Sovereign Risk and Financial Crisis: The International Political Economy of the Eurozone

Author:   Silvia Pepino
Publisher:   Palgrave Macmillan
Edition:   1st ed. 2015
ISBN:  

9781137511638


Pages:   176
Publication Date:   03 August 2015
Format:   Hardback
Availability:   In Print   Availability explained
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Sovereign Risk and Financial Crisis: The International Political Economy of the Eurozone


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Overview

This book provides an original and timely insight into the role that the domestic and international political economy played in the Eurozone sovereign debt crisis, combining an innovative theoretical framework with in-depth bond market analysis.

Full Product Details

Author:   Silvia Pepino
Publisher:   Palgrave Macmillan
Imprint:   Palgrave Macmillan
Edition:   1st ed. 2015
Dimensions:   Width: 14.00cm , Height: 1.30cm , Length: 21.60cm
Weight:   3.403kg
ISBN:  

9781137511638


ISBN 10:   113751163
Pages:   176
Publication Date:   03 August 2015
Audience:   Professional and scholarly ,  Professional & Vocational
Format:   Hardback
Publisher's Status:   Active
Availability:   In Print   Availability explained
This item will be ordered in for you from one of our suppliers. Upon receipt, we will promptly dispatch it out to you. For in store availability, please contact us.

Table of Contents

PART I: SOVEREIGN RISK, POLITICS AND THE EUROZONE CRISISi. Introduction 1. Sovereign Risk, Developed Democracies and Financial Crisis 2. Sovereign Risk and the Debt Crisis in the Eurozone 3. The Focus of the Book 4. The Approach in the Book 5. Outline of the Book PART II: BOND SPREADS, EMU DESIGN AND THE RUN-UP TO THE CRISIS 1. Introduction 2. Adaptive Markets and Sovereign Risk Models 3. The Political Sources of Sovereign Credibility in Financial Markets 4. International Influences on Sovereign Risk Perceptions 5. Theoretical Pillars PART III: BOND SPREADS, EMU DESIGN AND THE RUN-UP TO THE CRISISi. Introduction 1. Government Bond Spreads and EMU Design 2. Greece and Ireland: The Macro and Political Economy 3. Politics and Spreads Before 2008 PART IV: THE GREEK SOVEREIGN DEBT CRISIS 1. Introduction 2. Evolving Investment Analysis and the Greek Sovereign Debt Crisis 3. Domestic Political Economy of the Greek Sovereign Debt Crisis 4. International Political Economy of the Greek Sovereign Debt Crisis 5. Key results from the Greek Case Study PART V: THE IRISH SOVEREIGN DEBT CRISIS 1. Introduction 2. Evolving Investment Analysis and the Irish Sovereign Debt Crisis 3. Domestic Political Economy of the Irish Sovereign Debt Crisis 4. International Political Economy of the Irish Sovereign Debt Crisis 5. Key results from the Irish Case Study PART VI: THE IPE OF THE EUROZONE SOVEREIGN DEBT CRISIS 1. Introduction 2. Lessons from the Greek and Irish Cases 3. Application to other Eurozone Sovereigns 4. Next Steps in IPE Research 5. Implications for Policy 6. Final Remarks

Reviews

Silvia Pepino's arguments are highly appreciable and well-researched. The methodologies that she employs and the empirical evidences that she presents qualify the work to claim an inimitable status. - Rajeesh Kumar, Jawaharlal Nehru University, India Sovereign debt crises are relatively rare events, particularly among advanced democracies. In this careful and original study of the pivotal Eurozone crisis, Silvia Pepino shows in detail how domestic and international political factors shape market perceptions of sovereign risk. This book should be read by all those interested in how markets and politics interrelate. - Andrew Walter, University of Melbourne, Australia This is an important, as well as obviously timely, advance in our understanding of investor perceptions of sovereign credit risk in general and the Euro area crisis in particular. By demonstrating that the focus of investment analysis can change over time, and broaden as default becomes a possibility, Pepino contributes to a necessary move beyond the developed / emerging market dichotomy. - Iain Hardie, University of Edinburgh, UK The North-Atlantic financial crisis of 2007-8 has thrown up new research questions. One such question is how high-income countries within a hard currency area could become the target of speculative financial attacks typical of emerging markets. This book makes a timely and well-researched contribution to answering this question. It provides evidence that political news played more of a role in these attacks than received wisdom has it. - Waltrauld Schelkle, London School of Economics and Political Science, UK


Silvia Pepino's arguments are highly appreciable and well-researched. The methodologies that she employs and the empirical evidences that she presents qualify the work to claim an inimitable status. - Rajeesh Kumar, Jawaharlal Nehru University


Silvia Pepino's arguments are highly appreciable and well-researched. The methodologies that she employs and the empirical evidences that she presents qualify the work to claim an inimitable status. - Rajeesh Kumar, Jawaharlal Nehru University, India Sovereign debt crises are relatively rare events, particularly among advanced democracies. In this careful and original study of the pivotal Eurozone crisis, Silvia Pepino shows in detail how domestic and international political factors shape market perceptions of sovereign risk. This book should be read by all those interested in how markets and politics interrelate. - Andrew Walter, University of Melbourne, Australia This is an important, as well as obviously timely, advance in our understanding of investor perceptions of sovereign credit risk in general and the Euro area crisis in particular. By demonstrating that the focus of investment analysis can change over time, and broaden as default becomes a possibility, Pepino contributes to a necessary move beyond the developed / emerging market dichotomy. - Iain Hardie, University of Edinburgh, UK The North-Atlantic financial crisis of 2007-8 has thrown up new research questions. One such question is how high-income countries within a hard currency area could become the target of speculative financial attacks typical of emerging markets. This book makes a timely and well-researched contribution to answering this question. It provides evidence that political news played more of a role in these attacks than received wisdom has it. - Waltrauld Schelkle, London School of Economics and Political Science, UK


Author Information

Dr Silvia Pepino is Senior Adviser at the Bank of England, UK. Previously, she worked at JPMorgan and at leading global macro funds. She has frequently been quoted in the international media. She holds a PhD from the London School of Economics and Political Science, the TRIUM MBA degree from New York University-Stern, HEC Paris and the LSE, and an MSc from Bocconi University in Milan.

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