The Resource Banking on markets : the transformation of bank-state ties in Europe and beyond, Rachel A. Epstein

Banking on markets : the transformation of bank-state ties in Europe and beyond, Rachel A. Epstein

Label
Banking on markets : the transformation of bank-state ties in Europe and beyond
Title
Banking on markets
Title remainder
the transformation of bank-state ties in Europe and beyond
Statement of responsibility
Rachel A. Epstein
Creator
Subject
Language
eng
Summary
States and banks have traditionally maintained close ties. At various points in time, states have used banks to manage their economies and soak up government debt, while banks enjoyed regulatory forbearance, restricted competition, and implicit or explicit guarantees from their home markets. The political foundations of banks have thus been powerful and enduring, with actors on both sides of the aisle reluctant to sever relations. The central argument of this book, however, is that in the world's largest integrated market, Europe, the traditional political ties between states and banks have been transformed. Specifically, through a combination of post-communist transition, monetary union, and economic crisis, states in Europe no longer wield preponderant influence over their banks. Banking on Markets explains why we have witnessed the radical denationalization of this politically vital sector, as well as the consequences for economic volatility and policy autonomy. The findings in Europe have implications for other world regions, which, to varying degrees, have also experienced intensified pressure on their traditional models of domestic political control over finance. Through an investigation of foreign bank behavior in economic crises, the developmental consequences of political control over banks and the emergence of European Banking Union in the Eurozone, the book advances three main findings. First is that foreign bank ownership need not necessarily lead to economic vulnerability of host states. Second is that marketized bank-state ties do, however, limit pathways to catching up in the global economy. And third is that European Banking Union has strengthened the euro's credibility while cutting down substantially on Eurozone member states' economic policy discretion. This book details the intense political struggles that have underpinned all three outcomes.--
Assigning source
Provided by Publisher
Cataloging source
YDX
http://library.link/vocab/creatorDate
1970-
http://library.link/vocab/creatorName
Epstein, Rachel A.
Dewey number
322.3094
Index
index present
Literary form
non fiction
Nature of contents
bibliography
http://library.link/vocab/subjectName
  • Banks and banking
  • Banks and banking, International
  • Banks and banking
  • Financial crises
Label
Banking on markets : the transformation of bank-state ties in Europe and beyond, Rachel A. Epstein
Instantiates
Bibliography note
Includes bibliographical references and index
Carrier category
volume
Carrier category code
nc
Carrier MARC source
rdacarrier
Content category
text
Content type code
txt
Content type MARC source
rdacontent
Control code
on1001266301
Dimensions
25 cm
Extent
xvi, 214 pages
Media category
unmediated
Media MARC source
rdamedia
Media type code
n
System control number
(OCoLC)982093017
Label
Banking on markets : the transformation of bank-state ties in Europe and beyond, Rachel A. Epstein
Bibliography note
Includes bibliographical references and index
Carrier category
volume
Carrier category code
nc
Carrier MARC source
rdacarrier
Content category
text
Content type code
txt
Content type MARC source
rdacontent
Control code
on1001266301
Dimensions
25 cm
Extent
xvi, 214 pages
Media category
unmediated
Media MARC source
rdamedia
Media type code
n
System control number
(OCoLC)982093017

Library Locations

    • Badia FiesolanaBorrow it
      Via dei Roccettini 9, San Domenico di Fiesole, 50014, IT
      43.803074 11.283055
Processing Feedback ...