[PDF] The Integration Of World Capital Markets eBook

Author : Maurice Obstfeld
Publisher : Cambridge University Press
Page : 386 pages
File Size : 46,52 MB
Release : 2004
Category : Business & Economics
ISBN : 9780521671798

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This book is an economic survey of international capital mobility from the late nineteenth century to the present.

Author : Mr.Michael Mussa
Publisher : International Monetary Fund
Page : 66 pages
File Size : 14,56 MB
Release : 1993-12-01
Category : Business & Economics
ISBN : 145195039X

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This paper discusses the extent to which national capital markets have become linked, and identifies several of the more important consequences of that increased degree of integration. Alternative approaches to the measurement of capital market integration are reviewed, including deviations from the law of one price, differences between actual and optimally diversified portfolios, correlations between domestic investment and domestic saving, and cross-country links in consumption behavior. Two recent episodes of large-scale international capital flows—namely, the turmoil in the European Monetary System in the fall of 1992, and the surge of capital inflows into Latin America during the last three years—are examined for insights into the workings of today’s global capital market. Finally, the paper offers some concluding remarks on the future development of international capital markets, on exchange rate management, on alternative approaches to living with larger and more influential financial markets, and on the financing of investment in the formerly centrally planned economies.

Author : Michael L. Mussa
Publisher :
Page : 66 pages
File Size : 31,96 MB
Release : 2006
Category :
ISBN :

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This paper discusses the extent to which national capital markets have become linked, and identifies several of the more important consequences of that increased degree of integration. Alternative approaches to the measurement of capital market integration are reviewed, including deviations from the law of one price, differences between actual and optimally diversified portfolios, correlations between domestic investment and domestic saving, and cross-country links in consumption behavior. Two recent episodes of large-scale international capital flows--namely, the turmoil in the European Monetary System in the fall of 1992, and the surge of capital inflows into Latin America during the last three years--are examined for insights into the workings of today`s global capital market. Finally, the paper offers some concluding remarks on the future development of international capital markets, on exchange rate management, on alternative approaches to living with larger and more influential financial markets, and on the financing of investment in the formerly centrally planned economies.

Author : Scott McCleskey
Publisher : Butterworth-Heinemann
Page : 184 pages
File Size : 50,92 MB
Release : 2004-01-02
Category : Business & Economics
ISBN : 9780750657457

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Providing an overview of the infrastructure of European Securities markets, this text offers topical analysis of developments and trends in market integration. The author provides industry professionals with a concise exposition of how the post-Euro market works, as well as offering laymen an entry point into the subject. Topics include: wholesale electronic execution; central counterpart clearing; and consolidation of the securities depositories.

Author : Haluk Akdoğan
Publisher : Edward Elgar Publishing
Page : 214 pages
File Size : 48,92 MB
Release : 1995
Category : Business & Economics
ISBN :

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The integration of international capital markets is central to the major economic changes taking place throughout the world. This key issue in global finance is analyzed, both theoretically and empirically, in this book.

Author : Augusto de la Torre
Publisher : World Bank Publications
Page : 232 pages
File Size : 20,83 MB
Release : 2006-10-20
Category : Business & Economics
ISBN : 0821365444

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Back in the early 1990s, economists and policy makers had high expectations about the prospects for domestic capital market development in emerging economies, particularly in Latin America. Unfortunately, they are now faced with disheartening results. Stock and bond markets remain illiquid and segmented. Debt is concentrated at the short end of the maturity spectrum and denominated in foreign currency, exposing countries to maturity and currency risk. Capital markets in Latin America look particularly underdeveloped when considering the many efforts undertaken to improve the macroeconomic environment and to reform the institutions believed to foster capital market development. The disappointing performance has made conventional policy recommendations questionable, at best. 'Emerging Capital Markets and Globalization' analyzes where we stand and where we are heading on capital market development. First, it takes stock of the state and evolution of Latin American capital markets and related reforms over time and relative to other countries. Second, it analyzes the factors related to the development of capital markets, with particular interest on measuring the impact of reforms. And third, in light of this analysis, it discusses the prospects for capital market development in Latin America and emerging economies and the implications for the reform agenda.

Author : Maurice Obstfeld
Publisher : Cambridge University Press
Page : 382 pages
File Size : 43,94 MB
Release : 2004-02-19
Category : Business & Economics
ISBN : 9780521633178

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