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008 220302t20191999nyu fo d z eng d
020 _a9781501711978
_qPDF
024 7 _a10.7591/9781501711978
_2doi
035 _a(DE-B1597)9781501711978
035 _a(DE-B1597)535295
035 _a(OCoLC)1129187880
040 _aDE-B1597
_beng
_cDE-B1597
_erda
050 4 _aHG3883.A67
_bS65 2019
072 7 _aPOL011000
_2bisacsh
082 0 4 _a381.170973
_223
084 _aonline - DeGruyter
100 1 _aSpiro, David E.
_eautore
245 1 4 _aThe Hidden Hand of American Hegemony :
_bPetrodollar Recycling and International Markets /
_cDavid E. Spiro.
264 1 _aIthaca, NY :
_bCornell University Press,
_c[2019]
264 4 _c©1999
300 _a1 online resource (200 p.) :
_b4 tables, 10 drawings
336 _atext
_btxt
_2rdacontent
337 _acomputer
_bc
_2rdamedia
338 _aonline resource
_bcr
_2rdacarrier
347 _atext file
_bPDF
_2rda
490 0 _aCornell Studies in Political Economy
505 0 0 _tFrontmatter --
_tContents --
_tPreface --
_t1. Explaining Petrodollar Recycling --
_t2. Defining the Principles of Allocation --
_t3. Making Markets Work --
_t4. The Failure of International Institutions --
_t5. Competing for Capital --
_t6. The Interpretation of Hegemony --
_tWorks Cited --
_tIndex
506 0 _arestricted access
_uhttp://purl.org/coar/access_right/c_16ec
_fonline access with authorization
_2star
520 _aBetween 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. David Spiro has followed the money trail, and the story he tells contradicts the accepted beliefs. Most of the sudden flush of new oil wealth didn't go to poor oil-importing countries around the globe. Instead, 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 policymakers took this action to prop up otherwise intolerable levels of U.S. public debt. In effect, recycled OPEC wealth subsidized the debt-happy policies of the U.S. government as well as the debt-happy consumption of its citizenry.
538 _aMode of access: Internet via World Wide Web.
546 _aIn English.
588 0 _aDescription based on online resource; title from PDF title page (publisher's Web site, viewed 02. Mrz 2022)
650 0 _aBalance of payments
_zArab countries.
650 0 _aInternational finance.
650 0 _aInvestments, Arab.
650 0 _aPetroleum products
_xPrices.
650 4 _aInternational Studies.
650 4 _aPolitical Science & Political History.
650 4 _aU.S. History.
650 7 _aPOLITICAL SCIENCE / International Relations / General.
_2bisacsh
850 _aIT-RoAPU
856 4 0 _uhttps://doi.org/10.7591/9781501711978
856 4 0 _uhttps://www.degruyter.com/isbn/9781501711978
856 4 2 _3Cover
_uhttps://www.degruyter.com/document/cover/isbn/9781501711978/original
942 _cEB
999 _c221599
_d221599