主编推荐语
本书是《主权债务简史》一书的英文版,描绘过去40多年全球金融图景。
内容简介
欧洲债务危机重新点燃了有关金融力量的长期争论,以及全球化世界中资本主义与民主之间令人担忧的关系。
本书回答了这些争论的核心问题:为什么尽管危机频频发生,偿还成本高昂,那么多债台高筑的国家仍然继续偿还国际债务?
在本书中,作者对主权债务政治经济学和国际危机管理展开了全面的调查。
从现代欧洲早期兴起的公共债务,到19世纪末的高度帝国主义及炮舰外交时代,再到大萧条时期导致国际资本市场崩溃的主权违约潮,本书生动描述了20世纪80年代和90年代各个国家的债务危机情况,并对欧元区内部的动荡,包括希腊短暂的反紧缩政府在2015年对其欧洲债权人的戏剧性屈服给出了新的解释。
本书通过深入研究国际政府财政的长期历史事件,并基于当代重要的三次主权债务危机的深入案例研究,让人们对近期的全球资本主义变革和全球金融架构中根深蒂固的债务履约与执行机制有了新的认识。
同时展示了过去40多年资本主义世界经济的深刻变革如何赋予私人和官方债权人前所未有的结构性权力,使他们能够在危机时期施加紧缩措施,并强制借款人不间断地还本付息,这给民主带来了破坏性的社会后果和深远影响。
目录
- COPYRIGHT
- Why Not Default?
- TABLES, FIGURES, AND BOXES
- TABLES
- FIGURES
- BOXES
- ACKNOWLEDGMENTS
- INTRODUCTION The Sovereign Debt Puzzle
- A VERY BRIEF HISTORY OF SOVEREIGN DEFAULT
- WHY DO GOVERNMENTS REPAY THEIR DEBTS?
- THE THREE ENFORCEMENT MECHANISMS OF DEBTOR COMPLIANCE
- CONSEQUENCES FOR INTERNATIONAL CRISIS MANAGEMENT
- PART I The Theory of Sovereign Debt
- ONE Why Do Countries Repay Their Debts?
- REPUTATION: THE THREAT OF LONG-TERM MARKET EXCLUSION
- SANCTIONS: ASSET SEIZURES, TRADE EMBARGOES, AND GUNBOAT DIPLOMACY
- INSTITUTIONS: CREDIBLE COMMITMENT AND DEMOCRATIC ADVANTAGE
- SPILLOVER COSTS: BANK RUNS, PRIVATE BORROWING, AND OUTPUT LOSSES
- TWO A Critical Political Economy Approach
- PROBLEMATIZING THE UNITARY AGENT ASSUMPTION
- DISTINGUISHING BETWEEN WILLINGNESS AND ABILITY TO PAY
- TOWARD A POLITICAL TYPOLOGY OF DEFAULT
- THREE The Structural Power of Finance
- BUSINESS POWER AND THE MODERN STATE
- THE STRUCTURAL DEPENDENCE OF THE STATE
- THE FINANCIALIZATION OF THE WORLD ECONOMY
- FOUR Three Enforcement Mechanisms
- THE MARKET DISCIPLINE IMPOSED BY THE CREDITORS' CARTEL
- THE CONDITIONAL LENDING OF OFFICIAL CREDITORS
- THE BRIDGING ROLE OF DOMESTIC ELITES
- PART II A Brief History of Sovereign Default
- FIVE The Making of the Indebted State
- THE RISE OF PUBLIC BORROWING
- THE CONTENTIOUS POLITICS OF REPAYMENT
- THE EMERGENCE OF INTERNATIONAL LENDING
- SIX The Internationalization of Finance
- THE INTERNATIONAL DEBT CRISIS OF THE 1820S
- SOVEREIGN DEFAULT IN THE ERA OF HIGH IMPERIALISM
- THE TWENTIETH-CENTURY TURN TO GUNBOAT DIPLOMACY
- THE STRUCTURAL POWER OF HAUTE FINANCE
- SEVEN From Great Depression to Financial Repression
- THE UNILATERAL DEBT MORATORIUMS OF THE 1930S
- INEFFECTIVENESS OF THE THREE ENFORCEMENT MECHANISMS
- LESSONS FROM THE HISTORY OF SOVEREIGN DEBT AND DEFAULT
- PART III The Lost Decade: Mexico (1982–1989)
- EIGHT Syndicated Lending and the Creditors' Cartel
- A CONCENTRATED AND INTERLOCKED LENDING STRUCTURE
- THE CREDIBLE THREAT OF THE CREDITORS' CARTEL
- NINE The IMF's "Triumphant Return" in the 1980s
- THE SITUATION SPINS OUT OF CONTROL
- THE FUND AS "COLLECTIVE CREDITOR" AND FISCAL DISCIPLINARIAN
- TEN The Rise of the Bankers' Alliance
- CONFLICTING POSITIONS ON THE EXTERNAL DEBT
- THE BANKERS' ALLIANCE STRIKES BACK
- ELEVEN "The Rich Got the Loans, the Poor Got the Debts"
- GREATLY REDUCED ROOM FOR MANEUVER
- THE BRADY DEAL AND THE RESOLUTION OF THE DEBT CRISIS
- "THE RICH GOT THE LOANS AND THE POOR GOT THE DEBTS"
- PART IV The Great Default: Argentina (1999–2005)
- TWELVE The Exception That Proves the Rule
- INTERNATIONAL LENDING IN THE LEAD-UP TO THE CRISIS
- THE RETURN OF THE COLLECTIVE ACTION PROBLEM
- THIRTEEN From IMF Poster Child to Wayward Student
- THE IMF'S EVOLVING ROLE IN THE CRISIS
- EMBRACING THE INEVITABILITY OF DEFAULT
- FOURTEEN The Rise and Fall of the Patria Financiera
- THE PRIVILEGED POSITION OF THE PATRIA FINANCIERA
- LEGITIMATION CRISIS AND ANTIAUSTERITY PROTEST
- "¡QUE SE VAYAN TODOS!"
- FIFTEEN "Even in a Default There Is Money to Be Made"
- OPENING AN UNIMAGINED SPACE FOR POLITICS
- NÉSTOR KIRCHNER AND THE 2005 DEBT RESTRUCTURING
- "EVEN IN A DEFAULT THERE IS MONEY TO BE MADE"
- PART V The Specter of Solon: Greece (2010–2015)
- SIXTEEN The Power of Finance in the Eurozone
- FINANCIAL MARKETS AS A "GLOBAL SUPRA-GOVERNMENT"?
- THE CREDIBLE THREAT OF A CREDIT CUTOFF
- SEVENTEEN Anatomy of a "Holding Operation"
- THE FIRST GREEK BAILOUT OF 2010
- THE IMF'S AWKWARD ROLE IN THE TROIKA
- THE SECOND PHASE OF THE CRISIS AND THE ROLE OF THE ECB
- EIGHTEEN The Establishment Digs In
- THE ENTANGLEMENT OF POLITICAL AND FINANCIAL ELITES
- THE STRENGTHENED POSITION OF THE "INTERNAL TROIKA"
- NINETEEN The Socialization of Greece's Debt
- THE TRANSFORMATION OF GREECE'S CREDITOR COMPOSITION
- WINNERS AND LOSERS FROM THE PSI DEBT RESTRUCTURING
- HIGHLY UNEQUAL DISTRIBUTION OF ADJUSTMENT COSTS
- TWENTY The Defeat of the Athens Spring
- THE LEAD-UP: THE THIRD MECHANISM BREAKS DOWN
- THE STAND-OFF: EXCLUDED FROM FOREIGN FINANCING
- THE RIFT: SYRIZA'S INTERNAL CONFLICTS ON THE DEBT QUESTION
- THE CLIMAX: "WE UNDERESTIMATED THEIR POWER"
- CONCLUSION Shaking Off the Burden
- THROTTLING DEMOCRACY
- SHAKING OFF THE BURDEN
- BITING THE BULLET
- "TAKING BACK CONTROL"
- APPENDIX A Word on Methodology
- REFERENCES
- INDEX
出版方
普林斯顿大学出版社
普林斯顿大学出版社成立于1905年,是一家与普林斯顿大学有着紧密合作关系的非营利出版机构。出版经过严格同行评议的书籍,致力于联结不同领域的作者和读者,以促进和丰富全球范围内跨文化的对话与交流。出版社在出版方面奉行最高的学术标准、包容性以及多样性。 普林斯顿大学出版社的书籍获奖无数,包括六次普利策奖,五次班克罗夫特奖,三次美国国家图书奖,以及数百个学术机构颁发的重量级奖项。数十位普林斯顿大学出版社的作者曾荣获各类世界上最负盛名的学术奖项,包括诺贝尔奖、菲尔兹奖和霍尔伯格奖。