing issues related to globalization. A superb overview of a controversial subject."—Douglas A. Irwin, author of Clashing over Commerce: A History of US Trade Policy"Economists tend to believe that globalization has been good for humanity. The public often thinks it brings inequality, unemployment, and social instability. This important book explains how to reconcile these different perspectives with fresh thinking about how the benefits of globalization can be preserved while the risks can be better managed."—Minouche Shafik, director of the London School of Economics, former deputy governor of the Bank of England
£28.80
Penguin Putnam Inc The Death of Money: The Coming Collapse of the
Book SynopsisThe next financial collapse will resemble nothing in history. . . . Deciding upon the best course to follow will require comprehending a minefield of risks, while poised at a crossroads, pondering the death of the dollar.The U.S. dollar has been the global reserve currency since the end of World War II. If the dollar fails, the entire international monetary system will fail with it. But optimists have always said, in essence, that confidence in the dollar will never truly be shaken, no matter how high our national debt or how dysfunctional our government.In the last few years, however, the risks have become too big to ignore. While Washington is gridlocked, our biggest rivals—China, Russia, and the oil-producing nations of the Middle East—are doing everything possible to end U.S. monetary hegemony. The potential results: Financial warfare. Deflation. Hyperinflation. Market collapse. Chaos.James Rickards, the acclaimed author of Currency Wars, shows why money itself is now at risk and what we can all do to protect ourselves. He explains the power of converting unreliable investments into real wealth: gold, land, fine art, and other long-term stores of value.
£14.45
LID Publishing Doing Business in India
Book SynopsisIndia is the fastest-growing trillion dollar economy in the world and poised to be the sixth largest economy in the world, overtaking the UK in 2019. As such, more and more businesses world-wide are looking to do business in this market. However, India's unique business environment, culture and traditions make it a challenging market for most foreigners. Doing Business in India is designed to make anyone exploring, starting or already doing business in India better aware of the cultural and business etiquette's necessary to succeed in this market. This concise and attractive book is a one-stop guide that aims to shed light on the intricacies and complexities of doing business in India.
£11.69
Beard Books Exchange Rates and Corporate Performance
£26.25
Columbia University Press Crude Volatility
Book SynopsisCrafting an engrossing journey from the Pennsylvania oil fields of the 1860s to today's Middle East, Crude Volatility shows how past periods of stability and volatility in oil prices help us understand the new boom-bust era. Robert McNally explains how oil became so central to our world and why it is subject to such extreme price fluctuations.Trade ReviewRobert McNally has written an excellent biography of a world-famous character, known for volatility and violent mood swings, sometimes reviled but always a player in the world economy and politics—the oil price. Insightful and timely, Crude Volatility explores the clash over many decades between "boom and bust" prices and the efforts to harness them. In the current market, McNally explains why volatility is likely to win out over stability—highly significant for what will remain the world's most important commodity for many years to come. -- Daniel Yergin, Pulitzer Prize winning author of The Prize and The Quest and Vice Chairman of IHS MarkitPioneer's strong balance sheet and successful hedging program—before and since the latest price bust—depended largely on McNally's sound advice and his outstanding grasp of oil market dynamics and OPEC. This same expertise is on display in his lively book, which will help any reader understand the history of oil markets, and how we got to where we are today. -- Scott Sheffield, CEO, Pioneer Natural ResourcesThis is an important book. Bob McNally is the first to place shale oil in its proper historical context and explain the ramifications. His conclusions have profound implications for policymakers and the market. It would be unwise to venture out into this new and more volatile oil market without using McNally as your guide. -- Paul Horsnell, Global Head of Commodities at Standard CharteredThis completely fresh viewpoint from Robert McNally is a must read for anyone involved in the oil market. The historical perspective provided in Crude Volatility is critical to understanding the future of prices and the impact they will have on the geopolitical order in years to come. Buckle up for a wild ride! -- Paul Tudor Jones, founder of Tudor Investment Corporation and the Robin Hood FoundationSplendid... McNally is both a skillful historian and an astute analyst... for readers who do not have the time to tackle Daniel Yergin's 900-page standard-bearer, The Prize (1990), Crude Volatility is a concise alternative for understanding the grand narrative of oil. -- R. Tyler Priest * Wall Street Journal *[McNally] deftly explains the motivation behind attempts to temper oil market swings. . . . McNally uses history and two new oil data sets - on prices and global spare capacity - to explain that the greater the market imbalance, the wider the potential price swings, which in itself reinforces greater supply fluctuations. -- Anjli Raval * Financial Times *The most comprehensive treatment of concerted attempts to stabilize oil prices...Recommended. * Choice *If you're an investor in the sector, a policy-maker or diplomat, or you just want a heads up about the next threats facing the global economy, read it. * Petroleum Economist *[McNally] paints a compelling picture of the colorful history of the global oil industry . . . of interest and pertinence to nearly every energy economist (and many macroeconomists). . . . Well-researched and documented. * Energy Journal *Table of ContentsPrefaceAcknowledgmentsAuthor's NoteIntroduction: The Texas ParadoxI. The Long Struggle for Stability: 1859–19721. And Then There Was Light: From Chaos to Order in the Kerosene Era (1859–1911)2. No Rockefeller, No Peace: Boom-Bust Returns3. Why Are Oil Prices Prone to Boom-Bust Cycles?4. The Texas Era of Price Stability: U.S. Supply Controls and International Cartelization (1934–1972)II. The OPEC Era: 1973–20085. The Birth of OPEC: 1960–19696. OPEC Takes Control from Texas and the Seven Sisters: 1970–19807. OPEC's Rude Awakening: 1981–19908. OPEC Muddles Through: 1991–20039. Twilight: OPEC's Power to Prevent Price Spikes Ebbs and Vanishes: 2004–200810. Oil's Third Boom-Bust Era: 2009–?EpilogueNotesBibliographyIndex
£19.80
Princeton University Press Outside the Box
Book SynopsisTrade Review"Winner of the Gold Medal in International Business / Globalization, Axiom Business Book Awards""[The] exploration of trade’s future is particularly thought-provoking. . . . One lesson of Mr. Levinson’s absorbing, centuries-long survey is that evolving global systems are always vulnerable to unexpected events."---Matthew Rees, Wall Street Journal"Smart and exceptionally well-timed."---Justin Fox, Bloomberg"Ostensibly a history of international trade through three distinct ‘globalizations,’ Outside the Box is most useful as a chronicle of how the pre-2008 model of complex, globe-spanning, just-in-time manufacturing has been exposed as fragile, inefficient, and opaque."---Mike Jakeman, strategy+business"Outside the Box is an intriguing synergy of social-sciences analysis, a useful aide memoire, a captivating read. Marc Levinson synthesizes well and writes smoothly, with a light touch of irony—very smart non-fiction."---Linda Quest, International Social Science Review"Marc Levinson’s Outside the Box is a timely and fascinating discussion of globalization."---Andreas Grein, Journal of Economic Literature"A valuable and stimulating contribution to the literature which can be profitably (and enjoyably) read by economist and non-economist alike."---Ian Harwood, Society of Professional Economists"Levinson provides a captivating account of globalisation by interlinking historical events that we know a great deal about with more obscure ones. Globalisation is not over – just different. I, for one, am glad it is ongoing as it will allow Levinson to produce a follow-up book."---Alex Gray, Financial World"This book is an interesting addition to the reading list of professionals and policymakers, which will help them think outside the box to integrate globalization and resilience for a sustainable global supply chain that is essential during this uncertain and challenging times. Nevertheless, this book can also serve as an idea-generating platform for academic readers in the field of globalization and international trade."---Satya Sahoo, Journal of Maritime Affairs
£19.80
Columbia University Press Energy and Environment in India
Book SynopsisJohannes Urpelainen provides an expert guide to India’s energy and environmental issues that incorporates both domestic and global perspectives. He details how unequal economic development and rapid population growth have brought the country to its current state.Trade ReviewUrpelainen provides a social and historical context for the development of India’s environment and energy policy since independence. Not many books do this in an approachable manner, and hence Energy and Environment in India is a welcome intervention. The book convincingly makes the case that meeting India’s growing energy needs sustainably is central to maintaining the global carbon budget. -- Kaushik Deb, Columbia UniversityUrpelainen’s analysis addresses two of 21st century India’s most entrenched, interrelated policy and political challenges: expanding energy access while also protecting a fragile environment. The volume, which deftly situates these problems within their complex social, political, and historical settings, will be equally valuable for researchers, students, and policymakers. -- Sunila S. Kale, University of WashingtonThe book convincingly argues that to produce fair, equitable, and sustainable outcomes for almost two billion Indians, the country must strive for a sustainable future through democratic norms. It’s a great reference book to understand India’s domestic issues and its role in the global energy and environment politics. * The Hindu *An excellent model through which we might argue for the utility of history in environment and energy policy. * H-Environment *Table of ContentsIntroduction1. Foundations and History2. Economic Growth and Environmental Degradation3. Governance and Policy4. Flexing Muscle in Global Environmental Politics5. The Future of Energy and Environment in IndiaNotesBibliographyIndex
£21.25
Pearson Education Fundamentals of Multinational Finance Global
Book SynopsisMichael H. Moffett is Continental Grain Professor in Finance at the Thunderbird School of Global Management, where he has been since 1994. He has also held teaching or research appointments at Oregon State University (1985 to 1993), the University of Michigan, Ann Arbor (1991 to 1993), the Brookings Institution, Washington, DC, the University of Hawaii at Manoa, the Aarhus School of Business (Denmark), the Helsinki School of Economics and Business Administration (Finland), the International Centre for Public Enterprises (Yugoslavia), and the University of Colorado, Boulder. Moffett received a BA (Economics) from the University of Texas at Austin (1977), an MS (Resource Economics) from Colorado State University (1979), an MA (Economics) from the University of Colorado, Boulder (1983), and a PhD (Economics) from the University of Colorado, Boulder (1985). He has authored, co-authored, or contributed to a number of books, articles and other publications. He has coauthoTable of ContentsPART 1: GLOBAL FINANCIAL ENVIRONMENT Multinational Fin Mgmt: Challenges & Opportunities The International Monetary System The Balance of Payments Financial Goals and Corporate Governance PART 2: FOREIGN EXCHANGE THEORY & MARKETS The Foreign Exchange Market International Parity Conditions Appendix: An Algebraic Primer to Parity Conditions Foreign Currency Futures & Options Interest Rate Derivatives & Swaps Exchange Rate Determination & Forecasting PART 3: FOREIGN EXCHANGE EXPOSURE Transaction Exposure Translation Exposure Operating Exposure PART 4: FINANCING THE GLOBAL FIRM The Global Cost and Availability of Capital Funding the Multinational Firm Multinational Tax Management International Trade Finance PART 5: FOREIGN INVESTMENTS & OPERATIONS Foreign Direct Investment & Political Risk Multinational Capital Budgeting & Cross-Border Acquisitions Answers to selected end-of-chapter problems
£61.99
Yale University Press The Wall and the Bridge Fear and Opportunity in
Book SynopsisAn informed argument for an economic policy based on bridges of preparation and adaptation rather than walls of protection and exclusionTrade Review“Given the tight global labour market, [Hubbard’s] points on training workers—that corporations benefit in the long term by investing in the development of their workers—are timely. The upshot is that to flourish, we all need to build bridges. Government policy must play a central role, while businesses must invest in its people and communities.”—Financial Times“Those who gain from change need to compensate the losers. But ‘compensation is not a check from a gainer to the loser, but a basic principle that support for preparation (opportunity) and reconnection (social insurance) must accompany market acceptance of change. It preserves both the gains of market capitalism and dynamism, and popular support for those gains.’ Hubbard’s support for such ideas is to me surprising, important and correct.”—Martin Wolf, The Economist, “Best New Books on Economics”“In the tortured partisan debate on economic policy, it is a rare pleasure to find a superb scholar such as Glenn Hubbard framing issues from the center.”—Kenneth Rogoff, Harvard University“Glenn Hubbard’s rare blend of a keen mind, a facile pen, and copious government experience makes him a voice worth listening to. I always do, even when we disagree. The Wall and the Bridge is a great read—packed with good ideas and sprightly writing.”—Alan S. Blinder, Princeton University“When technological change and globalization in recent decades brought frustration over the resulting losses to jobs and communities, there were no guardrails to get these workers back on track. As this compelling book shows, our nation is going to need bridges to help people get through the unavoidable transformations.”—Edmund Phelps, 2006 Nobel Laureate in Economics and author of Mass Flourishing
£16.14
Yale University Press Goodbye Globalization
Book SynopsisA bold new account of the state of globalization today—and what its collapse might mean for the world economyTrade Review“Braw excels herself in this book. Sharply illustrated with real-life examples and vivid character sketches, closely argued and clearly written, she outlines the dangers unthinking globalisation created for our domestic cohesion and national security – and plots a path back from the brink.”—Edward Lucas, author of The New Cold War“Braw writes with long-established research authority and great personal wit, tracing the way so many optimistic expectations have been redefined; events and trends that leave us, indeed, with a new world to fashion as best we can. It’s the story of our era, and Elisabeth Braw tells it beautifully.”—Michael Clarke, author of The Challenge of Defending Britain“Braw has crafted a gem of a book, a trenchant, big-hearted account of the helter skelter history of globalisation, its slippery rise and apparent fall. Who shaped it, how did it lose its steam? GoodbyeGlobalization is peopled with hucksters and schemers but also philanthropists. . . . A fantastically eclectic cast of interview partners give insights into how it all went wrong.”—Roger Boyes, Diplomatic Editor of The Times “Braw has brilliantly explained the challenges we face now and in the coming years. We, the West, must get organized, strengthening our alliances while also strengthening our own national resilience in order to protect what has made us secure and prosperous. Elisabeth has shown us how.”—Lt Gen (ret.) Ben Hodges, former Commander General of United States Army Europe“The idea of mutual dependency between liberal democracies and authoritarian states brought money to some, but war and misery to many. Elisabeth Braw brilliantly analyses the causes behind the current global turmoil. Unfortunately more are set to come due to these misjudgements. Read this book and buckle up.”—Artis Pabriks, former Deputy Prime Minister of Latvia
£30.06
Columbia University Press The Art of Sanctions
Book SynopsisThe Art of Sanctions offers a practical framework for planning and applying sanctions based on two critical factors: pain and resolve. Focusing on lessons learned from sanctions on Iran and Iraq, Richard Nephew provides policymakers with practical guidance on how to measure and respond to pain and resolve to achieve successful sanctions regimes.Trade ReviewAs Richard Nephew points out in this highly readable book, the use of economic sanctions to affect the behavior of others internationally has been around for a long time. Precisely because he has been a practitioner in the application of sanctions, his insights and conclusions are thoughtful and should inform policy makers. Experts as well as the interested public will learn a great deal from this book. -- Dennis Ross, former special assistant to President Obama and Secretary of State Clinton, and counselor, Washington Institute for Near East PolicySanctions have become a hot policy tool and Richard Nephew—a key sanctions policy practitioner during the Obama administration—has written a masterful insider's how-to guide. Those dealing with or worried about North Korea, Russia, or Iran would do well to learn lessons from The Art of Sanctions. -- Daniel Fried, former U.S. State Department coordinator for sanctions policy, and distinguished fellow, Atlantic CouncilDrawing on his firsthand experience as a senior U.S. policymaker and negotiator, Nephew provides an essential user’s guide to the development and implementation of sanctions, an increasingly vital tool of U.S. statecraft. A must-read for officials and outside experts dealing with North Korea, Iran, Russia, and other pressing national security challenges. -- Robert Einhorn, former senior advisor for nonproliferation and arms control at the U.S. State Department and senior fellow at the Brookings InstitutionRichard Nephew's excellent book provides a basic framework for effectively employing sanctions. It makes a very important contribution to our understanding of how to use these tools—particularly from a practitioner's perspective. -- Eric B. Lorber, Financial Integrity NetworkNephew draws on his experiences at the U.S. Department of State as deputy coordinator for sanctions policy to provide anecdotes about the U.S. experience applying sanctions on Iran and Iraq, which help illustrate his framework and make for an entertaining read. * Arms Control Today *
£18.00
Harvard University Press Rival Partners
Book SynopsisWhy has Taiwan spent more than three decades pouring capital and talent into China? Going beyond the received wisdom of the “China miracle” and “Taiwan factor,” Wu Jieh-min’s award-winning Rival Partners shows how Taiwan benefits from partnering with its political archrival and helps to cultivate a global economic superpower.Trade ReviewWu has written a superb book that deserves the attention of historians, sociologists, political scientists, and scholars from other disciplines interested in the nuances and paradoxes of China’s post-Mao opening, its global effects, and cross-strait relations. -- Jason M. Kelly * Journal of Chinese History *Anyone wishing to go beyond simplistic formulae summarizing the narrative of China’s so-called economic miracle will have to read this detailed, nuanced, yet overarching research. -- Françoise Mengin * China Quarterly *Wu Jieh-min opens a new door by studying the experience of Taiwanese businesspeople (‘Taishang’) who played a critical role in the early stages of China’s reforms. -- Franz-Stefan Gady * Survival *Rival Partners is a major contribution to the study of Chinese development and global capitalism. Weaving together rich materials on Taiwanese manufacturers, local Chinese officials, and migrant labor, Wu details how China’s export manufacturing model thrived and unraveled, leading to today’s crisis and transformation. It is a meticulous study of the rent-seeking and developmental dual characters of the Chinese state. -- Ho-fung Hung, author of The China BoomBased on decades of theoretically informed and expertly crafted empirical research, this book is an intellectual feast connecting shop-floor realities and local citizenship regimes to cross-strait relations and global political economy. A rare and singularly insightful Taiwan perspective on China’s rise. -- Ching Kwan Lee, author of The Specter of Global China and Hong Kong: Global China’s Restive FrontierWu has written a magnificent monograph on the collaborative construction of development between two seemingly rivaling actors: Guangdong officials and Taiwanese entrepreneurs. It points to the significance of invisible coalitions in developmental theory. -- Nan Lin, Duke UniversityRival Partners explores export-oriented industrialization in China as a chapter of the post-war capitalist development of Taiwan. With its sharp research question and original argument combined with solid fieldwork, meticulous analysis, and comprehensive theoretical dialogue, Rival Partners is a milestone in our understanding of China as the world factory since the 1980s. -- Gwo-shyong Shieh, Academia Sinica, Taipei, Taiwan
£47.16
Cornerstone Free Lunch Thinking: 8 Economic Myths and Why
Book SynopsisCountries with smaller governments grow faster.Tobacco taxes are the best way to cut smoking. Government regulation discourages entrepreneurship.Award-winning investigative journalist Tom Bergin digs into eight mantras widely accepted by Western governments and, by talking to the people who promote those ideas and the workers, businesspeople and consumers who have felt their impacts, finds they often don't play out as expected. Smart, funny and incisive, Free Lunch Thinking is essential reading for anyone who really wants to know how economies tick - and why they often don't._______________________________________________________________'I couldn't put it down. A thorough and nuanced examination of the evolution of supply side economics . . . I loved it.' Arthur Laffer, creator of the Laffer Curve'An entertaining and thought-provoking exploration of economic theories that have been both widely accepted and largely wrong . . . I devoured it in a couple of sittings.' Reuters Breakingviews'An insightful account of the recent history of economic thought. If you are looking for a book which challenges you without being annoying - make it this one.' Institute of Economics AffairsTrade ReviewAn essential read if you want to know how economics has erred - and how it can do better.—Gabriel Zucman, author of 'The Hidden Wealth of Nations'I couldn't put it down. A thorough and nuanced examination of the evolution of supply side economics and the debates we had around how to put the theory into practice. I loved it.—Arthur Laffer, creator of the Laffer CurveA brilliant tour de force exposing the limitations of economic theories. Bergin punctures many accepted myths and - with care and rigour - demonstrates how much accepted economic orthodoxy is based on ideology and not reality. A very readable and well-researched book that we all should read.—Margaret Hodge, former chair of the UK parliament’s Public Accounts CommitteeAn entertaining and thought-provoking exploration of economic theories that have been both widely accepted and largely wrong . . . I devoured it in a couple of sittings.—Reuters BreakingviewsFantastically provocative book . . . a really great read.—David McWilliams, economist and author
£10.44
University of Toronto Press Paris 1900
Book SynopsisThe novelist Paul Morand described the Exposition of 1900 in Paris: … a new and ephemeral city hidden in the centre of the other, a whole quarter of Paris in fancy dress, a ball, where the buildings were the masqueraders. To our childish eyes it was a marvel, a coloured picture book, a save filled by strangers with treatures. Masked in this swirl of colour and noise was an event for the political, scholarly, literary, and financial elite of all nations, an occasion for demonstrating the many preoccupations of the intellectuals of the age. Like all the World's Fairs of the nineteenth century, this was an opportunity for the awarding of excellence: the awards or lack of them could make or break an artist, craftsman, or inventor who offered his skills for judgment by the international juries; it was the arena where careers were launched or ended, fortunes made or destroyed, reputations of great firms established or ruined. And in one major respect the Paris World's
£21.59
Harvard University Press Blood and Diamonds
Book SynopsisThe history of mass-market diamonds goes back to German imperialism in Southwest Africa. Corporate power and state violence combined in the genocide of the Herero and Nama peoples, whose mineral-rich land supplied budding consumer demand in the United States. Steven Press makes clear that mass luxury has always come at a huge price.Trade Review[A] deeply researched, often horrifying…study of the country’s entanglement in the diamond trade. -- Joshua Hammer * New York Review of Books *An excellent history…Looks at the story through the prism of diamonds…His careful economic history makes clear the importance of diamonds to the survival of the colony and to Germany’s economic reach at the time. -- Nicolas van de Walle * Foreign Affairs *Through the rigor, subtlety, and elegance of his work, Press has produced one of the most thought-provoking recent books in this field. -- Jean-Michel Johnston * H-Diplo *Steven Press has written a disturbing, brilliant book. Courageous and deeply researched, Blood and Diamonds brings out the full measure of transnational intrigue, cutthroat capitalist competition, and sheer callousness at the center of this long-hidden, disheartening human catastrophe. A stunning new history. -- Helmut Walser Smith, author of Germany: A Nation in Its Time: Before, During, and After Nationalism, 1500–2000Empirically rich and elegantly written, Blood and Diamonds will be received as an important landmark in the history of German colonialism and more broadly as an examination of the entanglements between colony and metropole. Press aptly combines meticulous scholarship with remarkable narrative talent. -- Andreas Eckert, Humboldt University, BerlinSteven Press’s history of conflict diamonds from Namibia under German rule shows German colonialism in a new light and in a broader context, extending into the Nazi era and beyond. Diamonds were a colonial fantasy with all-too-real consequences of premature death for African workers and of Germans’ renewed anti-Semitism and willingness for war. Fluently written, provocative, and hugely informative. -- Lora Wildenthal, author of German Women for Empire, 1884–1945Absorbing…Press masterfully interweaves the history of diamonds and empire with international economics and consumption, racism and genocidal violence, and the complexities of metropole-colony relations…An insightful, fascinating, and important book. * Choice *Press shows that the diamond wealth flowing from German Southwest Africa was crucial to both the development of German colonialism in Africa and Germany’s broader global engagement. -- Stephen Morgan * African Studies Review *An engaging examination into an important aspect of German colonialism in the pre-WWI period. -- Brian de Ruiter * International Social Science Review *
£26.31
Penguin Publishing Group House of Huawei
Book Synopsis
£22.26
Columbia University Press A New Foreign Policy Beyond American
Book SynopsisJeffrey D. Sachs presents timely and achievable plans to foster global economic growth and shift from war making to peacemaking. A New Foreign Policy explores both the danger of the “America first” mindset and the concrete steps the United States must take to build a multipolar world that is prosperous, peaceful, fair, and resilient.Trade ReviewForceful and angry, Sachs verges on hyperbole in his indictment of America past and present, but he does highlight the perils of continuing on the same path. * New York Times Book Review *His new book is entitled A New Foreign Policy: Beyond American Exceptionalism, and there is much inside to be celebrated. I never thought I would utter the words “I agree with Jeff Sachs,” let alone put them in print, yet here we are. * American Conservative *Highly recommended. * Choice *A challenging departure from the Beltway assumption that America has acted as a force for good in the world. * Financial Times *Sachs provides a broad alternative vision not only to the Trump administration’s foreign policy, but to past U.S. foreign policy more generally. * LSE Review of Books *A worthwhile read, in which Sachs demonstrates expertise on vastly different policy fields and makes a convincing case that abdicating the toxic intersection of militarism and exceptionalism is key to building a brighter future, both in the U.S. and around the world. * Global Policy *Jeffrey Sachs is one of the few prominent American academics who dares to make the bold case that the US has been on the wrong track for decades. Its non-academic style makes this book accessible to any reader who wants to gain a broad understanding of what is driving American grand strategy * International Spectator *Table of ContentsPrefaceIntroductionPart I: U.S. Exceptionalism in a Changing World 1. From Exceptionalism to Globalism2. Exceptionalism as the Civic Religion3. The Era of Global Convergence4. Eurasia on the Rise, America on the Sidelines5. Russia-U.S. Relations in the Changing World Order Part II: America’s Wars 6. American Imperialism and “Wars of Choice”7. Contradictory Promises and a Century of Conflict in the Middle East8. North Korea and the Doomsday Clock9. Trump's National Security Strategy Part III: U.S. Foreign Economic Statecraft 10. The Economic Balance Sheet on “America First”11. Foreign Policy Populism12. Economic War with China13. Will Trump Hand China the Technological Lead?14. Toward a World Economy of Regions Part IV: Renewing American Diplomacy 15. From Diplomatic Leader to Rogue Nation16. The Ethics and Practicalities of Foreign Aid17. Managing Migration and Immigration18. Achieving Sustainable Development19. A New Foreign Policy for American Security and Well-BeingNotesReferencesIndex
£10.44
Lynne Rienner Publishers Tech Cold War
Book Synopsis
£92.70
Transworld Publishers Ltd Extreme Economies: Survival, Failure, Future –
Book Synopsis*Winner of the Enlightened Economist Prize 2019**Winner of Debut Writer of the Year at the Edward Stanford Travel Writing Awards 2020**Longlisted for the Financial Times & McKinsey Business Book of the Year Award 2019*'Extreme Economies is a revelation - and a must-read.' Andy Haldane, Chief Economist at the Bank of EnglandTo understand how humans react and adapt to economic change we need to study people who live in harsh environments. From death-row prisoners trading in institutions where money is banned to flourishing entrepreneurs in the world's largest refugee camp, from the unrealised potential of cities like Kinshasa to the hyper-modern economy of Estonia, every life in this book has been hit by a seismic shock, violently broken or changed in some way.In his quest for a purer view of how economies succeed and fail, Richard Davies takes the reader off the beaten path to places where part of the economy has been repressed, removed, destroyed or turbocharged. He tells the personal stories of humans living in these extreme situations, and of the financial infrastructure they create. Far from the familiar stock reports, housing crises, or banking scandals of the financial pages, Extreme Economies reveals the importance of human and social capital, and in so doing tells small stories that shed light on today's biggest economic questions.'A highly original approach to understanding what really makes economies tick.' Mervyn King, former Governor of the Bank of EnglandTrade ReviewA highly original approach to understanding what really makes economies tick. Both insightful and accessible to non-economists. * Mervyn King, former Governor of the Bank of England *Davies visits economies pushed to the limit and examines what their response teaches us about resilience in the face of climate change, demographic shifts and state failure. * Financial Times *An exploration of the lessons to be drawn from disaster-stricken economies and imperilled (but innovative) people, which ranges from the jungles of Panama to post-tsunami Indonesia to the prison system of Louisiana and Syrian refugee camps. * The Economist - Books of the Year 2019 *Financial Times Best Books of 2019: Extreme Economies is a reflection on human resilience. The author takes you from a prison to a refugee camp to Kinshasa and Santiago to explain how economies work in extreme circumstances and why markets succeed or fail. Weaving economic theory and individual life stories, this is an important and enjoyable read.We learn most about ourselves at times of extreme stress and challenge. Using nine compelling country case studies, Richard Davies brilliantly demonstrates that the same is true of our economic systems. In its approach and insights, Extreme Economies is a revelation - and a must-read. * Andy Haldane, Chief Economist at the Bank of England *
£11.39
John Wiley & Sons Inc Handbook of Exchange Rates
Book SynopsisThis handbook provides practitioners with a collection of original ideas on foreign exchange rates, and provides the necessary background on relevant concepts, risks, and policies for working in today's international economic climate.Table of ContentsPreface xxiii Contributors xxvii part one Overview 1 Foreign Exchange Market Structure, Players, and Evolution 3 1.1 Introduction, 3 1.2 Geography and Composition of Currency Trading, 4 1.2.1 Which Currencies are Traded? 6 1.2.2 What Instruments are Traded? 9 1.2.3 How is Trading Regulated? 9 1.3 Players and Information in FX Markets, 11 1.3.1 Who Needs Liquidity? 12 1.3.2 Who Provides Liquidity? 15 1.3.3 Asymmetric Information and Exchange Rate Determination, 19 1.4 Electronic Trading Revolution in FX Markets, 21 1.4.1 The Telephone Era, 22 1.4.2 The Rise of the Computer, 22 1.4.3 Recent Developments in Electronic Trading, 30 1.5 Survey of Multibank FX Platforms, 35 1.6 Summary, 38 Glossary, 39 Acknowledgments, 41 References, 42 2 Macro Approaches to Foreign Exchange Determination 45 2.1 Introduction, 45 2.2 Models of the Nominal Exchange Rate, 46 2.2.1 The Monetary Model, 46 2.2.2 Portfolio Balance Models, 49 2.2.3 Empirical Evidence, 51 2.3 Real Models of the Real Exchange Rate, 54 2.3.1 Purchasing Power Parity, 55 2.3.2 Balassa–Samuelson and Productivity-Based Models, 56 2.3.3 Two-Good Models, 59 2.4 New Directions in Exchange-Rate Modeling, 60 2.4.1 Taking Reaction Functions Seriously, 60 2.4.2 The Impact of Financial Globalization, 63 2.4.3 The Risk Premium and Order Flow, 64 2.5 Conclusions, 65 Acknowledgments, 65 References, 66 3 Micro Approaches to Foreign Exchange Determination 73 3.1 Introduction, 73 3.2 Perspectives on Spot-Rate Dynamics, 74 3.2.1 Decomposition of Depreciation Rates, 74 3.2.2 Macro- and Microperspectives, 77 3.3 Currency Trading Models and their Implications, 80 3.3.1 The Portfolio Shifts Model, 81 3.3.2 Empirical Implications, 88 3.4 Exchange Rates, Order Flows, and the Macro Economy, 95 3.4.1 A Micro-Based Macro model, 96 3.4.2 Empirical Implications, 100 3.5 Conclusion, 105 Appendix, 105 3.6 Acknowledgment, 108 References, 108 4 The Exchange Rate in a Behavioral Finance Framework 111 4.1 Introduction, 111 4.1.1 Mainstream Exchange Rate Models, 111 4.1.2 Away from the Mainstream, 113 4.2 Exchange Rate Puzzles, 114 4.2.1 Disconnect Puzzle and Excess Volatility Puzzle, 114 4.2.2 Unit Root Property, 115 4.2.3 Volatility Clustering, 118 4.2.4 Fat-Tailed Distributed Exchange Rate Returns, 119 4.3 A Prototype Behavioral Model of the Foreign Exchange Market, 122 4.4 Conclusion, 127 References, 129 5 The Evolution of Exchange Rate Regimes and Some Future Perspectives 133 5.1 Introduction, 133 5.2 A Brief History of Currency Regimes, 135 5.3 Performance of the Laisser-Faire Exchange Rate System, 1973–2010, 138 5.3.1 Market Discipline, 139 5.3.2 Economic Policy Coordination, 140 5.3.3 Integration of Emerging Market Countries into the Global Economy, 140 5.4 Trends in Currency Use, 141 5.4.1 Global Imbalances and the Financial Crisis of 2007–2009, 143 5.5 Prospects for the Future, 144 5.5.1 The Current System, 144 5.5.2 Toward a more Managed International Monetary System? 146 5.5.3 How and When Will Reform Occur? 150 5.5.4 A Global Nominal Anchor? 151 5.6 Concluding Comments, 153 Appendix A: A Formal Test of Hollowing Out, 154 References, 156 part two Exchange Rate Models and Methods 6 Purchasing Power Parity in Economic History 161 6.1 Introduction, 161 6.2 Categorization of Purchasing-Power-Parity Theories, 162 6.3 Historical Application of PPP: Premodern Periods, 163 6.3.1 Ancient Period, 163 6.3.2 Medieval Period, 164 6.3.3 Sixteenth-Century Spain, 165 6.4 Techniques of Testing PPP Theory in Economic-History Literature, 165 6.4.1 Comparative-Static Computation, 165 6.4.2 Regression Analysis, 165 6.4.3 Testing for Causality, 165 6.4.4 Nonstationarity and Spurious Regression, 166 6.4.5 Testing for Stationarity, 167 6.4.6 Cointegration Analysis, 167 6.5 Price Variable in PPP Computations, 168 6.6 Modern Period: Testing of PPP, 169 6.6.1 Early North America, 169 6.6.2 Bullionist Periods, 170 6.6.3 Floating Rates—Second-Half of Nineteenth Century, 171 6.6.4 Classic Metallic Standards, 172 6.6.5 World War I, 172 6.6.6 Floating Rates—1920s, 173 6.6.7 1930s, 175 6.6.8 Interwar Period, 175 6.6.9 Spain—Long Term, 176 6.6.10 Guatemala—Long Term, 176 6.7 Analysis of U.S. Return to Gold Standard in 1879, 177 6.8 Establishment and Assessment of a Fixed Exchange Rate in Interwar Period, 177 6.8.1 United Kingdom, 177 6.8.2 France, 179 6.9 Conclusions, 180 References, 181 7 Purchasing Power Parity in Tradable Goods 189 7.1 Introduction, 189 7.2 The LOP and Price Indices, 190 7.3 Empirical Evidence on the LOP, 194 7.3.1 Early Tests of the LOP, 194 7.3.2 The Border Effect, 194 7.3.3 Barriers to Arbitrage and Nonlinearities, 195 7.3.4 The Tradable Versus Nontradable Goods Dichotomy, 198 7.3.5 The Aggregation Bias and Micro Price Studies, 199 7.4 Purchasing Power Parity, 200 7.4.1 Transitory and Structural Disparities from Parity, 203 7.5 Aggregating from the LOP to PPP: What Can We Infer? 205 7.5.1 An Eyeball Analysis of PPP, 207 7.6 Conclusion and Implications, 213 Appendix: TAR Modeling, 214 Acknowledgments, 215 References, 215 8 Statistical and Economic Methods for Evaluating Exchange Rate Predictability 221 8.1 Introduction, 221 8.2 Models for Exchange Rate Predictability, 224 8.2.1 A Present Value Model for Exchange Rates, 224 8.2.2 Predictive Regressions, 226 8.3 Statistical Evaluation of Exchange Rate Predictability, 228 8.4 Economic Evaluation of Exchange Rate Predictability, 231 8.4.1 The Dynamic FX Strategy, 231 8.4.2 Mean-Variance Dynamic Asset Allocation, 231 8.4.3 Performance Measures, 232 8.4.4 Transaction Costs, 234 8.5 Combined Forecasts, 235 8.6 Empirical Results, 237 8.6.1 Data on Exchange Rates and Economic Fundamentals, 237 8.6.2 Predictive Regressions, 242 8.6.3 Statistical Evaluation, 244 8.6.4 Economic Evaluation, 249 8.7 Conclusion, 256 Appendix A: The Bootstrap Algorithm, 259 Acknowledgments, 260 References, 260 9 When Are Pooled Panel-Data Regression Forecasts of Exchange Rates More Accurate than the Time-Series Regression Forecasts? 265 9.1 Introduction, 265 9.2 Panel Data Exchange Rate Determination Studies, 267 9.3 Asymptotic Consequences of Pooling, 268 9.3.1 Predictive Regression Estimated on Full Sample, 268 9.3.2 Out-of-Sample Prediction, 271 9.4 Monte Carlo Study, 272 9.5 An Illustration with Data, 275 9.6 Conclusions, 278 References, 279 10 Carry Trades and Risk 283 10.1 Introduction, 283 10.2 The Carry Trade: Basic Facts, 285 10.2.1 What is a Carry Trade? 285 10.2.2 Measuring the Returns to the Carry Trade, 286 10.3 Pricing the Returns to the Carry Trade, 290 10.4 Empirical Findings, 293 10.4.1 Traditional Risk Factors, 293 10.4.2 Factors Derived from Currency Returns, 299 10.5 Time-Varying Risk and Rare Events, 308 10.6 Conclusion, 311 Acknowledgments, 311 References, 311 11 Currency Fair Value Models 313 11.1 Introduction, 313 11.2 Models/Taxonomy, 315 11.2.1 ‘‘Adjusted PPP’’: Harrod-Balassa-Samuelson and Penn Effects, 315 11.2.2 The Behavioral Equilibrium Exchange Rate Family of Models, 316 11.2.3 The Underlying Balance (UB) Approach, 320 11.2.4 External Sustainability (ES) Approach, 324 11.2.5 The Natural Real Exchange Rate (NATREX), 325 11.2.6 The Indirect Fair Value (IFV), 325 11.3 Implementation Choices and Model Characteristics, 328 11.3.1 Horizon/Frequency, 329 11.3.2 Direct Econometric Estimation Versus ‘‘Methods of Calculation’’, 331 11.3.3 Treatment of External Imbalances , 332 11.3.4 Real Versus Nominal Exchange Rates, 333 11.3.5 Bilateral Versus Effective Exchange Rate, 333 11.3.6 Time Series Versus Cross Section or Panel, 336 11.3.7 Model Maintenance, 336 11.4 Conclusion, 337 Acknowledgments, 338 References, 339 12 Technical Analysis in the Foreign Exchange Market 343 12.1 Introduction, 343 12.2 The Practice of Technical Analysis, 345 12.2.1 The Philosophy of Technical Analysis, 345 12.2.2 Types of Technical Analysis, 346 12.3 Studies of Technical Analysis in the Foreign Exchange Market, 350 12.3.1 Why Study Technical Analysis? 350 12.3.2 Survey Evidence on the Practice of Technical Analysis, 350 12.3.3 Computing Signals and Returns, 351 12.3.4 Early Studies: Skepticism before the Tide Turns, 353 12.3.5 Pattern Recognition, Intraday Data, and Other Exchange Rates, 353 12.4 Explaining The Success of Technical Analysis, 355 12.4.1 Data Snooping, Publication Bias, and Data Mining, 355 12.4.2 Temporal Variation in Trading Rule Returns, 357 12.4.3 Do Technical Trading Returns Compensate Investors for Bearing Risk? 359 12.4.4 Does Foreign Exchange Intervention Create Trading Rule Profits? 361 12.4.5 Do Cognitive Biases Create Trading Rule Profits? 363 12.4.6 Do Markets Adapt to Arbitrage Away Trading Rule Profits? 365 12.5 The Future of Research on Technical Analysis, 366 12.6 Conclusion, 367 Acknowledgments, 368 References, 368 13 Modeling Exchange Rates with Incomplete Information 375 13.1 Introduction, 375 13.2 Basic Monetary Model, 376 13.3 Information Heterogeneity, 379 13.4 Model Uncertainty, 381 13.5 Infrequent Decision Making, 385 13.6 Conclusion, 388 Acknowledgments, 388 References, 389 14 Exchange Rates in a Stochastic Discount Factor Framework 391 14.1 Introduction, 391 14.2 Exchange Rates and Stochastic Discount Factors, 392 14.2.1 Stochastic Discount Factors, 392 14.2.2 Real Exchange Rates and Currency Risk Premia, 395 14.3 Empirical Evidence, 398 14.3.1 From UIP Regressions to Currency Portfolios, 398 14.3.2 Annual Currency Excess Returns and Aggregate Risk, 399 14.3.3 Monthly Currency Excess Returns, 403 14.3.4 Implications for Stochastic Discount Factors, 403 14.3.5 Predictability of Currency Excess Returns, 405 14.4 Models, 407 14.4.1 Habits, 407 14.4.2 Long-Run Risk, 411 14.4.3 Disaster Risk, 414 14.5 Conclusion, 417 References, 417 15 Volatility and Correlation Timing in Active Currency Management 421 15.1 Introduction, 421 15.2 Dynamic Models for Volatility and Correlation, 424 15.2.1 The Set of Multivariate Models, 425 15.2.2 The Set of Univariate Models for Volatility Timing, 427 15.2.3 Pairwise Model Comparisons, 427 15.2.4 Estimation and Forecasting, 427 15.3 The Economic Value of Volatility and Correlation Timing, 428 15.3.1 The Dynamic Strategy, 428 15.3.2 Dynamic Asset Allocation with CRRA Utility, 428 15.3.3 Performance Measures, 429 15.3.4 Transaction Costs, 430 15.4 Parameter Uncertainty in Bayesian Asset Allocation, 430 15.5 Model Uncertainty, 431 15.5.1 The BMA Strategy, 432 15.5.2 The BMW Strategy, 432 15.6 Empirical Results, 432 15.6.1 Data and Descriptive Statistics, 432 15.6.2 Bayesian Estimation, 433 15.6.3 Evaluating Volatility and Correlation Timing, 434 15.7 Conclusion, 440 Appendix A: Univariate Models for Volatility Timing, 442 Appendix B: Parameter Uncertainty and the Predictive Density, 443 Acknowledgments, 444 References, 444 part three FX Markets and Products 16 Active Currency Management Part I: Is There a Premium for Currency Investing (Beta) 453 16.1 Introduction, 453 16.2 Beta in the Foreign Exchange Markets, 455 16.2.1 Understanding the FX Carry Trade, 455 16.2.2 FX Carry as a Broader Strategy, 456 16.2.3 FX Trend-Based Strategies, 458 16.2.4 Value-Based Strategies Within FX, 460 16.2.5 USD Directional Trade, 461 16.2.6 Correlation between these FX Strategies and Other Forms of Beta, 462 16.2.7 Weighted Portfolio of FX Strategies, 463 16.3 Multiple Forms of FX Beta, 465 16.4 Carry FX Indices from Banks, 465 16.5 Trend-Following FX Indices from Banks, 467 16.6 Conclusion, 468 References, 469 17 Active Currency Management Part II: Is There Skill or Alpha in Currency Investing? 471 17.1 Introduction, 471 17.2 Alternative Currency Management Mandates, 473 17.2.1 Features of a Currency Mandate, 473 17.2.2 Structural and Operational Choices, 476 17.2.3 The Alpha Continuum and Implications of Active Currency Mandates, 477 17.3 Benchmarks for Currency Fund Management, 477 17.3.1 A Basic Factor Model for Currency Returns, 479 17.4 Empirical Evidence with the Barclay Currency Traders Index and Individual Fund Managers, 481 17.4.1 Empirical Evidence with the Barclay Currency Traders Index, 481 17.4.2 Individual Currency Manager Returns, 485 17.4.3 Alternative Information Ratio, 493 17.5 Empirical Evidence: Fund Managers on the DB FX Select Platform, 496 17.5.1 Grouping Managers into a Fund of Funds, 496 17.6 Conclusions and Investment Implications, 498 References, 499 18 Currency Hedging for International Bond and Equity Investors 503 18.1 Introduction, 503 18.2 Overview of Empirical Hedging Studies, 504 18.3 Return and Volatility Impact of Currency Hedging, 506 18.3.1 Theoretical Background, 506 18.3.2 Methodology, 508 18.3.3 Summary of Findings on the Return and Volatility Impact of Currency Hedging, 525 18.4 Hedge Instruments—Currency Forwards versus Options, 526 18.4.1 Why Do Hedge Cash Flows Matter? 526 18.4.2 Historical Performance of Hedging with Options, 527 18.4.3 Summary of Findings on Hedging with Options Versus Forwards, 532 18.5 Managing Tracking Error in Forward Hedges, 533 18.5.1 How Often to Rebalance? 533 18.5.2 Trigger-Based Versus Regular Rebalancing, 539 18.5.3 Summary of Findings on Hedge Rebalancing, 539 18.6 Conclusions, 541 References, 543 19 FX Reserve Management 545 19.1 FX Reserve Management, 545 19.2 FX Reserve Uses, 545 19.3 FX Reserve Sources, 546 19.4 Objectives of Reserves Management, 547 19.5 Techniques of Reserve Management, 547 19.6 Historical Perspective, 548 19.7 What Assets Do Central Banks Hold? 549 19.8 Constraints, 550 19.9 External Managers, 551 19.10 Costs of Accumulation and Holding of Reserves, 551 19.11 Diversification, 552 19.12 Challenges to Diversification and Size of Reserves, 552 19.13 Changing Role of the Dollar as the International Reserve Currency, 554 19.14 Reserve Management if the Dollar is Replaced as the Reserve Currency, 557 19.15 Conclusion, 559 Acknowledgments, 559 References, 559 20 High Frequency Finance: Using Scaling Laws to Build Trading Models 563 20.1 Introduction, 563 20.2 The Intrinsic Time Framework, 565 20.3 Scaling Laws, 567 20.3.1 The New Scaling Laws, 568 20.3.2 The Coastline, 573 20.4 The Scale of Market Quakes, 574 20.5 Trading Models, 577 20.5.1 Overview, 577 20.5.2 Coastline Trader, 578 20.5.3 Monthly Statistics, 580 20.6 Conclusion, 582 Acknowledgments, 582 References, 582 21 Algorithmic Execution in Foreign Exchange 585 21.1 Introduction, 585 21.1.1 Drawing from the Equity Market, 586 21.1.2 What is Going to Work for Foreign Exchange? 587 21.2 Key Components of an Algorithmic Execution Framework, 589 21.2.1 Smart Order Routing (SOR), 589 21.2.2 Intelligence, 590 21.2.3 Speed, 591 21.3 Types of Algorithms, 592 21.3.1 Time Slicers, 592 21.3.2 Sweeper, 592 21.3.3 Iceberg, 592 21.3.4 Opportunistic, 592 21.3.5 Participators, 594 21.3.6 Internalization Strategies, 594 21.3.7 Dynamic Algorithms, 595 21.4 What Execution Strategies are Most Effective? 595 21.4.1 Measuring Performance, 596 21.5 Looking Forward, 596 Appendix A, 596 References, 597 22 Foreign Exchange Strategy Based Products 599 22.1 Introduction, 599 22.2 Evolution of the Foreign Exchange Market, 600 22.2.1 Disappointing Early Years, 600 22.2.2 Emergence of ‘‘Puzzles’’ in FX, 601 22.2.3 Growth of FX Market Turnover and Currency Managers, 602 22.3 Foreign Exchange Investable Indices and Strategy-Based Products, 606 22.3.1 Why Profit Opportunities Exist? 606 22.3.2 Beta and Alpha in Foreign Exchange, 607 22.3.3 Why is FX Attractive? 613 22.3.4 Why use Strategy-Based FX Products? 619 22.4 Conclusion, 620 References, 620 23 Foreign Exchange Futures, Forwards, and Swaps 623 23.1 Introduction, 623 23.2 Market Basics and Size, 625 23.2.1 FX Outright Forwards and Futures, 625 23.2.2 FX Swaps and Cross-Currency Swaps, 628 23.2.3 Market Size, 635 23.3 Dislocations of the FX and Cross-Currency Swap Markets under Financial Crises, 637 23.3.1 Japan Premium Case in the Late 1990s, 637 23.3.2 The Global Financial Crisis from 2007, 639 23.4 Conclusion, 643 Acknowledgments, 643 References, 643 24 FX Options and Volatility Derivatives: An Overview from the Buy-Side Perspective 647 24.1 Introduction, 647 24.2 Why Would One Bother with an Option? 648 24.2.1 History, 648 24.2.2 FX Options, 649 24.3 Market for FX Options, 655 24.3.1 Overview, 655 24.3.2 Players, 656 24.3.3 Setting the Price, 658 24.4 Volatility, 660 24.4.1 Overview of Models, 660 24.4.2 Some Stylized Facts and Implied Moments, 664 24.4.3 Is Volatility an Asset Class? 666 24.4.4 Anti-Black Swan Strategies, 674 24.4.5 Black Swan Strategies, 676 24.5 FX Options from the Buy-Side Perspective, 683 24.5.1 Strike versus Leverage, 683 24.5.2 Implied Distribution, 685 24.5.3 Long-Dated Options versus Short-Dated Option, 689 24.5.4 Black Swan Fund, 692 24.5.5 Currency Hedging of Illiquid Assets, 693 Acknowledgment, 695 References, 695 part four FX Markets and Policy 25 A Common Framework for Thinking about Currency Crises 699 25.1 Introduction, 699 25.2 The KFG Model, 701 25.3 Extensions, 706 25.3.1 Attack-Conditional Monetary Policy, 706 25.3.2 Devaluation, 707 25.3.3 Sterilization and Interest Rate Defense, 709 25.3.4 Lender of Last Resort and Currency Crises, 711 25.4 Empirical Work, 713 25.5 Conclusion, 714 References, 715 26 Official Intervention in the Foreign Exchange Market 717 26.1 Introduction, 717 26.2 Official FX Interventions and Reserve Accumulation: Stylized Facts, Motives, and Effects, 721 26.3 Empirical Evidence on the Effectiveness of Official FX Interventions, 725 26.3.1 A Simple Conceptual Framework, 726 26.3.2 Time-Series Approach: Evidence on Effectiveness and Channels, 728 26.3.3 Event-Study Approach: Evidence on Longer-Term Effectiveness, 739 26.4 Conclusions, 746 26.5 Acknowledgements, 746 References, 747 27 Exchange Rate Misalignment—The Case of the Chinese Renminbi 751 27.1 Introduction, 751 27.2 Background, 752 27.3 Undervalued or Overvalued, 754 27.3.1 The FEER Misalignment Estimate, 754 27.3.2 The Penn Effect Regression, 757 27.3.3 Data Revision, 759 27.4 Concluding Remarks, 762 Acknowledgments, 763 References, 763 28 Choosing an Exchange Rate Regime 767 28.1 Five Advantages of Fixed Exchange Rates , 768 28.2 Econometric Evidence on the Bilateral Trade Effects of Currency Regimes, 770 28.2.1 Time-Series Dimension, 771 28.2.2 Omitted Variables, 772 28.2.3 Endogeneity of the Currency Decision, 773 28.2.4 Implausible Magnitude of the Estimate, 774 28.2.5 Country Size, 775 28.3 Five Advantages of Floating Exchange Rates, 775 28.4 How to Weigh Up the Advantages of Fixing Versus Floating, 777 28.5 Country Characteristics That Should Help Determine the Choice of Regime, 778 28.6 Alternative Nominal Anchors, 780 References, 781 Index 785
£123.26
Cambridge University Press International Trade
Book Synopsis
£99.00
HarperCollins Publishers Inc Kleptopia
Book Synopsis
£21.74
HarperCollins Publishers Inc Kleptopia
Book SynopsisA Washington Post Notable Book of the Year • An Economist Book of the YearNow With a New Afterword“A must-read for anyone wanting to better understand what has already happened here in America and what lies ahead if Trump is reelected in November…. A magisterial account of the money and violence behind the world’s most powerful dictatorships.” -Washington PostIn this shocking, meticulously reported work of narrative nonfiction, an award-winning investigative journalist exposes “capitalism’s monster”—global kleptocracy—and reveals how it is corrupting the world around us.They are everywhere, the thieves and their people. Masters of secrecy. Until now we have detected their presence only by what they leave behind. A body in a burned-out Audi. Workers riddled with bullets in the Kazakh Desert. A rigged election in Zimbabwe. A British banker silenced and humiliated for trying to expose the truth about the City of London.They have amassed more money than most countries. But what they are really stealing is power.In this real-life thriller packed with jaw-dropping revelations, award-winning investigative journalist Tom Burgis weaves together four stories that reveal a terrifying global web of corruption: the troublemaker from Basingstoke who stumbles on the secrets of a Swiss bank, the ex-Soviet billionaire constructing a private empire, the righteous Canadian lawyer with a mysterious client, and the Brooklyn crook protected by the CIA.Glimpses of this shadowy world have emerged over the years. In Kleptopia, Burgis connects the dots. He follows the dirty money that is flooding the global economy, emboldening dictators, and poisoning democracies. From the Kremlin to Beijing, Harare to Riyadh, Paris to the White House, the trail shows something even more sinister: the thieves are uniting. And the human cost will be great.
£15.19
HarperCollins Publishers Inc Superpower Showdown
Book SynopsisTrade Review"This is essential reading for anyone concerned about America’s economic future." — Publishers Weekly (starred review) "'We hope this book provides the material to understand what happened and why,' the authors conclude. Mission accomplished." — Kirkus Reviews "A must-read for anyone interested in what happened between China and the United States, likely the world’s most important economic relationship." — Forbes If you've ever wished you were a fly on the wall as top leaders in the U.S. and China were considering how to parry their counterparts' most recent moves, here's your big chance. . . . The book starts out with an incredible reveal, at least for those of us who have watched China for years . . . (No spoilers: Go read the book to find out!) — Axios "Superpower Showdown, a gripping and granular account of the past, present and future of the United States-China trade war by two former Beijing correspondents of the Wall Street Journal, could just as well have been titled Marriage Story. . . . There are perhaps no two journalists better placed to tell this tale. . . . The strength of this book lies in the rich perspectives it offers from both Washington and Beijing, presenting a clear insight into the decision-making of both parties." — The Hindu "Davis and Wei provide an essential overview of how the United States and China became so entwined, and the challenges ahead. . . . Superpower Showdown is especially insightful on how the contradictory natures of Trump and Xi have impeded understanding." — Boston Globe "The twists and turns that produced the Trump administration’s China policy fill Superpower Showdown, a lively account by two gifted Wall Street Journal reporters." — Project Syndicate "[A] well-reported and fascinating look into Sino-American economic relations . . . The most compelling parts of the book report on what the negotiators and policymakers on both sides were thinking before striking a deal in January 2020." — American Enterprise Institute “My first advice to the Biden administration on trade and particularly our relationship with China is that they need to get and study copies of Superpower Showdown, a book by Davis and Wei that describes the environment with China—that we are now experiencing an era of confrontation.” — Josh Bolten, President and CEO of Business Roundtable, former White House chief of staff to President George W. Bush
£23.75
Emerald Publishing Limited New Advances in Financial Economics Series in
Book SynopsisDeals with the frontiers in financial theory of economics. This work covers most aspects of finance - domestic corporate and investment issues as well as questions and problems of topical value in international finance. It includes topics such as: initial public offerings, debt restructuring, mergers, dividend policy, stock returns, and more.Table of ContentsPreface. Introduction. Part I. Capital structure and dividend policy in an intertemporal optimization model (D.K. Ghosh). Ex-dividend days and daily stock returns (E.A. Dyl et al.). A quadratic growth approach to the two-stage dividend discount model (J.Y. Uppal, et al.). The nature of the predictability of German stock returns (G.G. Booth et al.). Complex and random appearing stock prices: a chaotic approach (E. Pilarinu, G.C. Philappatos). A strong case for the Arrow-Pratt risk aversion measure (R. Dossani et al.). The role of banks in debt restructuring (K. John, G.K. Vasudevan). Stock prices, merger activity, and the macroeconomy (I. Mathur, V. Subrahmanyam). The impact of the type of offering on the underpricing of IPOs (D. Prasad). Assessment of investment quality of securities: a fuzzy set theory approach (R.S. Koundinya). Equity markets with frictions: an examination (A. Mulugetta, G. Duteil). Using real options analysis in capital budgeting: the opportunity cost of excess capacity (R. McLaughlin, R.A. Taggart). Is the real interest rate stable? (O.D. Gulley). Agency costs and employee stock ownership plans (K.T. Liaw). Part II. Innovations in currency markets: rolling spot(tm) contracts (I.G. Kawaller). The pricing of forward and futures contracts with heterogeneous consumers (L.P. Blenman). Exchange rate determination in the forward exchange and foreign currency futures markets (A.M. Parhizgari, R.E. Mathis). Evidence on market efficiency in the term structure of currency futures prices (M.A. Sullivan). A theory of international takeover bidding (V.R. Errunza et al.). Foreign bank credit to US corporations: the implications of offshore loans (R.N. McCauley, R. Seth). Sovereign and corporate borrowing and sustainable growth: strategies model for the design of payments (E. Ortiz, E. Arjona).
£70.99
Emerald Publishing Limited Creating Value Through Acquisitions Demergers
Book SynopsisEnormous amounts of money are made and lost through activities related to Mergers, Acquisitions, Demergers, Buyouts and Alliances. This subject area has been extensively covered by "Long Range Planning". This volume brings together a selection of the key papers published by this Journal on the subject.Table of ContentsPart headings: Mergers and Acquisitions. Demergers, Buyouts and Divestments. Strategic Alliances and Joint Ventures.
£83.99
Cornerstone For All the Tea in China
Book SynopsisSarah Rose is a writer living in New York. She was educated at Harvard and the University of Chicago.Trade ReviewThe best parts of the book are not the dangers that Fortune encountered, but Rose's assured, confident descriptions of the manufacture of tea. Like Fortune, the reader goes on a journey of discovery * Mail on Sunday *Had your cup of tea this morning? If not, the next time you take a gulp of PG Tips or a sip of single estate orange pekoe you might want to send up a prayer of thanks for the dogged Scotsman who made it all possible, Robert Fortune ... Rose's account is full of colour * The Times *[Fortune's] story is well worth the telling, and Rose does so with skill and restraint * Literary Review *Reshapes into gripping prose Fortune's own memoirs and letters ... An enthusiastic tale of how the humble leaf became a global addiction * Financial Times *Reveals our cuppa wouldn't exist if it wasn't for an amazing Victorian, armed only with a rusty pistol and a pigtail, who stole the secret of tea from under the nose of China's ruthless warlords * Daily Mail *
£10.44
Penguin Books Ltd The Truth About Markets
Book SynopsisCapitalism faltered at the end of the 1990s as corporations were rocked by fraud, the stock-market bubble burst and the American business model unfettered self-interest, privatization and low tax faced a storm of protest. But what are the alternatives to the mantras of market fundamentalism?Leading economist John Kay unravels the truth about markets, from Wall Street to Switzerland, from Russia to Mumbai, examining why some nations are rich and some poor, why one-size-fits-all' globalization hurts developing countries and why markets can work but only in a humane social and cultural context. His answers offer a radical new blueprint for the future.
£13.49
Penguin Books Ltd Making Globalization Work The Next Steps to
Book SynopsisFrom Nobel Prize winner Joseph Stiglitz, Making Globalization Work gives real, concrete ways to deal with third world debt, make trade fair and tackle global warming. In Globalization and its Discontents Joseph Stiglitz changed the views of the public and world leaders alike by showing why globalization doesn''t work for the world''s poor. In this bold, ambitious follow-up, Stiglitz shows how powerful organizations such as the UN, the IMF and the World Bank can be made to consider everyone''s interests. Stiglitz examines how change has occurred rapidly over the past four years, proposing solutions and looking to the future. He puts forward radical new solutions to the seemingly intractable international problems which we face - in forms that are more likely to be accepted both by the US and the developing world than previous proposals. Another world is possible, he argues, and is not only morally right, but of benefit to us Trade ReviewStiglitz has written an excellent book that can act as a lodestar for those who want to achieve a different and better world -- Martin Jacques * Guardian *
£10.44
Penguin Books Ltd The Age of Turbulence
Book SynopsisAlan Greenspan''s The Age of Turbulence is the essential guide to what is happening in the world, and where we''re heading, from the ultimate expert. Alan Greenspan wielded more power than the presidents he worked for, from Ronald Reagan and Bill Clinton to George Bush and his son. He was in the command room of the world economy for longer than any other single figure. One word from him could send markets into freefall. Now Alan Greenspan, the legendary former chairman of the Federal Reserve, gives us a unique insider''s view of the world over his lifetime, from stock market exuberance to political turmoil - and his predictions for the future of our fast-changing, increasingly turbulent global economy. ''First rate ... [The Age of Turbulence] is intelligent in a way that few popular books on economics manage or even try to be ... An enjoyable read'' Economist ''With his book, [Greenspan] finally lets us
£15.29
Penguin Books Ltd False Economy
Book Synopsis*NEW YORK TIMES BESTSELLER*Why do some countries succeed while others fail? What causes boom or bust? The World Trade Editor of the FT explains how the world really works.''A thorough examination of economies from the age of empire to the age of the IMF'' The Washington PostWhy do oil and diamonds lead to economic disaster more often than boom? Why doesn''t Africa grow cocaine? Why might believing in God be good for your balance-sheet?Botswana and Sierra Leone are both blessed with abundant diamonds. Why did Botswana became the world''s fastest-growing economy while Sierra Leone suffered a decade of brutal civil war?For the past two hundred years Argentina had enjoyed a vista of economic opportunity almost identical to that of the USA but in 2001 Argentina''s government bankrupted itself. Why did the USA succeed while Argentina stalled?Time and again, world leaders have failed to
£10.44
Penguin Books Ltd Whoops
Book SynopsisJohn Lanchester''s Whoops! Why Everyone Owes Everyone and No One Can Pay is the unbelievable true story of the economic crisis. We are, to use a technical economic term, screwed. The cowboy capitalists had a party with everyone''s money and now we''re all paying for it. What went wrong? And will we learn our lesson - or just carry on as before, like celebrating surviving a heart attack with a packet of Rothmans? John Lanchester travels with a cast of characters - including reckless banksters, snoozing regulators, complacent politicians, predatory lenders, credit-drunk spendthrifts, and innocent bystanders to understand deeply and genuinely what is happening and why we feel the way we do. ''Devastatingly funny ... the route map to the crazed world of contemporary finance we have all been waiting for'' Will Self ''Bang on the money'' Independent ''Explains the crisis in a way that actuTrade ReviewThis is what George Bernard Shaw might have called An Intelligent Person's Guide to the Crisis of Modern Capitalism, and everyone ought to read it * Robert Harris, Sunday Times *Original . . . beautifully written . . . both entertaining and profoundly anger-inducing * Chris Blackhurst, Evening Standard *The route map to the crazed world of contemporary finance we have all been waiting for. John Lanchester's superb book is everything its subject - the 2008 crash - was not: namely lucid, beautifully contrived, comprehensible to the reader with no specialist knowledge - and most of all devastatingly funny -- Will SelfWickedly funny . . . Good humor and good company will be the things that'll get us through * Dwight Garner, New York Times *Endlessly witty, but the wit is underpinned by a tremendous, unembarrassed anger and moral lucidity. A superb guide which will turn any reader into an expert within the space of 200 pages. * Jonathan Coe *Explains the madness of modern capitalism with razor-sharp insight, brilliant clarity and a refreshing dose of humour. A great book. * John O'Farrell *Scarier than Thomas Harris * Nicci French *John Lanchester's newfound mission: to explain the world of finance to the general public . . . The result is the perfect read for anyone still wondering what went wrong and why. Unless you'd rather they didn't know * Bloomberg *Literary and profound . . . a master explainer with an excellent grasp of sophisticated finance * Christopher Caldwell, The Daily Beast *Acidic, frightening, and sharply funny . . . a better book about the global meltdown than any other to date * EW.com *[A] sober message lurking among Lanchester's delightful wordplay, and it deserves attention by everyone who cares to understand where we are, how we got here and who is responsible * John Lawrence Reynolds, Globe and Mail *This is a piece of genius . . . It tells a proper story, like a novel, and we're all part of it - which means it is *gripping*. Yes! Gripping! A book about money! I know! But it's true. It is necessary, particularly - but not exclusively - if you're somebody who thinks, 'Fannie Mae, Freddie Mac, Iceland, um, mortgages, er...' and doesn't want to keep thinking it until the end of time, amoeba-stylee. I humbly posit that it is a masterpiece * India Knight *Lanchester has turned that fascination - coupled with a kind of astonished anger - into a lucid, conversational account of the crisis designed for non-financial types and helpfully leavened with jokes, swearing and interesting asides * Quentin Webb, Reuters *An excellent book for anyone wondering what the hell is going on. Triple A, as the credit rating agencies might say * Irish Times *Or you could simply borrow the book from someone. If they've read it, even better - they won't be expecting you to return it * The Telegraph *For anyone still wondering what the hell those bankers did with our money, try John Lanchester's deliciously escoriating Whoops! Even someone who can't remember their eight times tables comes away feeling wonderfully well informed -- Allison Pearson * summer reading recommendation, Psychologies *This account is by far the most lucid and entertaining explanation of the world banking crisis of 2008 -- Megan Walsh * summer reading recommendation, Times *A lively lay reader's guide to the financial crisis, written by a novelist who sought to educates himself about banking and its failures. Funny and pointed, it exposes the gulf between the two cultures of modern Britain: financial and non-financial -- Ed Crooks * summer reading recommendation, Financial Times *If you want to look like a rock of good sense, a person who is deep and wise and worried, then I suggest Whoops! by John Lanchester ... If only the Queen Mother were still alive, it would make sense even to her -- Colm Toibin * summer reading recommendation, Guardian *
£10.44
Penguin Books Ltd The Value of Everything
Book SynopsisMariana Mazzucato is Professor in the Economics of Innovation and Public Value at University College London (UCL), where she is also Founder and Director of the Institute for Innovation and Public Purpose. Her widely published research focuses on the relationship between public policy, innovation, and economic growth and she advises policymakers around the world on how to steer innovation so that it produces growth that is more inclusive and sustainable. She is author of the highly acclaimed book The Entrepreneurial State: Debunking Public vs. Private Sector Myths and co-editor of Rethinking Capitalism: Economics and Policy for Sustainable and Inclusive Growth. She is winner of the 2014 New Statesman SPERI Prize in Political Economy, the 2015 Hans-Matthöfer-Preis and the 2018 Leontief Prize for Advancing the Frontiers of Economic Thought. She was named as one of the 'three most important thinkers about innovation' in New Republic.Trade ReviewA stimulating analysis of the underlying causes of inequality and growth which forces us to confront long-held beliefs about how economies work and who benefits. ... The book itself adds value by forcing us to confront these points. -- Martin Wolf * Financial Times *Someone should make a musical out of this book. That is quite unlikely, I grant you, but not as unlikely as it sounds. In 1893 the Savoy theatre staged Gilbert and Sullivan's penultimate operetta, Utopia, Limited ... It is time to rework the idea and Mariana Mazzucato is a candidate to write the libretto. -- Philip Collins * The Times *As Mariana Mazzucuto's new book, published today, explains, our economy has been financialised and no longer rewards real value creation. -- Chi Onwurah * New Statesman *Mariana Mazzucato ... argues that we urgently need to rethink where wealth comes from to heal a sick system. -- Richard Kilgarriff * Management Today *Mariana Mazzucato offers an exposé of how value extractors and rent-seekers have been masquerading as value creators in the global economy. And, furthermore, how the conventional wisdom has indulged them in this. -- Fran Boait * Prospect *In The Value of Everything, published last week, Mazzucato sharpens her focus, not only lauding the role of 'mission-oriented' public investment, but honing her critique of the private sector too. -- Liam Halligan * The Spectator *Some economists merely interpret the world in various ways; others seek to change it. Mariana Mazzucato is an exemplar of the latter kind. The Italian-American is a restless thinker drawn to transformative, disruptive projects. ... Mazzucato's mission is to overturn the now dominant neoclassical theory of value. In the mid-19th century, she explained, an intellectual revolution occurred: rather than value determining price, price began to determine value. -- George Eaton * New Statesman *The Value of Everything is receiving accolades on Twitter from finance ministers and student idealists alike, and is clearly set to be essential summer reading for civil servants. -- Delphine Strauss * Financial Times *Praise for The Entrepreneurial State: Conventional economics offers abstract models; conventional wisdom insists that the answer lies with private entrepreneurship. In this brilliant book, Mariana Mazzucato...argues that the former is useless and the latter incomplete. -- Martin Wolf * Financial Times *One of the most incisive economic books in years. -- Jeffery Madrick * New York Review of Books *
£10.44
Penguin Books Ltd Asias Reckoning
Book Synopsis''Stunningly good'' Michael Burleigh, Evening Standard, Books of the Year 2017 A Financial Times Best Book of 2017''A shrewd and knowing book.'' Robert D. Kaplan, The Wall Street Journal''A compelling and impressive read.'' The Economist''Skillfully crafted and well-argued.'' Jeffrey Wasserstrom, Financial Times''An excellent modern history. . . . provides the context needed to make sense of the region''s present and future.'' Joyce Lau, South China Morning PostThe dramatic story of the relationship between the world''s three largest economies, one that is shaping the future of us all, by one of the foremost experts on east AsiaFor more than half a century, American power in the Pacific has successfully kept the peace. But it has also cemented the tensions in the toxic rivalry between China and Japan, consumed with endless history wars and entrenched political dynasTrade ReviewA shrewd and knowing book -- Robert D. Kaplan * Wall Street Journal *A compelling and impressive read * Economist *Skillfully crafted and well-argued -- Jeffrey Wasserstrom * Financial Times *An excellent modern history. . . . provides the context needed to make sense of the region's present and future. -- Joyce Lau * South China Morning Post *[A] wide-ranging study of China's re-emergence as a regional power in Asia after a long hiatus, thwarting the designs of other powers, including the United States and Russia. . . . The U.S. [finds itself] firmly ensnared in the so-called Thucydides trap, 'the principle that it is dangerous to build an empire but even more dangerous to let it go.' So it is, and the current leadership appears to be at a loss about what to do or to formulate other aspects of any coherent policy in and toward Asia. . . . Geopolitics wonks will want to give attention to this urgent but nonsensationalized argument. * Kirkus Reviews *The United States, China, and Japan form the power triangle that will shape much of the international politics in the 21st century. Richard McGregor's masterful The Party illuminated one corner of that triangle-China. In this important book he describes how the other two corners have interacted with China since World War II. Lucid, insightful and ominous, as the author describes big trouble ahead -- Eliot Cohen, author of SUPREME COMMANDRichard McGregor's new book is essential reading for anyone worried about the most fraught relationship in Asia-between China and Japan. With extensive experience in and knowledge of both China, Japan, and the United States, McGregor is in a unique position to unpack the relationship and sort through the extensive propaganda and myth-making on all sides. A great read! -- John Pomfret, author of The Beautiful Country and the Middle KingdomMcGregor distills years of meetings with high officials in China and Japan to give a vivid nuanced picture of their relations in the 21st century -- Ezra Vogel, author of Deng Xiaoping and the Transformation of ChinaAn in-depth depiction of radical changes and challenges in Japan-China relations in the post-war period, thoroughly researched and rich in storytelling. In the course of tumultuous relations with China, Japan has had to trail blaze in the face of the rise of China. Japan's naked exposure to the unfolding Realpolitik with China at its core is for the first time comprehensively reviewed. -- Yoichi Funabashi, former Editor-in-Chief, Asahi ShimbunA must read for anyone who wants to understand our future. Asia's Reckoning provides a detailed picture of the slow military, diplomatic and economic waltz between China, Japan and the United States that determined the shape of the past half-century. -- Nicholas Stuart * Brisbane Times *A compelling account of the post-war relationship between China, Japan and America, brings to life one of the world's most complicated love-hate triangles. -- Clifford Coonan * Irish Times *McGregor's brilliant book is packed with insights on the complex Sino-Japanese relationship, the gist of that being that past history should be our teacher rather than master. Will a more powerful China learn magnanimity, one wonders. -- David Sexton * Evening Standard, Book of the Year *For journalists taking up new posts in China, the first book I always suggest is Richard McGregor's The Party. I will now add McGregor's new book, Asia's Reckoning, to my list for those headed to the Far East. -- Melissa Chan * Los Angeles Review of Books *In Asia's Reckoning, Richard McGregor provides a cogent and superbly researched guide to the deep forces that undergird China's geopolitical strategy and the attempts of two other great powers in the region, the United States and Japan, to deal with it. -- Peter Tasker * The Mekong Review *McGregor's fascinating narrative of the three countries' relations over 50 years is filled with fresh anecdotes drawn from interviews and newly released archival documents. McGregor has a sharp eye for personalities and policy factions, as well as a firm grasp of geopolitics. -- Andrew Nathan * Foreign Affairs *Richard McGregor has followed up his masterful 2010 book on The Party by focusing on the collisions and the less frequent collusions between the three Pacific powers: China, Japan and the US. Most regional strategic writing is focused on one of the three countries, but McGregor has done immense research in each of them and sets up the story beautifully. -- Rowan Callick * The Australian *McGregor offers a masterful account of the complex fifty-year dance between China, Japan and the United States. -- Graeme Dobell * The Strategist *McGregor has written a magisterial book that combines old-fashioned shoe leather reporting and extensive archival research to hart seven decades of history between the three countries. -- Anna Fifield * Australian Foreign Affairs *
£10.44
Penguin Books Ltd Cohan W Why Wall Street Matters
Book SynopsisIf you like your smartphone or your widescreen TV, your car or your pension, then, whether you know it or not, you are a fan of Wall Street.William D. Cohan, bestselling author of House of Cards, has long been critical of the bad behaviour that plagued much of Wall Street in the years leading up to the 2008 financial crisis, and, as an ex-banker, he is an expert on its inner workings as well. But in recent years he has become alarmed by the vitriol directed at the bankers, traders and executives who keep the wheels of our economy turning. Why Wall Street Matters is a timely and trenchant reminder of the dire consequences for us all if the essential role these institutions play in making our lives better is carelessly curtailed.
£10.44
Penguin Books Ltd Shutdown
Book SynopsisFINALIST FOR THE ORWELL PRIZE FOR POLITICAL WRITING 2022 THE TIMES BOOKS OF THE YEAR 2021 ''A complex story, which Tooze tells with clarity and verve... The world is unlikely to be treated to a better account of the economics of the pandemic'' The Times From the author of Crashed comes a gripping short history of how Covid-19 ravaged the global economy, and where it leaves us now When the news first began to trickle out of China about a new virus in December 2019, risk-averse financial markets were alert to its potential for disruption. Yet they could never have predicted the total economic collapse that would follow in COVID-19''s wake, as stock markets fell faster and harder than at any time since 1929, currencies across the world plunged, investors panicked, and even gold was sold. In a matter of weeks, the world''s economy was brought to an abrupt halt by governments trying to contain a spiralling public health catastrophe. Flights were grounded; supply chains broken; industries from tourism to oil to hospitality collapsed overnight, leaving hundreds of millions of people unemployed. Central banks responded with unprecedented interventions, just to keep their economies on life-support. For the first time since the second world war, the entire global economic system contracted. This book tells the story of that shutdown. We do not yet know how this story ends, or what new world we will find on the other side. In this fast-paced, compelling and at times shocking analysis, Adam Tooze surveys the wreckage, and looks at where we might be headed next.''A seriously impressive book, both endlessly quotable and rigorously analytical'' Oliver Bullough, The GuardianTrade ReviewA complex story, which Tooze tells with clarity and verve... The world is unlikely to be treated to a better account of the economics of the pandemic. * The Times *Shutdown is a seriously impressive book, both endlessly quotable and rigorously analytical. Tooze synthesises a huge volume of information to argue that we must prepare for a new wave of crises or risk being sunk by them. Hopefully, governments everywhere will heed his warning. -- Oliver Bullough * The Guardian *Mr Tooze displays a remarkable ability to master the detail ... This is truly a picture of the global impact of the crisis; it covers the disruption in the financial markets, as well as the ins and outs of government policy. * The Economist *Fascinating, informative and wise. * Times Literary Supplement *An admirable work of synthesis and original analysis from the pre-eminent diagnostician of our age of discontents. * New Statesman *What sets [Shutdown] apart is Tooze's ability to keep his eye on the big picture - and the long view ... There will be plenty more books to come on the global economy of 2020. Few will be as timely, as wide-ranging or as clear as Shutdown. -- Duncan Weldon * Prospect *[A] brilliant, bracing account of the Covid pandemic and its protracted political aftermath ... Nuanced and wide-ranging. Tooze has the impressive ability, as a writer, to contextualise historical events as they unfold. -- Jamie Maxwell * The Herald *To read Shutdown feels like sitting alongside the great professor while he feverishly collates an array of data and anecdotes, attempts to chronicle what is going on, his head fizzing with ideas about what it might all mean and where it might be leading ... a fine use of one's time. -- Bill Emmott * Financial Times *Of all the instant histories spawned by the pandemic, this is the closest we'll get to a thriller ... it's a story that bears rereading ... a survival guide for the next man-made cataclysm that Adam Tooze warns will surely come soon. -- Patrick Maguire * The Times *A comprehensive history of an unprecedented year ... Readers will find this deeply informed parsing of the pandemic to be illuminating and thought-provoking. * Publishers Weekly *Tooze examines the unprecedented decision of governments around the world to shutter their economies in the face of pandemic ... As the pandemic hopefully continues to fade, other crises remain. This book is a valuable forecast of future problems. * Kirkus *
£11.69
Oxford University Press, USA International Trade and Investment Behaviour of
Book Synopsis
£33.75
OUP USA The Oxford Handbook of the Economics of Central Banking
Book SynopsisThe Oxford Handbook of the Economics of Central Banking reflects the state of the art in the theory and practice and covers a wide range of topics that will provide insight to students, scholars, and practitioners.Trade ReviewWritten by international scholars and banking-industry professionals, the 24 chapters in this handbook examine multiple aspects of central banking systems in worldwide markets, especially at how those systems have evolved since the global financial crisis of 2007-09. The contributors look at ways that monetary policy interacts with both the financial sector and the real economy by exploring the debate around controlling inflation and other emerging hot topics. * S. E. Fancher, Ozarks Technical Community College, Choice *
£173.03
