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008			201130s2002 njua b b 001 0 eng
010			_a 2002107949
020			_a0691099855
035			_a(DLC) 2002107949
040			_aDLC _cBD-DhNSU _dBD-DhNSU
041	1		_aeng
050	0	0	_aHG3881 _b.T57 2002
082	0	0	_a332/.042 _221
100	1		_aTirole, Jean.
245	1	0	_aFinancial crises, liquidity, and the international monetary system / _cJean Tirole.
260			_aPrinceton, N.J. : _bPrinceton University Press, _cc2002.
300			_a1 online resource (xii, 151 p.)
336			_2rdacontent _atext _btxt
337			_2rdamedia _acomputer _bc
504			_aIncludes bibliographical references (p. [131]-143) and index.
520			_aOnce upon a time, economists saw capital account liberalization--the free and unrestricted flow of capital in and out of countries--as unambiguously good. Good for debtor states, good for the world economy. No longer. Spectacular banking and currency crises in recent decades have shattered the consensus. In this remarkably clear and pithy volume, one of Europe's leading economists examines these crises, the reforms being undertaken to prevent them, and how global financial institutions might be restructured to this end. Jean Tirole first analyzes the current views on the crises and on the reform of the international financial architecture. Reform proposals often treat the symptoms rather than the fundamentals, he argues, and sometimes fail to reconcile the objectives of setting effective financing conditions while ensuring that a country "owns" its reform program. A proper identification of market failures is essential to reformulating the mission of an institution such as the IMF, he emphasizes. Next he adapts the basic principles of corporate governance, liquidity provision, and risk management of corporations to the particulars of country borrowing. Building on a "dual- and common-agency perspective," he revisits commonly advocated policies and considers how multilateral organizations can help debtor countries reap enhanced benefits while liberalizing their capital accounts. Based on the Paolo Baffi Lecture the author delivered at the Bank of Italy, this refreshingly accessible book is teeming with rich insights that researchers, policymakers, and students at all levels will find indispensable.
526	0		_aEconomics
590			_aMd. Abdul Hakim
590			_a Miron Khan
650		0	_aInternational finance.
650		0	_aFinancial crises.
650		0	_aLiquidity (Economics)
655		7	_2local _aElectronic books.
856	4	1	_zFull text available: _3◉ login required _uhttps://opac.northsouth.edu/cgi-bin/koha/opac-retrieve-file.pl?id=887646a22f02ff4c3bd439bc752cc49c
942			_2lcc _cEBOOK
999			_c29242 _d29242