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"Reconfiguration of financial systems is one of the prime topics in global finance today. National economics rely heavily on the efficiency and dynamism of the financial system. Allocating and reallocating capital promotes growth by supporting emerging industries and cleaning-out declining sectors. Identifying which kind of system does this most effectively is of great interest to policy makers as well as managers directly involved in the financial...
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This is a revision of the business of global banking. With the increased globalization of the world economy few sectors are the equal of banking and financial services in dynamism or structural change. Roy C. Smith and Ingo Walter assess this transformation-its causes, its course and its consequences. They begin by examining international commercial banking, including the issue of cross-border risk evaluation and exposure management, and the creation...
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"This pathbreaking book is the first close examination of the inner workings of the World Bank, the foundations of its achievements, its propensity for intensifying the problems it intends to cure, and its remarkable ability to tame criticism and extend its own reach." "The book sheds new light on the World Bank's role in increasing global inequalities and considers why it has become the central target for anti-globalization movements worldwide. For...
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"Uncovering the World Bank's loan programs in the developing world, author Steve Berkman finds nothing but mismanagement and hypocrisy. Using internal reports and memos, project documents and the Bank's Annual Reports as reference, Berkman demonstrates management's obsession with lending despite the high fiduciary risks involved. Taking the reader inside several project fraud investigations, he exposes the ease with which funds can be stolen from...
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A look at how the world's leading financial institutions - the IMF, World Bank and WTO - have been hijacked by the economic ideology of neoliberalism and the interest behind it, particularly from the 1980s onwards and in relation to their global financial, developmental and trade management roles.
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"Even before September 11, 2001, it was clear that not everyone was happy with globalization: violent protests have become a regular feature of international summit meetings, and many young people have expressed their strong opposition to policies that they see as enriching the rich at the expense of workers, the environment, and traditional culture." "In this book, Soros not only identifies the problems but also puts forward practical proposals to...
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The mandate of multilateral institutions defines them as technical & functional institutions. This text challenges that view, arguing that they are political organizations & that their programmes have a significant impact on the domestic policies of the many countries in which they are involved.
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"The greatest success of the International Monetary Fund and the World Bank has been as globalizers. But at whose cost? Would borrowing countries be better off without the IMF and World Bank? This book takes readers inside these institutions and the governments they work with. Ngaire Woods decodes what they do and why they do it, using original research, extensive interviews carried out across many countries and institutions, and scholarship from...
13) Mortgaging the earth: the World Bank, environmental impoverishment, and the crisis of development
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The World Bank is the single biggest source of finance for international development, and its policies have a critical impact on the future of more than 110 borrowing countries. In this dramatic and lively new critique, Bruce Rich, internationally known expert on the environment and the World Bank, analyzes how the Bank has become a seemingly unstoppable and often destructive environmental and political force. The author chronicles the life-and-death...
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"Fuel for Change, with its evidence and case studies from a wide variety of countries in both the Third World and the transitional economies of Eastern Europe, examines the World Bank's new energy policies. It seeks to add to the pressure on the Bank to shift its capital lending and policy advice in favour of sustainable energy, including serious investment in energy efficiency, renewable energy sources and energy provision for the rural poor." "This...
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The book explains how U.S. regulators and foreign policy makers have struggled to keep pace with the internationalization of banks. The nation has modified its laws and foreign economic policies to protect the domestic banking system, ensure the stability of international financial markets, and, at times, promote specific foreign policy goals. Although U.S. policies have often hinged on the actions of private banks, such policies rarely succeed. Despite...
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As trade flows expanded and trade agreements proliferated after World War II, governments - most notably the United States - came increasingly to use their power over imports and exports to influence the behavior of other countries. But trade is not the only way in which nations interact economically. Over the past two decades, another form of economic exchange has risen to a level of vastly greater significance and political concern: the purchase...
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With penetrating insights for today, this vital history of the world economic collapse of the late 1920s offers portraits of four men--Montagu Norman, Amile Hilaire Emile Moreau, Hjalmar Horace Greeley Schacht, and Benjamin Strong--whose personal and professional actions as heads of their respective central banks changed the course of the twentieth century.
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There is still no consensus on who or what caused the financial crisis which engulfed the world, beginning in the summer of 2007. A huge number of suspects have been identified, from greedy investment bankers, through feckless borrowers, dilatory regulators and myopic central bankers to violent video games and high levels of testosterone among the denizens of trading floors. There is not even agreement on whether the crisis shows a need for more government...
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