Financialization and Government Borrowing Capacity in Emerging Markets PDF
by I. Hardie
Part of the International Political Economy Series series
Description
How much can governments borrow? In practice, government debt levels vary markedly relative to the size of their economies.
Some countries face a debt crisis, and, as a result, face the need to cut spending or raise taxes, at half the level of indebtedness of others.
Hardie explains this difference by focusing on three emerging markets: Brazil, Lebanon and Turkey.
He highlights the nature of the investor base as central to borrowing capacity.
Based on interviews with 126 financial market actors, he considers financial markets in a detail rarely seen in political economy studies.
Hardie argues that increased financialization decreases government borrowing capacity, and shows how increasing the ability of investors to trade risk -- increasing financialization -- decreases, rather than increases, the ability of emerging market governments to borrow on a sustainable basis.
Information
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Download - Immediately Available
- Format:PDF
- Pages:232 pages, 16 black & white tables, 3 figures
- Publisher:Palgrave Macmillan
- Publication Date:16/03/2012
- Category:
- ISBN:9780230370265
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Information
-
Download - Immediately Available
- Format:PDF
- Pages:232 pages, 16 black & white tables, 3 figures
- Publisher:Palgrave Macmillan
- Publication Date:16/03/2012
- Category:
- ISBN:9780230370265
