International Finance Third Edition

by Pilbeam, Keith

• ISBN13: 9781403948373
• ISBN10: 1403948372
• Edition: 3rd
• Format: Paperback
• Copyright: 2006-03-03
• Publisher: Palgrave Macmillan

Summary

The third edition of this internationally renowned and respected text is an ideal introduction to the subject of international finance. Theory is clearly explained and constantly related to the the realities of the modern world economy. The reader is taken through the theories and differing policies of the balance of payments, exchange rates and the international monetary system. Extensive use is made of figures, tables and graphs to illustrate the arguments in the text. It is thoroughly updated and includes a new chapter on the Asian financial crisis. Companion Website: http://www.palgrave.com/business/pilbeam_int/home.htm

Author Biography

Keith Pilbeam is Professor of International Economics and Finance at City University, London.

Table of Contents

Introduction * PART 1: 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 2: 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 3: 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 * Further Reading and Resources