Globalization and the State: Volume II: Trade Agreements, Inequality, the Environment, Financial Globalization, International Law and Vulnerabilities PDF
Preview Globalization and the State: Volume II: Trade Agreements, Inequality, the Environment, Financial Globalization, International Law and Vulnerabilities
Globalization and the State Trade Agreements, Inequality, the Environment, Financial Globalization, International Law and Vulnerabilities Volume II Carlos M. Peláez and Carlos A. Peláez Globalization and the State: Volume II October11,2008 9:45 MAC/GATS-vol2 Page-i 9780230_205314_01_prexvi AlsobyCarlosM.PeláezandCarlosA.Peláez: THEGLOBALRECESSIONRISK DollarDevaluationandtheWorldEconomy INTERNATIONALFINANCIALARCHITECTURE G7,IMF,BIS,DebtorsandCreditors GOVERNMENTINTERVENTIONINGLOBALIZATION October11,2008 9:45 MAC/GATS-vol2 Page-ii 9780230_205314_01_prexvi Globalization and the State: Volume II Trade Agreements, Inequality, the Environment, Financial Globalization, International Law and Vulnerabilities Carlos M. Peláez and Carlos A. Peláez October11,2008 9:45 MAC/GATS-vol2 Page-iii 9780230_205314_01_prexvi ©CarlosM.PeláezandCarlosA.Peláez2008 Allrightsreserved.Noreproduction,copyortransmissionofthis publicationmaybemadewithoutwrittenpermission. Noportionofthispublicationmaybereproduced,copiedortransmitted savewithwrittenpermissionorinaccordancewiththeprovisionsofthe Copyright,DesignsandPatentsAct1988,orunderthetermsofanylicence permittinglimitedcopyingissuedbytheCopyrightLicensingAgency, SaffronHouse,6-10KirbyStreet,LondonEC1N8TS. Anypersonwhodoesanyunauthorizedactinrelationtothispublication maybeliabletocriminalprosecutionandcivilclaimsfordamages. Theauthorshaveassertedtheirrightstobeidentified astheauthorsofthisworkinaccordancewiththeCopyright, DesignsandPatentsAct1988. Firstpublished2008by PALGRAVEMACMILLAN PalgraveMacmillanintheUKisanimprintofMacmillanPublishersLimited, registeredinEngland,companynumber785998,ofHoundmills,Basingstoke, HampshireRG216XS. PalgraveMacmillanintheUSisadivisionofStMartin’sPressLLC, 175FifthAvenue,NewYork,NY10010. PalgraveMacmillanistheglobalacademicimprintoftheabovecompanies andhascompaniesandrepresentativesthroughouttheworld. Palgrave®andMacmillan®areregisteredtrademarksintheUnitedStates, theUnitedKingdom,Europeandothercountries. ISBN-13:978–0–230–20531–4hardback ISBN-10:0–230–20531–3hardback Thisbookisprintedonpapersuitableforrecyclingandmadefromfully managedandsustainedforestsources.Logging,pulpingandmanufacturing processesareexpectedtoconformtotheenvironmentalregulationsofthe countryoforigin. AcataloguerecordforthisbookisavailablefromtheBritishLibrary. AcatalogrecordforthisbookisavailablefromtheLibraryofCongress. 10 9 8 7 6 5 4 3 2 1 17 16 15 14 13 12 11 10 09 08 PrintedandboundinGreatBritainby CPIAntonyRowe,ChippenhamandEastbourne October11,2008 9:45 MAC/GATS-vol2 Page-iv 9780230_205314_01_prexvi To Magnolia and Penelope October11,2008 9:45 MAC/GATS-vol2 Page-v 9780230_205314_01_prexvi This page intentionally left blank Contents ListofTables ix ListofChart x ListofAbbreviations xi Acknowledgments xvi Introduction 1 1 TradeAgreements 3 Introduction 3 Theeconomicanalysisoftradeagreements 4 TheEuropeanUnion 8 NAFTA 10 APEC 15 ASEAN 17 MERCOSUR 24 OPEC 28 Summary 34 2 Poverty,Inequality,theEnvironmentandSocialIssues 35 Introduction 35 Globalpovertyandinequality 35 Regional,internationalandglobalpublicgoods 46 Theenvironment 48 Climatechange 52 Politicalregime 63 Summary 72 3 FinancialGlobalization 73 Introduction 73 Finance,efficiencyandgrowth 73 Financialrepressionandrestraint 81 Financialglobalization 86 Capitalaccountliberalization 90 Financialcrises 102 Financialreversalsandthemodifiedprivate interestview 108 Summary 112 vii October11,2008 9:45 MAC/GATS-vol2 Page-vii 9780230_205314_01_prexvi viii Contents 4 InternationalEconomicLaw 114 Introduction 114 Softlaw,standardsandcodes 114 BaselIIcapitalrequirements 126 ImplementingBaselIIinEuropeandtheUnitedStates 143 Self-regulatoryorganizations,theSECandtheFSA 148 Sarbanes-Oxley 155 UScompetitivenessincapitalmarkets 168 Summary 179 5 VulnerabilitiesoftheGlobalEconomy 180 Introduction 180 USexternaldeficitsandtheglobalrecessionrisk 182 Thechallengetotheinternationalfinancialsystem 194 Regulation,tradeanddevaluationwars 205 Summary 209 Conclusion:TheCredit/DollarCrisis 211 Notes 214 References 215 Index 233 October11,2008 9:45 MAC/GATS-vol2 Page-viii 9780230_205314_01_prexvi List of Tables 1.1 WorldexportsandimportsofmerchandiseUS$Billion,2005 4 1.2 GDP,GDPpercapita,exportsandimportsoftheEUcountries 9 1.3 GDP,GDPpercapita,exportsandimportsinNAFTA2005 10 1.4 GDP,GDPpercapita,exportsandimportsinAPEC2005 15 1.5 GDP,GDPpercapita,exportsandimportsinASEAN2005 18 1.6 TradeofASEANandChinaUS$B,2005 21 1.7 GDP,GDPpercapita,exportsandimportsinMERCOSUR2005 24 1.8 ProjectionsofUSoilpriceandconsumption 29 1.9 GDP,GDPpercapita,exportsandimportsinOPEC2005 30 2.1 GDPgrowthinRussiaandChina1991–2000in% 42 2.2 Discountfactorsoffuturevalues 60 2.3 DICEmodelsimulationsbyNordhaus(2006) 61 3.1 Functionsoffinancialintermediation 75 3.2 Interestrateliberalizationandprudentialbankbehavior 83 3.3 Benefitsoffinancialsectorforeigndirectinvestment 89 3.4 UnitedStatesinternationaltransactions,2005US$Billions 91 3.5 Thailand,KoreaandIndonesia,indicatorsduringtheAsiancrisis 103 3.A Countriesinfinancialcrisis 103 3.6 ThemodifiedprivateinterestviewofRajanandZingales 110 4.1 Institutionsofstrengtheningfinancialstandardsandcodes 116 4.2 Processbasedoninternalratings(IRB) 133 4.3 RiskcomponentsofBaselII 134 4.4 IRBriskweightsforunexpectedloss 137 4.5 MinimumrequirementsforIRBentryanduse 138 4.6 Treatmentofsecuritizationexposures 140 4.7 DefinitionsinBaselII 142 4.8 Selectedstockandfuturesexchanges 149 4.9 CorporatescandalsaccordingtoCoffee 156 4.10 StructureofSOX 157 4.11 ThelossofcompetitivenessofUScapitalmarkets 170 4.12 ProposalsforenhancingUScompetitivenessinfinancialmarkets 177 5.1 US,currentaccount,NIIP,fiscalbalance,debtandnominalGDP $Billions 183 5.2 Globalimbalances$Band% 184 5.3 SummaryofresultsbyCrokeetal.(2005) 185 5.4 US,exports,importsandtradebalance$Million 189 5.5 IMFregionalpoliciesofsharedresponsibility 193 5.6 USGDPgrowth1930–45% 206 ix October11,2008 9:45 MAC/GATS-vol2 Page-ix 9780230_205314_01_prexvi
Description:The list of books you might like
