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Emerging Markets and Financial Globalization: Sovereign Bond Spreads in 1870-1913 and Today

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Product Description

The frequency and virulence of recent financial crises have led to calls for reform of the current international financial architecture. In an effort to learn more about today's international financial environment, the authors turn to an earlier era of financial globalization between 1870 and 1913. By examining data on sovereign bonds issued by borrowing developing countries in this earlier period and in the present day, the authors are able to identify the characteristics of successful borrowers in the two periods. They are then able to show that global crises or contagion are a feature of the 1990s which was hardly known in the previous era of globalization. Finally, the authors draw lessons for today from archival data on mechanisms used by British investors in the 19th century to address sovereign defaults. Using new qualitative and quantitative data, the authors skilfully apply a variety of approaches in order to better understand how problems of volatility and debt crises are dealt with in international financial markets.

Product Specifications

Author
  • Paolo Mauro
  • Nathan Sussman
  • Yishay Yafeh
Binding
Kindle Edition
Edition
1
EISBN
9780191534133
Format
Kindle eBook
Label
Oxford University Press
Languages
  • English Published
Manufacturer
Oxford University Press
NumberOfItems
1
NumberOfPages
208
ProductGroup
eBooks
ProductTypeName
ABIS_EBOOKS
PublicationDate
2006-06-01
Publisher
Oxford University Press
ReleaseDate
2006-05-08
Studio
Oxford University Press
Title
Emerging Markets and Financial Globalization: Sovereign Bond Spreads in 1870-1913 and Today
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US
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