This book presents a radically different argument for what has caused, and likely will continue to cause, the collapse of emerging market economies. Pettis combines the insights of economic history, economic theory, and finance theory into a comprehensive model for understanding sovereign liability management and the causes of financial crises. He examines recent financial crises in emerging market countries along with the history of international lending since the 1820s to argue that the process of international lending is driven primarily by external events and not by local politics and/or economic policies. He draws out the corporate finance implications of this approach to argue that most of the current analyses of the recent financial crises suffered by Latin America, Asia, and Russia have largely missed the point. He then develops a sovereign finance model, analogous to corporate finance, to understand the capital structure needs of emerging market countries. Using this model, he finally puts into perspective the recent crises, a new sovereign liability management theory, the implications of the model for sovereign debt restructurings, and the new financial architecture. Bridging the gap between finance specialists and traders, on the one hand, and economists and policy-makers on the other, The Volatility Machine is critical reading for anyone interested in where the international economy is going over the next several years.

Product Description:

Volatility Machine

"About this title" may belong to another edition of this title.

Store Description

Pulpfiction Books is one of Western Canada's largest independent bookstores. We maintain a basic stock of approximately 100,000 titles in three different Vancouver neighborhood locations and most days see several hundred new books added to the shelves. In addition to full runs of reading copies by most major science fiction, fantasy, and mystery authors, we carry a wide assortment of contemporary fiction, literature, books on art, architecture, cultural studies, philosophy, science, music, travel writing, cookbooks, poetry, drama, and most other major subject fields. We travel regularly throughout North America, sourcing rare and hard-to-find titles. We buy books every day. No appointment is ever required to sell books to us. While the bulk of our purchases consists of recent trade and mass market fiction and nonfiction, we are always interested in purchasing antiquarian stock, particularly in the visual arts, architecture, and Northwest Coast art and literature. Our shop website, www.pfbvan.ca, gives more details about how we make our buying decisions.

Visit Seller's Storefront

Seller's business information

Pulpfiction Books
BC, Canada

Terms of Sale:

All of our titles are subject to prior sale. We guarantee our books' printing histories and physical condition to be accurately described in our online listings. If problems occur, we will promptly issue a cash refund for an item's full purchase price plus initial shipping charge, once the item(s) have been safely returned to us.

Shipping Terms:

Shipping costs are based on books weighing 2.2 LB, or 1 KG. If your book order is heavy or oversized, we may contact you to let you know extra shipping is required.

Payment Methods
accepted by seller

Add to Wants

Items related to The Volatility Machine: Emerging Economics and the...

The Volatility Machine: Emerging Economics and the Threat of Financial Collapse

Pettis, Michael

Used - Hardcover

Seller's business information