Tracked shipping to South Africa with premium packaging for just R199 

Ship to
South Africa
0

My Account

  • argentina
  • chile
  • colombia
  • españa
  • méxico
  • perú
  • estados unidos
  • internacional

menu

Select your country

Americas

Europe

Rest of the world

portada Lending to the Borrower From Hell: Debt, Taxes, and Default in the age of Philip ii (The Princeton Economic History of the Western World)
Type
Physical Book
Publisher
Author
Year
2016
Language
English
Pages
330
Format
Paperback
ISBN13
9780691173771
Categories

Lending to the Borrower From Hell: Debt, Taxes, and Default in the age of Philip ii (The Princeton Economic History of the Western World)

Mauricio Drelichman (Author) · Princeton University Press · Paperback

Lending to the Borrower From Hell: Debt, Taxes, and Default in the age of Philip ii (The Princeton Economic History of the Western World) - Mauricio Drelichman

Cheaper New Book Imported to South Africa
Delivery: 07 Sep - 18 Sep Shipping: 12 to 16 business days.
R 718
Faster New Book Imported to South Africa
Delivery: 09 Sep - 17 Sep Shipping: 14 to 15 business days.
R 851
R 718

Choose the list to add your product or create one New List

Go to My Wishlists
Calculate shipping cost

Synopsis "Lending to the Borrower From Hell: Debt, Taxes, and Default in the age of Philip ii (The Princeton Economic History of the Western World) "

Why do lenders time and again loan money to sovereign borrowers who promptly go bankrupt? When can this type of lending work? As the United States and many European nations struggle with mountains of debt, historical precedents can offer valuable insights. Lending to the Borrower from Hell looks at one famous case--the debts and defaults of Philip II of Spain. Ruling over one of the largest and most powerful empires in history, King Philip defaulted four times. Yet he never lost access to capital markets and could borrow again within a year or two of each default. Exploring the shrewd reasoning of the lenders who continued to offer money, Mauricio Drelichman and Hans-Joachim Voth analyze the lessons from this important historical example. Using detailed new evidence collected from sixteenth-century archives, Drelichman and Voth examine the incentives and returns of lenders. They provide powerful evidence that in the right situations, lenders not only survive despite defaults--they thrive. Drelichman and Voth also demonstrate that debt markets cope well, despite massive fluctuations in expenditure and revenue, when lending functions like insurance. The authors unearth unique sixteenth-century loan contracts that offered highly effective risk sharing between the king and his lenders, with payment obligations reduced in bad times. A fascinating story of finance and empire, Lending to the Borrower from Hell offers an intelligent model for keeping economies safe in times of sovereign debt crises and defaults.

Customers reviews

More customer reviews
  • 0% (0)
  • 0% (0)
  • 0% (0)
  • 0% (0)
  • 0% (0)

Frequently Asked Questions about the Book

Is the book original?

All books in our catalog are Original.

In what language is the book written?

The book is written in English.

What is the format of this book?

The binding of this edition is Paperback.

Questions and Answers about the Book

Do you have a question about the book? Login to be able to add your own question.

Opinions about Bookdelivery

More customer reviews