Oil, dollars, debt, and crises : the global curse of black gold

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Bibliographic Information

Oil, dollars, debt, and crises : the global curse of black gold

Mahmoud A. El-Gamal, Amy Myers Jaffe ; foreword by James A. Baker III

Cambridge University Press, 2010

  • : hardback
  • : pbk

Available at  / 17 libraries

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Note

Includes bibliographical references (p. 210-215) and index

Description and Table of Contents

Description

Oil, Dollars, Debt, and Crises studies the causes of the current oil and global financial crisis and shows how America's and the world's growing dependence on oil has created a repeating pattern of banking, currency, and energy-price crises. Unlike other books on the current financial crisis, which have focused on US indebtedness and American trade and economic policy, Oil, Dollars, Debt, and Crises shows the reader a more complex picture in which transfers of wealth to and from the Middle East result in a perfect storm of global asset and financial market bubbles, increased unrest, terrorism and geopolitical conflicts, and eventually rising costs for energy. Only by addressing long-term energy policy challenges in the West, economic development challenges in the Middle East, and the investment horizons of financial market players can policymakers ameliorate the forces that have been causing repeating global economic crises.

Table of Contents

  • 1. The challenges of resource curses and globalization
  • 2. New Middle East: childhood 1973-84 and adolescence 1985-95
  • 3. Road to the status quo: 1996-2008
  • 4. Globalization of Middle East dynamics
  • 5. Dollars and debt: the end of the dollar era?
  • 6. Motivations to attack or abandon the dollar
  • 7. Resource curses, global volatility, and crises
  • 8. Ameliorating the cycle
  • Conclusion.

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