Governing Global Derivatives: Challenges and Risks (Hardback) book cover

Governing Global Derivatives

Challenges and Risks

By Chiara Oldani

© 2008 – Routledge

230 pages

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Hardback: 9780754674641
pub: 2008-11-14
eBook (VitalSource) : 9781315253923
pub: 2016-12-05
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Governing Global Derivatives analyzes the role of the most important financial innovation of the last two decades - financial derivatives - in a global dimension. The evolution of derivatives, especially Over the Counter (OTC), and the possibility of managing risks tailored to customers' needs, are the basic recipe for the success of derivatives. This book focuses on the role of derivatives from a macroeconomic point of view, considering how monetary theory and policy, fiscal policy and the growth process are affected. It fills a gap by rethinking the way financial markets are considered in the macroeconomy and the transmission mechanism of impulses.


'The subprime crisis and the prolonged turbulence are the results of financial deregulation and freedom allowed by national and international financial institutions, unable to cope with such risks, and unaware of macroeconomic effects of derivatives. The research provides useful insights into the potential danger we have not yet experienced: sovereign debt management by means of derivatives. This book will be valuable for academics, professionals and civil servants willing to understand such complex financial phenomena.' Paolo Savona, Luiss G Carli University, Rome, Italy 'In her book Governing Global Derivatives, Professor Chiara Oldani makes understanding complex financial instruments more user friendly. In the niche arena of economics, derivatives are by far the most difficult to articulate with seamless fluidity. Professor Oldani does so with ease.' D. Sidney Potter, author of The Flip: The True Life Story of How a New Tract Home Investor Went from Zero to Hero, Back to Zero

Table of Contents

Contents: Preface; The macroeconomics of derivatives: the issue of measurement and accounting; Derivatives and monetary policy: global stability; Derivatives and fiscal policy: risks and hazard; The theory of investments and derivatives: the frontier of economic analysis; Summary; Challenges in governing global derivatives; References; Index.

About the Author

Chiara Oldani is Lecturer of Economics, Faculty of Political Science, University of Viterbo 'La Tuscia', Italy.

About the Series

Global Finance

Global Finance
The intensifying globalisation of the twenty-first century has brought a myriad of new managerial and political challenges for governing international finance. The return of synchronous global slowdown, mounting developed country debt, and new economy volatility have overturned established economic certainties. Proliferating financial crises, transnational terrorism, currency consolidation, and increasing demands that international finance should better serve public goods such as social and environmental security have all arisen to compound the problem. The new public and private international institutions that are emerging to govern global finance have only just begun to comprehend and respond to this new world. Embracing international financial flows and foreign direct investment, in both the private and public sector dimensions, this series focuses on the challenges and opportunities faced by firms, national governments, and international institutions, and their roles in creating a new system of global finance.

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