{"title":"Cornell Studies In Money","description":"\u003cp\u003eDelve into the world of finance and economics with the Cornell Studies in Money series. Explore diverse perspectives on monetary policy, financial markets, and more. A must-read for students and professionals alike.\u003c\/p\u003e","products":[{"product_id":"tax-havens-book-ronen-palan-9780801476129","title":"Tax Havens","description":"This book provide an up-to-date evaluation of the role and function of tax havens in the global financial systemtheir history, inner workings, impact, extent, and enforcement. 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In 1919 and 1920, as Japan, Great Britain, and the United States adopted deflation policies, the results of cooperation were realized in the world’s first globally coordinated program of monetary policy. It was also in 1920 that Wall Street bankers moved to establish closer ties with Tokyo. Bytheway and Metzler tell the story of how the first age of central-bank power and pride ended in the disaster of the Great Depression, when a rush for gold brought the system crashing down. In all of this, we see also the quiet but surprisingly central place of Japan. 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The international rules that allow tax avoidance by multinational corporations have dominated political debate about international tax in the United States and Europe, especially since the global financial crisis of 2007–2008.   Hearson asks how developing countries willingly gave up their right to tax foreign companies, charting their assimilation into an OECD-led regime from the days of early independence to the present day. Based on interviews with treaty negotiators, policymakers and lobbyists, as well as observation at intergovernmental meetings, archival research, and fieldwork in Africa and Asia, Imposing Standards shows that capacity constraints and imperfect negotiation strategies in developing countries were exploited by capital-exporting states, shielding multinationals from taxation and depriving nations in the Global South of revenue they both need and deserve.   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As the comfortable certainties of the past collapse around them, today’s central bankers in the postcommunist world and beyond find themselves torn between allegiance to their transnational community and its principles on the one hand and their increasingly complex and politicized national roles on the other. 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Sinclair brings the shadowy corners of this story to life by examining congressional testimony, showing how the wheels of accountability turned—and ultimately failed—during the crisis. He asks how and why the agencies risked their lucrative franchise by aligning so closely with a process of financial innovation that came undone during the crisis. What he finds is that key institutions, including the agencies, changed from being judges to being advocates years before the crisis, eliminating a vital safety valve meant to hinder financial excess.    Sinclair's well-researched investigation offers a clear, accessible explanation of structured finance and how it works. 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Igor Logvinenko reveals how the post-communist Russian economy became a full-fledged participant in the international financial sector without significantly improving the local rule of law.   By the end of Vladimir Putin's second presidential term, Russia was more integrated into the global financial system than at any point in the past. However, the country's longstanding deficiencies—including widespread corruption, administration of justice, and an increasingly overbearing state—continued unabated. Scrutinizing stock-market restrictions on foreign ownership during the first fifteen years of Russia's economic transition, Logvinenko concludes that financial internationalization allowed local elites to raise capital from foreign investors while maintaining control over local assets. They legitimized their wealth using Western institutions, but they did so on their terms.   Global Finance, Local Control delivers a somber lesson about the integration of emerging markets: without strong domestic rule-of-law protections, financial internationalization entrenches oligarchic capitalism and strengthens authoritarian regimes.","brand":"WoB","offers":[{"title":"- \/ - \/ -","offer_id":50977517732113,"sku":"","price":0.0,"currency_code":"GBP","in_stock":true},{"title":"US \/ VERY_GOOD \/ SBYB","offer_id":50977519534353,"sku":"CIN1501759604VG","price":0.0,"currency_code":"GBP","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0784\/4072\/6801\/files\/1501759604.jpg?v=1758968780"},{"product_id":"england-s-cross-of-gold-book-james-a-morrison-9781501758423","title":"England's Cross of Gold","description":"In England's Cross of Gold, James Ashley Morrison challenges the conventional view that the UK's ruinous return to gold in 1925 was inevitable. Instead, he offers a new perspective on the struggles among elites in London to define and redefine the gold standard—from the first discussions during the Great War; through the titanic ideological clash between Winston Churchill and John Maynard Keynes; to the final, ill-fated implementation of the \"new gold standard.\"   Following World War I, Churchill promised to restore the ancient English gold standard—and thus Britain's greatness. Keynes portended that this would prove to be one of the most momentous—and ill-advised—decisions in financial history. From the vicious peace settlement at Versailles to the Great Depression, the gold standard was central to the worst disasters of the time. Economically, Churchill's move exacerbated the difficulties of repairing economies shattered by war. Politically, it set countries at odds as each endeavored to amass gold, sowing the seeds of further strife.   England's Cross of Gold, grounded in masterful archival research, reveals that these events turned crucially on the beliefs of a handful of pivotal policymakers. 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The volatility of capital movements across national borders has led many observers to argue for a reformed \"global financial architecture,\" a body of consistent rules and institutions to prevent financial crises. Yet regulators have a decidedly mixed record in their attempts to create global standards for the financial system. David Andrew Singer seeks to explain the varying pressures on regulatory agencies to negotiate internationally acceptable rules and suggests that the variation is largely traceable to the different domestic political pressures faced by regulators. In Regulating Capital, Singer provides both a theory of the effects of domestic pressures on international regulation and a detailed analysis of regulators' attempts at international rulemaking in banking, securities, and insurance. Singer addresses the complexities of global finance in an accessible style, and he does not turn away from the more dramatic aspects of globalization; he makes clear the international implications of bank failures and stock-market crashes, the rise of derivatives, and the catastrophic financial losses caused by Hurricane Katrina and the events of September 11.","brand":"WoB","offers":[{"title":"- \/ - \/ -","offer_id":51281737449745,"sku":"","price":0.0,"currency_code":"GBP","in_stock":true},{"title":"US \/ NEW \/ INGRAM","offer_id":51281738629393,"sku":"NIN9780801445255","price":0.0,"currency_code":"GBP","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0784\/4072\/6801\/files\/0801445256.jpg?v=1760176783"},{"product_id":"bankers-trust-book-aditi-sahasrabuddhe-9781501782589","title":"Bankers' Trust","description":"In Bankers' Trust, Aditi Sahasrabuddhe reveals a crucial element behind the resolution of global financial crises: trust between central bank leaders.      Central bank cooperation during global financial crises has been anything but consistent. While some crises are arrested with extensive cooperation, others are left to spiral. Going beyond explanations based on state power, interests, or resources, Sahasrabuddhe argues that central bank cooperation—or the lack thereof—often boils down to ties of trust, familiarity, and goodwill between bank leaders. These personal relations influence the likelihood of access to ad hoc, bilateral arrangements with more favorable terms.    Drawing on archival evidence and elite interviews, Sahasrabuddhe uncovers just how critical interpersonal trust between central bankers has been in managing global financial crises. She tracks the emergence of such relationships in the interwar 1920s, how they helped prop up the Bretton Woods system in the 1960s, and how they prevented the 2008 global financial crisis from turning into another Great Depression. When traditional signals of credibility fell short during these periods of crisis and uncertainty, established ties of trust between central bank leaders mediated risk calculations, alleviated concerns, and helped innovate less costly solutions.   Sahasrabuddhe challenges the idea that central banking is purely apolitical and technocratic. She pinpoints the unique transnational power central bank leaders hold as unelected figures who nonetheless play key roles in managing states' economies. 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Stephen Bell and Hui Feng argue that if the Chinese growth model drives how key economic sectors interact, no amount of incremental reform can have much impact on the financial system—meaningful reform can stem only from a revised growth model.   For a time after the global financial crisis, it appeared that the expansion of a more market-oriented shadow banking system might help sustain China's economic growth. Since around 2015, however, Xi Jinping's regime has reversed this trajectory and placed China's financial system under heavy state control, resulting in slowed economic development and skyrocketing national debt. China's market transition and economic rebalancing are now in doubt, as is the fate of the nation's economy. By pinpointing finance as a vital element of the growth model, Bell and Feng provide a convincing assessment of financial risks and the prospects for economic rebalancing in China.   Banking on Growth Models demystifies the world of Chinese banking and finance as it investigates an ever-rising national debt, a declining rate of economic growth, and the possibility of dire and drastic reform by the Asian superpower's government.","brand":"WoB","offers":[{"title":"- \/ - \/ -","offer_id":51720691056913,"sku":"","price":0.0,"currency_code":"GBP","in_stock":true},{"title":"US \/ GOOD \/ SBYB","offer_id":51720692138257,"sku":"CIN1501762524G","price":0.0,"currency_code":"GBP","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0784\/4072\/6801\/files\/1501762524.jpg?v=1758967289"},{"product_id":"ruling-capital-book-kevin-p-gallagher-9780801453113","title":"Ruling Capital","description":"In Ruling Capital, Kevin P. Gallagher demonstrates how several emerging market and developing countries (EMDs) managed to reregulate cross-border financial flows in the wake of the global financial crisis, despite the political and economic difficulty of doing so at the national level. Gallagher also shows that some EMDs, particularly the BRICS coalition, were able to maintain or expand their sovereignty to regulate cross-border finance under global economic governance institutions. Gallagher combines econometric analysis with in-depth interviews with officials and interest groups in select emerging markets and policymakers at the International Monetary Fund, the World Trade Organization, and the G-20 to explain key characteristics of the global economy.    Gallagher develops a theory of countervailing monetary power that shows how emerging markets can counter domestic and international opposition to the regulation of cross-border finance. 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Rather than assume that transparency is the ultimate goal, Best argues, we must recognize that ambiguity is pervasive, substantive, and potentially constructive. To read this book is to comprehend more deeply the ways in which politics is fundamental to economic theory and practice and to understand why the economy requires political leadership in order to flourish.","brand":"WoB","offers":[{"title":"US \/ NEW \/ INGRAM","offer_id":52740089020689,"sku":"NIN9780801443190","price":0.0,"currency_code":"GBP","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0784\/4072\/6801\/files\/9780801443190.jpg?v=1763481269"},{"product_id":"latecomer-s-rise-book-muyang-chen-9781501786877","title":"The Latecomer's Rise","description":"In The Latecomer's Rise, Muyang Chen reveals the nature and impact of a rapidly growing form of international lending: Chinese development finance.  Over the past few decades, China has become the world's largest provider of bilateral development finance. Through its two national policy banks, the China Development Bank (CDB) and the Export-Import Bank of China (China Exim), it has funded infrastructure and industrial projects in numerous emerging markets and developing countries. Yet this very surge and magnitude of capital has raised questions about the characteristics of Chinese bilateral lending and its repercussions on the international order.   Drawing on a variety of novel Chinese primary sources, including interviews and official bank documents, Chen pinpoints the distinctiveness of Chinese bilateral development finance, explains its origins, and analyzes its effects. She compares Chinese policy banks with their foreign counterparts to show that the CDB and China Exim, while state-supported, are in fact also market-oriented - they are as much government organs as they are profit-driven financial agencies that serve both state and firms' interests. This approach, which emerged out of China's particular economic history, suggests that Chinese overseas lending is not merely a tool of economic statecraft that challenges Western-led economic regimes. Instead, China's responses to extant rules, norms, and practices across given issue areas have varied between contestation and convergence.  Rich with empirical detail and penetrating insights, The Latecomer's Rise demystifies the little-known workings of Chinese development finance to revise our conceptions of China's role in the international financial system.","brand":"WoB","offers":[{"title":"- \/ - \/ INTERNAL","offer_id":53005729562897,"sku":null,"price":0.0,"currency_code":"GBP","in_stock":true},{"title":"GB \/ NEW \/ GARDNERS","offer_id":53005730218257,"sku":"NGR9781501786877","price":0.0,"currency_code":"GBP","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0784\/4072\/6801\/files\/9781501786877.jpg?v=1775214580"}],"url":"https:\/\/www.worldofbooks.com\/collections\/cornell-studies-in-money-book-series.oembed","provider":"World of Books ","version":"1.0","type":"link"}