MARC Record from marc_columbia

LEADER: 03693mam a22005174a 4500
001 2369121
005 20220616031851.0
008 990317s1999 nyua b 001 0 eng
010 $a 99022900
015 $aGB99-W1466
020 $a080142884X (cloth : alk. paper)
035 $a(OCoLC)ocm41039837
035 $9APQ2136CU
035 $a(NNC)2369121
035 $a2369121
040 $aDLC$cDLC$dUKM$dC#P$dOKS$dOrLoB-B
042 $apcc
043 $aaw-----$an-us---
050 00 $aHG3883.A67$bS64 1999
082 00 $a382/.17/0973$221
100 1 $aSpiro, David E.$0http://id.loc.gov/authorities/names/nr89001484
245 14 $aThe hidden hand of American hegemony :$bpetrodollar recycling and international markets /$cDavid E. Spiro.
260 $aIthaca, N.Y. :$bCornell University Press,$c1999.
300 $axiv, 177 pages :$billustrations ;$c25 cm.
336 $atext$btxt$2rdacontent
337 $aunmediated$bn$2rdamedia
490 1 $aCornell studies in political economy
504 $aIncludes bibliographical references (p. 159-167) and index.
505 00 $g1.$tExplaining Petrodollar Recycling --$g2.$tDefining the Principles of Allocation --$g3.$tMaking Markets Work --$g4.$tThe Failure of International Institutions --$g5.$tCompeting for Capital --$g6.$tThe Interpretation of Hegemony.
520 1 $a"Between 1973 and 1980, the cost of crude oil rose suddenly and dramatically, precipitating convulsions in international politics. Conventional wisdom holds that international capital markets adjusted automatically and remarkably well: Enormous amounts of money flowed into oil-rich states, and efficient markets then placed that new money in cash-poor Third World economies. This massive reallocation of wealth is labeled petrodollar recycling."--BOOK JACKET.
520 8 $a"David Spiro has followed the money trail, and the story he tells, based on interviews and a painstaking accumulation of fragmentary evidence, contradicts the accepted beliefs both in the particulars and in broad outline. Most of the sudden flush of new oil wealth did not go to poor oil-importing countries around the globe.
520 8 $aInstead the United States made a deal with Saudi Arabia to sell it U.S. securities in secret, a deal resulting in a substantial portion of Saudi assets being held by the U.S. government. With this arrangement, the U.S. government violated its agreements with allies in the developed world. Spiro argues that American policy makers took this action to prop up otherwise intolerable levels of U.S. public debt.
520 8 $aIn effect, recycled OPEC wealth subsidized the debt-happy policies of the U.S. government as well as the debt-happy consumerism of its citizenry."--BOOK JACKET.
650 0 $aBalance of payments$zArab countries.
650 0 $aInvestments, Arab.$0http://id.loc.gov/authorities/subjects/sh85067728
650 0 $aPetroleum products$xPrices.$0http://id.loc.gov/authorities/subjects/sh85100451
650 0 $aInternational finance.$0http://id.loc.gov/authorities/subjects/sh85067405
610 20 $aOrganization of Petroleum Exporting Countries.$0http://id.loc.gov/authorities/names/n79071197
610 20 $aInternational Monetary Fund.$0http://id.loc.gov/authorities/names/n81052755
651 0 $aUnited States$xForeign economic relations.$0http://id.loc.gov/authorities/subjects/sh85140052
650 4 $aInvestments, Arab.
650 4 $aPetroleum products$xPrices.
650 4 $aBalance of payments$zArab countries.
651 4 $aUnited States$xForeign economic relations.
830 0 $aCornell studies in political economy.$0http://id.loc.gov/authorities/names/n42034610
852 00 $boff,bus$hHG3883.A67$iS64 1999