グローバル資本、証券市場と金融危機の政治的起源 Banks on the Brink : Global Capital, Securities Markets, and the Political Roots of Financial Crises (Political Economy of Institutions and Decisions)

Copelovitch, Mark/ Singer, David A.

Cambridge University Press（2020/02発売）

• 製本 Hardcover:ハードカバー版／ページ数 252 p.
• 言語 ENG
• 商品コード 9781108489881
• DDC分類 332.1

Full Description

This innovative analysis investigates a complex issue of tremendous economic and political importance: what makes some countries vulnerable to banking crises, while others emerge unscathed? Banks on the Brink explains why some countries are more vulnerable to banking crises than others. Copelovitch and Singer highlight the effects of two variables in combination: foreign capital inflows and the relative prominence of securities markets in the domestic financial system. Foreign capital is the fuel for banks' potentially dangerous behavior, and banks are more likely to take on excessive risks when operating in a financial system with large securities markets. The book analyzes over thirty years of data and provides historical case studies of two key countries, Canada and Germany, each of which explores how political decisions in the 19th and early-20th centuries continue to affect financial stability today. The analyses in this book have crucial policy implications, identifying potential regulations and policies that can work to protect banking systems against future crises.

Contents

1. The politics and economics of financial instability; 2. Banking crises, capital flows, and financial market structure; 3. Capital inflows, market structure, and banking crises: empirical evidence; 4. O Canada? Unraveling the mystery of Canadian bank stability; 5. Finanzplatz Deutschland: German bank stability and its decline; 6. Policy responses: what to do (and not to do) about financial instability.