Jean Tirole

Once upon a time, economists saw capital account liberalisation—the free and unrestricted flow of capital in and out of countries—as unambiguously good. Good for debtor states, good for the world economy. No longer. Spectacular banking and currency crises in recent decades have shattered the consensus. In this remarkably clear and pithy volume, one of Europe's leading economists examines these crises,...

Jean Tirole, Winner of the 2014 Nobel Prize in Economics Selected for Bloomberg View's "Must-Reads of 2017: Monopolies, Sexism and Economics One of Financial Times (FT.com) Best Books of 2017: Economics Longlisted for the 2017 Financial Times and McKinsey Business Book of the Year Award One of Bloomberg's Best Books of 2017 One of Choice Reviews' Outstanding Academic Titles of...

The past twenty years have seen great theoretical and empirical advances in the field of corporate finance. Whereas once the subject addressed mainly the financing of corporations—equity, debt, and valuation—today it also embraces crucial issues of governance, liquidity, risk management, relationships between banks and corporations, and the macroeconomic impact of corporations. However, this progress has left in its wake a...