Name: The Volatility Machine (en Inglés)
Price: 73820.00 CLP
Availability: InStock
Author: Michael Pettis
ISBN: 9780195143300

portada The Volatility Machine (en Inglés)

Formato

Libro Físico

Editorial

Oxford University Press

Autor

Michael Pettis

Año

2001

Idioma

Inglés

N° páginas

268

Encuadernación

Tapa Dura

ISBN

0195143302

ISBN13

9780195143300

N° edición

Categorías

Finanzas

The Volatility Machine (en Inglés)

Michael Pettis (Autor) · Oxford University Press · Tapa Dura

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Origen: Estados Unidos (Costos de importación incluídos en el precio)

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Reseña del libro "The Volatility Machine (en Inglés)"

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