This is both a fascinating personal narrative of the often colorful warriors rebuilding a part of war-torn Yugoslavia, and a detailed inside look at how experts can stabilize a nation's currency and banking system. Written by an American who has led International Monetary Fund advisory missions to the central banks of more than twenty countries, this book, crafted in layman's language - but of immense value to specialists in monetary and foreign policy initiatives - is an account of the behind-the-headlines work American and other economists do to bring peace and prosperity to former failed states.Coats was involved in the creation of the Central Bank of Bosnia from before the Dayton Peace Accords. His "currency board" rules for monetary policy, and the creation of the bank, have resulted in the most successful state institution in the country.Marking the tenth anniversary of the bank, the technical world of economics comes alive as the book unfolds like a mystery novel full of colorful and determined people determined to escape the disaster of a bloody civil war.

This book written by leading academics and practitioners in the field brings together cutting edge research on exchange rate regime and monetary union issues. There is a particular focus on the implications for member states of the Gulf Cooperation Council (GCC) which is itself working towards forming a monetary union for the Gulf States. The relatively dramatic movements in the US dollar in the recent past, and also in the early 1990s, have called the practice of pegging to the US dollar into question for a group of countries that predominantly rely on hydrocarbons as their primary export. The book considers the key issues which must be addressed by the GCC in trying to form a monetary union for the Gulf countries and also the rigid pegging of member states currencies to the US dollar. The proposed monetary union raises clear issues in terms of the appropriateness of such a regime for these countries and whether, for example, the necessary institutional mechanisms are in place ahead of the proposed union. Currency Union and Exchange Rate Issues brings together the perspectives of a group of experts who focus on these important issues, and provide analysis of the policy options. Academics, policymakers and postgraduates in international finance will find much to consider and learn from in this informative book.

Money has the power to make nations and fuel wars. It is both the subject of diplomacy and the tool of those seeking to overthrow hostile regimes at home and abroad. Germany's hyperinflation following the First World War has entered the public consciousness as an extreme example of what can happen to a currency in conflict. What is not widely known is that it is by no means the worst case of war-induced hyperinflation. Hostile Money looks at the impact of war and revolution on national currencies – from Rome's civil war in the first century BC to the twenty-first-century invasions of Afghanistan and Iraq by American-led forces and the economic sanctions and cyberwarfare of today.

This book explores the hypothesis of the emergence of a ‘dependent capitalism’ in Central and Eastern Europe. In a first theoretical part, this book presents the main approaches that structure the field of comparative capitalism and then examines this model shaped by the inflow of foreign capital. In an original way, it proposes to integrate the form of the monetary regime into the dependent capitalism analysis and to extend it to Balkan countries. The monetary regime is seen as complementary to the other elements of the institutional configuration of dependent capitalism. In the second part, the authors adopt a historical and empirical perspective. First, they demonstrate how dependent capitalism has emerged in Central and Eastern Europe and the Baltic States over the last 30 years as part of the process of socio-economic transformation that began in 1990. The crisis of 2008 was an indicator of this dependence on Western capital. Secondly, they extend the analysis to the Balkan countries and show that dependence is even stronger for them, particularly in the monetary area, as evidenced by the implementation of currency boards or euroization phenomena. This book is of interest to academics and students, as well as to business and economic policy makers.

Setting macroeconomic policy is especially difficult in fragile states. Macroeconomic Policy in Fragile States addresses the many issues involved and considers ways to improve the effectiveness of macroeconomic management in the face of these constraints.

the adaptation of the institutional settings of monetary policy to deal with an emerging market economy had to be carried out in the midst of an unprecedented stabilization effort and, therefore, was particularly urgent and complicated. In many of the transition countries, the transformation effort implied not just changes in procedures but the establishment of a central bank from scratch, a process that involved an important effort, precisely at a time when the whole system was in serious turmoil. While the process of reforms is not yet completed in all the transition countries, an immense amount of progress has been achieved, and many of the transition countries face today monetary and central banking conditions that are close to those of Western economies. In this volume, we collect a number of important contributions that discuss the most burning aspects of the current debates on central banking and monetary policy and draw implications for the postsocialist transition economies. The various papers included in the volume deal with a broad set of related issues, which are highly relevant not just for transition economies but for other emerging markets and for advanced economies as well. The subjects covered in the book are divided into seven major categories (Sections II to VIII), some of which overlap.

Thoroughly revised, updated, and expanded, The SAGE Encyclopedia of Business Ethics and Society, Second Edition explores current topics, such as mass social media, cookies, and cyber-attacks, as well as traditional issues including accounting, discrimination, environmental concerns, and management. The new edition also includes an in-depth examination of current and recent ethical affairs, such as the dangerous work environments of off-shore factories for Western retailers, the negligence resulting in the 2010 BP oil spill, the gender wage gap, the minimum wage debate and increasing income disparity, and the unparalleled level of debt in the U.S. and other countries with the challenges it presents to many societies and the considerable impact on the ethics of intergenerational wealth transfers. Key Features Include: Seven volumes, available in both electronic and print formats, contain more than 1,200 signed entries by significant figures in the field Cross-references and suggestions for further readings to guide students to in-depth resources Thematic Reader′s Guide groups related entries by general topics Index allows for thorough browse-and-search capabilities in the electronic edition

Reflecting a strong managerial orientation, a corporate emphasis, and a true global-local focus, International Business: Managing Globalization explains the 'whats' and 'whys' of global differences as it covers industries, competitors, regions, and markets from the perspectives of practicing managers. Author John S. Hill reviews the geographic and historic backgrounds of regions and markets in a way that no other text has done, with special focus on global supply chains, global branding, and world religions as they affect management at the local level. It integrates business topics and environmental analysis into a strategic, global-local framework. It places current events in focus by covering history and geography as they affect international business. It includes a unique chapter on global industry and competitor analysis, a common business tool, but a topic not covered in other texts. It covers religion as a key determiner of behaviors worldwide to help readers understand why behaviors differ depending on the local context. It focuses on corporate analysis, planning, and internationalization, vital corporate practices rarely covered in other textbooks. It includes short cases for undergraduates and longer cases for graduate students. International Business: Managing Globalization is ideal for the introduction to business course or for courses focusing on international or global business strategy

Offers an account of a man who started wars, whose rhetoric whipped up Serb nationalism to a frenzy of "ethnic cleansing" and yet who retained for a decade the ability to wrap the "international community" round his little finger.

This book studies the processes which lead to explosion of civil strife and tries to spell out the policy options available to address the challenges faced by post-conflict economies. It calls for a more integrated policy approach which can gradually repair trust in public institutions as it addresses the vulnerabilities and grievances that helped start the process. Usually, such societies do not have the luxury of meeting the goals of security, reconciliation and development in a measured or sequenced manner: to avoid an immediate return to violence they must begin the recovery process on all fronts simultaneously.