Global Financial Systems

Author : Jon Danielsson
Publisher : Pearson Higher Ed
Page : 442 pages
File Size : 52,9 Mb
Release : 2013-07-04
Category : Business & Economics
ISBN : 9780273774716

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Global Financial Systems by Jon Danielsson Pdf

Global Financial Systems is an innovative, interdisciplinary text that explores the ‘why’ behind global financial stability. Danielsson draws on economic theory, finance, mathematical modelling, risk theory, and policy to posit a coherent and current analysis of the global financial system. The full text downloaded to your computer With eBooks you can: search for key concepts, words and phrases make highlights and notes as you study share your notes with friends eBooks are downloaded to your computer and accessible either offline through the Bookshelf (available as a free download), available online and also via the iPad and Android apps. Upon purchase, you'll gain instant access to this eBook. Time limit The eBooks products do not have an expiry date. You will continue to access your digital ebook products whilst you have your Bookshelf installed.

Author : Larry Allen
Publisher : Reaktion Books
Page : 268 pages
File Size : 47,5 Mb
Release : 2004-03-02
Category : Business & Economics
ISBN : 9781861895707

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Global Financial System 1750-2000 by Larry Allen Pdf

This book traces the evolution of the highly integrated global financial system from 1750 to the present. It examines the corporate form of business organization in the 18th century that saw an explosion of growth in the 19th, which facilitated the international movement of capital. The author also deals with the parallel growth of financial markets and explains how the need to finance public debts paved the way for stock markets as well as outlining the role of private merchant bankers, who originated as international bankers with family-run offices across Europe. He charts the development of banks into public corporations and follows the evolution of modern paper money, explaining the emergence of institutions such as the International Monetary Fund and the World Bank. While tracing the development of foreign-exchange markets and the history of trading blocs, the book also examines how economic powers such as Britain and France used access to capital to wield power in less-developed parts of the world. Finally, a history of financial crises is presented, revealing how economic shocks reverberate from one country to another today through the global financial network.

Author : Jomo Kwame Sundaram
Publisher : Columbia University Press
Page : 561 pages
File Size : 53,5 Mb
Release : 2011-01-17
Category : Business & Economics
ISBN : 9780231527279

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Reforming the International Financial System for Development by Jomo Kwame Sundaram Pdf

The 1944 Bretton Woods conference created new institutions for international economic governance. Though flawed, the system led to a golden age in postwar reconstruction, sustained economic growth, job creation, and postcolonial development. Yet financial liberalization since the 1970s has involved deregulation and globalization, which have exacerbated instability, rather than sustained growth. In addition, the failure of Bretton Woods to provide a reserve currency enabled the dollar to fill the void, which has contributed to periodic, massive U.S. trade deficits. Our latest global financial crisis, in which all these weaknesses played a part, underscores how urgently we must reform the international financial system. Prepared for the G24 research program, a consortium of developing countries focused on financial issues, this volume argues that such reforms must be developmental. Chapters review historical trends in global liquidity, financial flows to emerging markets, and the food crisis, identifying the systemic flaws that contributed to the recent downturn. They challenge the effectiveness of recent policy and suggest criteria for regulatory reform, keeping in mind the different circumstances, capacities, and capabilities of various economies. Essays follow ongoing revisions in international banking standards, the improved management of international capital flows, the critical role of the World Trade Organization in liberalizing and globalizing financial services, and the need for international tax cooperation. They also propose new global banking and reserve currency arrangements.

Author : Kern Alexander,Rahul Dhumale,John Eatwell
Publisher : Oxford University Press on Demand
Page : 329 pages
File Size : 55,6 Mb
Release : 2006
Category : Business & Economics
ISBN : 9780195166989

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Global Governance of Financial Systems by Kern Alexander,Rahul Dhumale,John Eatwell Pdf

The book sets forth the economic rationale for international financial regulation and what role, if any, international regulation can play in effectively managing systemic risk while providing accountability to all affected nations. The book suggests that a particular type of global governance structure is necessary to have more efficient regulation of the international financial system.

Author : Richard M. Levich,Giovanni Majnoni,Carmen Reinhart
Publisher : Springer Science & Business Media
Page : 380 pages
File Size : 40,5 Mb
Release : 2012-12-06
Category : Business & Economics
ISBN : 9781461509998

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Ratings, Rating Agencies and the Global Financial System by Richard M. Levich,Giovanni Majnoni,Carmen Reinhart Pdf

Ratings, Rating Agencies and the Global Financial System brings together the research of economists at New York University and the University of Maryland, along with those from the private sector, government bodies, and other universities. The first section of the volume focuses on the historical origins of the credit rating business and its present day industrial organization structure. The second section presents several empirical studies crafted largely around individual firm-level or bank-level data. These studies examine (a) the relationship between ratings and the default and recovery experience of corporate borrowers, (b) the comparability of credit ratings made by domestic and foreign rating agencies, and (c) the usefulness of financial market indicators for rating banks, among other topics. In the third section, the record of sovereign credit ratings in predicting financial crises and the reaction of financial markets to changes in credit ratings is examined. The final section of the volume emphasizes policy issues now facing regulators and credit rating agencies.

Author : Chris Brummer
Publisher : Cambridge University Press
Page : 128 pages
File Size : 49,5 Mb
Release : 2011-12-26
Category : Law
ISBN : 9781139504720

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Soft Law and the Global Financial System by Chris Brummer Pdf

The global financial crisis of 2008 has given way to a proliferation of international agreements aimed at strengthening the prudential oversight and supervision of financial market participants. Yet how these rules operate is not well understood. Because international financial rules are expressed through informal, non-binding accords, scholars tend to view them as either weak treaty substitutes or by-products of national power. Rarely, if ever, are they cast as independent variables that can inform the behavior of regulators and market participants alike. This book explains how international financial law 'works' - and presents an alternative theory for understanding its purpose, operation and limitations. Drawing on a close institutional analysis of the post-crisis financial architecture, it argues that international financial law is often bolstered by a range of reputational, market and institutional mechanisms that make it more coercive than classical theories of international law predict.

Author : Elena G. Popkova
Publisher : Springer
Page : 1287 pages
File Size : 42,7 Mb
Release : 2018-11-03
Category : Technology & Engineering
ISBN : 9783030001025

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The Future of the Global Financial System: Downfall or Harmony by Elena G. Popkova Pdf

This book gathers the best papers presented at the conference “The Future of the Global Financial System: Downfall or Harmony”, which took place in Limassol, Cyprus on April 13-14, 2018. Organized by the Institute of Scientific Communications (Volgograd, Russia), the conference chiefly focused on reassessing the role and meaning of the global financial system in the modern global economy in light of the crisis that began in 2008 and can still be observed in many countries, and on developing conceptual and applied recommendations on spurring the development of the global financial system. All works underwent peer-review and conform to strict criteria, including a high level of originality (more than 90%), elements of scientific novelty, contribution to the development of economic science, and broad possibilities for practical application. The target audience of this scientific work includes postgraduates, lecturers at higher educational establishments, and researchers studying the modern global financial system. Based on the authors’ conclusions and results, readers will be equipped to pursue their own scientific research. The topics addressed include (but are not limited to) the following issues, which are interesting for modern economic science and practice: financial globalization, the role of finances in the global economy, perspectives of transition in the financial system from part of the infrastructure to a new vector of development in the global economy in the 21st century, reasons for the crisis of the modern financial system and ways of overcoming it, problems and perspectives regarding the harmonization of the global financial system, and scenarios of development for the global financial system. The content is divided into the following parts: development of financial systems at the micro-, meso- and macro-levels, financial infrastructure of the modern economy, legal issues of development of the modern financial system, and management of the global financial system.

Author : Bruno Bonizzi,Annina Kaltenbrunner,Raquel A. Ramos
Publisher : Routledge
Page : 290 pages
File Size : 51,5 Mb
Release : 2021-05-05
Category : Business & Economics
ISBN : 9780429658358

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Emerging Economies and the Global Financial System by Bruno Bonizzi,Annina Kaltenbrunner,Raquel A. Ramos Pdf

This book provides a comprehensive overview of the financial integration of emerging economies through an in-depth analysis of the international monetary system, how it impacts capital flows and exchange rates, and its implications for policy making. The financial integration of emerging economies has been a remarkable development of the past two decades. The growth of cross-border transactions and asset ownership, not least through the accumulation of foreign exchange reserves, has put many of these countries in a more prominent, if still peripheral, position within the global financial system. This has not been a smooth process, as integration has been marked by cyclical waves of capital flows, with financial and currency instability often accompanying the acute phases of these cycles. While conventional economic theory traditionally sees financial integration as a positive development, Post-Keynesian economists, working in the tradition of Keynes, Minsky and Kalecki, have long taken a more sceptical viewpoint. By centring the analysis of financial dynamics on concepts as liquidity, uncertainty, balance-sheet structures and institutions, Post-Keynesian theory highlights the intrinsic character of shocks imposed by financial integration upon emerging economies, and their implications for economic growth and distribution. This book demonstrates that these analyses can be fruitfully used to gain a better understanding of financial (in)stability and economic development in emerging economies as they integrate into the global financial system. This work provides key reading for students and scholars of economics, political economy and finance that are interested in the financial integration of emerging economies, and how the heterodox tradition of Post-Keynesian economics contributes to its analysis.

Author : Rohinton P. Medhora,Dane Rowlands
Publisher : McGill-Queen's Press - MQUP
Page : 268 pages
File Size : 52,9 Mb
Release : 2016-10-17
Category : Political Science
ISBN : 9781928096528

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Crisis and Reform by Rohinton P. Medhora,Dane Rowlands Pdf

The financial crisis that erupted in 2008 severely affected the global economy, plunging most countries into a recession with aftershocks still being felt today. Canada was able to weather the crisis well in comparison to many euro-zone countries and the United States, but it did not escape unscathed. Two major themes are explored in this volume: Canada’s role in the international financial system and the Canadian policy response to the global financial crisis. These themes are examined in light of the shift from the classical gold standard to Bretton Woods to the “non-system” of late, the finance-trade crossover agenda, the changing role of central banks, the European Monetary Union, developing countries and a post-financial crisis global political economy. What becomes clear in this volume is that Canada plays a powerful role, which belies its size, in the development of the financial system and its regulation at an international level. Crisis and Reform: Canada and the International Financial System — the 28th volume of the influential Canada Among Nations series — examines the global financial crisis through Canada’s historical and current role in the international financial system. Canada has been held up as a shining example of good governance during the financial crisis, and its prominent role within international financial institutions should grow as Canada continues as a leading player in the global financial system.

Author : Ross P. Buckley,Douglas W. Arner
Publisher : Kluwer Law International B.V.
Page : 362 pages
File Size : 47,7 Mb
Release : 2011-01-01
Category : Business & Economics
ISBN : 9789041133540

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From Crisis to Crisis by Ross P. Buckley,Douglas W. Arner Pdf

The global financial system has proven increasingly unstable and crisis-prone since the early 1980s. The system has failed to serve either creditors or debtors well. This has been reinforced by the global financial crisis of 2008, where we have seen systemic weaknesses bring rich countries to the brink of bankruptcy and visit appalling suffering on the poorest citizens of poor countries. Yet the regulatory responses to this crisis have involved little thinking from outside the box in which the crisis was delivered to the world. This book presents a powerful indictment of this regulatory failure and calls for greatly increased attention to international financial law and analyses new regulatory measures with the potential to make a new recognition of the principles that ought to underlie it. Using a historical approach that compares the various financial crises of the past three decades, the authors clearly show how misconceived economic policy responses have paved the way for each next 'crash'. Among the numerous topics that arise in the course of this revealing analysis are the following: overvalued exchange rates; excess liquidity in rich countries; premature liberalisation of local financial markets; capital controls; derivatives markets; accounting standards; credit ratings and the conflicts in the role of credit rating agencies; investor protection arrangements; insurance companies; and payment, clearing and settlement activities. The authors offer detailed commentary on: the role of multilateral development banks, the IMF and the WTO in responding to crises; the role of the Basel Accords, the Financial Stability Forum and Board, and the responses of the European Commission, the US, and the G20 to the most recent crisis. The book concludes by exploring systemic game-changing reforms such as bank levies, financial activities taxes and financial transaction taxes, and a global sovereign bankruptcy regime; as well as measures to remove the currency mismatches from the balance sheets of developing countries. Apart from its great usefulness as a detailed introduction to the international financial system and its regulation, the book is enormously valuable for its clear identification of the areas of regulatory failure, and its analysis of new regulatory approaches that offer the potential for a genuinely more stable system. Banking and investment policymakers at every level, the lawyers that serve these markets and the regulators that seek to regulate them, cannot afford to neglect this book.

Author : Douglas D. E. T. Al EVANOFF
Publisher : World Scientific
Page : 611 pages
File Size : 49,9 Mb
Release : 2015-10-27
Category : Business & Economics
ISBN : 9789814678339

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The New International Financial System by Douglas D. E. T. Al EVANOFF Pdf

Ever since the Great Recession, the global financial regulatory system has undergone significant changes. But have these changes been sufficient? Have they created a new problem of over-regulation? Is the system currently in a better position than in the pre-Recession years, or have we not adequately addressed the basic causes of the financial crisis and resulting Great Recession?These were the questions and issues addressed in the seventeenth annual international banking conference held at the Federal Reserve Bank of Chicago in November 2014. In collaboration with the Bank of England, the theme of the conference was to examine the state of the new global financial system as it has evolved in response to significant market changes and regulatory reforms triggered by the global financial crisis. The papers from that conference are collected in this volume, with contributions from an international array of government officials, regulators, industry practitioners and academics.

Author : Larry Allen
Publisher : Reaktion Books
Page : 268 pages
File Size : 51,5 Mb
Release : 2001
Category : Business & Economics
ISBN : 1861891091

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Global Financial System 1750-2000 by Larry Allen Pdf

As well as tracing the development of foreign-exchange markets and the history of trading blocs, the book also examines how economic powers such as Britain and France used access to capital to wield power in less-developed parts of the world, Finally, Allen surveys the history of financial crises to show how economic shocks reverberate from one country to another today through a network constructed over more than two centuries."--BOOK JACKET.

Author : Jón Daníelsson
Publisher : Unknown
Page : 426 pages
File Size : 44,9 Mb
Release : 2013
Category : Electronic
ISBN : 0273774670

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Global financial systems : stability and risk by Jón Daníelsson Pdf

Author : Paul Blustein
Publisher : McGill-Queen's Press - MQUP
Page : 192 pages
File Size : 55,7 Mb
Release : 2016-10-17
Category : Political Science
ISBN : 9780986707773

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Off Balance by Paul Blustein Pdf

Award-winning journalist and author Paul Blustein has received wide acclaim for his books about the inner workings of international economic institutions, notably the International Monetary Fund and World Trade Organization. In Off Balance, he weaves a compelling narrative that details the failings of such institutions in the global financial crisis that erupted in 2008. Based on interviews with scores of policy makers and on thousands of pages of confidential documents to which Blustein obtained exclusive access, the book focusses mainly on the IMF and the Financial Stability Forum in the run-up to and early months of the crisis. Blustein exposes serious weaknesses in these and other institutions, which lead to sobering conclusions about the governability of the global economy.

Author : Rafay, Abdul
Publisher : IGI Global
Page : 374 pages
File Size : 42,7 Mb
Release : 2021-04-16
Category : True Crime
ISBN : 9781799887607

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Money Laundering and Terrorism Financing in Global Financial Systems by Rafay, Abdul Pdf

During the last few decades, corrupt financial practices were increasingly being monitored in many countries around the globe. The past few decades have been eventful for these issues. Today, tackling money laundering and terrorism financing are considered key issues in developed and developing countries alike. Eradication of money laundering and terrorism financing through a holistic approach of awareness, prevention, and enforcement is a current need. It has enabled the birth of new regulatory regimes based on strict compliance, robust processes, and technology. One of the many problems with this is the lack of general awareness about all these issues among various stakeholders including researchers and practitioners. Money Laundering and Terrorism Financing in Global Financial Systems deepens the discourse about money laundering, terrorism financing, and risk management in a modern-day environment. It provides a fascinating and invaluable guide for understanding the theory, practice, and cases of these topics. Split into two sections, the first being money laundering and terrorism financing and the second being financial governance and risk management, the chapters create comprehensive knowledge on these acts of crime in the financial industry by defining the crimes themselves, the many challenges and impacts, and potential solutions. This book is ideal for government officials, financial professionals, policymakers, academicians, business professionals, managers, IT specialists, researchers, and students.