Details
- istorical overview of eight major global financial crises: the Baring Crisis of 1890; the American Panic of 1907; the Financial Crisis in 1914; the Great Depression of 1929-33; the Financial Instability of the early 1970s; the International Debt Crisis of 1982; the Japanese Banking Crisis of 1997-8; and the Financial Debacle of 2008
- Explored through themes of Governance, Regulation, International Cooperation, and the Balance of Power
- Written by a leading financial historian in an accessible style
As the world's political and economic leaders struggle with the aftermath of the Financial Debacle of 2008, this book asks the question: have financial crises presented opportunities to rebuild the financial system?
Examining eight global financial crises since the late nineteenth century, this new historical study offers insights into how the financial landscape - banks, governance, regulation, international cooperation, and balance of power - has been (or failed to be) reshaped after a systemic shock. It includes careful consideration of the Great Depression of the 1930s, the only experience of comparable moment to the recession of the early twenty-first century, yet also marked in its differences.
Taking into account not only the economic and business aspects of financial crises, but also their political and socio-cultural dimensions, the book highlights both their idiosyncrasies and common features, and assesses their impact in the broader context of long-term historical development.
Readership: This book is intended for academics and students in Business History, Economic History, and Politics; those working within Finance; and those interested in understanding the current financial crisis from a broader historical perspective
Christophe Mazurier: Foreword
Introduction
1: Pre-War Crises
2: Post-War Crises
3: Banks
4: Governance
5: Regulation
6: International Cooperation
7: Balance of Power
Conclusion
Youssef Cassis, Professor of Economic History, European University Institute, Florence
Professor of Economic History, European University Institute, Florence. His work mainly focuses on banking and financial history, as well as business history more generally. His numerous publications on the subject include City Bankers, 1890-1914 (1994), Big Business: The European Experience in the Twentieth Century (1997), and Capitals of Capital: A History of International Financial Centres, 1780-2005 (2006).
"Youssef Cassis attempts to describe and explain the nature of modern bank crises: what creates them, why they happen and how they are resolved. This is a challenging subject for any study, and Cassis effortlessly carries it off ... The book greatly aids our understanding of financial crises." - Joel Campbell, International Affairs
"This is a book on the financial crisis that is both timely and Judicious. His sure historical grasp gives Youssef Cassis a unique insight into the links between financial crises and major shifts in regulatory and governance structures." - Harold James, Professor of History and International Affairs and Director of the Program in Contemporary European Studies, Princeton University
"In his earlier work Youssef Cassis has shown deep understanding of the dynamics of financial centres. Here he turns he attention to an anatomy of financial crises in the 20th century, where his analysis is acute and his insights are penetrating." - Howard Davies, Director, London School of Economics and Political Science
"If the financial crisis has a silver lining, it is that it has heightened appreciation of the importance of financial history. In this book Youssef Cassis, our preeminent historian of banking and finance, illustrates why this is the case. Newcomers will find an accessible introduction to the history of financial crises, while specialists will find much that is new and novel. Recommended to both." - Barry Eichengreen, George C. Pardee and Helen N. Pardee Professor of Economics and Political Science University of California, Berkeley
