A remarkable feature of the period since 1970 has been the patterns of rapid and turbulent change in financing behavior and financial structure in many advanced countries. This book explores, in theoretical and empirical terms, the nature of the relationships between the underlying phenomena--levels and changes in debt, vulnerability to default in the corporate and household sectors, and systematic risk in the financial sector. The book focuses on the generality of this phenomena--whether similar patterns are observable in certain countries, as well as in the international capital markets themselves. Emphasis is placed to the importance of the nature and evolution of financial structure to the genesis of instability. Given the international scope of the analysis, the work is germane to the study of the development of financial systems in all advanced countries, as well as the euromarkets.

Debt, Financial Fragility, and Systemic Risk

Business & Money

Davis, E. Philip

Economics

Clarendon Press

A remarkable feature of the period since 1970 has been the patterns of rapid and turbulent change in financing behaviour and financial structure in many advanced countries. This book explores, in theoretical and empirical terms, the nature of the relationships between the underlying phenomena--levels and changes in debt, vulnerabililty to default in the corporate and household sectors, and systematic risk in the financial sector. The book focuses on the generality of this phenomena--whether similar patterns are observable in certain countries, as well as in the international capital markets themselves. Emphasis is placed to the importance of the nature and evolution of financial structure to the genesis of instability. Given the international scope of the analysis, the work is germane to the study of the development of financial systems in all advanced countries, as well as the euromarkets.

Oxford University Press

Coping with the aging of the population without economic disruption is undoubtedly one of the major challenges facing the global economy and world financial markets both now and for the coming decades. In this context, this book assesses the major economic issues raised by occupational pension funds, as they have arisen in 12 OECD countries; the US, the UK, Germany, Japan, France, Italy, Canada, Australia, Denmark, Sweden, Switzerland, and the Netherlands, as well as in Chile and Singapore. Particular emphasis is placed on the performance of funds in financial markets, the influence on funds of fiscal and regulatory conditions, and the consequences of funds' development for capital markets, corporate finance and international investment. The relationship with social security, the comparative advantages of defined benefit and defined contribution funds and the role of funds in developing countries are also examined in detail.

Pension Funds: Retirement-Income Security, and Capital Markets: An International Perspective

Pension Funds: Retirement-Income Security and the Development of Financial Systems: An International Perspective

One of the most important recent developments in financial markets is the institutionalization of saving associated with the growth of pension funds, life insurance companies, and mutual funds. An increasing proportion of household saving is now managed by professional portfolio managers instead of being directly invested in the securities markets or held in the form of bank deposits. With the aging of the population and its adverse impact on public pension systems, the shift of individual savings to institutional investors is likely to become even more marked in the coming years.
This book provides a comprehensive economic assessment of institutional investment. It charts the development and performance of the asset management industry and analyzes the implications of rising institutionalized saving for the development of the securities trading industry, the financial sector as a whole, and the wider economy. The book draws extensively on international experience, particularly in the United States, Western Europe, and Japan.

Institutional Investors

Steil, Dr. Benn

Mit Pr

One of the most important recent developments in financial markets is the institutionalization of saving associated with the growth of pension funds, life insurance companies, and mutual funds. An increasing proportion of household saving is now managed by professional portfolio managers instead of being directly invested in the securities markets or held in the form of bank deposits. With the aging of the population and its adverse impact on public pension systems, the shift of individual savings to institutional investors is likely to become even more marked in the coming years.This book provides a comprehensive economic assessment of institutional investment. It charts the development and performance of the asset management industry and analyzes the implications of rising institutionalized saving for the development of the securities trading industry, the financial sector as a whole, and the wider economy. The book draws extensively on international experience, particularly in the United States, Western Europe, and Japan.

Steil, Benn

Finance

Differences in financial structure result in contrasting financing and economic behavior. This book confronts theory and empirical research with aggregate financial data across the G7, spanning 1970 through 2000. It compares the contrasting patterns and development of financial structures with the main theoretical and empirical results in economic literature. The resulting data analysis traces portfolios over a turbulent period characterized by considerable economic and financial instability, marked financial liberalization, far-reaching technical change and volatile asset prices.

Financial Structure: An Investigation of Sectoral Balance Sheets in the G-7 (National Institute of Economic and Social Research Economic and Social Studies, Series Number 43)

Byrne, Joseph P.

Cambridge University Press

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Books by Davis, E. Philip

See the best price to sell, buy, or rent books by Davis, E. Philip. BookScouter helps to compare book prices from 25+ online bookstores and 30+ buyback vendors with a single search.

Debt, Financial Fragility, and Systemic Risk

Debt, Financial Fragility, and Systemic Risk

Pension Funds: Retirement-Income Security, and Capital Markets: An International Perspective

Pension Funds: Retirement-Income Security and the Development of Financial Systems: An International Perspective

Institutional Investors

Institutional Investors

Financial Structure: An Investigation of Sectoral Balance Sheets in the G-7 (National Institute of Economic and Social Research Economic and Social Studies, Series Number 43)