This page intentionally left blank
|
|
- Gertrude Lewis
- 5 years ago
- Views:
Transcription
1 The Future BRICS
2 This page intentionally left blank
3 The Future BRICS A Synergistic Economic Alliance or Business as Usual? Rich Marino
4 Rich Marino 2014 Softcover reprint of the hardcover 1st edition All rights reserved. No reproduction, copy or transmission of this publication may be made without written permission. No portion of this publication may be reproduced, copied or transmitted save with written permission or in accordance with the provisions of the Copyright, Designs and Patents Act 1988, or under the terms of any licence permitting limited copying issued by the Copyright Licensing Agency, Saffron House, 6 10 Kirby Street, London EC1N 8TS. Any person who does any unauthorized act in relation to this publication may be liable to criminal prosecution and civil claims for damages. The author has asserted his right to be identified as the author of this work in accordance with the Copyright, Designs and Patents Act First published 2014 by PALGRAVE MACMILLAN Palgrave Macmillan in the UK is an imprint of Macmillan Publishers Limited, registered in England, company number , of Houndmills, Basingstoke, Hampshire RG21 6XS. Palgrave Macmillan in the US is a division of St Martin s Press LLC, 175 Fifth Avenue, New York, NY Palgrave Macmillan is the global academic imprint of the above companies and has companies and representatives throughout the world. Palgrave and Macmillan are registered trademarks in the United States, the United Kingdom, Europe and other countries. ISBN ISBN (ebook) DOI / This book is printed on paper suitable for recycling and made from fully managed and sustained forest sources. Logging, pulping and manufacturing processes are expected to conform to the environmental regulations of the country of origin. A catalogue record for this book is available from the British Library. A catalog record for this book is available from the Library of Congress. Typeset by MPS Limited, Chennai, India.
5 Contents List of Tables and Figures Acknowledgements vi ix Part I BRICS Forum: an Overview 1 Introduction 3 2 The BRICS Forum: an Overview 19 Part II Basel Accords 3 Basel III in Conjunction with Nation-Specific Regulatory Measures 37 Part III BRICS Macroeconomics 4 Macroeconomics of Brazil Macroeconomics of Russia Macroeconomics of India Macroeconomics of China Macroeconomics of South Africa BRICS Countries: Yesterday, Today and Tomorrow 131 Part IV Conclusions 10 Conclusions 151 Notes 196 Index 208 v
6 List of Tables and Figures Tables 1.1 Growth post-crisis has been much weaker than pre-crisis: BRICS without China Basel III minimum capital ratios and phase-in plans Pre-crisis and current levels of bank capital Remaining increases in bank capital ratios An increase in bank lending spreads relative to a one percentage point increase in bank capital Russia s percentage growth rates China: imports and exports of base metals in August Emerging and frontier markets China trade and A partial list of nations included in the World Bank s Doing Business reports Doing Business 2014: BRICS nations rankings for each measure Ownership of China s commercial banks Examples of the impact of Chinese trade on other nations India China bilateral trade South African trade with China by type of product Percentage of Chinese imports relative to total South African imports (WTO weights) Comparison of import unit values of key products imported from China in Chinese competition and producer price inflation in South Africa Industries in which loss to Chinese imports represented more than 10% of 2001 production 171 vi
7 List of Tables and Figures vii 10.8 China: changes in employment, and Estimated job losses in South Africa resulting from increased Chinese import penetration, Regression results for employment and wage models Simulated impact of Chinese competition on employment: selected industries BRICS trade profile (merchandise) BRICS trade profile (services) Sector analysis: agriculture Sector analysis: industry Sector analysis: services Tariff profiles Service sector commitments under GATS Economic indicators for the BRICS, Trade indicators for the BRICS BRICS share of world exports and imports of goods and services, selected years Share of BRICS economies in global FDI flows, selected years 191 Figures 4.1 Brazil: GDP growth Capital flows Value of Russia s infrastructure projects, planned and under construction Mumbai Sensex 30 days July August Emerging market private capital inflows, net China GDP g rowth China imports China exports South Africa: nonresidents purchases/sales of bonds $ billion, cumulative year to date South African inflation rate 123
8 viii List of Tables and Figures 8.3 Global GDP growth: emerging market economies and advanced economies (percent average annualized) South Africa: current account deficit South Africa: exports South Africa: imports Brazilian exports to China Brazilian imports from China Brazil China trade Russia: quarterly imports Russia: quarterly exports China South African bilateral trade balance by weighted WTO end-use classification Price per unit of Chinese imports relative to imports from other countries, BRICS nations GDP Trade between Brazil and the other BRICS nations Trade between Russia and the other BRICS nations Trade between India and the other BRICS nations Trade between China and the other BRICS nations Trade between South Africa and the other BRICS nations Exports of goods and services by the BRICS economies (US$ million) FDI inflows in the BRICS economies (US$ million) 192
9 Acknowledgements Without question, no manuscript can become a book without the support, encouragement and professional input of others. With that in mind, I would like to thank my editor Aimee Dibbens, my copyeditor Keith Povey, Gemma d Arcy Hughes and all of the Palgrave Macmillan production team. In support of my research findings, I would like to thank Maya Revzina of the World Bank, Enestor Da Rosa Dos Santos Junior of BBVA Research, Robin Koepke, Kristen Silverberg and Leah Davis of the Institute of International Finance a nd the Bank for International Settlements Basel Committee on Banking Supervision. June 2014 Rich Marino ix
Structural Revolution in International Business Architecture
Structural Revolution in International Business Architecture Structural Revolution in International Business Architecture Modelling and Analysis: Volume 1 Dipak Basu Nagasaki University, Japan Victoria
More informationFiscal Sustainability and Competitiveness in Europe and Asia
Fiscal Sustainability and Competitiveness in Europe and Asia This page Intentionally left blank Fiscal Sustainability and Competitiveness in Europe and Asia Ramkishen S. Rajan Adjunct Senior Research Fellow,
More informationAlso by Steven I. Davis
Banking in Turmoil Also by Steven I. Davis AFTER THE CREDIT CRISIS: Best Practice in Banking the High Net Worth Individual BANCASSURANCE: The Lessons of Global Experience in Banking and Insurance Collaboration
More informationDark Pools. The Structure and Future of Off-Exchange Trading and Liquidity ERIK BANKS
Dark Pools Palgrave Macmillan Finance and Capital Markets Series For information about other titles in this series please visit the website http://www.palgrave.com/business/finance and capital markets.asp
More informationMarketing in the Emerging Markets of Latin America
Marketing in the Emerging Markets of Latin America Also by Marin Marinov MARKETING IN THE EMERGING MARKETS OF CENTRAL AND EASTERN EUROPE: The Balkans INTERNATIONALIZATION IN CENTRAL AND EASTERN EUROPE
More informationInternational Papers in Political Economy
International Papers in Political Economy International Papers in Political Economy Series Series Editors: Philip Arestis and Malcolm Sawyer Titles include: Philip Arestis and Malcolm Sawyer (editors)
More informationLeveraged Exchange-Traded Funds
Leveraged Exchange-Traded Funds Leveraged Exchange- Traded Funds A Comprehensive Guide to Structure, Pricing, and Performance Narat Charupat and Peter Miu LEVERAGED EXCHANGE-TRADED FUNDS Copyright Narat
More informationTrade, Investment and Competition in International Banking
Trade, Investment and Competition in International Banking This page intentionally left blank Trade, Investment and Competition in International Banking Aidan O Connor Aidan O Connor 2005 Softcover reprint
More informationEquity Derivatives Explained
Equity Derivatives Explained Financial Engineering Explained About the series Financial Engineering Explained is a series of concise, practical guides to modern finance, focusing on key, technical areas
More informationEstimating SMEs Cost of Equity Using a Value at Risk Approach
Estimating SMEs Cost of Equity Using a Value at Risk Approach This page intentionally left blank Estimating SMEs Cost of Equity Using a Value at Risk Approach The Capital at Risk Model Federico Beltrame
More informationThe Reform of Macroeconomic Policy
The Reform of Macroeconomic Policy Also by f. 0. N. Perkins A GENERAL APPROACH TO MACROECONOMIC POLICY ANTI-CYCLICAL POLICY IN AUSTRALIA AUSTRALIA IN THE WORLD ECONOMY AUSTRALIAN MACROECONOMIC POLICY,
More informationSovereign Risk and Public-Private Partnership During the Euro Crisis
Sovereign Risk and Public-Private Partnership During the Euro Crisis This page intentionally left blank Sovereign Risk and Public- Private Partnership During the Euro Crisis Maura Campra University of
More informationRisk Management in Emerging Markets
Risk Management in Emerging Markets Centre for the Study of Emerging Markets Series Series Editor: Dr Sima Motamen-Samadian The Centre for the Study of Emerging Markets (CSEM) Series provides a forum for
More informationGlobal Stock Markets and Portfolio Management
Global Stock Markets and Portfolio Management Centre for the Study of Emerging Markets Series Series Editor: Dr Sima Motamen-Samadian The Centre for the Study of Emerging Markets (CSEM) Series provides
More informationReform and Responsibility in the Remaking of the Swedish National Pension System
Reform and Responsibility in the Remaking of the Swedish National Pension System Reform and Responsibility in the Remaking of the Swedish National Pension System Opening the Orange Envelope Anette Nyqvist
More informationHybrid Securities Structuring, Pricing and Risk Assessment
Hybrid Securities Hybrid Securities Structuring, Pricing and Risk Assessment Kamil Liberadzki and Marcin Liberadzki Warsaw School of Economics, Poland Kamil Liberadzki and Marcin Liberadzki 2016 Softcover
More informationMonetary Policy and the Economy in South Africa
Monetary Policy and the Economy in South Africa Monetary Policy and the Economy in South Africa Mthuli Ncube African Development Bank Group, South Africa and Eliphas Ndou Reserve Bank of South Africa,
More informationDO WORLD BANK AND IMF POLICIES WORK?
DO WORLD BANK AND IMF POLICIES WORK? Also by Shahrukh Rafi Khan HANDING BACK RURAL WATER SUPPLY SCHEMES TO COMMUNITIES: A Case for Collective Action JUST DEVELOPMENT: Beyond Adjustment with a Human Face
More informationRegionalism among Developing Countries
Regionalism among Developing Countries Also by Sheila Page HOW DEVELOPING COUNTRIES TRADE TRADE, FINANCE AND DEVELOPING COUNTRIES: Strategies and Constraints in the 1990s MONETARY POLICY IN DEVELOPING
More informationThis page intentionally left blank
The Future BRICS This page intentionally left blank The Future BRICS A Synergistic Economic Alliance or Business as Usual? Rich Marino Rich Marino 2014 Softcover reprint of the hardcover 1st edition 2014
More informationSmall Countries in a Global Economy
Small Countries in a Global Economy Also by Dominick Salvatore INTERNATIONAL ECONOMICS (seventh edition) MANAGERIAL ECONOMICS IN A GLOBAL ECONOMY (fourth edition) Also by loze P. Damijan SMALL COUNTRIES
More informationUnderstanding the Crisis in Greece
Understanding the Crisis in Greece Also by Theodore Pelagidis WELFARE STATE AND DEMOCRACY IN CRISIS (co-edited) Understanding the Crisis in Greece From Boom to Bust Michael Mitsopoulos and Theodore Pelagidis
More informationMicrocredit Guarantee Funds in the Mediterranean
Microcredit Guarantee Funds in the Mediterranean Palgrave Studies in Impact Finance Series Editor: Mario La Torre The Palgrave Studies in Impact Finance series provides a valuable scientific hub for re-searchers,
More informationBehavioral Finance and Capital Markets
Behavioral Finance and Capital Markets This page intentionally left blank Behavioral Finance and Capital Markets How Psychology Influences Investors and Corporations A d a m S z y sz ka BEHAVIORAL FINANCE
More informationGovernance and Risk in Emerging and Global Markets
Governance and Risk in Emerging and Global Markets Centre for the Study of Emerging Markets Series Series Editor: Dr Sima Motamen-Samadian The Centre for the Study of Emerging Markets (CSEM) Series provides
More informationAlso by Francis A. Lees
CHINA SUPERPOWER Also by Francis A. Lees BANKING AND FINANCIAL DEEPENING IN BRAZIL (with James M. Botts and Rubens Penha Cysne) FOREIGN BANKING AND INVESTMENT IN THE UNITED STATES GLOBAL FINANCE INTERNATIONAL
More informationDOI: / Risk and Trading on London s Alternative Investment Market
DOI: 10.1057/9781137361301.0001 Risk and Trading on London s Alternative Investment Market Other Palgrave Pivot titles Franklin G. Mixon, Jr: Public Choice Economics and the Salem Witchcraft Hysteria Elisa
More informationU r b a n L a n d. Economics. J a c k H a r v e y & E r n i e J o w s e y
U r b a n L a n d Economics J a c k H a r v e y & E r n i e J o w s e y S i x t h E d i t i o n URBAN L A N D ECONOMICS By Jack Harvey BASIC ECONOMICS BASIC ECONOMICS WORKBOOK ELEMENTARY ECONOMICS WORKBOOK
More informationBANCASSURANCE IN EUROPE
BANCASSURANCE IN EUROPE Also by Tobias C. Hoschka CROSS-BORDER ENTRY IN EUROPEAN RETAIL FINANCIAL SERVICES Bancassurance in Europe Tobias C. Hoschka E. C. Research Fellow University ofoxford MSt. Martin's
More informationGlobal Financial Markets series
Global Financial Markets series Global Financial Markets is a series of practical guides to the latest financial market tools, techniques and strategies. Written for practitioners across a range of disciplines
More informationEUROPEAN MACROECONOMICS
EUROPEAN MACROECONOMICS EUROPEAN MACROECONOMICS Robert Barro and Vittorio Grilli M MACMILLAN Robert J. Barro and Vittorio Grilli 1994 All rights reserved. No reproduction, copy or transmission of this
More informationTHE BANKING SYSTEM OF CYPRUS
THE BANKING SYSTEM OF CYPRUS Also by Kate Phylaktis FINANCIAL DATA OF BANKS AND OTHER FINANCIAL INSTITUTIONS INTERNATIONAL FINANCE AND THE LESS DEVELOPED COUNTRIES (editor with M. Pradhan) The Banking
More informationMarket Timing and Moving Averages
Market Timing and Moving Averages Market Timing and Moving Averages An Empirical Analysis of Performance in Asset Allocation PASKALIS GLABADANIDIS MARKET TIMING AND MOVING AVERAGES Copyright Paskalis
More informationCross-border Mergers and Acquisitions
Cross-border Mergers and Acquisitions This page intentionally left blank Cross-border Mergers and Acquisitions Theory and Empirical Evidence Ottorino Morresi and Alberto Pezzi cross-border mergers and
More informationTHE SEPARATION OF COMMERCIAL AND INVESTMENT BANKING The Glass-Steagall Act Revisited and Reconsidered
THE SEPARATION OF COMMERCIAL AND INVESTMENT BANKING The Glass-Steagall Act Revisited and Reconsidered STUDIES IN BANKING AND INTERNATIONAL FINANCE Published by Macmillan in association with the Department
More informationENERGY HEDGING IN ASIA
ENERGY HEDGING IN ASIA This page intentionally left blank Energy Hedging in Asia: Market Structure and Trading Opportunities PETER C. FUSARO AND TOM JAMES Peter C. Fusaro and Tom James 2005 Softcover reprint
More informationQUANTITATIVE METHODS FOR ELECTRICITY TRADING AND RISK MANAGEMENT
QUANTITATIVE METHODS FOR ELECTRICITY TRADING AND RISK MANAGEMENT This page intentionally left blank Quantitative Methods for Electricity Trading and Risk Management Advanced Mathematical and Statistical
More informationAsset Markets, Portfolio Choice and Macroeconomic Activity
Asset Markets, Portfolio Choice and Macroeconomic Activity Asset Markets, Portfolio Choice and Macroeconomic Activity A Keynesian Perspective Toichiro Asada Professor of Economics, Chuo University, Tokyo,
More informationLENDING IN INTERNATIONAL COMMERCIAL BANKING
LENDING IN INTERNATIONAL COMMERCIAL BANKING INTERNATIONAL BANKING SERIES Published by Palgrave Macmillan General Editor: Steven I. Davis Steven I. Davis THE MANAGEMENT OF INTERNATIONAL BANKS T. H. Donaldson
More informationThe Cost of Capital. Eva R. Porras
The Cost of Capital The Cost of Capital Eva R. Porras Eva R. Porras 2011 Softcover reprint of the hardcover 1st edition 2011 978-0-230-20183-5 All rights reserved. No reproduction, copy or transmission
More informationMIDDLE-CLASS BLACKS IN BRITAIN
MIDDLE-CLASS BLACKS IN BRITAIN Middle -Class Blacks in Britain A Racial Fraction of a Class Group or a Class Fraction of a Racial Group? Sharon J. Daye M St. Martin's Press Sharon J. Daye 1994 Softcover
More informationProject Analysis in Developing Countries
Project Analysis in Developing Countries Project Analysis in Developing Countries Steve Curry Senior ProjectEconomist Asian Development Bank Manila, Philippines and John Weiss Professor o( Development
More informationREGISTER. -of- DEFUNCT COMPANIES
REGISTER -of- DEFUNCT COMPANIES REGISTER OF DEFUNCT COMPANIES fl M stork MACMILLAN E\
More informationINTERNATIONAL DEBT AND CENTRAL BANKING IN THE 1980s
INTERNATIONAL DEBT AND CENTRAL BANKING IN THE 1980s STUDIES IN BANKING AND INTERNATIONAL FINANCE Published by Macmillan in association with the Centre for Banking and International Finance, The City University,
More informationPolitical Economy of Brazil
Political Economy of Brazil Also by Philip Arestis: FINANCIAL LIBERALIZATION (Co-editor with Malcolm Sawyer) THE POLITICAL ECONOMY OF ECONOMIC POLICIES (co-editor with Malcolm Sawyer) MONEY AND BANKING:
More informationBanking and Financial Systems in the Arab World
Banking and Financial Systems in the Arab World Also by Philip Molyneux and Munawar Iqbal THIRTY YEARS OF ISLAMIC BANKING Banking and Financial Systems in the Arab World Philip Molyneux Professor of Banking
More informationPublic Credit Rating Agencies
Public Credit Rating Agencies Public Credit Rating Agencies Increasing Capital Investment and Lending Stability in Volatile Markets Susan K. Schroeder PUBLIC CREDIT RATING AGENCIES Copyright Susan K.
More informationGreen Taxation in Question
Green Taxation in Question Also by Carsten Daugbjerg POLICY NETWORK UNDER PRESSURE: Pollution Control, Policy Reform and the Power of Farmers Also by Gert Tinggaard Svendsen PUBLIC CHOICE AND ENVIRONMENTAL
More informationJohn Wigley and Carol Lipman: The Enterprise Economy
Taxation ECONOMICS TODAY Edited by Andrew Leake The Ecanomics Today series surveys contemporary headline topics in applied economics. Each book in the series is written by an expert in the field in a style
More informationINWARD INVESTMENT, TECHNOLOGICAL CHANGE AND GROWTH
INWARD INVESTMENT, TECHNOLOGICAL CHANGE AND GROWTH This page intentionally left blank Inward Investment, Technological Change and Growth The Impact of Multinational Corporations on the UK Economy Edited
More informationGCSE. Accounting. D. E. Turner P. H. Turner MACMILLAN
GCSE Accounting GCSE Accounting D. E. Turner P. H. Turner M MACMILLAN D. E. Turner and P. H. Turner 1991 All rights reserved. No reproduction, copy or transmission of this publication may be made without
More informationAsian Fixed. Income. Markets
E m e r ~ n g Asian Fixed Income Markets E m e r ~ n Asian Fixed Income Markets Erik Banks -- MACMILLAN Eric Banks, 1994 Softcover reprint of the hardcover 1st edition 1994 All rights reserved. No reproduction,
More informationPLANNING PUBLIC SPENDING IN THE UK
PLANNING PUBLIC SPENDING IN THE UK Other books by Grahame Walshe International Monetary Reform Mergers and Concentration in British Industry (with P. E. Hart and M.A. Utton) Recent Trends in Monopoly in
More informationThe Multinational Subsidiary
The Multinational Subsidiary Also by Neil Hood Chrysler UK: A Corporation in Transition (with S. Young) European Development Strategies of US Multinationals Located in Scotland (with S. Young) Foreign
More informationPROJECT ANALYSIS IN DEVELOPING COUNTRIES
PROJECT ANALYSIS IN DEVELOPING COUNTRIES This page intentionally left blank Project Analysis in Developing Countries Steve Curry Lecturer, Development and Project Planning Centre University of Bradford
More informationFiscal Policy without a State in EMU?
Fiscal Policy without a State in EMU? This page intentionally left blank Fiscal Policy without a State in EMU? Germany, the Stability and Growth Pact and Policy Coordination Jani Kaarlejärvi Jani Kaarlejärvi
More informationThe Touche Ross Tax Guide for the Self-Employed
The Touche Ross Tax Guide for the Self-Employed Also available in Papermac: The Touche Ross Tax Guide to Pay and Perks by Bill Packer and Elaine Baker The Touche Ross Tax Guide for the Self-Employed BILL
More informationThe Indian Mutual Fund Industry
The Indian Mutual Fund Industry Also by G. V. Satya Sekhar BUSINESS POLICY AND STRATEGIC MANAGEMENT MANAGEMENT INFORMATION SYSTEMS PERFORMANCE APPRAISAL OF MUTUAL FUNDS IN INDIA STRATEGIC FINANCIAL MANAGEMENT
More informationTHE ECONOMICS OF NORTH SEA OIL TAXATION
THE ECONOMICS OF NORTH SEA OIL TAXATION Also by Danny Hann GOVERNMENT AND NORTH SEA OIL Also by Chris Rowland THE ECONOMICS OF CHOICE BETWEEN ENERGY SOURCES (co-editor) The Economics of North Sea Oil Taxation
More informationMACROECONOMICS An Introductory Text
Macroeconomics MACROECONOMICS An Introductory Text John Evans-Pritchard B.Sc. Econ. M MACMILLAN John Evans-Pritchard 1985 Softcover reprint of the hardcover 1st edition 1985 978-0-333-39058-0 All rights
More informationMicroeconomic Reform in Britain
Microeconomic Reform in Britain This page intentionally left blank Microeconomic Reform in Britain Delivering Opportunities for All HM TREASURY Foreword by Gordon Brown Chancellor of the Exchequer Edited
More informationPalgrave Macmillan Studies in Banking and Financial Institutions
Palgrave Macmillan Studies in Banking and Financial Institutions Series Editor : Professor Philip Molyneux The Palgrave Macmillan Studies in Banking and Financial Institutions are international in orientation
More informationTHE REGIONAL DISTRIBUTION OF FOREIGN MANUFACTURING INVESTMENT IN THE UK
THE REGIONAL DISTRIBUTION OF FOREIGN MANUFACTURING INVESTMENT IN THE UK Also by Stephen Hill FUNDAMENTALS OF MANAGERIAL ECONOMICS (with Julian Gough) MANAGERIAL ECONOMICS TIME, WORK AND ORGANISATION (with
More informationQuantitative Exchange Rate Economics in Developing Countries
Quantitative Exchange Rate Economics in Developing Countries This page intentionally left blank Quantitative Exchange Rate Economics in Developing Countries A New Pragmatic Decision-Making Approach M.
More informationConsumer Credit Fundamentals
Consumer Credit Fundamentals Also by Steven Finlay THE MANAGEMENT OF CONSUMER CREDIT Theory & Practice Consumer Credit Fundamentals Second Edition Steven Finlay Steven Finlay 2009 Softcover reprint of
More informationA GENERAL APPROACH TO MACROECONOMIC POLICY
A GENERAL APPROACH TO MACROECONOMIC POLICY Also by J.O.N. Perkins ANTI-CYCLICAL POLICY IN AUSTRALIA AUSTRALIA IN THE WORLD ECONOMY AUSTRALIAN MACROECONOMIC POLICY, 1974-85 THE AUSTRALIAN FINANCIAL SYSTEM
More informationThe Financialization of Commodity Markets
The Financialization of Commodity Markets This page intentionally left blank The Financialization of Commodity Markets Investing during Times of Transition Adam Zaremba THE FINANCIALIZATION OF COMMODITY
More informationThe Successes and Failures of Economic Transition
The Successes and Failures of Economic Transition Also by Hubert Gabrisch EU ENLARGEMENT AND ITS MACROECONOMIC EFFECTS IN EASTERN EUROPE (with Rüdiger Pohl) Also by Jens Hölscher THE GERMANY CURRENCY UNION
More informationDOI: / Payday Lending
DOI: 10.1057/9781137361103.0001 Payday Lending Other Palgrave Pivot titles Lisa Lau and Om Prakash Dwivedi: Re-Orientalism and Indian Writing in English Chapman Rackaway: Communicating Politics Online
More informationConsumer Credit Fundamentals
Consumer Credit Fundamentals This page intentionally left blank Consumer Credit Fundamentals Steven Finlay Steven Finlay 2005 Softcover reprint of the hardcover 1st edition 2005 978-1-4039-3978-4 All rights
More informationInvestigating Social Issues
Investigating Social Issues ECONOMICS TODAY Edited by Andrew Leake The Economics Today series surveys contemporary headline topics in applied economics. Each book in the series is written by an expert
More informationMacmillan Work Out Series. Accounting. A-Level
Macmillan Work Out Series Work Out Accounting A-Level The titles in this series For GCSE examinations Accounting Biology Business Studies Chemistry Computer Studies Economics English French Geography German
More informationProfiting [rom Monetary Policy
Profiting [rom Monetary Policy Profiting from M onetary Policy Investing through the Business Cycle Thomas Aubrey palgrave macmillan * Thomas Aubrey 2013 Softcover reprint ofthe hardcover lst edition 2013
More informationTHE ECONOMIC IMPACT OF LEASING
THE ECONOMIC IMPACT OF LEASING Also by David G. Mayes THE EXCHANGE RATE ENVIRONMENT (with S. Brooks and K. Cuthbertson) 'MODERN PORTFOLIO THEORY AND FINANCIAL INSTITUTIONS (editor with Desmond C. Corner)
More informationCover: The cover graph shows GDP growth (white line) and inflation (private consumption deflator) (grey line) in the Eurozone, using outturn data for
FROM EMS to EMU Cover: The cover graph shows GDP growth (white line) and inflation (private consumption deflator) (grey line) in the Eurozone, using outturn data for 1979 to 1997 from the OECD's December
More informationCAPITAL ACCOUNT REGIMES AND THE DEVELOPING COUNTRIES
CAPITAL ACCOUNT REGIMES AND THE DEVELOPING COUNTRIES Also by G. K. Helleiner AGRICULTURAL PLANNING IN EAST AFRICA (editor) A WORLD DNIDED (editor) FOR GOOD OR EVIL (editor) FROM ADJUSTMENT TO DEVELOPMENT
More informationValue-Based Working Capital Management
Value-Based Working Capital Management This page intentionally left blank Value-Based Working Capital Management Determining Liquid Asset Levels in Entrepreneurial Environments Grzegorz Michalski value-based
More informationEconomic Capital. and Financial Risk Management for Financial Services Firms and Conglomerates BRUCE T. PORTEOUS AND PRADIP TAPADAR
Economic Capital and Financial Risk Management for Financial Services Firms and Conglomerates BRUCE T. PORTEOUS AND PRADIP TAPADAR Bruce T. Porteous and Pradip Tapadar 2006 Softcover reprint of the hardcover
More informationBALANCE-OF-PA YMENTS THEORY AND THE UNITED KINGDOM EXPERIENCE
BALANCE-OF-PA YMENTS THEORY AND THE UNITED KINGDOM EXPERIENCE Also by A. P. Thirlwall * GROWTH AND DEVELOPMENT: with Special Reference to Developing Economies * INFLATION, SA VING AND GROWTH IN DEVELOPING
More informationFINANCIAL INSTABILITY AND THE INTERNATIONAL DEBT PROBLEM
FINANCIAL INSTABILITY AND THE INTERNATIONAL DEBT PROBLEM Financiallnstability and the International Debt Problem George McKenzie Direetor Centre/or International Eeonomies, University 0/ Southampton and
More informationMASTERING ACCOUNTING
MASTERING ACCOUNTING MACMILLAN MASTER SERIES Accounting Arabic Astronomy Australian History Background to Business Basic English Law Basic Management Biology British Politics Business Communication Business
More informationThis page intentionally left blank
The Gold Cartel This page intentionally left blank The Gold Cartel Government Intervention in Gold, the Mega-Bubble in Paper, and What This Means for Your Future Dimitri Speck Translated by Heinz Blasnik
More informationAlso by Shirley Dex BRITISH AND AMERICAN WOMEN AT WORK (with Lois B. Shaw) FRENCH AND BRITISH MOTHERS AT WORK (with Patricia Walters and David Alden)
FLEXIBLE EMPLOYMENT Also by Shirley Dex BRITISH AND AMERICAN WOMEN AT WORK (with Lois B. Shaw) FRENCH AND BRITISH MOTHERS AT WORK (with Patricia Walters and David Alden) LIFE AND WORK HISTORY ANALYSES
More informationA GUIDE TO UNEMPLOYMENT REDUCTION MEASURES
A GUIDE TO UNEMPLOYMENT REDUCTION MEASURES Also by Edwin Whiting HOW TO GET YOUR EMPLOYMENT COSTS RIGHT A GUIDE TO BUSINESS PERFORMANCE MEASUREMENTS A Guide to Unemployment Reduction Measures Edwin Whiting
More informationThe Management of Mutual Funds
The Management of Mutual Funds G.V. Satya Sekhar The Management of Mutual Funds Dr. G.V. Satya Sekhar MBA, Ph.D GITAM University India ISBN 978-3-319-33999-3 ISBN 978-3-319-34000-5 (ebook) DOI 10.1007/978-3-319-34000-5
More informationDOI: / The Double Crisis of the Welfare State and What We Can Do About It
The Double Crisis of the Welfare State and What We Can Do About It Also by Peter Taylor-Gooby NEW PARADIGMS IN PUBLIC POLICY A LEFT TRILEMMA: Progressive Public Policy in an Age of Austerity SQUARING THE
More informationTAX POLICY IN THE NORDIC COUNTRIES
TAX POLICY IN THE NORDIC COUNTRIES Also by Peter Birch S rensen PUBLIC FINANCE IN A CHANGING WORLD (editor) Tax Policy in the Nordic Countries Edited by Peter Birch SfZ}rensen Professor of Economics University
More informationRedrawing the Global Economy
Redrawing the Global Economy Also by Alice Landau BARGAINING ON POWER, BARGAINING ON POLICY: The CAP Reform and the Negotiations on Agriculture in the Uruguay Round CONFLITS ET COOPERATION DANS LES RELATIONS
More informationPalgrave Macmillan Studies in Banking and Financial Institutions
Palgrave Macmillan Studies in Banking and Financial Institutions Series Editor: Professor Philip Molyneux The Palgrave Macmillan Studies in Banking and Financial Institutions are international in orientation
More informationPearson Education Limited Edinburgh Gate Harlow Essex CM20 2JE England and Associated Companies throughout the world
Pearson Education Limited Edinburgh Gate Harlow Essex CM20 2JE England and Associated Companies throughout the world Visit us on the World Wide Web at: www.pearsoned.co.uk Pearson Education Limited 2014
More informationPUBLIC FINANCE IN AN OVERLAPPING GENERATIONS ECONOMY
PUBLIC FINANCE IN AN OVERLAPPING GENERATIONS ECONOMY This page intentionally left blank Public Finance in an Overlapping Generations Economy Toshihiro Ihori Projess01; Depar/menl of Economics University
More informationINTRODUCTION TO ACCOUNTANCY AND FINANCE
INTRODUCTION TO ACCOUNTANCY AND FINANCE TITLES IN THIS SERIES Published R. J. Briston Introduction to Accountancy and Finance H. K. Jaeger The Structure of Consolidated Accounting Ernest Laidler Variance
More informationA Foreign Exchange Primer
A Foreign Exchange Primer For other titles in the Wiley Trading series please see www.wiley.com/finance A FOREIGN EXCHANGE PRIMER Second Edition Shani Shamah A John Wiley and Sons, Ltd., Publication Copyright
More informationOptimization Methods for Gas and Power Markets
Optimization Methods for Gas and Power Markets Applied Quantitative Finance series Applied Quantitative Finance is a new series developed to bring readers the very latest market tested tools, techniques
More informationPalgrave Macmillan Studies in Banking and Financial Institutions
Palgrave Macmillan Studies in Banking and Financial Institutions Series Editor Philip Molyneux Bangor Business School Bangor University Bangor, United Kingdom The Palgrave Macmillan Studies in Banking
More informationAdvanced Accounting Floyd A. Beams Joseph H. Anthony Bruce Bettinghaus Kenneth Smith Eleventh edition
Advanced Accounting Floyd A. Beams Joseph H. Anthony Bruce Bettinghaus Kenneth Smith Eleventh edition Pearson Education Limited Edinburgh Gate Harlow Essex CM20 2JE England and Associated Companies throughout
More informationFinancial Management Principles and Applications Titman Keown Martin Twelfth Edition
Financial Management Principles and Applications Titman Keown Martin Twelfth Edition Pearson Education Limited Edinburgh Gate Harlow Essex CM20 2JE England and Associated Companies throughout the world
More informationGlobal Financial Markets
Global Financial Markets Global Financial Markets is a series of practical guides to the latest financial market tools, techniques and strategies. Written for practitioners across a range of disciplines
More informationGOVERNMENT DEFICIT AND FISCAL REFORM IN JAPAN
GOVERNMENT DEFICIT AND FISCAL REFORM IN JAPAN Research Monographs in Japan-V.S. Business & Economics series editors Ryuzo Sato Rama V. Ramachandran Stem School of Business New York University Kazuo Mino
More informationValuation: The Art and Science of Corporate Investment Decisions Sheridan Titman John Martin Second Edition
Valuation: The Art and Science of Corporate Investment Decisions Sheridan Titman John Martin Second Edition Pearson Education Limited Edinburgh Gate Harlow Essex CM20 2JE England and Associated Companies
More information