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008			140626 2006 000 0 eng d
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082	0	4	_a336.3435 _bMAU
100	1		_aMauro, Paolo _92755158
245	1		_aEmerging markets and financial globalization : _b sovereign bond spreads in 1870 - 1913 and today / _cPaolo Mauro and Nathan Sussman and Yishay Yafeh
260			_aLondon : _bOxford University Press, _c2006
300			_ax, 193p, 22cm.
504			_aEmerging markets have become increasingly important for global international investors, and bond markets in particular have gained prominence. At the same time, emerging markets have been prone to frequent and virulent crises, leading to calls for possible reforms of the international financial architecture. ln an effort to learn more about today's international financial environment, the authors turn to an earlier era of financial globalization between 1870 and 1913.By examining data on sovereign bonds issued by borrowing developing countries in this earlier period and in the present day, the authors arc able toidentify the characteristics of successful borrowers in the two periods. They are then able to show that global crises or contagion are a feature of the1990S which was hardly known in the previous era of globalization.
650		0	_aCapital movements _xHistory _x19th century _92755159
650		0	_aDebts, External _xDeveloping countries _xHistory _x19th century _91582296
650		0	_aGlobalization _92755160
700			_aSussman, Nathan _92755161
700			_aYafeh, Yishay _92755162
901			_a119663~~~C
903			_a119663~~~C
904			_a<Debts, External-Developing countries-History-19th century><Capital movements-History-19th century><Globalization>
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999			_c935485 _d935485