Coverart for item
The Resource Brother, can you spare a billion? : the United States, the IMF, and the international lender of last resort, Daniel McDowell

Brother, can you spare a billion? : the United States, the IMF, and the international lender of last resort, Daniel McDowell

Label
Brother, can you spare a billion? : the United States, the IMF, and the international lender of last resort
Title
Brother, can you spare a billion?
Title remainder
the United States, the IMF, and the international lender of last resort
Statement of responsibility
Daniel McDowell
Creator
Author
Subject
Language
eng
Summary
  • "When financial crises occur, economic theory maintains that national economies need a lender of last resort to stabilize markets. In today's financial system, crises are rarely confined to one country-they often go global. Yet, there is no formal international lender of last resort (ILLR) to perform this function for the world economy. Conventional wisdom says that the International Monetary Fund (IMF) has emerged as the de facto ILLR. However, that premise is incomplete. Brother, Can You Spare a Billion? explores how the United States has for decades regularly complemented the Fund's ILLR role by selectively providing billions of dollars in emergency loans to foreign economies in crisis. Why would U.S. policymakers ever put national financial resources at risk to "bail out" foreign governments and citizens to whom they are not beholden-especially when the IMF was created for this purpose? Daniel McDowell argues the United States has been compelled to provide such rescues unilaterally when it believes a multilateral response via the IMF is either too slow or too small to protect vital U.S. economic and financial interests. Interestingly, it does this despite the many advantages to allowing the IMF to take the lead. The United States never wanted to go into the international lending business, but in response to the IMF's chronic weaknesses, it intervenes to manage international economic crises before they can affect America's domestic economy. Through a combination of historical case studies and statistical analysis, McDowell uncovers the defensive motives behind U.S. decisions to provide global liquidity beginning in the 1960s, moving through international debt crises of the 1980s and emerging market currency crises of the 1990s, and extending up to the 2008 global financial crisis. Brother, Can You Spare a Billion? goes beyond conventional wisdom to paint a complete picture of how international financial crises have been managed and highlights the unique role that the United States has played in stabilizing the world economy in troubled times."--
  • "This book explores how and why the U.S. has regularly acted, often alongside the IMF, as an international lender of last resort by selectively bailing out foreign economies in crisis. It highlights the unique role that the U.S. has played in stabilizing the world economy from the 1960s through 2008"--
Assigning source
  • Provided by publisher
  • Provided by publisher
Cataloging source
DLC
http://library.link/vocab/creatorName
McDowell, Daniel
Dewey number
332.1/52
Illustrations
illustrations
Index
index present
LC call number
HJ8119
LC item number
.M35 2017
Literary form
non fiction
Nature of contents
bibliography
http://library.link/vocab/subjectName
  • International Monetary Fund
  • Loans, Foreign
  • International Monetary Fund
  • POLITICAL SCIENCE / International Relations / General
  • POLITICAL SCIENCE / Public Policy / Economic Policy
  • POLITICAL SCIENCE / International Relations / Trade & Tariffs
  • Loans, Foreign
  • United States
Label
Brother, can you spare a billion? : the United States, the IMF, and the international lender of last resort, Daniel McDowell
Instantiates
Publication
Copyright
Bibliography note
Includes bibliographical references (pages 197-212) and index
Carrier category
volume
Carrier category code
  • nc
Carrier MARC source
rdacarrier
Content category
text
Content type code
  • txt
Content type MARC source
rdacontent
Contents
1. Introduction -- 2. The ILLR in theory and practice -- 3. The United States invents its own ILLR, 1961-1962 -- 4. The Exchange Stabilization Fund and the IMF in the 1980s and 1990s -- 5. Who's in, who's out, and why? selecting whom to bail out, 1983-1999 -- 6. US international bailouts in the 1980s and 1990s -- 7. The United States as an ILLR during the Great Panic of 2008-2009 -- 8. Conclusions
Control code
954429508
Dimensions
25 cm
Extent
xvii, 224 pages
Isbn
9780190605766
Lccn
2016022373
Media category
unmediated
Media MARC source
rdamedia
Media type code
  • n
Other physical details
illustrations
System control number
(OCoLC)954429508
Label
Brother, can you spare a billion? : the United States, the IMF, and the international lender of last resort, Daniel McDowell
Publication
Copyright
Bibliography note
Includes bibliographical references (pages 197-212) and index
Carrier category
volume
Carrier category code
  • nc
Carrier MARC source
rdacarrier
Content category
text
Content type code
  • txt
Content type MARC source
rdacontent
Contents
1. Introduction -- 2. The ILLR in theory and practice -- 3. The United States invents its own ILLR, 1961-1962 -- 4. The Exchange Stabilization Fund and the IMF in the 1980s and 1990s -- 5. Who's in, who's out, and why? selecting whom to bail out, 1983-1999 -- 6. US international bailouts in the 1980s and 1990s -- 7. The United States as an ILLR during the Great Panic of 2008-2009 -- 8. Conclusions
Control code
954429508
Dimensions
25 cm
Extent
xvii, 224 pages
Isbn
9780190605766
Lccn
2016022373
Media category
unmediated
Media MARC source
rdamedia
Media type code
  • n
Other physical details
illustrations
System control number
(OCoLC)954429508

Library Locations

    • Thomas Jefferson LibraryBorrow it
      1 University Blvd, St. Louis, MO, 63121, US
      38.710138 -90.311107
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