Name: Financial Innovations in International Debt Management: An Institutional Analysis (en Inglés)
Price: 1256.85 MXN
Availability: InStock
Author: Berger, Walter
ISBN: 9783409137331

Envío gratis

portada Financial Innovations in International Debt Management: An Institutional Analysis (en Inglés)

Formato

Libro Físico

Autor

Walter Berger

Editorial

Gabler Verlag

Idioma

Inglés

N° páginas

166

Encuadernación

Tapa Blanda

Dimensiones

24.4 x 17.0 x 1.0 cm

Peso

0.31 kg.

ISBN13

9783409137331

Categorías

Macroeconomía
Finanzas
Jardinería

Financial Innovations in International Debt Management: An Institutional Analysis (en Inglés)

Walter Berger (Autor) · Gabler Verlag · Tapa Blanda

Libro Nuevo

$ 1,256.85

$ 2,285.19

Ahorras: $ 1,028.34

45% descuento

Envío normal

Origen: Estados Unidos (Costos de importación incluídos en el precio)

Se enviará desde nuestra bodega entre el Martes 30 de Julio y el Miércoles 07 de Agosto.

Lo recibirás en cualquier lugar de México entre 1 y 3 días hábiles luego del envío.

Reseña del libro "Financial Innovations in International Debt Management: An Institutional Analysis (en Inglés)"

The international debt problem has already generated a huge number of publications. Why then another publication? Many publications address macroeconomic implications of the debt problem, others investigate special new financing instruments such as debt equity swaps, others discuss the economic or legal aspects of debt reschedulings. This work of Walter Berger concentrates on the evolution of the financial side of the debt problem. This evolution is fascinating since it reveals a continuous expansion of the financial instruments being used and a surprising change in intercreditor relationships. While in the seventies equal treatment of creditors was not of much concern, this changed dramatically in the eighties. But lately equal treatment turned out to be a strong impediment to the creditors' management of loan portfolios. Hence, inequality of treatment is growing again. This development represents a challenge to everyone who tries to explain legal changes by using economic theory. Another characteristic of Walter Berger's work is that he starts from a broad institutional perspective. Most economists analyze the debt problem by assuming a world where everybody follows the same principles of rationality and optimization. Walter Berger questions this approach by arguing that cultural discrepancies among creditor countries and indebted countries make it difficult to define efficiency by "Western" standards only. Moreover, different cultures create what Berger calls "institutional obfuscation", that is, creditors have substantial difficulties to predict the behavior of differently minded debtors, and vice versa. This lack of information creates a transaction risk for each contracting party.