The latest financial crisis highlighted several problems with credit derivatives and raised questions about the effectiveness of Credit Rating Agencies´ (CRAs) assessment of risks in rating complex financial products such as Collateralized Debt Obligation
This publication analyzes policy measures taken to curb the private sector credit growth in the period 2003-2008. The work evaluates the excessiveness of the credit development in Central and Eastern Europe (Cee) with respect to macroeconomic fundamentals
This study was motivated by the need to determine the key factors that influence credit demand and credit rationing in the informal financial markets so as to contribute to policy formulation to improve access for the poor in Uganda to the broader (formal
Excerpt from Credit of the Government: Speech of Hon. D. W. Voorhees, of Indiana, in the Senate of the United States, January 15, 1878 And in pursuance of a notice then given I now call it up for the purpose of discussing the subject to which it relates. The agitation of the question of finance has continued without a moment´s intermission from the commencement of our present sys tem until this hour. Nor is it likely to cease for many years to come. In fact it will never cease until the people are satisfied that our vast debt is in process of extinction upon principles of justice to tax-paying labor, or until on the other hand, they are subjugated into silent submission and the Government itself becomes changed in spirit and form into a moneyed aristocracy. It may be that this latter alternative is to overtake us. There are dark and plentiful omens in our recent history indicating such a conclusion, and there is a numerous and powerful class in our´midst who believe, as Alex ander Hamilton declared, that the British government, on this as well as on other points, is the best ever devised by the wisdom of man. Those entertaining this Opinion have thus far triumphed in the financial legislation of the United States and the time has now arrived when their victories must be reversed or soon this Govern ment will cease to be republican and the people no longer be free. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.
This volume investigates the use of mortgages in the European countryside between the thirteenth and eighteenth centuries. A mortgage allowed a loan to be secured with land or other property, and the practice has been linked to the transformation of the agrarian economy that paved the way for modern economic growth. Historians have viewed the mortgage both positively and negatively: on the one hand, it provided borrowers with opportunities for investment in agriculture; but equally, it exposed them to the risk of losing their mortgaged property. The case studies presented in this volume reveal the variety of forms that the mortgage took, and show how an intricate balance was struck between the interests of the borrower looking for funds, and those of the lender looking for security. It is argued that the character of mortgage law, and the nature of rights in land in operation in any given the place and period, determined the degree to which mortgages were employed. Over time, developments in these factors allowed increasing numbers of peasants to use mortgages more freely, and with a decreasing risk of expropriation. This volume will be appealing to academics and researchers interested in financial history, credit and debt.