In 1918, the Soviet revolutionary government repudiated the Tsarist regime's sovereign debt, triggering one of the biggest sovereign defaults ever. Yet the price of Russian bonds remained high for years. Combing French archival records, Kim Oosterlinck shows that, far from irrational, investors had legitimate reasons to hope for repayment. Soviet debt recognition, a change in government, a bailout by the French government, or French banks, or a seceding country would have guaranteed at least a partial reimbursement. As Greece and other European countries raise the possibility of sovereign default, Oosterlinck's superbly researched study is more urgent than ever.

This book is about realistic solutions for the threat of zero-interest rates and excessive liquidity. Central banks do not print growth. The financial crisis was much more than the result of an excess of risk. The same policies that created each subsequent bust are the ones that have been implemented in recent years. This book is about realistic solutions for the threat of zero-interest rates and excessive liquidity. The United States needs to take the first step, defending sound money and a balanced budget, recovering the middle-class by focusing on increasing disposable income. The rest will follow. Our future should not be low growth and high debt. Cheap money becomes very expensive in the long run. There is an escape from the central bank trap.

The latest edition of this book first published in 1987 - aimed at land managers, farmers, accountants, and those in rural finance, law and taxation.

This book is a practical guide to the subject of tax due diligence. It shows that tax due diligence is not a commodity, leading the reader through the process and explaining, at each stage, how to extract the maximum value from tax due diligence. Covering a wide range of transaction scenarios, the book deals with every aspect of tax due diligence. It is written from a UK perspective with reference to UK legislation. It also discusses cross border issues, Organization for Economic Co-operation and Development guidelines, and contains a chapter on an international survey of publicly available information. Contents include: what tax due diligence is and what it is not * the different circumstances in which tax due diligence is required and the implications of each * planning tax due diligence * defining scope and avoiding unnecessary tax due diligence * managing the tax due diligence process * obtaining and analyzing information * how best to address issues identified by tax due diligence * making the most of limited information tax due diligence in asset deals.

This book explores the system of financing local governments in selected countries of Central and Eastern Europe. Using evidence from the last two decades, the authors, experts on their particular countries, describe the development of the current local government finance system in each nation, and the major challenges and policy options they face. The contributions in this book provide comprehensive coverage of a transitional Europe that encompasses both modern local public finance theory and specific applications in the target countries. The book is a recommended read not only for students of local government and local public finance, but also practitioners and all those who have to deal with the accountability and financial issues at local government level in Central and Eastern Europe.

Using a framework of volatile markets Emerging Market Bank Lending and Credit Risk Control covers the theoretical and practical foundations of contemporary credit risk with implications for bank management. Drawing a direct connection between risk and its effects on credit analysis and decisions, the book discusses how credit risk should be correctly anticipated and its impact mitigated within framework of sound credit culture and process in line with the Basel Accords. This is the only practical book that specifically guides bankers through the analysis and management of the peculiar credit risks of counterparties in emerging economies. Each chapter features a one-page overview that introduces its subject and its outcomes. Chapters include summaries, review questions, references, and endnotes.

The history of customs duties reflects the development of the Qing fiscal system, especially in its transition from a rather traditional to a more modern economy. Mainly based on Qing archives, this book, the first research monograph on this subject in the English language, not only gives a brief introduction of each customs post's transformation over time, but also provides the complete statistical data of each of these post over the Qing dynasty. Contributors are: Bas van Leeuwen, Bozhong Li, Maaten Duijvendak, Martin Uebele, Peter Foldvari, Yi Xu.

In response to demographic change many countries in the European Union have reformed their pension systems. During the last two decades personal pensions have been introduced in Belgium, Denmark, France, Germany, Ireland, Italy, Poland, Sweden, and the UK. This book is a critical examination of the objectives of personal pensions in these countries and the use of tax incentives to encourage individuals to save for their retirement. It also includes discussion on personal pensions in the United States. The volume focuses on issues such as risk, administrative expense, and the role of tax allowances in encouraging personal pension provision. Based on the evidence from these countries it is concluded that expectations relating to the take up of personal pensions have not been met and that EU countries should not rely on personal pensions to improve income adequacy at the lower end of the income distribution. Academics and researchers teaching and studying employee benefits and pension costs - particularly in countries that have recently reformed their pension systems - will warmly welcome this book. Government bodies involved in pension reform and European Commission institutions concerned with the evolution and problems with pension policy within the EU will also find this book an informative and invaluable read.

Tettered Money: Managing Digital Currency Transactions presents a comprehensive discussion of financial transactions using digital currencies, with the author, Gideon Samid, making the case for their expansion in tethered money. Exploring the technical, legal, and historical aspects of digital money, the author discusses how the emerging technology of money specified for a specific need or to perform a particular task will affect society. The ability to dictate, Samid argues, how money is spent could increase control over our lives and resources, enabling us to practice a certain efficiency that would, in due time, become a pillar of civilization. Informative and thought-provoking, the book describes an evolving future that, in some quarters, has already arrived.

Within the highly successful Mankiw Economics franchise, this new fourth edition of Business Economics delivers a comprehensive overview and practical application of the principles of economics to business.

All the Mankiw titles are known for their friendly and accessible approach which is retained in this new edition’s unique business perspective, enabling economic theory to be applied to real world scenarios. Such an active learning approach ensures academic skills can be easily absorbed and transferred to the workplace.

This edition includes new chapters on business organization, supply chains and sustainability, together with a wealth of new and updated case studies and ‘In the News’ features throughout.

This is the autobiographical story of David Freud's accidental career in the City and how, after a bruising 20 years, he emerged as one of the most successful investment bankers of his generation. This is the inside story of some of the most interesting and controversial mega-deals of the period. He stayed at the sharp end of the business through his 20 year stint - conducting transactions in no fewer than 19 countries. Written with pace, humour and insight David Freud's lively account of his work and life in the City is as accessible to interested outsiders as it to those who have work there.

As more and more emerging markets seek to compete in an ever-growing pool of global competitors, rapidly growing economies are consistently running into issues relating to the proper understanding of fiscal markets. The future of global economics depends on the wellbeing of sustainable economic growth and the expansion of banking systems. Emerging Research on Monetary Policy, Banking, and Financial Markets is an essential reference source that discusses the complex nature of financial markets and the growth of developing economies. Featuring research on topics such as international markets, transition economies, and financial instability, this book is ideally designed for academicians, students, researchers, policymakers, professionals, financial analysts, and economists interested in the future of reformed worldwide banking systems.

Elgar Advanced Introductions are stimulating and thoughtful introductions to major fields in the social sciences, business and law, expertly written by the world's leading scholars. Designed to be accessible yet rigorous, they offer concise and lucid surveys of the substantive and policy issues associated with discrete subject areas. Fully revised and updated, this Advanced Introduction provides a comprehensive understanding of entrepreneurial finance of new and growing ventures. With a unique research-based focus, Hans Landstroem synthesizes contemporary knowledge and presents diverse theoretical approaches to explain financial decision-making in entrepreneurial ventures. New features include: An updated synthesis of knowledge on entrepreneurial finance, which highlights accumulated knowledge as well as new contributions in entrepreneurial finance research Emphasis on entrepreneurial finance from the perspective of both entrepreneurs as well as capital providers An elaboration of financial issues not only in high-tech and high growth ventures, but also in the financing of more 'everyday' ventures A consideration of the ways the financial landscape has changed, featuring analysis of the FinTech revolution, crowdfunding and initial coin offerings (ICOs). This second edition will serve as an excellent up-to-date resource for advanced students and scholars in entrepreneurship, innovation, finance, and business. Policy-makers interested in financial issues in young and growing ventures will also find this Advanced Introduction a useful tool for exploring financial decision-making from an entrepreneur's perspective.

The fall of the Soviet Union in 1991 brought enormous political, economic, and social challenges. Since 1991 fiscal reform has been a pillar of Russia's reform agenda. This book analyzes the effort to adopt a modern tax code where previously there were few recognizable taxes, establish an efficient tax administration where taxpayers had never paid taxes directly, and decentralize the system of governance where power had been centralized and dictatorial. Despite the remarkable achievements, many old and new challenges remain. The authors bring an analytical approach to fiscal reform in Russia, providing a detailed analysis of the tax system and estimates of tax compliance and evasion. The book offers a careful examination of the fiscal architecture of Russia and concludes with a presentation of remaining reform needs and options for Russia. Based on Russia's reform experience, the authors also draw lessons for fiscal reform in other developing and transitional countries. Given the dynamic nature of Russia's economic development, this book will prove a timely and informative resource for academics in economics, public finance, political science and public administration as well as for policy makers. Its lessons will also be useful for officials involved with finance in transition and developing countries.

Many students want an introduction to finance. Those who are quantitatively-oriented learners can benefit in particular from an introduction that puts more emphasis on mathematics and graphical presentations than on verbal descriptions. By illustrating core finance facts and concepts through equations and graphical material, Finance: A Quantitative Introduction can help people studying business management, marketing, accounting, and other subjects. By using few lengthy verbal explanations and many illustrations, it can teach readers quickly and efficiently.

If you've ever thought about succession planning and avoided it because it seemed too complex and daunting, this book is for you. If you're a business owner who has never thought about succession planning, this book is for you. This book is designed to be a primer, an overview of succession planning, written in language that you can understand. It will help you navigate the process of developing an effective succession plan for your business. In other words, it will help you pass the torch without getting scorched. I've had a lot of experience with succession planning and the consequences of the absence of a succession plan, and I know first-hand how critical is the need for effective succession planning for any business, large or small. My goal is to demystify this topic and present you, the reader, with basic concepts that will remove your fears and replace them with a solid platform for the legacy you wish to pass on to the next generation.