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Crisis Banking In The East
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Book Synopsis Crisis Banking in the East by : Stuart Muirhead
Download or read book Crisis Banking in the East written by Stuart Muirhead and published by . This book was released on 1996-01-01 with total page 379 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Chartered Mercantile Bank was the forerunner of the Mercantile Bank, which became part of The Hongkong and Shanghai Banking Corporation in 1959. This study charts its first 40 years when it was one of the pioneering banks of the Far East, becoming the leading exchange bank in India and South East Asia while always retaining its head office in the pivotal London market. Based upon meticulous research using a particularly rich set of banking archives, Crisis Banking in the East describes the complex political and financial circumstances on the subcontinent during the bank's early years and introduces the personalities in the Indian business and London banking worlds who guided the infant institution. The volatility of local markets is analysed, including portraits of the banks and merchant houses which did not survive the many financial crises in the East. The book provides a vivid inside view of the workings of an Eastern bank - the nature of its business, methods of payment and exchange, and recruitment and career patterns of staff - and includes valuable new material on the role of European bankers in an Eastern setting.
Author :Stuart Muirhead Publisher :Studies in Banking and Financial History ISBN 13 :9781138267473 Total Pages :408 pages Book Rating :4.2/5 (674 download)
Book Synopsis Crisis Banking in the East by : Stuart Muirhead
Download or read book Crisis Banking in the East written by Stuart Muirhead and published by Studies in Banking and Financial History. This book was released on 2016-11-10 with total page 408 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Chartered Mercantile Bank is one of the constituent banks of the huge Hongkong and Shanghai bank. This study charts its first 40 years as one of the pioneering banks of the Far East. The Chartered Mercantile became the leading exchange bank in India and South East Asia whilst always retaining its head office in the pivotal London market. Based upon meticulous research using a particularly rich set of banking archives, the book describes the complex political and financial circumstances on the subcontinent during the bank's early years and introduces the personalities in the Indian business and London banking worlds who guided the infant institution. The volatility of local markets is analysed, with portraits of the banks and merchant houses which did not survive the many financial crises in the East also included. This book will do much to remedy the lack of existing research into international finance, and Eastern banking in particular, in the 19th century. It provides an inside view of the workings of an Eastern bank - the nature of its business, methods of payment and exchange, recruitment and career patterns of staff, and includes valuable new material on the role of European bankers in an eastern setting.
Book Synopsis The Banks Did It by : Neil Fligstein
Download or read book The Banks Did It written by Neil Fligstein and published by Harvard University Press. This book was released on 2021-06-08 with total page 334 pages. Available in PDF, EPUB and Kindle. Book excerpt: A comprehensive account of the rise and fall of the mortgage-securitization industry, which explains the complex roots of the 2008 financial crisis. More than a decade after the 2008 financial crisis plunged the world economy into recession, we still lack an adequate explanation for why it happened. Existing accounts identify a number of culpritsÑfinancial instruments, traders, regulators, capital flowsÑyet fail to grasp how the various puzzle pieces came together. The key, Neil Fligstein argues, is the convergence of major US banks on an identical business model: extracting money from the securitization of mortgages. But how, and why, did this convergence come about? The Banks Did It carefully takes the reader through the development of a banking industry dependent on mortgage securitization. Fligstein documents how banks, with help from the government, created the market for mortgage securities. The largest banksÑCountrywide Financial, Bear Stearns, Citibank, and Washington MutualÑsoon came to participate in every aspect of this market. Each firm originated mortgages, issued mortgage-backed securities, sold those securities, and, in many cases, acted as their own best customers by purchasing the same securities. Entirely reliant on the throughput of mortgages, these firms were unable to alter course even when it became clear that the market had turned on them in the mid-2000s. With the structural features of the banking industry in view, the rest of the story falls into place. Fligstein explains how the crisis was produced, where it spread, why regulators missed the warning signs, and how banksÕ dependence on mortgage securitization resulted in predatory lending and securities fraud. An illuminating account of the transformation of the American financial system, The Banks Did It offers important lessons for anyone with a stake in avoiding the next crisis.
Book Synopsis Crisis and Renewal in Twentieth Century Banking by : Edwin Green
Download or read book Crisis and Renewal in Twentieth Century Banking written by Edwin Green and published by Routledge. This book was released on 2017-03-02 with total page 304 pages. Available in PDF, EPUB and Kindle. Book excerpt: Crisis and Renewal in Twentieth Century Banking explores the behaviour of banks at times of war, revolution, civil war, social turmoil, and reconstruction. Analysing the history and archives of banks, it discovers examples of how banking is affected by political and social upheavals; how banks may influence the outcome of such events; how banking has recovered from periods of intense political and social stress; and how the archives of banks provide remarkable testimony to events in the wider world. By examining the setting of different banking markets in the last century, up to and including the transformation of Eastern and South Eastern Europe in the 1990s, this book marks a new direction for international discussion and research. Contributors include senior historians and archivists from Europe and the United States. Contributions include papers on Russia and foreign banks, 1917-30; depression and crisis in Central Europe in the 1930s; Civil War in Spain; post-war reconstruction in banking in Germany and the Far East; and crisis and renewal in South East Europe. The papers published in this collection were first presented at the twelfth Annual Conference of the European Association for Banking History, held in Ljubljana, Slovenia, in May 2001, and hosted by the Bank of Slovenia and the Nova Ljubljanska Banka.
Book Synopsis Early Warning Systems for Financial Crises by : Asian Development Bank
Download or read book Early Warning Systems for Financial Crises written by Asian Development Bank and published by Springer. This book was released on 2005-02-15 with total page 151 pages. Available in PDF, EPUB and Kindle. Book excerpt: Since the 1997 Asian financial crisis, East Asia has implemented a number of initiatives designed to strengthen monetary and financial cooperation, bolstering the region's resilience to economic and financial vulnerabilities. One such initiative is the ASEAN+3 Information Exchange and Policy Dialogue, which includes development of early warning systems (EWS) for financial crises. This book examines efforts to develop EWS models. Specifically, the book analyzes the current understanding of the causes of currency and banking crises, describes recent progress in developing and applying EWS models for currency and banking crises, reviews methodolgical issues, assesses the predictive power of EWS models and also highlights areas where further research is required to make these models more effective tools for policy analysis. The case studies apply both parametric and nonparametric approaches to EWS modleing using data from six East Asian countries.
Book Synopsis Foreign Bank Participation and Crises in Developing Countries by : Robert J. Cull
Download or read book Foreign Bank Participation and Crises in Developing Countries written by Robert J. Cull and published by World Bank Publications. This book was released on 2007 with total page 43 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper describes the recent trends in foreign bank ownership in developing countries, summarizes the existing evidence on the causes and implications of foreign bank presence, and reexamines the link between banking crises and foreign bank participation. Using data on the share of banking sector assets held by foreign banks in over 100 developing countries during 1995-2002, the results show that countries that experienced a banking crisis tended to have higher levels of foreign bank participation than those that did not. Furthermore, panel regressions indicate that foreign participation increased as a result of crises rather than prior to them. However, post-crisis increases in foreign participation did not coincide with increased credit to the private sector, perhaps because in many cases foreign banks acquired distressed banks.
Book Synopsis East Asia's Financial Systems by : Seiichi Masuyama
Download or read book East Asia's Financial Systems written by Seiichi Masuyama and published by Institute of Southeast Asian Studies. This book was released on 1999 with total page 392 pages. Available in PDF, EPUB and Kindle. Book excerpt: Financial systems in the East Asian region are commanding worldwide attention. Japan's financial sector, with an ailing banking system in the aftermath of a bubble economy, is undergoing a "Big Bang" deregulation, liberalization, and securitization. At the same time, the rehabilitation of Southeast Asian and Korean economies in the wake of the Asian financial crisis awaits restoration of their banking sectors. The region's bank-dominated and development finance-oriented financial systems are coming into friction with global capital markets that lack adequate architecture. In this volume, researchers from ten East Asian think- tanks analyse the financial systems in their respective economies. They survey the financial sector deregulation and liberalization that took place in the midst of economic booms and they evaluate the role of the financial systems in the region's current economic misfortunes. Together, the pieces in this volume lay the groundwork for understanding how financial systems in East Asia have evolved as the economies have grown more complex and capital markets have globalized, and how these systems must adapt to move beyond today's crisis to serve the region's economies in the future.
Book Synopsis Domestic Bank Regulation and Financial Crises by : Robert Dekle
Download or read book Domestic Bank Regulation and Financial Crises written by Robert Dekle and published by . This book was released on 2001 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt: A model of the domestic financial intermediation of foreign capital inflows based on agency costs is developed for studying financial crises in emerging markets. In equilibrium for the model economy, the banking system becomes progressively more fragile under imperfect prudential regulation and public sector loan guarantees until a crisis occurs with an expected reversal of capital flows. The crisis in this model evolves endogenously as the banking system becomes increasingly vulnerable through the renegotiation of firm debts. Firm revenues are subject to idiosyncratic firm-specific technology shocks, but there are no aggregate shocks. The model generates dynamic relationships between foreign capital inflows, domestic investment, firm debt and the value of firm and bank equity in an endogenous growth model. Prior to crisis, foreign capital inflows and bank debt rise relative to investment and domestic production. The aggregate portfolio of the banking sector deteriorates and the total value of bank equities declines in proportion to that for goods producers progressively. The model's assumptions and implications for the behavior of the economy before and after crisis are compared to the experience of five East Asian countries. The case studies compare three or near-crisis countries non-crisis economies, Taiwan and Singapore, and lend support to the model.
Book Synopsis Crisis Banking in the East by : Stuart Muirhead
Download or read book Crisis Banking in the East written by Stuart Muirhead and published by Routledge. This book was released on 2016-12-05 with total page 288 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Chartered Mercantile Bank is one of the constituent banks of the huge Hongkong and Shanghai bank. This study charts its first 40 years as one of the pioneering banks of the Far East. The Chartered Mercantile became the leading exchange bank in India and South East Asia whilst always retaining its head office in the pivotal London market. Based upon meticulous research using a particularly rich set of banking archives, the book describes the complex political and financial circumstances on the subcontinent during the bank's early years and introduces the personalities in the Indian business and London banking worlds who guided the infant institution. The volatility of local markets is analysed, with portraits of the banks and merchant houses which did not survive the many financial crises in the East also included. This book will do much to remedy the lack of existing research into international finance, and Eastern banking in particular, in the 19th century. It provides an inside view of the workings of an Eastern bank - the nature of its business, methods of payment and exchange, recruitment and career patterns of staff, and includes valuable new material on the role of European bankers in an eastern setting.
Book Synopsis Crisis and Contagion in East Asia by : Masahiro Kawai
Download or read book Crisis and Contagion in East Asia written by Masahiro Kawai and published by World Bank Publications. This book was released on 2001 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt: Currency and banking crises such as those originating in Mexico (1994), Thailand (1997), and the Russian Federation (1998) tend to be associated and often take place together across countries. The East Asian experience was a fruitful laboratory for examining key questions. For example: How did contagion occur so extensively, and why was it so devastating? Did policy responses to crises and contagion minimize their impact on the real economy? What type of international financial architecture is needed to prevent and manage crises and contagion?
Book Synopsis The Political Economy of Distress in East Asian Financial Institutions by : Paola Bongini
Download or read book The Political Economy of Distress in East Asian Financial Institutions written by Paola Bongini and published by World Bank Publications. This book was released on 2000 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt: "In the East Asian crisis, "connections" - with industrial groups or influential families - increased the probability of distress for financial institutions. Connections also made closure more, not less, likely, suggesting that the closure processes themselves were transparent. But larger institutions, although more likely to be distressed, were less likely to be closed, suggesting a "too big to fail" policy"--Cover.
Book Synopsis The Last Shall Be the First: The East European Financial Crisis by : Anders Åslund
Download or read book The Last Shall Be the First: The East European Financial Crisis written by Anders Åslund and published by Peterson Institute. This book was released on 2010 with total page 137 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Stock Market Responses to Bank Restructuring Policies During the East Asian Crisis by :
Download or read book Stock Market Responses to Bank Restructuring Policies During the East Asian Crisis written by and published by World Bank Publications. This book was released on 2001 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt: During a crisis of confidence, announcements of deposit guarantees may give market participants short-term confort. But stock market responses show that using public funds for bank bailouts is not a credible way to restore the health of the financial sector.
Book Synopsis States, Banks and Crisis by : Thomas Marois
Download or read book States, Banks and Crisis written by Thomas Marois and published by Edward Elgar Publishing. This book was released on 2012-05-01 with total page 276 pages. Available in PDF, EPUB and Kindle. Book excerpt: ''Thomas Marois'' book, States, Banks and Crisis, is highly attractive to development scholars because of the combinations of topics it discusses, the countries analyzed, and its characterization of financial capital as dominant. In the last century the states of Mexico and Turkey promoted robust economic growth guided by powerful public banking organizations. The book captures how this came to a halt since the 1980s through the privatizing of economic activity, especially banking activities in ways that induced steep banking crises that halted economic development. Marois discusses the theory and history of Mexico and Turkey in depth offering an excellent analysis of their neoliberal experiences while proposing new alternatives to reshape the linkages between the financial sector and economic growth.'' Noemí Levy, National Autonomous University of Mexico (UNAM), Mexico City ''This book attempts to provide a critique of neoclassical and liberal political economists as well as the much-hyped and influential "varieties of capitalism" approach, a variant of institutionalist political economy, by claiming that they are dismissive of "the structural power of financial capital". In this regard, it makes an important contribution to the critical political economy tradition with its detailed analysis of the relations between the state, finance capital and labour in the context of two "emerging capitalisms", Mexico and Turkey. Thereby, it enhances our understanding of how the financial crises function as driving forces of neoliberal transformation by initiating new forms of state specific to peripheral capitalism.'' Galip Yalman, Middle East Technical University, Turkey ''As analysts fixated on the financial crisis convulsing the core capitalist countries, the so-called "emerging markets" also saw stunning tranformations in the world of finance capitalism. This remarkable study by Tom Marois carefully dissects the evolution of the banking industry in two of the most significant state-led capitalisms, Turkey and Mexico, as they formed finance-led neoliberal economic policies. The consequences for their development strategies makes for sober reading. This is a unique and crucial study for students of the comparative political economy of contemporary capitalism.'' Greg Albo, York University, Canada ''Financialization is as financialization does. It is a mix of the universal characteristics of finance within capitalism, its contemporary powerful hold over, even defining feature of, the neoliberal age, and the myriad of specific global markets and countries into which it has penetrated. In a stunning work of comparative political economy, Marois brilliantly weaves together these aspects of finance drawing on both innovative theoretical insights and primary case study evidence from Turkey and Mexico to furnish what will become a classic and original contribution to the understanding of financialization in the developing world, highlighting both the role of the state in the era of putatively free markets and the possibility, indeed, necessity of alternatives.'' Ben Fine, University of London, UK ''Marois has provided us with a fascinating, rigorous and important study of the rise and persistence of finance capitalism in Mexico and Turkey. Drawing on an innovative historical materialist lens, Marois'' analysis reveals the struggles, contradictions, and continued significance of the banking sector in defining and redefining neoliberal-led development in these so-called "emerging markets". This is a very welcome addition to critical understandings of the role of finance and states in the global South.'' Susanne Soederberg, Queen''s University, Canada Thomas Marois'' groundbreaking interpretation of banking and development in Mexico and Turkey builds on a Marxian-inspired framework premised on understanding states and banks as social relationships alongside crisis and labor as vital to finance today. The book''s rich historical and empirical content reveals definite institutionalized relationships of power that mainstream political economists often miss. While leading to a timely analysis of the impact of the Great Recession on Mexico and Turkey, the major contribution of States, Banks and Crisis in its account of emerging finance capitalism. This is defined as the current phase of accumulation wherein the interests of financial capital are fused in the state apparatus as the institutionalized priorities and overarching social logic guiding the actions of state managers and government elites, often to the detriment of labor. This interdisciplinary and accessible study on banking and development will prove to be an important resource for upper-level undergraduates, graduates, and scholars in economics, development studies, political science, political economy, development finance, sociology, international relations and international political economy.
Book Synopsis Thailand:Financial Sector Reform and the East Asian Crises by : Tull Traisaorat
Download or read book Thailand:Financial Sector Reform and the East Asian Crises written by Tull Traisaorat and published by Springer. This book was released on 2000-02-23 with total page 474 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book takes as its focus the current supervisory and regulatory framework for bank supervision in Thailand and the Thai authorities' efforts to modernise and restructure the Thai banking system. It examines the obstacles to this restructuring, which include the current economic difficulties in Thailand and the East Asia region as well as more fundamental historical, cultural and socio-economic factors that underpin Thai society. The book looks at the numerous banking statutes put in place in Thailand in the past sixty years, including legislation of the 1980s in response to problems involving fraud, insider dealing and solvency concerns. It examines how historically ambiguous structures of governmental responsibility and power, and a heavy emphasis on government discretion in regulation, have so far inhibited the effectiveness of this extensive body of legislation in developing a sound modern banking system. There follows an in-depth analysis of the 1997-1998 Thai Banking Crisis and ways in which lessons can be learned to avoid similar crises in future. The author argues for a greater degree of transparency in the regulatory process to bring it into line with internationally accepted standards, for increased supervisory implementation and enforcement by Thai governmental authorities, and for the ultimate depoliticisation of the bank regulatory and supervisory processes.
Download or read book History of the Eighties written by and published by . This book was released on 1997 with total page 594 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Inside the Crisis by : Ms.Enrica Detragiache
Download or read book Inside the Crisis written by Ms.Enrica Detragiache and published by International Monetary Fund. This book was released on 2000-08-01 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt: Using aggregate and bank level data for several countries, the paper studies what happens to the banking system in the aftermath of a banking crisis. Contemporary crises are not accompanied by declines in aggregate bank deposits, and credit does not fall relative to output, although the growth of both deposits and credit slows down substantially. Output recovery begins in the second year after the crisis and is not led by a resumption in credit growth. Banks, including the stronger ones, reallocate their asset portfolio away from loans.
