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Description
Financial Crises, Liquidity, and the International Monetary SystemCondition: BRAND NEW ISBN: 9780691167046 Format: Trade paperback (US) Year: 2015 Publisher: Princeton University Press Description: Once upon a time, economists saw capital account liberalization the free and unrestricted flow of capital in and out of countries as unambiguously good. Good for debtor states, good for the world economy. No longer. Spectacular banking and currency crises in recent decades have shattered the consensus. In this remarkably
Condition: BRAND NEWISBN: 9780691167046
Format: Trade paperback (US)
Year: 2015
Publisher: Princeton University Press
Description:
Once upon a time, economists saw capital account liberalization--the free and unrestricted flow of capital in and out of countries--as unambiguously good. Good for debtor states, good for the world economy. No longer. Spectacular banking and currency crises in recent decades have shattered the consensus. In this remarkably clear and pithy volume, one of Europe's leading economists examines these crises, the reforms being undertaken to prevent them, and how global financial institutions might be restructured to this end. Jean Tirole first analyzes the current views on the crises and on the reform of the international financial architecture. Reform proposals often treat the symptoms rather than the fundamentals, he argues, and sometimes fail to reconcile the objectives of setting effective financing conditions while ensuring that a country "owns" its reform program. A proper identification of market failures is essential to reformulating the mission of an institution such as the IMF, he emphasizes. Next he adapts the basic principles of corporate governance, liquidity provision, and risk management of corporations to the particulars of country borrowing.
Building on a "dual- and common-agency perspective," he revisits commonly advocated policies and considers how multilateral organizations can help debtor countries reap enhanced benefits while liberalizing their capital accounts. Based on the Paolo Baffi Lecture the author delivered at the Bank of Italy, this refreshingly accessible book is teeming with rich insights that researchers, policymakers, and students at all levels will find indispensable.
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★★★★★ 5
Very good product.
Size: 6 Ft, Color: Black
The item is great, and low profile. Putting the very connections you need, right where you need them.
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Reviewed in the United States on September 24, 2025
★★★★★ 5
Seems to be a good, quality product
Size: 6 Ft, Color: Black
Very nice to be able to plug in a tablet or other devices and use them without having to sit right next to an outlet
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Reviewed in the United States on July 19, 2025
★★★★★ 5
Does the job and fits in small place
Size: 6 Ft, Color: Black
Fits well on my night stand and does the job as advertised. All types of plugs fit at once.
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Reviewed in the United States on September 27, 2025
★★★★★ 4
Good.
Size: 6 Ft, Color: Black
Hard to look for the right spot for it. But still working good. Can charge several devices but slow charge.
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Reviewed in the United States on October 5, 2025
★★★★★ 5
Muy bueno lo recomiendo
Size: 6 Ft, Color: Black
Muy buena calidad de regletas para mesa de noche para conectar los teléfonos
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Reviewed in the United States on May 22, 2026
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