The need for continued analysis and evaluation of the international financial system is as pressing now as it was when this book was originally published. This volume provides an in-depth analysis of certain aspects of the international financial system. Specifically it addresses four of the most important financial and monetary issues of the present time: exchange rate, capital markets, international banking and external debt and international financial management.
Table of Contents
Preface. 1. Introduction. Dominick Salvatore and Khosrow Fatemi. Part 1: Foreign Exchange rules 2. Diversified Expectations and Speculation in the Foreign Exchange Market. Vincent Dropsy. 3. Pricing Options on a Constrained Currency Index: Some Simulation Results. Tom Berglund, Staffan, Ringbom and Laura Vajanne. 4. Exchange Rate Variations and U.S.Multinational Corporations’ Profits: The Case of the 1980s. Luc C Moens. 5. Real Exchange Rate and the Sectoral Composition of Output: Some Evidence from Japan Sadequl Islam. 6. Time-Varying Risk Premia and the Efficiency of the New Zealand Foreign Exchange Market Dimitri Margaritis and Phay Hoon Teo. 7. European Monetary Integration: Theoretical Issues and Practical Implementations. André Fourçans. Part 2: Capital Markets 8. Optimal Leverage of a Dynamically Competitive Firm Dilip K Ghosh. 9. Is Diversification in International Capital markets Beneficial? Issues, Evidence and Prospects. Krishnan Dandapani and Jerry Haar. 10. International Co-movements of Capital Markets: Evidence from Two Scandinavian Stock Markets. Teppo Martikainen, Ilkka Virtanen and Paavo Yli-Olli. 11. Defeased Debt in International Capital Markets: Benefits and Problems. Emiel W Owens and Ronald F Singer. 12. Deregulation of Financial Institutions: Lessons from the North American Experience with Savings and Loan Associations. William A Dowling and George C Philippatos. 13. The ‘Round-Tripping’ Effect of Debt-Equity Swaps M T Vaziri and Hossein Shalchi. 14. Emerging Capital Markets and Economic Development Edgar Ortiz. Part 3: International Financial Management 15. Conditional Heteroskedasticity in Stock Returns: International Evidence Albert Corhay and Alireza Tourani Rad. 16. Effects of Monetary Gains and Losses on the Univariate Time-Series Characteristics of CDA Earnings. Hossein Shalchi and M T Vaziri. 17. Survival Analysis of Business Failures Rafael Solis. 18. Stakeholder Objectives and Government Incentives in East European Joint Ventures. David C Bangert. Part 4: International Banking and External Debt 19. Export Earnings Indexed Debt: Risk-Reduction and Linking External Debt to Exports Per B Mokkelbost. 20. The International Finance Corporation and Banks: IFC Syndications of its LDC Investments. James C Baker. 21. Some Issues in External Debt, Domestic Policies and Economic Development M Raquibuz Zaman. 22 MIGA: A New Kid on the Block. James C Baker. Index.
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