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The Volatility Machine: Emerging Economies and the Threat of Financial Collapse
Michael Pettis
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Description for The Volatility Machine: Emerging Economies and the Threat of Financial Collapse
Hardback. .
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 ... Read more
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 ... Read more
Product Details
Publisher
Oxford University Press Inc United States
Number of pages
266
Format
Hardback
Publication date
2001
Condition
New
Number of Pages
266
Place of Publication
New York, United States
ISBN
9780195143300
SKU
V9780195143300
Shipping Time
Usually ships in 4 to 8 working days
Ref
99-3
About Michael Pettis
Michael Pettis is a Managing Director at Bear Stearns, a New York investment bank and an adjunct professor at Columbia University where he teaches courses in international finance. He has been involved in emerging markets, both as an investment banker and as a sovereign adviser, since 1987. In addition, he has written extensively on the subject, on specialized financial topics, ... Read more
Reviews for The Volatility Machine: Emerging Economies and the Threat of Financial Collapse
The Volatility Machine provides a welcome departure from the sterile academic debate on the subject of financial crisis. Economists may quibble ... but would be wise not to ignore [Pettis's] insights into how they can exacerbate external risks.
Institutional Investor
A cogent and compelling essay on the dynamics of emerging market crises ... Pettis's book offers invaluable ... Read more
Institutional Investor
A cogent and compelling essay on the dynamics of emerging market crises ... Pettis's book offers invaluable ... Read more