Public Borrowing

Public Borrowing

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The recent Eurozone Debt Crisis, coming on the heels of the financial crisis and Great Recession, has provoked a renewed interest in the determinants of public borrowing. By nature an interdisciplinary subject, public borrowing draws from fields as diverse as macroeconomics, finance, law, history, politics and sociology. This new four volume collection will systematically survey this vast and disparate literature, gathering together the key writings and research to provide an essential research more

Product details

  • Hardback | 1600 pages
  • 156 x 234mm
  • Taylor & Francis Ltd
  • London, United Kingdom
  • English
  • 1138905534
  • 9781138905535

Table of contents

Public Borrowing: Critical Concepts in Finance Edited by D'Maris Coffman Volume I: The Advent of Modern Public Borrowing 1. Werner Baer, 'Import Substitution and Industrialization in Latin America: Experiences and Interpretations', Latin American Research Review 7, 1, 1972, 95-122. 2. Robert J. Barro and David B. Gordon, 'Rules, Discretion, and Reputation in a Model of Monetary Policy', Journal of Monetary Economics 12, 1983, 101-121. 3. Michael Bordo and Hugh Rockoff, 'The Gold Standard as a "Good Housekeeping Seal of Approval"', Journal of Economic History, LVI, 1996, 389-428. 4. Allan Drazen and Paul R. Masson, 'Credibility of Policies Versus Credibility of Policy Makers', Quarterly Journal of Economics 109, 1994, 735-754. 5. Sebastian Edwards, 'LDC Foreign Borrowing and Default Risk: An Empirical Investigation, 1976-80', American Economic Review 74, 4, 1984, 726-734. 6. Niall Ferguson and Moritz Schularick, 'The Empire Effect: The Determinants of Country Risk in the First Age of Globalization, 1880-1913', Journal of Economic History 66, 2, 2006, 283-312. 7. Switgard Feurstein and Oliver Grimm, 'On the Credibility of Currency Boards', Review of International Economics 14, 5, 2006, 818-835. 8. Marc Flandreau, 'Caveat Emptor: Coping with Sovereign Risk without the Multilaterals', CEPR Discussion Paper No. 2004, 1998. 9. Marc Flandreau, 'The French Crime of 1873: An Essay in the Emergence of the International Gold Standard, 1870-1880', Journal of Economic History 56, 4, 1996, 862-897. 10. Ross Levine and Sara Zervos, 'Stock Markets, Banks, and Growth', American Economic Review 88, 3, 1998, 537-558. 11. Larry D. Neal, 'The Bank of England's First Return to Gold and the Stock Market Crash of 1825,' Federal Reserve Bank of St. Louis Review, 79 (May/June), 1998, 53-76. 12. Douglas C. North and Barry R. Weingast, 'Constitutions and Commitment: The Evolution of Institutions Governing Public Choice in Seventeenth-Century England', Journal of Economic History 59, 4, 1989, 803-832. 13. Nathan Sussman and Yishay Yafeh, 'Contagion and Capital Market Integration in Asia: Historical and Contemporary Evidence', Seoul Journal of Economics 12, 4, 1999, 391-417. 14. Adam Tooze and Martin Ivanov, 'Disciplining the "Black Sheep of the Balkans": Financial Supervision and Sovereignty in Bulgaria, 1902-1938', Economic History Review 64, 2011, 30-51. Volume II: The Washington Consensus and its Critics 15. Philippe Aghion, Abhijit V. Banerjee and Phillippe Bacchetta, 'Financial Development and the Instability of Open Economies', NBER Working Paper No. w10246, (January 2004). 16. Amadou N. R. Sy, 'Emerging Market Bond Spreads and Sovereign Credit Ratings: Reconciling Market Views with Economic Fundamentals', IMF Working Paper 01/165, 2001. 17. Nancy Birdsall, Augusto de la Torre and Felipe Valencia Caicedo, 'The Washington Consensus: Assessing a Damaged Brand', World Bank Working Paper 213, 2010. 18. Guillermo A. Calvo and Carmen M. Reinhart, 'Fear of Floating', The Quarterly Journal of Economics 117, 2, 2002, 379-408. 19. Richard Cantor and Frank Pecker, 'Determinants and Impact of Sovereign Credit Ratings', Federal Reserve Bank of New York Economic Policy Review October 1996, 37-54,. 20. Rudiger Dornbusch, 'Expectations and Exchange Rate Dynamics', Journal of Political Economy 84, 6, 1976, 1161-1176. 21. Stanley L., Engerman and Kenneth L. Sokoloff, 'Factor Endowments, Institutions, and Differential Paths of Growth Among New World Economies: A View from Economic Historians of the United States', in Stephen Haber (ed.) How Latin America Fell Behind (Stanford University Press, California, 1997), pp. 260-304. 22. Gianluigi Ferrucci, 'Empirical Determinants of Emerging Market Economies' Sovereign Bond Spreads', Working Paper No. 205. Bank of England, London, 2003. 23. Stanley Fischer, 'Exchange Rate Regimes: Is the Bipolar View Correct?', Journal of Economic Perspectives 15, 2, 2001, 3-24. 24. Heather D. Gibson, Stephen G. Hall and George S. Tavlas, 'The Greek Financial Crisis: Growing Imbalances and Sovereign Spreads', Journal of International Money and Finance 31, 2012, 498-516. 25. Paul Krugman, 'Financing vs. Forgiving a Debt Overhang', Journal of Development Economics 29, 3, 1998, 253-268. 26. Cesar Martinelli and Mariano Tommasi. 'Sequencing of Economics Reforms in the Presence of Political Constraints', Economics and Politics 9, 2, 1997, 115-131. 27. Ronald I. McKinnnon and Huw Pill, 'Credible Economic Liberalizations and Overborrowing', American Economic Review 87, 2, 1997, 189-193. 28. Josei Antonio Ocampo, 'Capital-Account and Counter-Cyclical Prudential Regulations in Developing Countries', in Ricardo Ffrench-Davis and Stephany Griffith-Jones (eds), From Capital Surges to Drought: Seeking Stability for Emerging Markets (Palgrave MacMillan. London, 2003), pp. 217-244. 29. Dani Rodrik, Arvind Subramanian and Francesco Trebbi, 'Institutions Rule: The Primacy of Institutions Over Geography and Integration in Economic Development', Journal of Economic Growth 9, 2, 2004, 131-165. 30. Joseph E. Stiglitz, 'Capital Market Liberalization, Economic Growth, and Instability', World Development 28, 6, 2000, 1075-1086. 31. J. Williamson, 'What Should the World Bank Think about the Washington Consensus?', World Bank Economic Review 15, 2, 2000, 251-264. Volume III: The Role of Fiscal Policy 32. Torben M. Andersen, 'Fiscal Policy Targeting Under Imperfect Information', Journal of International Money and Finance 34, April, 2013, 114-130. 33. Emanuele Baldacci and Manmohan S. Kumar, 'Fiscal Deficits, Public Debt, and Sovereign Bond Yields', IMF Working Paper 10/184, 2010. 34. Theodore M. Barnhill, Jr. and George Kopits, 'Assessing Fiscal Sustainability Under Uncertainty', Working Paper 03/79, International Monetary Fund, 2003. 35. Roel Beetsma and Harald Uhlig, 'An Analysis of the Stability and Growth Pact', Economic Journal 109, 458, 1999, 546-71. 36. Olivier Blanchard, 'Current Account Deficits in Rich Countries', IMF Staff Papers 54, 2, 2007, 191-219. 37. Guglielmo Caporale, Michael Chui, Stephen G. Hall and Brian Henry, 'Fiscal Consolidation: An Exercise in the Methodology of Coordination', Journal of Economic Integration 20, 1, 2005, 1-25. 38. Jaime Caruana and Stefan Adjiev, 'Sovereign Creditworthiness and Financial Stability: An International Perspective', Banque de France Financial Stability Review 16, April 2012, 71-85. 39. Martin Feldstein, 'The Political Economy of a European Economic and Monetary Union: Political Sources of an Economic Liability', Journal of Economic Perspectives 11, 4, 1997, 23-42. 40. Jordi Gali and Tommaso Monacelli, 'Optimal Monetary and Fiscal Policy in a Currency Union', Journal of International Economics 76, 1, 116-32. 41. Marcio Garcia and Roberto Rigobon,'A Risk Management Approach to Emerging Markets' Sovereign Debt Sustainability with an Application to Brazilian Data', in F. Giovazzi, I. Goldfajn and S. Herrera (eds), Inflation Targeting, Debt and the Brazilian Experience 1999 to 2003 (MIT Press, Cambridge, 2005), pp. 163-188. 42. F. Coricelli and V. Ercolani. 'Fiscal Rules on the Road to an Enlarged European Union', in G. Kopits (ed.), Rules-based Fiscal Policy in Emerging Markets (Palgrave Macmillan, 2004). 43. R. Hausmann, 'Good Credit Ratios, Bad Credit Ratings: The Role of Debt Structure', in G. Kopits (ed.), Rules-based Fiscal Policy in Emerging Markets (Palgrave Macmillan, 2004). 44. George Kopits, 'Overview of Fiscal Policy Rules in Emerging Markets', in G. Kopits (ed.), Rules-based Fiscal Policy in Emerging Markets (Palgrave Macmillan, 2004), pp. 1-12. 45. Finn E. Kydland and Edward Prescott, 'Rules Rather than Discretion: The Inconsistency of Optimal Plans', Journal of Political Economy 85, 1977, 473-491. 46. Evan Tanner and Issouf Samaka, 'Probabilistic Sustainability of Public Debt: A Vector Autoregression Approach for Brazil, Mexico and Turkey', IMF Working Papers 06/295, International Monetary Fund, 2006. Volume IV: Market Microstructure, Creditor Action and Contagion 47. F. Allen and D. Gale, 'Financial Contagion', Journal of Political Economy, 108, 1, 2000, 1-33. 48. J. D. Amato, 'Risk Aversion and Risk Premia in the CDS Market', BIS Quarterly Review Part 5, December, 2005, 55-68. 49. M. G. Arghyrou and J. D. Tsoukalas, 'The Greek Debt Crisis: Likely Causes, Mechanics and Outcomes', World Economy 34, 2011, 173-191. 50. J. Beirne and M. Fratzscher, 'The Pricing of Sovereign Risk and Contagion During the European Sovereign Debt Crisis', Journal of International Money and Finance 34, 2013, 60-82. 51. N. M. Boyson, C. W. Stahel and R. M. Stulz, 'Hedge Fund Contagion and Liquidity Shocks', Journal of Finance 65, 5, 2010, 1789-1816. 52. M. K. Brunnermeier and L.H. Pedersen, 'Market Liquidity and Funding Liquidity', Review of Financial Studies 22, 6, 2009, 2201-2238. 53. G. Dell'Ariccia, I. Schnabel and J. Zettelmeyer, 'How do Official Bailouts Affect the Risk of Investing in Emerging Markets?', Journal of Money, Credit and Banking 38, 2006, 1689-1714. 54. Fabio Fornari and Livio Stracca, 'What Does a Financial Shock Do? First International Evidence', Economic Policy 27, 71, 2012, 407-445. 55. Nicola Gennaioli, Alberto Martin and Stefano Rossi, 'Banks, Government Bonds, and Default: What Do the Data Say?', (July 2014). IMF Working Paper No. 14/120. 56. G. A. Karolyi, 'Does International Finance Contagion Really Exist?', International Finance 6, 2, 2003, 179-199. 57. R. Pitchford and M. L. J. Wright, 'On the Contribution of Game Theory to the Study of Sovereign Debt and Default', Oxford Review of Economic Policy 29, 4, 2013, more