The Global Bankers
Roy C. Smith
Truman Talley Books/Plume, New York, NY, USA, 1990, vii + 405 pp., $22.50 (paper $10.95).
For global banking institutions and their bankers, the past 15 years have brought enormous changes, changes that have simultaneously managed to both enlarge and dramatically contract their world. This book chronicles these developments in a highly readable and anecdotal style, providing useful insights—from a practitioner’s point of view—about how the new breed of bankers manage the vast sums of money flowing around the globe. The author, formerly with Goldman Sachs (now a professor at New York University), focuses on each of the three continental centers—New York, London, and Tokyo—bringing to life such issues as Japan’s major investment in US industry, Germany’s potentially dominant role in Europe, the impact of Third World debt on US banks, foreign involvement in Wall Street’s high stake mergers, the Japanese ethic and bargaining methods, the huge Eurobond market, and London’s “Big Bang.” He concludes with a look at the megatrends that may shape the years ahead—one having to do with technology, the other with how people choose to live—noting that “the frontier days are not yet over.”
Technology Systems for Small Farmers: Issues and Options
Abbas M. Kesseba (editor)
Westview Press, Boulder, CO, USA, 1990, xiii + 229 pp., $19.95.
If extension systems are the transmission gears connecting agricultural research and the small farmer, development experience suggests that it is about time to go to the mechanic. This collection of essays about how to improve agricultural research and extension originated in papers from a 1988 seminar on “The Generation and Transfer of Technology for Poor Small Farmers” organized by the International Fund for Agricultural Development. They have since been revised and supplemented with additional information. The main concerns uniting the essays are that despite widespread awareness of the importance of small farmers for national economies, and the growth of on-farm research programs, the system involving research, extension, and the farmer is not delivering the goods. The contributors seek to explain the conceptual and practical reasons for this failure and suggest many ways out of the problem.
European Banking in the 1990s
Jean Dermine (editor)
Basil Blackwell, Cambridge, MA, USA, 1990, viii + 476 pp., $69.95.
Investment Banking in Europe
Igno Walter and Roy C. Smith
Basil Blackwell, Cambridge, MA, USA, 1990, v + 169 pp., $60.
At a time when Europe is going through many changes and the process of European integration is gathering pace, these books provide a substantive sober analysis of the likely effects of 1992 on international financial services. The volume edited by Jean Dermine consists of fourteen papers, each followed by a commentary, and discusses some of the key issues faced by European bankers. The contributors address the pattern of regulation likely to emerge in Europe, the developments in the equity markets and in investment banking, and the impact of integration on the Euromarkets. The structural effects of financial integration in the banking market of France, Italy, Spain, Portugal, Switzerland, and the Federal Republic of Germany are also discussed. The last section illustrates the lessons that can be drawn from the integration of interstate banking in the United States. Of related interest, the second book assesses the directions of EC economic and financial restructuring in the 1990s. Backed by a wealth of original data, the authors predict a major growth in the following areas: underwriting, corporate financial advisory services (including mergers and acquisitions, breakups, and leveraged buyouts), secondary market brokerage and trading, and investment management services.
Other Books Received
Listed below are some of the books we received in 1990 but were unable to review because of lack of space.
Mariane Berg (editor) Political Economy in the Twentieth Century, Barnes and Noble Books, Savage, MD, USA, 1990, vi + 164 pp., $33.75.
Gilbert Blardone, Le Fonds Monètaire International: I’Ajustement et les Couts de I’Homme, Les Editions del L’Epargne, Paris, France, 1990, 133 pp., FF180.
Jan Bojo, Karl-Goran Maler, and Lena Unemo, Environment and Development: An Economic Approach, Klumer Academic Publishers, Boston, MA, USA, 1990, viii + 167 pp., $57.
Thomas Grennes (editor), International Financial Markets and Agricultural Trade, Westview Press, Boulder, CO, USA, 1989, vi + 306 pp., $38.50.
James R. Lincoln and Arne L. Kalleberg, Culture, Control and Commitment: A Study of Work Organization and Work Attitudes in the United States and Japan, Cambridge University Press, New York, NY, USA, 1990, viii + 286 pp., $44.50.
Raul L. Madrid, Over-Exposed: US Banks Confront the Third World Debt Crisis, Investor Responsibility Research Center Inc., Washington, DC, USA, 1990, xii + 260 pp., $40.
William Nicoll and Trevor C. Salmon, Understanding the European Communities, Barnes and Noble Books, Savage, MD, USA, 1990, vi +264 pp., $42.50.
R.H. Rolf Seringhaus and Philip J. Rosson, Government Export Promotion, Routledge, New York, NY, USA, 1989, xx + 195 pp., $49.95.
Peter Skott, Conflict and Effective Demand in Economic Growth, Cambridge University Press, New York, NY, USA, 1989, x + 175 pp. $34.50.
Michael Steinberg (editor), The Technical Challenges and Opportunities of a United Europe, Barnes and Noble Books, Savage, MD, USA, 1990, 195 pp., $36.50.
Statement of Ownership, Management, and Circulation required by 39 USC 3685.
1a. Title: Finance & Development. 1b. Publication No. 123-250.2. Date of filing: 9/24/90.3. Frequency: Quarterly. 4. Complete mailing address of known office of publication: Finance & Development, International Monetary Fund, Washington, DC 20431.
5. Complete mailing address of the headquarters of general business offices of the Publisher: International Monetary Fund and the International Bank for Reconstruction and Development, Washington, DC 20431.
6. Full names and complete mailing address of Publisher and Editor: Publisher: International Monetary Fund and International Bank for Reconstruction and Development, Washington, DC 20431; Editor: Shuja Nawaz, same address.
7. Owner: International Monetary Fund and the International Bank for Reconstruction and Development, Washington, DC 20431.
8. Known bondholders, mortgagees, and other security holders owning or holding 1 percent or more of the total amount of bonds, mortgages, or other securities: None.
|9. Extent and nature of circulation||Average no. of copies each issue in preceding 12 months||Actual no. of copies of single issue published nearest to filing date|
|A. Total no. of copies||58,250||56,000|
|B. Paid and/or requested circulation||—||—|
|C. Total paid and/or requested circulation||46,200||43,060|
|D. Free distribution by mail, carrier|
|or other means|
|Samples, complimentary and|
|other free copies||11,325||11,295|
|E. Total distribution (sum of C and D)||57,525||54,355|
|F Copies not distributed||725||1,645|
|G. Total (sum of E and F)||58,250||56,000|
I certify that the statements made by me above are correct and complete.
Shuja Nawaz, Editor