Cover -- Half-title -- Series-title -- Title -- Copyright -- Dedication -- Contents -- List of Tables -- List of Figures -- Acknowledgments -- Part one Preamble -- 1 Global Capital Markets: Overview and Origins -- 1.1 Theoretical benefits -- 1.1.1 International risk sharing -- 1.1.2...

Two separate narratives have emerged in the wake of the Global Financial Crisis. One speaks of private financial excess and the key role of the banking system in leveraging and deleveraging the economy. The other emphasizes the public sector balance sheet over the private and worries about the...