Turbulent waters

cross-border finance and international governance

The world economy at the end of the twentieth century was afflicted with financial turbulence. Millions of people in emerging-market nations endured severe recessions, and many residents of wealthy nations also experienced losses. Some scholars describe this instability as a consequence of a progressively integrated ...

Money, banking and financial markets

This text strives to bring money and banking up-to-date by providing complete, integrated coverage of topics that are important to the twenty-first century world of money and banking. While covering the basics in the authors' hallmark, student-oriented manner, this book also uniquely integrates coverage of ...

The sink

terror, crime and dirty money in the offshoreworld

"The Money Sink" tells the how, when and why of criminal and terrorist money laundering, the murky and ultra-secret world where the line between legitimate business and crime vanishes. In 1994, when Jeffrey Robinson, author of "The Laundrymen", first brought to the world's attention ...

Corporate governance and capital flows in a global economy

This volume is a timely and insightful exploration into the issues of corporate governance and the impact of corporate governance practices on investments in developing countries. It analyzes global aspects of governance in relation to such issues as corporate performance, privatization, venture capitalism, and workers ...

Capital markets

Capital Markets, 1e provides coverage of global financial markets and institutions, with a focus on globalization, deregulation & consolidation, and technology. The book is distinguished by its focused coverage of global markets, greater coverage of securities markets, and emphasis on modern topics and market practice. It ...

The real exchange rate and prices of traded goods in OECD countries

Real exchange rate changes - resulting either from shifts in nominal exchange rates or increases in costs that are asymmetric across countries - are the primary focus of this text. The book shows how exchange rates and local production costs are passed through into import prices. It ...

Currency overlay

Currency overlay has grown in parallel with the international diversification of institutional investment portfolios. Currency overlay mandates now cover around $100bn in assets, and 18 years since the first overlay mandate, currency overlay has now come of age. Currency Overlay looks at all the components ...

Currency trading

how to access and trade the World's Biggest Market

The fast moving foreign exchange (FOREX) used to be the exclusive domain of banks and other major financial institutions. In 2002, new developments have opened this remarkable arena to the average investor. With these new developments, author Philip Gotthelf provides a comprehensive guide to currency ...

Currency crises in emerging markets

Currency Crises in Emerging Markets, prepared by Warsaw-based Center for Social and Economic Research (CASE), discusses various aspects of currency crises in emerging-market economies: The definitions and theoretical models of currency crises, the causes, management and propagation (contagion effect) of crises, their economic, social and ...

The dollarization debate

With an emphasis on North and Latin America, this work takes a global approach to a controversial topic in the business world; dollarization. With the collapse of the former Soviet Union, and the formation of the euro in Europe, many countries and debating whether or ...

International capital flows in calm and turbulent times

the need for new international architecture

International capital flows in calm and turbulent times analyzes the financial crises of the late 1990s and draws attention to the type of lenders and investors that triggered and deepened the crises. It concentrates on institutional investors and banks and provides detailed analysis of the ...

Wealth by association

global prosperity through market unification

European monetary unification has produced a $15 trillion windfall to its member nations that is rarely discussed or accounted for in analyses of economic integration. The authors argue persuasively that the reduction in cross-border risks is directly responsible for an explosion in the value of ...

Exchange-rate determination

models and strategies for exchange-rate forecasting

Exchange-Rate Determination explores todays most popular models and strategies for forecasting exchange rates, and reveals the strengths, weaknesses, and appropriate applications of each. Covering short-, medium-, and long-run time frames, this essential combination of reference and workbook discusses: -Potential risks and rewards of short-term forecasting ...

Curso sobre mercados monetarios y de divisas

Un nuevo concepto en formación financiera. Este libro sirve de guía a través del complejo mundo de los mercados cambiarlos más poderosos. Está pensado para explicar con claridad el cómo y el porqué de estos mercados, así como el léxico especial asociado a esa actividad ...

The new financial order

risk in the 21st Century

In his best-selling Irrational Exuberance, Robert Shiller cautioned that society's obsession with the stock market was fueling the volatility that has since made a roller coaster of the financial system. Less noted was Shiller's admonition that our infatuation with the stock market distracts ...

The analysis of structured securities

precise risk measurement and capital allocation

The Analysis of Structured Securities presents the first intellectually defensible framework for systematic assessment of the credit quality of structured securities. It begins with a detailed description and critique of methods used to rate asset-backed securities, collateralized debt obligations and asset- backed commercial paper. The ...

Quantitative portfolio optimisation, asset allocation and risk management

This practical book serves as a comprehensive guide to quantitative portfolio optimization, asset allocation, and risk management. Providing an accessible yet rigorous approach to investment management, it gradually introduces ever more advanced quantitative tools for these areas. Using extensive examples, this book guides the reader ...

Modeling financial time series with S-PLUS

The field of financial econometrics has exploded over the last decade This book represents an integration of theory, methods, and examples using the S-PLUS statistical modeling language and the S+FinMetrics module to facilitate the practice of financial econometrics. This is the first book to ...

Financial markets in continuous time

A framework for financial market modeling, the benchmark approach extends beyond standard risk neutral pricing theory. It permits a unified treatment of portfolio optimization, derivative pricing, integrated risk management and insurance risk modeling. This book presents the necessary mathematical tools, followed by a thorough introduction ...

Credit derivatives pricing models

model, pricing and implementation

The purpose of this book is to provide a comprehensive overview of the state-of-the-art in credit risk modelling as applied to the pricing of credit derivatives.