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Auteur : George Chacko, Carolyn L. Evans, Hans Gunawan, Anders L. Sjoman
Edition : FT Press Pages: 283 Format: pdf l anguage :english
Written
for financial
professionals, the authors thoroughly explain the modern global credit
system ,the roles of banks, hedge funds,
insurers, central banks, mortgagemarkets, and other participants; and the credit-related instruments
they rely on. In particular, the authors illuminate the crucial importance of
liquidity, and show why liquidity failures have been the key cause of all major
market crashes for the past several decades. The Global Financial System
thoroughly examines economic environments in which slow de-leveraging leads to
prolonged sluggish growth, and compares today's environment to other periods of
deleveraging, such as the Great Depression and the Japanese economic
meltdown of the '90s and '00s. It predicts potential pathways for the current
crisis, and offers essential guidance to both policymakers and investment
decision-makers.
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