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The Financial Crisis, though originating in the US, is global and comparable with the Great Depression of the 1930s. The book takes both micro and macro view of the crisis. It examines the evolution of the global monetary system and looks at the crisis from a systemic angle. It examines the institutional changes in American capitalism and market mechanisms. The dynamics of the market and its cyclical characters are discussed. It examines the structural changes in the US economy. The role of globalization and international funds flow, their changing character and the growing interdependence…mehr

Produktbeschreibung
The Financial Crisis, though originating in the US, is global and comparable with the Great Depression of the 1930s. The book takes both micro and macro view of the crisis. It examines the evolution of the global monetary system and looks at the crisis from a systemic angle. It examines the institutional changes in American capitalism and market mechanisms. The dynamics of the market and its cyclical characters are discussed. It examines the structural changes in the US economy. The role of globalization and international funds flow, their changing character and the growing interdependence among nations have been examined. At the micro level, the book discusses the subprime market and the gaps in the system that created the crisis. It deals with the supervisory structure and growing influence of the derivatives market and the synthetic products that are threatening the financial system. It also analyzes the fundamental changes in the global trading and payments patterns, which are influencing the US balance of payments and the US dollar. The secular changes in the structure of the US economy are impacting the global economy. The work deals with the measures taken to resolve the crisis both in the US and on a global scale. The reforms necessary to avoid the recurrence of the crisis are outlined. The study aims to underline these factors and draw a perspective for the US dollar. It is also proposed to draw a scenario for a more efficient and equitable global monetary system with a role for the US dollar along with a new vehicle for international payments and finance. This would also include the reform of the global economic system and the IMF. The special feature of the book is that it takes a holistic view of the problem. The systemic and macro issues are discussed in addition to its microanalysis.
Autorenporträt
Dr. Satyendra S. Nayak is an independent financial advisor and consultant. His experience stems from over 30 years of working in Banking and Mutual Fund industry, covering working in operations, international finance, project financing, foreign exchange, mutual fund management, equity and debt investments, portfolio management, and economic and investment research and strategy. He received his Ph.D. in International Economics and Finance from the University of Bombay, India. He is also a Professor at ICFAI Business School in Mumbai in the Centre for Advanced Banking and Finance Studies. He has published several articles and papers on India’s balance of payments, exchange rate of rupee, Euro Dollar market, behavior of US Dollar, international finance, Indian capital markets, stock market and mutual funds, US financial crisis and Keynesian economics. His earlier book ‘Global Monetary Experience and India’ won the Bhateja Memorial Award for the best book in economics in India in 1995. His second book ‘Globalization and the Indian Economy: Roadmap to Convertible Rupee’ was published by Routledge in 2008. He submitted a report on Roadmap for Fuller Convertibility of Indian Rupee to the Reserve Bank of India in 2006 and a number of recommendations made in the convertibility report were accepted by the Official Committee. He has addressed several national and international seminars, workshops and training programs in India and abroad on exchange rates, foreign exchange, international banking and euro currency market, capital markets, investment management, emerging markets, country funds, mutual funds, economic environment, budget and other related topics. He was a Member of Study Team appointed by the Asian Development Bank in 1988 on the Reform of Indonesian Capital Market.