Synopsis
This book critically examines the global financial system's heavy reliance on commercial bank credit for North-South financial exchange. The author argues that this current system, in which lending is primarily in the form of debt with little risk-sharing, is fundamentally flawed. Rather than leading to mutually beneficial outcomes, it creates perverse incentives, exacerbates risk, and concentrates default risk within a narrow range of the financial sector. The result is a system that is unlikely to maximize global welfare and may, in fact, be contributing to financial instability. The author proposes several reforms to address these structural issues and increase the welfare contribution of North-South financial exchange. These include smoothing real debt service patterns, increasing repayment flexibility, promoting nonrecourse financing, and encouraging project-specific risk capital. Ultimately, the book demonstrates that a more balanced and diversified approach to North-South finance, one that moves away from excessive reliance on commercial bank credit, is essential for ensuring the stability and effectiveness of the global financial system.
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North-South Finance: The Implications of Overreliance on Bank Credit
Print on DemandSeller: Forgotten Books, London, United Kingdom
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Paperback. Condition: New. Print on Demand. This book critically examines the global financial system's heavy reliance on commercial bank credit for North-South financial exchange. The author argues that this current system, in which lending is primarily in the form of debt with little risk-sharing, is fundamentally flawed. Rather than leading to mutually beneficial outcomes, it creates perverse incentives, exacerbates risk, and concentrates default risk within a narrow range of the financial sector. The result is a system that is unlikely to maximize global welfare and may, in fact, be contributing to financial instability. The author proposes several reforms to address these structural issues and increase the welfare contribution of North-South financial exchange. These include smoothing real debt service patterns, increasing repayment flexibility, promoting nonrecourse financing, and encouraging project-specific risk capital. Ultimately, the book demonstrates that a more balanced and diversified approach to North-South finance, one that moves away from excessive reliance on commercial bank credit, is essential for ensuring the stability and effectiveness of the global financial system. This book is a reproduction of an important historical work, digitally reconstructed using state-of-the-art technology to preserve the original format. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in the book. print-on-demand item. Seller Inventory # 9781334476518_0
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North-South Finance
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PAP. Condition: New. New Book. Shipped from UK. Established seller since 2000. Seller Inventory # LW-9781334476518
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North-South Finance
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PAP. Condition: New. New Book. Shipped from UK. Established seller since 2000. Seller Inventory # LW-9781334476518
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