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Download Freedom and Finance: Democratization and Institutional by Mary Ann Haley (auth.) PDF

Posted On April 11, 2017 at 7:40 pm by / Comments Off on Download Freedom and Finance: Democratization and Institutional by Mary Ann Haley (auth.) PDF

By Mary Ann Haley (auth.)

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Hedge-fund managers do not buy directly into anyone corporation through stock, but rather invest in the expectation of a country's success or failure. Hedge funds, utilized by multinational corporations to reduce their risk exposure to foreign currencies, have increased dramatically in this era of globalization. The 1998 demise of Long-term Capital Corporation revealed the extent to which even large securities firms relied on the expertise of currency traders to cover their international exposures.

He defines the herd as 'millions of investors moving money around the world with the click of a mouse' (Friedman 1999: 11). In an imagined response to Malaysian Prime Minister Dr. Mahathir Mohamad's September 1997 denouncement of George Soros and other financiers for the crash 24 Institutional Investors as Political Actors 2S in the ringitt, for instance, Friedman predicts Robert Rubin would have said: And the most basic truth is this: No one is in charge - not George Soros, not 'Great Powers' and not 1.

In the second stage, Armijo theorizes the potential impact of these capital inflows on four intermediate variables, economic growth, political resources, financial crises and pressure for neo-liberal policies. One of the premises of this argument is that different types of capital inflows strengthen different domestic political actors. Hence, capital inflows impact democratization through the strengthening of the domestic reCipient. Foreign capital will either increase or decrease the power of domestic political actors.

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