Financial globalisation, state autonomy and modern financial instruments: The case of Brazil

Globalizations

Volumn 6, Issue 4, 2009, Pages 433-449

  Mullins, Martin ^a   Murphy, Finbarr ^a  

^a UNIVERSITY OF LIMERICK   (Ireland)

Author keywords

Brazil; Credit default swap; Financial markets; Globalisation; Inflation linked bonds

Indexed keywords

EID: 79956164459     PISSN: 14747731     EISSN: 1474774X     Source Type: Journal    
DOI: 10.1080/14747730903298645     Document Type: Article

References (34)

1. Ammer, J. & Cai, F. (2007) Sovereign CDS and bond pricing dynamics in emerging markets: Does the cheapest-todeliver option matter? Federal Reserve Board International Finance, Discussion Paper No. 912.
2. Barrett, R. & Ewan, J. (2006) BBA Credit Derivatives Report 2006. British Bankers' Association.
3. Benaben, B. (ed.) (2005) Inflation-Linked Products: A Guide for Investors and Asset & Liability Managers (London: Risk Books).
4. Costa Vaz, A. (2003) El Gobierno de Lula Una Nueva Política Exterior, Nueva Sociedad, 187, pp. 139-152.
5. Dages, G. B., Palmer, D. & Turney, S. (2005) An overview of the emerging market credit derivatives market, Federal Reserve Bank of New York, Discussion Paper.
6. Effenberger, D. (2004) Credit derivatives: effects on the stability of financial markets, Deutsche Bank, Discussion Paper.
7. Ferguson, Y. (2006) The crisis of the state in a globalizing world, Globalizations, 3(1), pp. 5-8.
8. Gelpern, A. (2008) Domestic bonds, credit derivatives, and the next transformation of sovereign debt, Chicago-Kent Law Review, 83(1), pp. 147-178.
9. Hays, J. C., Freeman, J. R. & Nesseth, H. (2003) Exchange rate volatility and democratization in emerging market countries, International Studies Quarterly, 47(2), pp. 203-228.
10. Held, D. (2005) At the global crossroads: the end of the Washington Consensus and the rise of the global social democracy, Globalizations, 2(1), pp. 95-113.
11. Herrera, S. (2005) Policy mix, public debt management and fiscal rules: Lessons from the 2002 Brazilian crisis, World Bank Policy Research Working Paper 3512, February.
12. Hoogvelt, A. (2006) Globalizations and post-modern imperialism, Globalizations, 3(2), pp. 159-174.
13. IMF (2004) Global Financial Stability Report: Market Developments and Issues, International Monetary Fund.
14. IMF (2007) Global Financial Stability Report: Market Developments and Issues, International Monetary Fund.
15. Klom, A. (2003) Mercosur and Brazil: A European perspective, International Affairs, 79, pp. 351-168.
16. Koelble, T. A. & LiPuma, E. (2006) The effects of circulatory capitalism on democratization: Observations from South Africa and Brazil, Democratization, 13, pp. 605-631.
17. Mantega, G. (2007a) Statement to International Monetary and Financial Committee, 20 October in Washington. http://www.imf.org/External/AM/2007/imfc/statement/eng/bra.pdf
18. Mantega, G. (2007b) Interviewed by Richard Lapper for Financial Times, 22 February.
19. Mullins, M. (2006) In the Shadow of the Generals: Foreign Policy Making in Argentina, Brazil and Chile (Aldershot: Ashgate).
20. Mullins, M., Murphy, F. & Garvey, J. F. (2008) Do credit derivatives dampen political risk: The case of Brazil post 1998, Journal of Globalization, Competitiveness and Governability, 2(2), pp. 46-59.
21. Murno, J. (2004) EMTA Survey: Emerging markets credit derivative transactions at US$197 billion in 2003. http://www.emta.org/ndevelop/Press_Release_2003_CD.pdf
22. Murno, J. (2008) EMTA Survey: Emerging markets debt trading at US$6.489 trillion in 2007. http://www.emta.org/ndevelop/press_release_4q07b.pdf
23. Nieto Parra, S. (2008) Public debt management and political cycles: Challenges for Latin America, Insights 78, OECD. http://www.oecd.org/dataoecd/18/61/41561399.pdf
24. Oakley, D. (2008) Brazil prices bond deals at lower spreads than Buffet, Financial Times, 14 May.
25. Preda, A. (2007) The sociological approach to markets, Journal of Economic Surveys, 21(3), pp. 506-533.
26. Skidmore, T. E. (1988) The Politics of Military Rule (Oxford: Oxford University Press).
27. Stiglitz, J. (2006) Making Globlization Work (London: Penguin).
28. Strange, S. (2004) The declining authority of states, in Frank J. Lechner & John Boli (eds) The Globalization Reader (Oxford: Blackwell), pp. 219-230.
29. Tabak, B. M. & Staub, R. B. (2007) Assessing financial instability: The case of Brazil, Research in International Business, 21, pp. 188-202.
30. Torbat, A. E. (2008) Global financial meltdown and the demise of neoliberalism, Global Research, http://www.chebayadkard.com/chebayadkard/sokhan/20081020/tarjomeh242.pdf
31. Underhill, G. R. D. & Zhang, X. (2008) Setting the rules: private power, political underpinnings, and legitimacy in global monetary and financial governance, International Affairs, 84(3), pp. 535-544.
32. Upper, C., Gallardo, P. & Mallo, C. (2007) Triennial and semiannual surveys on positions in global over-the-counter (otc) derivative markets at end-June 2007, Bank for International Settlements.
33. Wahrendroft Caldas, R. (1998) Brazil in the Uruguay Round (Aldershot: Ashgate).
34. Zhu, H. (2006) An empirical comparison of credit spreads between the bond market and the credit default swap market, Journal of Financial Services Research, 29, pp. 211-235.