International Finance (4th Revised edition)
By: Keith Pilbeam (author)Paperback
1 - 2 weeks availability
The international monetary system is characterized by vast numbers of daily transactions involving huge sums of money. In an increasingly globalized world economy, these trades can have enormous repercussions on economies and can occasionally cause currency, banking and financial crises. International Finance provides comprehensive coverage of the theory and practice of the balance of payments, exchange rate determination and the international money system. It includes both traditional and modern theories in the field and provides an extensive overview of the empirical evidence on the theories and concepts discussed.
Key benefits of the fourth edition: * New chapter on the global banking crisis * Coverage of new financial instruments such as Collateralized Debt Obligations and Credit Default Swaps * Up to date coverage of the European sovereign debt crisis * Extensive case studies illustrating how theory applies to the real world of international finance * Improved pedagogical features and a comprehensive companion website International Finance is essential reading for undergraduate, postgraduate and MBA students of International Finance, International Economics and International Monetary Economics. Visit our companion site for additional student and lecturer resources.
Keith Pilbeam is Professor of International Economics and Finance at City University, London, UK. He teaches on the international programmes of Boston University and has been a Visiting Professor at the European University Institute in Florence. He is President of the International Economics and Finance Society (UK), undertakes consulting work for a number of City financial institutions and advises the UK Foreign Office on international economic issues. He is the author of International Finance, Finance and Financial Markets and Exchange Rate Management (Palgrave Macmillan).
Introduction PART I: BALANCE OF PAYMENTS THEORY AND PRACTICE The Foreign Exchange Market The Balance of Payments Elasticity and Absorption Approaches to the Balance of Payments Macroeconomic Policy in an Open Economy The Monetary Approach to the Balance of Payments PART II: EXCHANGE RATE DETERMINATION: THEORY, EVIDENCE AND POLICY Purchasing Power Parity and Floating Exchange Rate Experience Modern Models of Exchange Rate Determination The Portfolio Balance Model Empirical Evidence on Exchange Rates Fixed, Flexible and Managed Exchange Rates PART III: THE INTERNATIONAL MONETARY SYSTEM The International Monetary System The Eurocurrency and Eurobond Markets Currency Derivatives: Futures, Options and Swaps International Policy Coordination International Debt Crises The European Monetary System and European Monetary Union Currency Crises and the East Asian Financial Crisis The Subprime Mortgage Crisis Further Reading and Resources
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- ID: 9780230362895
4th Revised edition
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