International Finance

by Pilbeam, Keith

• ISBN13: 9780230362895
• ISBN10: 0230362893
• Edition: 4th
• Format: Paperback
• Copyright: 2013-02-19
• Publisher: Red Globe Pr

Summary

International Finance is a well-established and internationally renowned introduction to the subject for both undergraduate and postgraduate students. It provides comprehensive coverage of both traditional and modern theories relating to the balance of payments, exchange rate determination and the international monetary system. There is extensive use of data and empirical evidence to illustrate the relevance of theories and concepts discussed. The third edition has been fully updated to include key theoretical and real world developments and details the Eurocurrency and Eurobond markets and derivative instruments such as futures, options and swaps. Major international economic issues, such as international policy co-ordination, the record United States current account deficits and Economic and Monetary Union in the European Union are given full coverage. A new chapter on currency and financial crises provides the basis for a study of the 2001 economic collapse in Argentina and the South East Asian crises of the late 1990s. Also available is a companion website with extra features to accompany the text, please take a look by clicking below - http://www.palgrave.com/business/pilbeam_int/home.htm

Author Biography

KEITH PILBEAM is a 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 undertakes consulting work for a number of City financial institutions and advises the UK Foreign Office on international economic issues. President of the International Economics and Finance Society (UK), he is also author of Finance and Financial Markets and Exchange Rate Management (both Palgrave Macmillan).

Table of Contents

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