LEADER 06432oam 22010334a 450 001 9910956054703321 005 20251009142639.0 010 $a0-8157-5137-0 010 $a0-8157-3546-4 024 7 $a10.5040/9780815751373 035 $a(CKB)4100000006372526 035 $a(MiAaPQ)EBC5247359 035 $a(OCoLC)1033550447 035 $a(MdBmJHUP)muse66994 035 $a(Perlego)742359 035 $a(OCoLC)1033550447$z(OCoLC)1260323900$z(OCoLC)1262670141$z(OCoLC)1290036061$z(OCoLC)1372465898 035 $a(UkLoBP)BP9780815751373BC 035 $a(EXLCZ)994100000006372526 100 $a20180430d2018 uy 0 101 0 $aeng 135 $aurcnu|||||||| 181 $ctxt$2rdacontent 182 $cc$2rdamedia 183 $acr$2rdacarrier 200 10$aIn Good Times Prepare for Crisis $eFrom the Great Depression to the Great Recession: Sovereign Debt Crises and Their Resolution /$fIra W. Lieberman 205 $a1st ed. 210 1$aWashington, D.C. :$cBrookings Institution Press,$d[2018] 210 2$aNew York :$cBloomsbury Publishing(US),$d2018. 215 $a1 online resource (554 pages) 311 08$a0-8157-3534-0 320 $aIncludes bibliographical references and index. 327 $aHistorical context: the export of capital, 1815-1914 -- External financing during the interwar period and the Great Depression, 1919-39 -- Private market lending -- Debt service disruptions -- International relations and interwar external sovereign debts -- External sovereign debt, syndicated bank loans, and sovereign debt and crises in developing countries, 1955-94 -- Flow of external capital to the developing world after World War II, 1955-73 -- From petrodollar recycling to debt recycling, syndicated bank loans, and sovereign crises, 1974-83 -- Debt service disruption and bank restructurings -- Debt restructuring and international relations -- Globalization, financial sector liberalization, and emerging market crises, 1990-2005 -- Globalization, financial sector liberalization, and the flow of capital to emerging markets [TK] -- The emerging market crises and the mexican crisis, 1994-97 -- The East Asian crisis, 1997-2003 -- Korea and crisis resolution, 1997-2003 -- The Turkish crisis, 2001-05 -- The argentine crisis, 2001-04 -- The Great Recession and crises in the advanced economies -- Crises in the advanced economies and the Japanese crisis as a precursor -- U.S. crisis-causes of the crisis, 2007-12 -- Ad hoc interventions before the Lehman collapse -- A systemic approach to crisis resolution after the Lehman collapse -- The great recession-from financial to economic crisis -- The eurozone crisis, 2008-15 -- The eurozone crisis-from banking crises, to sovereign crises, to bailouts -- Conclusion-are we prepared for the next one? -- Appendixes -- A. A comparative overview of debt-crisis regimes : from the great depressions through the great -- Recession -- B. C ommercial bank debt restructurings with sovereign debtors, 1980-89 -- Notes. 330 $aSovereign debt crises are a little like the weather: One can get ready to endure them and maybe take some steps to lessen their impact, but so far it hasn't been possible to prevent them. Like the weather, they just keep happening. That's the overriding thesis of this book tracing the major debt crises of the past century, starting with the Great Depression and running through the recent Great Recession. Written by a former World Bank expert on debt crises, this book discusses best practices for how such crises can be resolved. As the painful experience of the past decade reminded everyone, frequent debt crises and defaults do great damage to economies and cause vast personal hardship. But resolving them has proven difficult--both economically and politically--and has taken time, almost always requiring a lender of last resort such as a country's central bank or the International Monetary Fund. Too often, efforts to end debt crises have been little more than a palliative, and the debt overhang from one crisis contributes to the next, as illustrated by the ongoing saga in Greece. Both private and sovereign debts have increased substantially since the 2008 crisis, with inadequate deleveraging. This debt overhang leaves countries vulnerable and with limited maneuverability to address the next crisis. This book does not pretend to describe how debt crises can be prevented. But it does draw useful lessons from recent crises that can help economists, bankers, policymakers, and others resolve the inevitable future crises with the least possible damage. 606 $aFinancial crises$2fast$3(OCoLC)fst00924607 606 $aDebts, Public$2fast$3(OCoLC)fst00888850 606 $aDebts, External$2fast$3(OCoLC)fst00888828 606 $aInternational economic relations$2fast$3(OCoLC)fst00976891 606 $aFinancial crises$xHistory$y20th century 606 $aInternational economic relations$xHistory$y20th century 606 $aDebts, External$xHistory$y20th century 606 $aDebts, Public$xHistory$y20th century 606 $aBUSINESS & ECONOMICS$xEconomic Conditions$2bisacsh 608 $aHistory.$2fast 615 7$aFinancial crises. 615 7$aDebts, Public. 615 7$aDebts, External. 615 7$aInternational economic relations. 615 0$aFinancial crises$xHistory 615 0$aInternational economic relations$xHistory 615 0$aDebts, External$xHistory 615 0$aDebts, Public$xHistory 615 7$aBUSINESS & ECONOMICS$xEconomic Conditions. 676 $a338.5/42 700 $aLieberman$b Ira W.$f1942-$01855966 712 02$aBloomsbury (Firm), 801 0$bDLC 801 1$bDLC 801 2$bOCLCO 801 2$bOCLCA 801 2$bOCLCF 801 2$bYDX 801 2$bP@U 801 2$bEBLCP 801 2$bJSTOR 801 2$bYDX 801 2$bOCLCO 801 2$bMERER 801 2$bMERUC 801 2$bN$T 801 2$bOTZ 801 2$bUAB 801 2$bHF9 801 2$bAU@ 801 2$bOCL 801 2$bOCLCQ 801 2$bUX1 801 2$bVT2 801 2$bK6U 801 2$bOCLCO 801 2$bOCLCQ 801 2$bUKMGB 801 2$bOCLCO 801 2$bOCLCL 801 2$bUtOrBLW 906 $aBOOK 912 $a9910956054703321 996 $aIn Good Times Prepare for Crisis$94454450 997 $aUNINA 999 $cEBook