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 www.palgrave.com/business/pilbeam for additional student and lecturer resources.