Information Systems For Global Financial Markets Emerging Developments And Effects
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Information Systems for Global Financial Markets: Emerging Developments and Effects by Yap, Alexander Y. Pdf
"This book offers focused research on the systems and technologies that provide intelligence and expertise to traders and investors and facilitate the agile ordering processes, networking, and regulation of global financial electronic markets"--Provided by publisher.
Handbook Of Global Financial Markets: Transformations, Dependence, And Risk Spillovers by Sabri Boubaker,Duc Khuong Nguyen Pdf
The objective of this handbook is to provide the readers with insights about current dynamics and future potential transformations of global financial markets. We intend to focus on four main areas: Dynamics of Financial Markets; Financial Uncertainty and Volatility; Market Linkages and Spillover Effects; and Extreme Events and Financial Transformations and address the following critical issues, but not limited to: market integration and its implications; crisis risk assessment and contagion effects; financial uncertainty and volatility; role of emerging financial markets in the global economy; role of complex dynamics of economic and financial systems; market linkages, asset valuation and risk management; exchange rate volatility and firm-level exposure; financial effects of economic, political and social risks; link between financial development and economic growth; country risks; and sovereign debt markets.
Emerging Financial Markets In The Global Economy by David Nickerson,Larry Sawers,Daniel Schydlowsky Pdf
The rapid emergence of active financial markets in a number of developing and transition countries during the 1990s is a momentous phenomenon. Until recently, most developing countries severely manipulated and repressed their financial markets. The dramatic increase in the influence of neo-liberal thinking and laissez-faire governance in developing countries has recently led to serious capital market reform in scores of countries. Most countries without financial market reform are anxiously studying their successful neighbors in order to adopt policies, programs, and regulations that have a proven track record.This collection of papers addresses many of the important issues raised by these dramatic changes, including restructuring pension systems, organizing new equity markets, designing financial systems to deal with systemic risk, dealing with the overhang and bad debts, and attracting foreign direct investments. Several papers deal with informal credit markets, examining the effect of informal finance on economic development and the exponential growth in microfinance by private financial institutions in Latin America and in the United States.The book is intended for policy makers and scholars interested in capital markets in developing and transition economies. It is also suitable for use as a supplementary text in upper level undergraduate and graduate courses in development finance.
Emerging Financial Markets by David O. Beim,Charles W. Calomiris Pdf
This is the first text to be written on Emerging Financial Markets. The book is partially the result of a grant given by Citibank to Columbia Business School for the purpose of designing a new course in emerging financial markets for their MBA program. The text reflects the tremendous research in recent years seeking to explain the financial crises in Latin America and Asia during the mid to late 1990's and related issues such as capital flows, currency regimes, legal and regulatory matters, corporate governance, and the functions and structure of financial systems. Emerging Financial Markets suggests and explores three key foundations that explain why emerging markets behave differently than developed markets: (1) law, (2) institutions of information and control, and (3) inflation and currency stability.
Douglas D Evanoff,Andrew G Haldane,George G Kaufman
Author : Douglas D Evanoff,Andrew G Haldane,George G Kaufman Publisher : World Scientific Page : 612 pages File Size : 52,7 Mb Release : 2015-10-27 Category : Business & Economics ISBN : 9789814678346
The New International Financial System by Douglas D Evanoff,Andrew G Haldane,George G Kaufman 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. Contents:Special Addresses:Financial Entropy and the Optimality of Over-regulation (Alan S Blinder)Implementing the Regulatory Reform Agenda: The Pitfall of Myopia (Stefan Ingves)A Financial System Perspective on Central Clearing of Derivatives (Jerome H Powell)Regulatory and Market Response to the Financial Crisis — Banking:Shadow Banking in China (Andrew Sheng)Fed Liquidity Policy during the Financial Crisis: Playing For Time (Robert Eisenbeis and Richard Herring)Europe''s Banking Union: Status and Prospects (Nicolas Véron)Regulatory and Market Response to the Financial Crisis — Capital Markets:Capital Market Regulation in Japan after the Global Financial Crisis (Takeo Hoshi and Ayako Yasuda)Systemic Risk and Public Institutions: Evolving Perspectives from the Financial Crisis (Chester Spatt)Securities Regulation During and After the 2008 Financial Crisis (Jennifer E Bethel and Erik R Sirri)Regulatory Reform, its Possible Market Consequences and the Case of Securities Financing (David Rule)Resolving Systemically Important Financial Institutions and Markets:A Critical Evaluation of Bail-in as a Bank Recapitalization Mechanism (Charles Goodhart and Emilios Avgouleas)Resolving Systemically Important Financial Institutions and Markets (Adam Ketessidis)The Role of Bankruptcy in Resolutions (Kenneth E Scott)The Single Point of Entry Resolution Strategy and Market Incentives (James R Wigand)Transitional Impact of the Reforms on the Financial Sector:Model Risk and the Great Financial Crisis: The Rise of Modern Model Risk Management (Jeffrey A Brown, Brad McGourty and Til Schuermann)Banking in a Re-Regulated World (Luc Laeven)Financial Reform in Transition (Philipp Hartmann)Transitional Impact of the Reforms on the Real Sector:The Jury Is In (Stephen G Cecchetti)Regulations, Reforms, and the Real Sector (Martin Čihák)Financial Fragmentation, Real-sector Lending, and the European Banking Union (Giovanni Dell''Ariccia)New Capital and Liquidity Requirements: Transitional Effects on the Economy (Douglas J Elliott)Long-term Cumulative Steady State Outcome of Reforms — Future Concerns?:Some Effects of Capital Regulation When There are Competing, Nonbank Lenders (Mark J Flannery)The Steady State of the Banking Union (Dirk Schoenmaker)Resolving Systemically Important Entities: Lessons from the Government Sponsored Enterprises (Mark Calabria)Policy Panel — Where to from Here?:Assessing the Overall Impact of Financial Reforms (Svein Andresen)Financial Regulation: Where to From Here? (Vitor Constâncio)Where To From Here?: Financial Regulation 2.0 (Andrew W Lo)Key Fragilities of the Financial System (Randall S Kroszner)Where to From Here for Financial Regulatory Policy?: Analyzing Housing Finance (David Scharfstein) Readership: Advanced economics, finance and policy undergraduates and postgraduates; finance professionals; policy makers and researchers who are interested in financial systems and analysis of regulations put into place post-Recession. Keywords:Financial Stability;Systemic Risk;Financial Regulation;Too-Big-to-Fail;Regulatory Burden;Financial Institutions'
Author : International Monetary Fund Publisher : International Monetary Fund Page : 226 pages File Size : 41,7 Mb Release : 1999-09-24 Category : Business & Economics ISBN : 1557758522
International Capital Markets by International Monetary Fund Pdf
Following a review and assessment of recent developments in capital market and banking systems, this year's International Capital Markets report reviews and assesses recent developments in mature and emerging financial markets and continues the analysis of key issues affecting global financial markets. It examines the systemic implications of the continued rapid development of the global over-the-counter derivatives markets and the expansion of foreign-owned banks into emerging markets. The report also analyzes market participants' assessments of the proposals for private sector involvement in the prevention and resolution crises.
The Impact of the Global Financial Crisis on Emerging Financial Markets by Jonathan Batten,Peter G. Szilagyi Pdf
The Global Financial Crisis of 2007-2009 has highlighted the resilience of the financial markets and economies from the developing world. This title investigates and assesses the impact and response to the crisis from an emerging markets perspective including asset pricing, contagion, financial intermediation, market structure and regulation.
Rethinking Financial Deepening by Ms.Ratna Sahay,Martin Cihak,Mr.Papa M N'Diaye,Mr.Adolfo Barajas,Ms.Diana B Ayala Pena,Ran Bi,MissYuan Gao,Ms.Annette J Kyobe,Lam Nguyen,Christian Saborowski,Katsiaryna Svirydzenka,Mr.Reza Yousefi Pdf
The global financial crisis experience shone a spotlight on the dangers of financial systems that have grown too big too fast. This note reexamines financial deepening, focusing on what emerging markets can learn from the advanced economy experience. It finds that gains for growth and stability from financial deepening remain large for most emerging markets, but there are limits on size and speed. When financial deepening outpaces the strength of the supervisory framework, it leads to excessive risk taking and instability. Encouragingly, the set of regulatory reforms that promote financial depth is essentially the same as those that contribute to greater stability. Better regulation—not necessarily more regulation—thus leads to greater possibilities both for development and stability.
Reforming the International Financial System for Development by Jomo Kwame Sundaram Pdf
Jomo Kwame Sundaram is assistant secretary general for economic development at the United Nations and research coordinator for the G24 Intergovernmental Group on International Monetary Affairs and Development. In 2007 he was awarded the Wassily Leontief Prize for Advancing the Frontiers of Economic Thought. --Book Jacket.
Critical Issues in International Financial Reform by R. Albert Berry,Gustavo Indart Indart Pdf
Critical Issues in International Financial Reform ad- dresses weaknesses of the current international financial system and potential beneficial reforms. The focus is on the countries of Latin America and the Caribbean, but the authors also take into account relevant lessons from the experience of Canada, a country highly integrated into world and hemispheric trade and financial markets. Critical Issues offers a new perspective on a discussion too often dominated by interest groups that take strong, even rigid, positions on issues with limited understanding of the technical aspects of the issues, and little concern for the interests of the developing world. Its chapters have been written by experts in the economic, political, and social aspects of the international financial integration of developing countries. Financial crises and their associated social and economic traumas are the most apparent symptom that something is amiss in the process of world economic integration. But there are also broader questions about the nature and magnitude of the benefits and costs of increased international capital flows for different groups of countries in the developing and developed worlds. For example, even in the absence of turbulence, is it optimal for all participants that capital movements be as free as possible? Does capital inflow discourage domestic savings to a degree that should cause worry? Are some types of flows inherently more beneficial than others--for instance, direct investment flows versus flows into host stock markets? How can the instability of capital movements best be curtailed? These questions concern the contributors to this volume. This volume demonstrates that the evolution of the world financial system, its various problems, and what is or is not done about them require an understanding of the links among financial, economic, and political variables. Critical Issues in International Financial Reform is an important contribution to this debate, and will be of value to researchers in economic policy, history, and international politics. Albert Berry is professor of economics at the University of Toronto and research director of the Program on Latin America and the Caribbean. Gustavo Indart is special lecturer of economics and the coordinator of the Program on Latin America and the Caribbean at the University of Toronto. "The papers in this conference volume are grounded on solid economic theory and empirical research, and take a critical view of the prescriptions of the so-called Washington Consensus and of the policies followed in most developing countries under the advice of the international financial institutions (IFIs). The economics and the political economy of their current financial arrangements, in which the IFIs play such an importnat role, are given a thorough treatment. This volume is a very valuable contribution to a debate that interests both academics and policymakers. The thirteen papers are uniformly of high quality and are often very innovative."--Juan-Antonio Morales, president, Central Bank of Bolivia "A stimulating and balanced set of analyses, drawing insightfully upon comparative experiences, of national and international financial systems and their reform, both actual and potential. It is unusual and welcome in its effective blending of political and economic insights, and its use of analyses that are refreshingly skeptical of orthodox presumptions."--Gerald Helliner, University of Toronto
Current Challenges in Financial Regulation by Stijn Claessens Pdf
Financial intermediation and financial services industries have undergone many changes in the past two decades due to deregulation, globalization, and technological advances. The framework for regulating finance has seen many changes as well, with approaches adapting to new issues arising in specific groups of countries or globally. The objectives of this paper are twofold: to review current international thinking on what regulatory framework is needed to develop a financial sector that is stable, yet efficient, and provides proper access to households and firms; and to review the key experiences regarding international financial architecture initiatives, with a special focus on issues arising for developing countries. The paper outlines a number of areas of current debate: the special role of banks, competition policy, consumer protection, harmonization of rules-across products, within markets, and globally-and the adaptation and legitimacy of international standards to the circumstances facing developing countries. It concludes with some areas where more research would be useful.
Global Finance in Emerging Market Economies by Todd A. Knoop Pdf
This title focuses on the important characteristics of financial systems in emerging market economies and their differences from those in developed countries. The book surveys both theoretical and empirical research on finance in emerging economies, as well as reviewing numerous case studies.
Economic Behavior, Game Theory, and Technology in Emerging Markets by Christiansen, Bryan Pdf
"This book explores game theory and its deep impact in developmental economics, specifically the manner in which it provides a way of formalizing institutions"--Provided by publisher.
Real Estate Finance in the New Economy by Piyush Tiwari,Michael White Pdf
The financial deregulation of the last quarter century has meantlarge flows of funds around the world seeking the highestrisk-adjusted return for investors. Real estate is now establishedas an important asset class and advances in information technologyprovide the necessary tools to complement global developments inreal estate finance and investment. A variety of investment vehicles have emerged, andReal EstateFinance in the New Economy examines these along withfinancing and risk in the context of globalization, deregulationand an increasingly integrated international world economy byexploring questions like: How have real estate financial structures evolved as economiesgrow and become internationalised? What role do economic change and financial systems play in thedevelopment of real estate investment? Are the risks associated with the ‘new economy’really new? What is the future direction for real estate financing? The authors develop an economic framework for discussions onindividual financial products to examine how real estate financialstructures change with economic growth and internationalisation andalso to show how developments in real estate finance impacteconomic growth.
New Paradigms for Financial Regulation by Masahiro Kawai,Eswar Prasad Pdf
" A Brookings Institution Press and Asian Development Bank Institute publication The global financial crisis has led to a sweeping reevaluation of financial market regulation and macroeconomic policies. Emerging markets need to balance the goals of financial development and broader financial inclusion with the imperative of strengthening macroeconomic and financial stability. The third in a series on emerging markets, New Paradigms for Financial Regulation develops new analytical frameworks and provides policy prescriptions for how the frameworks should be adapted to a world of more free and more volatile capital. This volume provides an overview of the global regulatory landscape from the perspective of Asian emerging markets. The contributors discuss the many challenges ahead in developing sound and flexible financial regulatory systems for emerging market economies. The challenges are heightened by the rising integration of these economies into global trade and finance, the growing sophistication of their financial systems as globalization and emergence processes accelerate, and their potential vulnerability to instability arising from the financial markets in the advanced economies. The contributors provide guidance about pitfalls to be avoided, general principles that should guide the creation of sound regulatory systems, and valuable analytic perspectives about how to continue to broaden the financial sector and innovate while still maintaining financial and macroeconomic stability. "
