Suchergebnisse

This paper covers the long-term evolution of the primary market for foreign government debt. We discuss the role of financial intermediaries as underwriters and distributors of securities, providers of information, and lending of last resort services since the early 19th century, and the evolution of this role. We underscore the role of the prestige of global financial brands in sustaining early foreign debt markets and its weakening in the modern era.

From the introduction: In his characteristically challenging manner, Professor Raj Bhala confronts us with a strong thesis: that the Doha Development Round ("DDR") is a failed counterinsurgency operation. Bhala argues that the DDR was launched to spur development and reduce poverty—particularly among Muslims—and thereby increase security in a post-9/11 world, only to fall back into the all too predictable pattern of powerful states pursuing their national interest (narrowly conceived).