Sovereign's Hold


Book Description

In an empire caught between the myth of the past and its army's aggressive expansion, four people challenge fate.




Sovereign Debt


Book Description

This book is an attempt to build some structure around the issues of sovereign debt to help guide economists, practitioners, and policymakers through this complicated, but not intractable, subject.




A Debt Restructuring Mechanism for Sovereigns


Book Description

The Eurozone crisis which started in spring 2010 as a Greek budget crisis has alerted Europeans that the issue of defaulting sovereigns is not one reserved just for the poor and poorest countries on this globe. The crisis painfully amplified that developed countries, too, might be hit by this phenomenon. To be sure, this insight is far from novel - the history of defaulting states reaches back into history for at least two millennia. And yet, lawyers have surprisingly abstained more or less completely from discussing this subject and developing possible solutions. Beginning with the Argentina crisis in 2001, this neglect began to vanish to a certain degree and this movement got some momentum in 2010 by the Eurozone crisis. The present book collects contributions from authors most of whom have participated in a conference on this issue in January 2012 at the Humboldt-Universität zu Berlin. The presentations, thus, provide a unique overview of the present discussion both from an economic and legal perspective.




Managing the Sovereign-Bank Nexus


Book Description

This paper reviews empirical and theoretical work on the links between banks and their governments (the bank-sovereign nexus). How significant is this nexus? What do we know about it? To what extent is it a source of concern? What is the role of policy intervention? The paper concludes with a review of recent policy proposals.




State-Contingent Debt Instruments for Sovereigns


Book Description

Background. The case for sovereign state-contingent debt instruments (SCDIs) as a countercyclical and risk-sharing tool has been around for some time and remains appealing; but take-up has been limited. Earlier staff work had advocated the use of growth-indexed bonds in emerging markets and contingent financial instruments in low-income countries. In light of recent renewed interest among academics, policymakers, and market participants—staff has analyzed the conceptual and practical issues SCDIs raise with a view to accelerate the development of self-sustaining markets in these instruments. The analysis has benefited from broad consultations with both private market participants and policymakers. The economic case for SCDIs. By linking debt service to a measure of the sovereign’s capacity to pay, SCDIs can increase fiscal space, and thus allow greater policy flexibility in bad times. They can also broaden the sovereign’s investor base, open opportunities for risk diversification for investors, and enhance the resilience of the international financial system. Should SCDI issuance rise to account for a large share of public debt, it could also significantly reduce the incidence and cost of sovereign debt crises. Some potential complications require mitigation: a high novelty and liquidity premium demanded by investors in the early stage of market development; adverse selection and moral hazard risks; undesirable pricing effects on conventional debt; pro-cyclical investor demand; migration of excessive risk to the private sector; and adverse political economy incentives.




The Sovereign Individual


Book Description

Now featuring a new preface by Peter Thiel Two renowned investment advisors and authors of the bestseller The Great Reckoning bring to light both currents of disaster and the potential for prosperity and renewal in the face of radical changes in human history as we move into the next century. The Sovereign Individual details strategies necessary for adapting financially to the next phase of Western civilization. Few observers of the late twentieth century have their fingers so presciently on the pulse of the global political and economic realignment ushering in the new millennium as do James Dale Davidson and Lord William Rees-Mogg. Their bold prediction of disaster on Wall Street in Blood in the Streets was borne out by Black Tuesday. In their ensuing bestseller, The Great Reckoning, published just weeks before the coup attempt against Gorbachev, they analyzed the pending collapse of the Soviet Union and foretold the civil war in Yugoslavia and other events that have proved to be among the most searing developments of the past few years. In The Sovereign Individual, Davidson and Rees-Mogg explore the greatest economic and political transition in centuries—the shift from an industrial to an information-based society. This transition, which they have termed "the fourth stage of human society," will liberate individuals as never before, irrevocably altering the power of government. This outstanding book will replace false hopes and fictions with new understanding and clarified values.










The Closure of the International System


Book Description

Explains how actors control access to international resources, creating a stratified international system of political equals and unequals.




Introduction to Criminology


Book Description

Introduction to Criminology, Tenth Edition, is a comprehensive introduction to the study of criminology, focusing on the vital core areas of the field—theory, method, and criminal behavior. With more attention to crime typologies than most introductory texts, authors Frank E. Hagan and Leah Elizabeth Daigle investigate all forms of criminal activity, such as organized crime, white collar crime, political crime, and environmental crime. The methods of operation, the effects on society and policy decisions, and the connection between theory and criminal behavior are all explained in a clear, accessible manner. New to the Tenth Edition: New “Applying Theory” scenarios are included with the theory chapters in Part II. These application exercises encourage critical thinking by asking you to use criminological theory to explain the criminal behavior of Aileen Wuornos. Updated “Crime and the Media” boxes highlight the effect that the media has on public perception of crime. New topics include the #MeToo movement, media coverage of the opioid crisis, popular shows like Breaking Bad and The Wire, online dating fraud, and cyberbullying. Over 170 new “Learning Check” questions and answers have been added throughout the book to help you review your understanding of key concepts and increase reading comprehension. Examination of important new topics, like what works in criminology, the relationship between immigration and crime, the impact of neuroscience and genetic studies on criminology, recent shootings and terrorist attacks, and the continuing battle between over-criminalization and under-criminalization, deepens your understanding of the field. Updated figures, tables, and statistics throughout the book ensure that you have access to the most current information available.