...This chapter recounts the pace of financial development that quickened under President Bill Clinton, and like Prime Minister Tony Blair, he sought to challenge the libertarian drift set in motion by their predecessors. Clinton and Blair's “Third Way” preserved a role for government as a market...

... on fiscal capacity and their transmission. The comparison between Japan and Argentina sheds light on the significance of domestic credit markets to keep foreign dependence under control and prevent falling into a debt trap. Meanwhile, the comparison between Siam and Ethiopia demonstrates the perils...

...This chapter focuses on situations of pure exchange, where consumers wish to exchange bundles of goods they hold at the outset for other bundles they will subsequently consume. It uses this setting to introduce the theory of price-mediated market transactions and, more particularly, the theory...

...This chapter begins with an overview of the insurance sector in the context of financial markets and, more broadly, financial intermediation. Since the 1980s, life insurers have grown significantly, and the composition of their liabilities has shifted from life insurance to variable annuities...

... in the framework of the polis. It also discusses the role of dignitaries, temples, and the king in the way in which local markets were supplied, as well as status of property and land ownership within the framework of the city. Finally, it compares the status of what the Greeks called “civic land...

...—a significant version of gastropolitics called “gastronationalism.” Yet how foie gras is marketed to the French public today, including by the French state, conveniently obscures the industry's capital-intensive expansion and transformations over the last few decades. Foie gras's success should be understood...

...This chapter is an overview of Yeltsin's economic reforms, with a focus on the financial markets and banks associated with privatization. The architects of Russian reform hoped that private activity could be rapidly and irreversibly severed from the polity such that a “depoliticized” market would...

...This chapter focuses on the French Revolution's impact on credit markets and the long-term implications for lending. It begins with the revolution's fundamental institutional reforms, which shaped credit markets for the rest of the nineteenth century. The chapter analyzes the effect of the reforms...

...This chapter explains how, in the wake of the French Revolution's devastating inflation, local, peer-to-peer credit markets recuperated slowly. After such enormous losses, conditions for lending were hardly promising. Worse yet, one of the major revolutionary reforms that would eventually bolster...

... information, price competition in credit markets may be reduced, if not eliminated, in favor of credit rationing. Next, the chapter studies why the equilibrium in a credit rationing market may feature a single interest rate. Finally, it examines a third approach that analyzes conditions under which...

... so, they had to reinvent the role of government—not to supplant markets, but to make markets work more effectively and equitably. They avoided intracapitalist conflict, won the support of their own peoples, and created a culture of consumption that engendered the envy of peoples everywhere...

... to it. First, they turned to the promise of foreign markets, both to offload surpluses and find new markets. And second, they tried to find ways to subvert the debilitating effects of competition through cooperation and planning, first in the form of unworkable “pools” and “gentlemen's agreements...

... than any other figure in Russia or the West, is associated with the boom in Russian investment in the late nineteenth and early twentieth centuries. During his tenure as finance minister, Russia adopted the gold standard in 1897 and repeatedly turned to the foreign capital markets for loans to finance...

... be identified as contributing to the Western investment boom in the Russian markets from 1914 through late 1917. First, in contrast to later observers, many contemporary foreign investors did not perceive Russia as suffering from an economic crisis—even as late as 1917. Second, a remarkably high degree of risk...

..., frictions, network externalities and two-sided markets, market structure, and mergers. The validity of the Structure–Conduct–Performance paradigm for banking is tested and the contributions of the new empirical IO is explained. The effects of asymmetric information and deregulation are also discussed...

... to industrial cities did not lead to economic parity with whites either for the migrants themselves or for their children during the mid-twentieth century. This chapter introduces a new element to the story by pointing out that that the persistent influx of black migrants to northern labor and housing markets...

... financial and product markets. accounting standards governance private International Financial Reporting Standards IFRS “Roadmap to IFRS Adoption” SEC Securities and Exchange Commission SEC Financial Accounting Standards Board FASB Generally Accepted Accounting Principles GAAP Herz Robert rule...

...This chapter examines the role of private regulators in global financial markets, with particular emphasis on institutional structure and complementarity in accounting regulation. It first provides an overview of how the International Accounting Standards Board (IASB) became the focal institution...

...This chapter focuses on the creation of spot markets as a means for foreign traders in Bruges, Antwerp, and Amsterdam to find buyers or sellers and negotiate deals with them. It first considers how public vending locations were constantly adapted to the size and composition of the merchant...

...This chapter focuses on reflexivity and how it operates in democratic arrangements, considering a set of possible objections to this study's argument. The first potential objection is that the study has underestimated the capacity of decentralized markets. The chapter directly compares the relative...