Risk and Financial Arrangements ("Comparative" Classic Series)

Author: Cao Rongxiang
Publisher:
Publish Date: 2004-06-01
Features: In the second half of the 20th century, the issue of the financial system became a major and entirely new challenge for the economic community. Prior to this, while the economic community had paid attention to financial crises and the role of finance in the economy, the importance of the real economy had always surpassed that of the financial economy. After the collapse of the Bretton Woods system, financial issues were brought to the center of international economics. Financial liberalization, globalization, and the continuous outbreak of financial crises have placed the world's financial system in strong, sustained turbulence, with its negative impact on the real economy capable of destroying any intact economy. How to strengthen the domestic financial system to resist financial contagion, and how to establish international financial system arrangements to reduce the severity and scope of crises, have attracted close attention from the global theoretical community. Considering the needs of readers, in order to comprehensively present all aspects of financial system construction, the journal has collaborated with Social Sciences Academic Press to compile selected translations from past issues of Comparative Economic Systems and Societies related to the financial system, jointly launching the book Risk and Financial Arrangements for readers. The selection of articles in the book follows two principles: first, the classic nature of the articles. All the selected articles have had significant influence both domestically and internationally, and some, though published long ago, remain timeless in their content. Second, the fame of the authors. MacKinon, Stiglitz, John C. Coffee Jr., Glaser, Nicholas Lardy, Lester Thurow, Qian Yingyi, Xu Chenggang, and others are all renowned figures in academia. The book is divided into four parts: the first part provides a comprehensive overview of financial system issues, such as exchange rate systems, government and finance, financial liberalization, etc.; the second part focuses on securities markets and securities regulation; the third part is a special topic on financial crises and financial contagion; the fourth part focuses on the construction of China's financial system. The improvement of the financial system is not only a primary issue for the world economy in the era of globalization but also one of the most pressing tasks for China at present. The book focuses on four key issues: the financial system, securities legislation, financial crises, and the construction of China's financial system. The content is rich, the arguments are incisive, and the policy recommendations cover all aspects of financial system construction.
Target Audience: Decision-makers and staff in the finance, securities, banking, and related industries, as well as students and faculty in economics and finance at universities and colleges.