- Paperback: 404 pages
- Publisher: Clarendon Press; New Ed edition (5 Oct 1995)
- Language English
- ISBN-10: 0198233310
- ISBN-13: 978-0198233312
- Product Dimensions: 22.9 x 15.3 x 2.4 cm
- Amazon Bestsellers Rank: 1,564,037 in Books (See Top 100 in Books)
- See Complete Table of Contents
| |||||||||||||||
Did you know you can trade in your old books for an Amazon.co.uk Gift Card to spend on the things you want? Visit the Amazon.co.uk Trade-In Store for more details. |
Product details |
More About the Author
Product Description
Review
"It will constitute the beginning point of most future research efforts in the financial disorder field."--Journal of Economic Literature
Product Description
A remarkable feature of the period since 1970 has been the patterns of rapid and turbulent change in financing behaviour and financial structure in many advanced countries. These patterns have, in turn, often been marked by rising indebtedness, default on loans and periods of financial instability, whether in the non-financial sectors, the financial sector or both. This book explores, both in theoretical and empirical terms, the nature of the relationships between underlying phenomena; namely levels and changes in borrowing (debt), vulnerability to default in the corporate and household sectors (financial fragility), and widespread disorder in the financial sector (systemic risk). Davis focuses on the wider generality of the phenomena at issue whereby similar patterns are observable in several countries, but not in others, as well as in the international capital markets themselves. Particular attention is paid to the importance of the nature and evolution of financial structure to the genesis of instability. Given the international scope of the analysis, the work is germane to the study of the devlopment of financial systems in all advanced countries, as well as the euromarkets. It will be of particular relevance, however, in the US, Japan, Germany, France, the UK, and Canada, Italy, Australia, Sweden, Norway, Finland, whose experience is examined in detail. In this expanded and revised edition, the macroeconomic consequences of fragility and the appropriate policy response are examined in particular detail, with the analysis focusing on macroeconomic performance in eleven countries over 1988-93. A wide range of issues relating to financial stability, including risk in payments systems, derivatives, and property lending, are also considered.
Inside This Book
(Learn More)
First Sentence
This section offers essential background for the analysis of the rest of the book. Read the first page
Front Cover | Copyright | Table of Contents | Excerpt | Index
This section offers essential background for the analysis of the rest of the book. Read the first page
Explore More
Concordance
Browse Sample PagesConcordance
Front Cover | Copyright | Table of Contents | Excerpt | Index
Tag this product(What's this?)Think of a tag as a keyword or label you consider is strongly related to this product.
Tags will help all customers organise and find favourite items. |
Sell a Digital Version of This Book in the Kindle Store
If you are a publisher or author and hold the digital rights to a book, you can sell a digital version of it in our Kindle Store.
Learn more
Customer Reviews
|
There are no customer reviews yet on Amazon U.K.
|
||||||||||||||||||||
|
Most Helpful Customer Reviews on Amazon.com (beta)
Amazon.com:
3.0 out of 5 stars (2 customer reviews)
1 of 1 people found the following review helpful:
1.0 out of 5 stars
Overrated, 30 Aug 2001
By Hans Tietmeyer - Published on Amazon.com
This review is from: Debt, Financial Fragility, and Systemic Risk (Paperback)
Having re-read this book for the second time,I have to confess that I still have severe doubts about the validity of the underlying assessments. The fundamental problem of the book is its pre-occuptation with the anglo-saxon shorttermist mentality which leads to ultimately misleading conclusions regarding monetary policy. Ultimately a firm orientation of monetary policy towards the medium-term objective of price stability - in the context of an 'ordnungspolitische' well-based broader economic and social framework - it the best guarantor of the financial and economic stability which is essential to reap the full fruits of economic progress. The experience of Germany over the last 30 years - which, in contrast to the poor record of the anglo-saxon economies, is characterised by a solid track record of price stability combined with the absence of notable financial fragility - is powerful evidence of the enduring truth of this proposition. While this view may not be en vogue with many financial commentators - especially those in the anglo-saxon presse - I am convinced that this will change radically in the near future, as events unfold in the US and reveal the inherent weakness of monetary policies orientated to cyclical fine-tuning and the support of stock marktes.
5.0 out of 5 stars
A tour de force of economic analysis, 1 May 1998
By G. Fagan (gf@gfagan.hg.eunet.de) - Published on Amazon.com
This review is from: Debt, Financial Fragility, and Systemic Risk (Paperback)
This book - authored by E.P. Davis the foremost expert in the study of financial crises - provides a comprehensive overview of the theory of financial fragility together with a review of a detailed review of a number of case studies. These range from the Herstatt crisis of the 1970s to the housing booms/busts in the UK and Scandanavia in the 1980s/1990s. It is essential reading for all economists seeking to understand the underlying factors at work in generating financial fragility. It should be required reading for those responsible for the supervision of financial institutions.
Listmania!
Look for similar items by category
Look for similar items by subject
Feedback
- Would you like to update product info or give feedback on images?
- I am the Author, and I want to comment on my book.
- I am the Publisher, and I want to comment on this book.
|
