The fifth edition of Maurice D. Levi’s classic textbook has been updated to incorporate the massive changes in the world of international finance of the past few years. In particular, the emergence of new markets is given broad coverage – particularly the rise to financial prominence of China and India and other growth economies in Asia and elsewhere. Key features of the book include:
- the impact of globalization and the greater connectedness of national economies and the world economy as a whole
- probably the best introduction to exchange rates available and how they directly impact upon firms as well as governments
- the continued massive impact of multinational corporations on the global financial scene as well as the opportunities presented by e-commerce.
The material is interlaced with a wealth of supplementary material including real world case studies, review questions, examples and objectives. The result is the most authoritative survey of international finance currently available.
Thoroughly updated and with a large amount of new information, this text will prove an indispensable guide to the inner workings of international finance to students of economics and business as well as professionals in the finance industry.
Table of Contents
1. The World of International Finance
2. An Introduction to Exchange Rates
3. Forward Exchange
4. Currency Futures and Options Markets
5. The Balance of Payments
6. Supply and Demand View of Exchange Rates
7. The Purchasing-Power Parity Principle
8. Interest Parity
9. Foreign Exchange Exposure and Risk
10. Accounting Exposure Versus Real Exposure
11. Operating Exposure
12. Hedging Risk and Exposure
13. Exchange Rate Forecasting and Speculation
14. Cash Management
15. Portfolio Investment
16. Capital Budgeting for Foreign Investment
17. The Growth and Concerns About Multinationals
18. International Dimensions of Long-Term Financing
19. Multinational Banking
20. Instruments and Institutions of International Trade
21. Asset-Based Theories of Exchange Rates
22. Alternative Systems of Exchange Rates
23. The International Financial System: Past, Present and Future
24. The Rise of the Asian Economies
25. Finance in Emerging Markets
Maurice D. Levi is Bank of Montreal Professor of International Finance in the Sauder School of Business at the University of British Columbia, Canada.