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Global Environmental Politics: The Transformative Role of Emerging Economies
by Johannes UrpelainenEmerging economies have fundamentally transformed global environmental politics. Led by China and India, they increasingly make or break international negotiations, which now require agreement among a large number of governments with widely varied preferences. Emerging economies—which still suffer from widespread poverty and frequently struggle with policy implementation—often feel that Western-led initiatives neglect their needs. What does the global environmental policy landscape look like in the age of a rising Global South?This book explains why emerging economies have come to dominate global environmental politics and examines the implications for future international cooperation. Johannes Urpelainen shows that emerging economies continue to prioritize economic growth and often have limited institutional capacity to contain the environmental destruction that it causes. However, he argues, despite barriers to cooperation, innovative bargaining and institutional design offer a way forward. Bottom-up agreements that respect national sovereignty and invest in capacity building hold more promise than traditional top-down treaties with binding commitments.The book features detailed discussions of attempts to address hazardous chemicals, loss of biodiversity, and climate change; a comparative analysis of China and India; and case studies of nine other emerging economies around the world. Global Environmental Politics is an essential, forward-looking overview of today’s most pressing international issue.
A Global Environmental Right (Routledge Explorations in Environmental Studies)
by Stephen TurnerThe development of an international substantive environmental right on a global level has long been a contested issue. To a limited extent environmental rights have developed in a fragmented way through different legal regimes. This book examines the potential for the development of a global environmental right that would create legal duties for all types of decision-makers and provide the bedrock for a new system of international environmental governance. Taking a problem solving approach, the book seeks to demonstrate how straightforward and logical changes to the existing global legal architecture would address some of the fundamental root causes of environmental degradation. It puts forward a draft global environmental right that would integrate duties for both state and non-state actors within reformed systems of environmental governance and a rational framework for business and industry to adhere to in order that those systems could be made operational. It also examines the failures of the existing international climate change regime and explains how the draft global environmental right could remedy existing deficits. This innovative and interdisciplinary book will be of great interest to policy-makers, students and researchers in international environmental law, climate change, environmental politics and global environmental governance as well as those studying the WTO, international trade law, human rights law, constitutional law and corporate law.
Global Environmental Risk: Global Environmental Risk (Earthscan Risk in Society)
by Roger E. Kasperson Jeanne X. KaspersonDespite international initiatives such as the Earth Summit in 1992 and ongoing efforts to implement the Kyoto Protocol, human activities continue to register a destructive toll on the planetary environment. At root, research on global environmental risk seeks new pathways for reversing unsustainable trends, curtailing ongoing destructive activities, and creating a life-sustaining planet. This book takes stock of the distinctive challenges posed by global environmental risks, the capacity of knowledge systems to identify and characterize such risks, and the competence of human society to manage the unprecedented complexity. Particular attention trains on engaging, in ways conducive to enhancing social learning and adaptation, the large uncertainties inherent in these risks. Various chapters enlist different scales of analysis to explore the manifestation and causes of global environmental risks in all the diversity of their regional expression. Throughout, the editors and contributors accord prominence to the vulnerability of people and places to environmental degradation. Understanding vulnerability is a neglected key to assessing the nature of the risks and determining strategies for altering trajectories of threat. Global risk futures, the editors argue, are not intractable, and are still amenable to a risk-analysis enterprise that is democratic in principle, humanistic in concept, and geared to the realities that pertain to the particular societies, locales, and regions that will ultimately bear the risk.
Global Equity Markets: The Case of Royal Dutch and Shell
by Kenneth A. Froot Andre F. PeroldRoyal Dutch and Shell common stocks are securities with linked cash flow, so that the ratio of their stock prices should be fixed. In fact, the ratio is highly variable, moving with the markets where the securities are intensively traded. Royal Dutch trades more actively in the Netherlands and U.S. markets, whereas Shell trades more actively in the United States. The result is that the Royal Dutch/Shell relative price moves positively with the Netherlands and U.S. markets and negatively with the U.K. market. The ability to arbitrage these disparities and their causes are major case focal points.
Global Equity Selection Strategies
by Ross Paul BrunerFirst Published in 1999. Routledge is an imprint of Taylor & Francis, an informa company.
The Global Expatriate's Guide to Investing
by Andrew Hallam Scott BurnsExploit your offshore status to build a robust investment portfolioMost of the world's 200 million expats float in stormy seas. Few can contribute to their home country social programs. They're often forced to fend for themselves when they retire. The Global Expatriate's Guide to Investing is the world's only book showing expats how to build wealth overseas with index funds. Written by bestselling author, Andrew Hallam, it's a guide for everyone, no matter where they are from.Warren Buffett says you should buy index funds. Nobel prize winners agree.But dangers lurk. Financial advisors overseas can be hungry wolves. They don't play by the same set of rules. They would rather earn whopping commissions than follow solid financial principles. The Global Expatriate's Guide To Investing shows how to avoid these jokers. It explains how to find an honest financial advisor: one that invests with index funds instead of commission paying windfalls.You don't want an advisor? Fair enough. Hallam shows three cutting edge index fund strategies. He compares costs and services of different brokerages, whether in the U.S. or offshore. And he shows every nationality how to invest in the best products for them. Some people want stability. Some want strong growth. Others want a dash of both.This book also answers the following questions:How much money do I need to retire?How much should I be saving each month?What investments will give me both strong returns, and safety?The Global Expatriate's Guide To Investing also profiles real expats and their stories. It shows the mistakes and successes that they want others to learn from. It's a humorous book. And it demonstrates how you can make the best of your hard-earned money.
Global Explorers: The Next Generation of Leaders
by J. Stewart Black Allen J. Morrison Hal B. GregersenIn this age of globalization challenges--from economic uncertainty to emerging markets--there are no mapped out answers for the international manager. Global Explorers guides the global manager from the periphery to the center stage of international business leadership. In a 1997 survey of Fortune 500 firms conducted by authors J. Stewart Black, Allen J. Morrison and Hal B. Gregersen, virtually all companies indicated there was a severe shortage of global leaders. The demand for competent global leaders far outstrips the supply. Global Explorers provides the skills and outlines the competencies future global managers need to fill the leadership gap. Using extensive research, real-life examples, and 130 in-depth interviews with senior executives representing 50 global companies, including IBM, Disney, Exxon and Sony, Global Explorers suggests the reasons for the global leadership shortage, and identifies the necessary skills to compete in the international marketplace. For managers who want to safeguard their corporate future in these changing times, Global Explorers will help them develop a personal program for developing and balancing the skills they need to become successful global leaders.
Global Family Office Investing: Exploring the Practices of Single- and Multi-Family Offices
by Chad HaganFamily offices are currently the most attractive group of investors and their structure is more permanent that many of the world’s strongest companies. They are the next hedge funds of the world, if not more. The family office is at the backbone of global commerce, primarily from permanent capital, which results in a different system of management and investing, a hybrid that combines families directly investing in companies to diversify or to build current portfolios with customized returns on investment, vastly different investment goals and investment time frames. While “family office” is a new term for many in the industry, the basis and framework behind the family office has existed for more than 500 years. It is wildly important for this system of investing to be understood. In the past decade, billions in profits have been made in technology, let alone other industries, and most of these fortunes will find themselves managed by a family office of sorts. They are also competitors with one another and at times highly influential in the ways of wealth management, wealth creation and associated practices. This book offers a global snapshot of family offices, using case studies of family offices like the Rockefeller’s “Room 5600” and covers important direct investment styles of family offices—all supported by hard research and statistics from intelligence partners covering family office investing extensively. It will be of interest to anyone in finance, wealth management, management consulting, market research and investing as a whole. Diving headfirst into the practice of family offices and family office structures, Global Family Office Investing covers the secretive world of family offices around the world, sharing best practices, the culture, history and future of modern global family offices.
The Global Film Market Transformation in the Post-Pandemic Era: Production, Distribution and Consumption (China Perspectives)
by Qiao Li David Wilson Yanqiu GuanThis book reviews the development and performance of the global film industry during the COVID-19 pandemic and examines new trends in film production, distribution and consumption through a global lens. The COVID-19 pandemic has had a substantial impact on the global film industry since the beginning of 2020. There has been significant transformation in terms of film production, distribution and consumption. Hollywood, like many national cinemas across the globe, has suffered the most significant impact at all levels: the interruption of new film productions, shutdowns of movie theatres in many countries and delays in the release of new films, among them. Many movies made for cinemas were forced to move from release in theatres to various streaming platforms, and nontraditional production companies continued to grow their market share. This book places the global film industry in a post-Pandemic context. It provides detailed analyses of specific systems of film production, distribution and consumption in national cinemas, as well as in Hollywood, while also engaging with the key theoretical and methodological questions from the film studies literature. This volume is a critical reference for students and scholars of film studies and general readers who are interested in the new trends and transformation of the global film industry in a post-Pandemic era.
Global Finance (Shortcuts)
by Robert J. HoltonWritten under the shadow of the global financial crisis, this book charts the current shape of global finance and tries to explain why the crisis arose – and what can be done about it. Economics alone cannot fully explain how global finance operates, and why it is so crisis prone. Global Finance offers a wider approach in three key ways, by: setting markets and financial market failure in a historical context bringing politics and culture back into the analysis of global finance drawing on the latest thinking by sociologists of economic life. With a convincing argument for better regulation of markets, Robert Holton provides a fascinating insight into the volatile and often misunderstood world of global finance. This is a key text for undergraduate students of sociology, economics, business, and politics, as well as being an incisive, informative read for anyone with an interest in this topical issue.
Global Finance and Development (Routledge Perspectives on Development)
by David HudsonThe question of money, how to provide it, and how to acquire it where needed is axiomatic to development. The realities of global poverty and the inequalities between the ‘haves’ and the ‘have-nots’ are clear and well documented, and the gaps between world’s richest and the world’s poorest are ever-increasing. But, even though funding development is assumed to be key, the relationship between finance and development is contested and complex. This book explores the variety of relationships between finance and development, offering a broad and critical understanding of these connections and perspectives. It breaks finance down into its various aspects, with separate chapters on aid, debt, equity, microfinance and remittances. Throughout the text, finance is presented as a double-edged sword: while it is a vital tool towards poverty reduction, helping to fund development, more critical approaches remind us of the ways in which finance can hinder development. It contains a range of case studies throughout to illustrate finance in practice, including, UK aid to India, debt in Zambia, Apple’s investment in China, microfinance in Mexico, government bond issues in Chile, and financial crisis in East Asia. The text develops and explores a number of themes throughout, such as the relationship between public and private sources of finance and debates about direct funding versus the allocation of credit through commercial financial markets. The book also explores finance and development interactions at various levels, from the global structure of finance through to local and everyday practices. Global Finance and Development offers a critical understanding of the nature of finance and development. This book encourages the reader to see financial processes as embedded within the broader structure of social relationships. Finance is defined and demonstrated to be money and credit, but also, crucially, the social relationships and institutions that enable the creation and distribution of credit and the consequences thereof. This valuable text is essential reading for all those concerned with poverty, inequality and development.
Global Finance, Cases and Notes (Routledge Revivals)
by Francisco Carrada-BravoPublished in 1999, this text aims to target International Finance and give the basic currency markets: the eurocurrency, the spot, the forward, the futures, and the options markets. It focuses on global financial management, foreign exchange markets, exchange rate determination, financing globalization, managing echange rate exposure, arbitrage and swaps, financing international trade, and the international monetary systems. It includes case studies at the end of each chapter.
Global Finance in Crisis: The Politics of International Regulatory Change (Routledge Studies in Globalisation)
by Eric HelleinerFrom the vantage point of the key powers in global finance including the United States, the European Union, Japan, and China, this highly accessible book brings together leading scholars to examine current changes in international financial regulation. They assess whether the flurry of ambitious initiatives to improve and strengthen international financial regulation signals an important turning point in the regulation of global finance. The text: Examines the kinds of international reforms have been implemented to date and patterns of international regulatory change. Provides an analysis of change across a number of financial sectors, including the regulation of hedge funds, derivatives, credit rating agencies, accounting, and banks. Offers an explanation of contemporary regulatory developments with reference to inter-state power dynamics, domestic politics, transgovernmental networks, and/or transnational non-state forces. Providing the first systematic analysis of the international regulatory response to the current global financial crisis, this ground-breaking volume is vital reading for students and scholars of international political economy, international relations, global governance, finance and economics.
Global Finance in Emerging Market Economies (Routledge International Studies in Money and Banking)
by Todd KnoopEmerging market economies have accounted for three quarters of world economic growth and more than half of world output over the last decade. But the energy and ideas inherent in emerging economies cannot generate growth by themselves without resources to support them — and first among these resources is money which is needed to purchase the capital and knowhow that turn ideas and initiative into income. How do emerging economies rich in resources other than money get money? This question encapsulates what emerging market finance is all about, and why finance is absolutely crucial to economic development. In emerging countries, most of the population does not have access to bank accounts or financial markets to save or borrow. The result is that many firms cannot get access to financial resources to grow, while households cannot borrow and save in ways that could reduce the riskiness and poverty of their lives. Even those that do have access to formal finance find that credit is unreliable and expensive. These financial failures limit growth and also increase the frequency of costly financial crises. These issues, and many more like them, mean that finance in emerging economies is different and often more complex than the view presented in most textbooks, where finance is only considered from the perspective of wealthy, developed economies. This book addresses this failure by focusing on the important characteristics of financial systems in emerging market economies and their differences from those in developed countries. This book surveys both theoretical and empirical research on finance in emerging economies, as well as reviewing numerous case studies. The final chapters describe and compare financial systems within the four different regions that encompass most emerging economies: Sub-Saharan Africa, the Middle East, Asia, and South America.
Global Finance in the 21st Century: Stability and Sustainability in a Fragmenting World (Routledge Research in Finance and Banking Law)
by Steve KourabasGlobal Finance in the 21st Century: Stability and Sustainability in a Fragmenting World explains finance and its regulation after the global financial crisis. The book introduces non-finance scholars into the wider debate regarding the conduct and regulation of finance to encourage broader discussion on important societal issues that relate to finance. The book also explores the ineffectiveness of the current approach to global prudential governance and places this discussion within the more expansive context of global governance and nationalism in the twenty-first century. The book argues that fragmentation and the growing trend of promoting informality and voluntarism has facilitated a return to nationalism as a primary form of global governance that acts contrary to post-crisis reforms that seek to promote stability and sustainability in the conduct of finance. As a remedy, Kourabas suggests that we need more, not less, of what we have traditionally conceived as international law – treaties and treaty-based international organisations. In the field of finance, this means not only pursuing financial liberalisation through free trade and investment treaties, but also the inclusion of provisions in these treaties that promotes systemic financial stability and sustainable development objectives. Of interest to legal and non-legal academics and students, legal professionals and policy-makers, this book offers a nuanced defence of international law as an approach to global governance in finance and beyond, as well as reform of international law to meet the needs of twenty-first century society.
Global Finance, Local Control: Corruption and Wealth in Contemporary Russia (Cornell Studies in Money)
by Igor O. LogvinenkoExploring Russia's reentry into global capital markets at the dawn of the twenty-first century, Global Finance, Local Control shows how economic integration became deeply entangled with a bare-knuckled struggle for control over the vestiges of the Soviet empire. 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.
Global Financial Centers, Economic Power, and (In)Efficiency
by Fikret ČauševićThis book scrutinizes global financial flows and stocks, both financial assets and liabilities and their impact on the global balance of economic power, especially as they affect the largest and fastest-growing countries in both the developed and the developing world. It shows how financial flows can promote economic growth and financial capital can serve as a tool for higher growth rates in emerging market economies, but also that the huge amounts of financial capital currently being spent in advanced countries to promote economic growth has produced at best very modest improvements and in some cases negative results.The book opens with an analysis of global capital flows and their concentration. It then offers an analysis of rates of relative economic growth (or decline). The final section deals with the (decreasing) economic efficiency of financial flows and the (un)sustainability of economic growth, especially during the past eight years of economic recovery. Tackling one of the most serious problems in the global economy today, this book will be of interest to academics, researchers, and students of capital markets, financial crisis, and financial economics.
Global Financial Contagion
by Shalendra D. SharmaThis book is an authoritative account of the economic and political roots of the 2008 financial crisis. It examines why it was triggered in the United States, why it morphed into the Great Recession, and why the contagion spread with such ferocity around the globe. It also examines how and why economies - including the Eurozone, Russia, China, India, East Asia, and the Middle East - have been impacted and explores their response to the unprecedented challenges of the crisis and the effectiveness of their policy measures. Global Financial Contagion specifically looks at how the Obama administration's policy missteps have contributed to America's huge debt and slow recovery, why the Eurozone's response to its existential crisis has become a never-ending saga, and why the G-20's efforts to create a new international financial architecture may fall short. This book will long be regarded as the standard account of the crisis and its aftermath.
Global Financial Crises and Reforms: Cases and Caveats (Routledge Studies In The Modern World Economy Ser. #No.27)
by B. N. GhoshThis is an innovative collection of papers written by a panel of highly respected academics and financial experts. Whilst providing an insight into the phenomenology of the financial crises of the 1990s in Asia and Latin America, the book also explores possibilities for their solution.
The Global Financial Crisis: Triggers, Responses and Aftermath
by Tony CiroThis book offers commentary and analysis on the catastrophic events which have recently confronted the international economy in the modern era and contrasts the current situation with other financial crises. It includes case studies on Lehman Brothers in the US, Babcock & Brown in Australia, and Northern Rock in the UK. Asking many pertinent questions about the causes of the crisis and its effects, the book explores fundamental themes such as: asset bubbles and speculation in the financial and non-financial markets, systemic risks and the role of regulation, and regulators. It also reviews the response of international institutions such as the IMF, the World Bank, the US Federal Reserve, the EU Central Bank and the G20. The book assesses the triggers of the crisis and evaluates rescue packages and policy responses as well as suggesting reform of regulatory and supervisory frameworks to maintain banking and modern financial systems in the future.
Global Financial Crisis: The Ethical Issues
by Ned DobosThe Global Financial Crisis is acknowledged to be the most severe economic downturn since the 1930s, and one that is unique in its underlying causes, its scope, and its wider social, political and economic implications. This volume explores some of the ethical issues that it has raised.
The Global Financial Crisis: Genesis, Policy Response and Road Ahead
by Satyendra NayakThe Financial Crisis, though originating in the US, is global and comparable with the Great Depression of the 1930s. The book takes both micro and macro view of the crisis. It examines the evolution of the global monetary system and looks at the crisis from a systemic angle. It examines the institutional changes in American capitalism and market mechanisms. The dynamics of the market and its cyclical characters are discussed. It examines the structural changes in the US economy. The role of globalization and international funds flow, their changing character and the growing interdependence among nations have been examined. At the micro level, the book discusses the subprime market and the gaps in the system that created the crisis. It deals with the supervisory structure and growing influence of the derivatives market and the synthetic products that are threatening the financial system. It also analyzes the fundamental changes in the global trading and payments patterns, which are influencing the US balance of payments and the US dollar. The secular changes in the structure of the US economy are impacting the global economy. The work deals with the measures taken to resolve the crisis both in the US and on a global scale. The reforms necessary to avoid the recurrence of the crisis are outlined. The study aims to underline these factors and draw a perspective for the US dollar. It is also proposed to draw a scenario for a more efficient and equitable global monetary system with a role for the US dollar along with a new vehicle for international payments and finance. This would also include the reform of the global economic system and the IMF. The special feature of the book is that it takes a holistic view of the problem. The systemic and macro issues are discussed in addition to its microanalysis.
Global Financial Crisis: Global Impact and Solutions (Global Finance)
by Paolo Savona Chiara OldaniOut of the debate over the effectiveness of the policy responses to the 2008 global financial crisis as well as over the innovativeness of global governance comes this collection by leading academics and practitioners who explore the dynamics of economic crisis and impact. Edited by Paolo Savona, John J. Kirton, and Chiara Oldani Global Financial Crisis: Global Impact and Solutions examines the nature of the recent crisis, its consequences in major regions and countries, the innovations in the ideas, instruments and institutions that constitute national and regional policy responses, building on the G8's response at its L'Aquila Summit. Experts from Africa, North America, Asia and Europe examine the implications of those responses for international cooperation, coordination and institutional change in global economic governance, and identify ways to reform and even replace the architecture created in the mid 20th century in order to meet the global challenges of the 21st.
The Global Financial Crisis
by Mark P. Taylor Richard H. ClaridaThe global financial crisis has sent shockwaves through the world’s economies, and its effects have been deep and wide-reaching. This book brings together a range of applied studies, covering a range of international and regional experience in the area of finance in the context of the global downturn.The volume includes an exploration of the impact of the crisis on capital markets, and how corporate stakeholders need to be more aware of the decision-making processes followed by corporate executives, as well as an analysis of the policy changes instituted by the Fed and their effects. Other issues covered include research into the approach of solvent banks to toxic assets, the determinants of US interest rate swap spreads during the crisis, a new approach for estimating Value-at-Risk, how distress and lack of active trading can result in systemic panic attacks, and the dynamic interactions between real house prices, consumption expenditure and output. Highlighting the global reach of the crisis, there is also coverage of recent changes in the cross-currency correlation structure, the costs attached to global banking financial integration, the interrelationships among global stock markets, inter-temporal interactions between stock return differential relative to the US and real exchange rate in the two most recent financial crises, and research into the recent slowdown in workers’ remittances.This book was published as a special issue of Applied Financial Economics.
The Global Financial Crisis: From US subprime mortgages to European sovereign debt
by George K. ZestosAlthough banking and sovereign debt crises are not unusual, the crisis that has unfolded across the world since 2007 has been unique in both its scale and scope. It has also been unusual in being both triggered by, and mainly affecting, developed economies. Starting with the US subprime mortgage crisis, and the recession in 2007-2009, the problem soon erupted into financial crisis in Europe. A few of these countries came to the brink of bankruptcy, and were rescued by the EU and the IMF on the condition they adopt austerity measures. The detrimental social effects of the crisis in both the US and Europe are still emerging. Although there have been several studies published on the US crisis in particular, there has so far been an absence of an accessible comparative overview of both crises. This insightful text aims to fill this gap, offering a critical overview of causes, policy responses, effects and future implications. Starting with the historical context and mutation of the crisis, the book explores the policies, regulations, and governance reforms that have been implemented to cope with the US subprime mortgage crisis. A parallel analysis considers the causes of the European sovereign debt crisis and the responses of the European Union (EU), examining why the EU is as yet unable to resolve the crisis. This book is supported with eResources that include essay questions and class discussion questions in order to assist students in their understanding. This uniquely comprehensive and readable overview will be of interest and relevance to those studying financial crises, financial governance, international economics and international political economy.