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Author:   Paolo Mauro (International Monetary Fund) ,  Nathan Sussman (The Hebrew University, and (CEPR)) ,  Yishay Yafeh (The Hebrew University, and (CEPR))
Publisher:   Oxford University Press
Imprint:   Oxford University Press
Dimensions:   Width: 14.50cm , Height: 1.80cm , Length: 22.40cm
Weight:   0.379kg
ISBN:  

9780199272693

ISBN 10:   0199272697
Pages:   208
Publication Date:   16 March 2006
Audience:   Professional and scholarly ,  Professional & Vocational
Format:   Hardback
Publisher's Status:   Active
Availability:   To order  
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Table of Contents

Table of Contents List of Tables List of Figures Preface and Acknowledgements 1: International Capital Flows in the Previous Era of Globalization: An Overview and Outline of the Book and its Objectives 2: The London Market for Sovereign Debt, 1870-1913 versus Today's Markets 3: The Determinants of the Cost of Capital: Case Study Evidence 4: News and Sharp Changes in Bond Spreads 5: Spreads, News, and Macroeconomics: A Multivariate Regression Analysis 6: Co-movement of Spreads: Fundamentals or Investor Behavior? 7: Sovereign Defaults and the Corporation of Foreign Bondholders 8: A Few Lessons for the Future Appendix 1: Emerging Market Bonds and Spreads, 1870-1913 Appendix 2: Macroeconomic Data Sources, 1870-1913 Bibliography

Reviews

The great economic histories, for example by Bairoch, Braudel, Cipolla, de Vries, and Pirenne, are full of detailed facts and broad ideas. Emerging Markets and Financial Globalization belongs to the same category (and on the same bookshelf) for a simple reason - like the classics, you cannot pick up this volume without learning or thinking something new. Sovereign bond spreads shed great light on both how the world used to operate and where it may now be headed. Simon Johnson, Kurtz Professor, Sloan School of Management, MIT This meticulous and imaginative study represents a real breakthrough for our understanding of pre-First World War financial 'globalization'...essential reading for anyone who wants to understand how internationally integrated bond markets functioned in what is sometimes called (perhaps misleadingly) the world economy's 'golden age'. Niall Ferguson, Laurence A. Tisch Professor of History, Harvard University

Author Information

Paolo Mauro is a Senior Economist in the Strategic Issues Division, Research Department at the IMF. He received his PhD from Harvard University in 1994 and is Editor of the quarterly IMF Research Bulletin. Nathan Sussman is Senior Lecturer in the Department of Economics at the Hebrew University of Jerusalem and Co-director of the Minerva Center. He received his PhD from the University of California, Berkeley in 1990. Yishay Yafeh is Senior Lecturer in the School of Business Administration and Department of East Asian Studies at the Hebrew University of Jerusalem. He was Associate Professor at the Department of Economics, University of Montreal and was Alon Lecturer of Economics and East Asian Studies, the Hebrew University. He is an Academic Consultant to the Bank of Israel Research Department.

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