Download or read book National Financial Systems Globalization and Investment written by Marc Woodson Schaberg and published by . This book was released on 1997 with total page 620 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Globalization and the Erosion of National Financial Systems written by Marc Schaberg and published by Edward Elgar Publishing. This book was released on 1999 with total page 208 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is an examination of the impact of different financial systems on investment. The text considers the increasing effects of globalization on the relationship between financial systems and investment, with particular reference to the USA, UK, France, Japan and Germany.
Download or read book Globalization and National Financial Systems written by James A. Hanson and published by World Bank Publications. This book was released on 2003 with total page 304 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book breaks new ground by exploring the challenges, constraints, and opportunities of national financial systems in developing countries, while noting that all such systems must be considered small when viewed in the context of global finance. Banking, securities, contractual savings, and systemic macroeconomic aspects are all considered.
Download or read book Integration and adjustment of global economies written by Masaichi Mizuno, Theodor Dams and published by Duncker & Humblot. This book was released on 2021 with total page 236 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is concerned with various aspects of global economies. Economists from the Universities of Freiburg i. Br. and Nagoya/Japan had met in a joint seminar to discuss these problems. Their analysis concentrated on current trends in Europe and in Asia with special emphasis on Japan. The first part of the extended and updated seminar contributions stresses the importance of foreign direct investment in the process of globalization. The second part deals with the deficiencies and required adjustments of financial institutions. The last part of the book explores international issues on the level of business policy, including the development of global competition, of environmental policies and of world-wide integration of information and communication technologies. The objective of the joint seminar, as reflected in this book, is the mutual understanding of economic problems that emerge with the interplay of globalization and national interests.
Download or read book Financial Globalization written by Jason H. Cardwell and published by . This book was released on 2010 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Financial globalisation refers to the ongoing integration of once poorly connected national financial markets. A key aspect of globalisation is a decline in financial home bias -- the tendency for domestic saving to be invested predominantly at home, with domestic portfolios tilted heavily toward home-country assets. Recent years have in fact seen a pronounced decline in home bias, with a record fraction of global saving going to cross-border investments. Indeed, in 2005 and 2006, the share of global saving invested abroad climbed past 50 percent for the first time. The trend toward greater cross-border investment has been world-wide, with the United States, other advanced economies, and emerging economies all investing a markedly higher fraction of saving abroad. Significantly, U.S. external investment as a share of saving has risen less dramatically than the share for other countries. Comparing the mid-1990s with the middle of the current decade, we see that U.S. outflows as a share of domestic saving have risen by roughly 20 percentage points; the increase abroad has been close to 35 percentage points. As a result, the United States now lags the rest of the world by a considerable margin in the share of national saving invested abroad. It is instructive to consider the smaller scale of outflows from the United States in light of the current account balance of payments accounting identity described earlier. In particular, had outflows from the United States risen in line with the global trend, the country would have required that much more inward investment to finance an unchanged sequence of current account deficits. In turn, more robust U.S. demand for foreign assets, and the consequent need to attract additional inflows, would have placed downward pressure on the dollar, leading to at least somewhat smaller deficits. This scenario illustrates a more general point: developments that lead to shifts in gross capital flows have important feedback effects on net flows.
Download or read book Following the Money written by National Research Council and published by National Academies Press. This book was released on 1995-11-12 with total page 225 pages. Available in PDF, EPUB and Kindle. Book excerpt: Many questions have been raised about America's status in the increasingly interconnected global economy. Yet key factsâ€"such as the amount of foreign assets abroad owned by U.S. citizensâ€"are not known. The crucial data needed to assess the U.S. position are unavailable. This volume explores significant shortcomings in U.S. data on international capital transactions and their implications for policymakers. The volume offers clearcut recommendations for U.S. agencies to bring data collection and analyses of the global economy into the twenty-first century. The volume explores: How factors emerging since the early 1980s have shaped world financial markets and revealed shortcomings in data collection and analysis. How the existing U.S. data system works and where it fails how measurements of international financial transactions are recorded; and how swaps, options, and futures present special reporting problems. How alternative methods, such as collecting data, from sources such as global custodians and international clearinghouses, might improve coverage and accuracy.
Download or read book Open Doors written by Robert E. Litan and published by Rowman & Littlefield. This book was released on 2004-05-13 with total page 452 pages. Available in PDF, EPUB and Kindle. Book excerpt: A Brookings Institution Press, the World Bank, and the International Monetary Fund publication The extensive reforms and liberalization of financial services in emerging markets worldwide call for cutting-edge strategies to capture the benefits of new investment opportunities. In Open Doors, a volume of papers from the third annual Financial Markets and Development conference, multidisciplinary financial sector experts analyze current economic and political trends and prescribe practical advice to the financial development community. The book addresses the key issues of concern regarding the emerging markets, including the trends, motivations, and scope of FDI in finance; policy options that will best capture the opportunities of foreign entry; and the role of foreign institutions in e-finance innovation. The authors focus on specific topics such as foreign participation in emerging market banking systems and securities industries, WTO policies and enforcement, the role of foreign banks, liberalization of insurance markets, the need for capital markets, and the policy, regulatory, and legal issues associated with e-finance. For policymakers and financial practitioners affected by the WTO's Financial Services Agreement, this timely book should be of particular interest. Contributors include Donald Mathieson (International Money Fund), Pierre Sauvé (Trade Directorate, OECD), George J. Vojta (formerly with Bankers Trust and Citibank), Harold D. Skipper (J. Mack Robinson College of Business, Georgia State University), Benn Steil (Council on Foreign Relations), Morris Goldstein and Edward M. Graham (Institute for International Economics), Nicolas Lardy (Brookings Institution), Phillip Turner (Bank of International Settlements), and Robert Ledig (Fried, Frank, Shriver & Jacobson).
Download or read book Globalization and International Investment written by Fiona Beveridge and published by Taylor & Francis. This book was released on 2017-07-05 with total page 522 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume brings together a broad range of articles on international law and foreign investment which together provide a contemporary overview of the diverse range of issues and perspectives which continue to exercise policy-makers and scholars alike. Central to this collection is the tension between market-oriented reforms on the one hand, raising issues of market access and protection of investors, and corporate social responsibility discourses on the other, raising concerns about environmental protection and respect for human and labour rights. Regional perspectives on these issues reveal differing priorities and approaches.
Download or read book Effects of Financial Globalization on Developing Countries written by Mr.Ayhan Kose and published by International Monetary Fund. This book was released on 2003-09-03 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study provides a candid, systematic, and critical review of recent evidence on this complex subject. Based on a review of the literature and some new empirical evidence, it finds that (1) in spite of an apparently strong theoretical presumption, it is difficult to detect a strong and robust causal relationship between financial integration and economic growth; (2) contrary to theoretical predictions, financial integration appears to be associated with increases in consumption volatility (both in absolute terms and relative to income volatility) in many developing countries; and (3) there appear to be threshold effects in both of these relationships, which may be related to absorptive capacity. Some recent evidence suggests that sound macroeconomic frameworks and, in particular, good governance are both quantitatively and qualitatively important in affecting developing countries’ experiences with financial globalization.
Download or read book Financial Markets in Transition written by Lars Oxelheim and published by Arden Shakespeare. This book was released on 1996 with total page 464 pages. Available in PDF, EPUB and Kindle. Book excerpt: Looks at the process of transition from independent national financial markets to a more integrated, globalized market and the key factors that lie behind growth, change and competitive success.
Download or read book Globalization in Historical Perspective written by Michael D. Bordo and published by University of Chicago Press. This book was released on 2007-11-01 with total page 598 pages. Available in PDF, EPUB and Kindle. Book excerpt: As awareness of the process of globalization grows and the study of its effects becomes increasingly important to governments and businesses (as well as to a sizable opposition), the need for historical understanding also increases. Despite the importance of the topic, few attempts have been made to present a long-term economic analysis of the phenomenon, one that frames the issue by examining its place in the long history of international integration. This volume collects eleven papers doing exactly that and more. The first group of essays explores how the process of globalization can be measured in terms of the long-term integration of different markets-from the markets for goods and commodities to those for labor and capital, and from the sixteenth century to the present. The second set of contributions places this knowledge in a wider context, examining some of the trends and questions that have emerged as markets converge and diverge: the roles of technology and geography are both considered, along with the controversial issues of globalization's effects on inequality and social justice and the roles of political institutions in responding to them. The final group of essays addresses the international financial systems that play such a large part in guiding the process of globalization, considering the influence of exchange rate regimes, financial development, financial crises, and the architecture of the international financial system itself. This volume reveals a much larger picture of the process of globalization, one that stretches from the establishment of a global economic system during the nineteenth century through the disruptions of two world wars and the Great Depression into the present day. The keen analysis, insight, and wisdom in this volume will have something to offer a wide range of readers interested in this important issue.
Download or read book The Next Great Globalization written by Frederic S. Mishkin and published by Princeton University Press. This book was released on 2009-10-08 with total page 321 pages. Available in PDF, EPUB and Kindle. Book excerpt: Many prominent critics regard the international financial system as the dark side of globalization, threatening disadvantaged nations near and far. But in The Next Great Globalization, eminent economist Frederic Mishkin argues the opposite: that financial globalization today is essential for poor nations to become rich. Mishkin argues that an effectively managed financial globalization promises benefits on the scale of the hugely successful trade and information globalizations of the nineteenth and twentieth centuries. This financial revolution can lift developing nations out of squalor and increase the wealth and stability of emerging and industrialized nations alike. By presenting an unprecedented picture of the potential benefits of financial globalization, and by showing in clear and hard-headed terms how these gains can be realized, Mishkin provides a hopeful vision of the next phase of globalization. Mishkin draws on historical examples to caution that mismanagement of financial globalization, often aided and abetted by rich elites, can wreak havoc in developing countries, but he uses these examples to demonstrate how better policies can help poor nations to open up their economies to the benefits of global investment. According to Mishkin, the international community must provide incentives for developing countries to establish effective property rights, banking regulations, accounting practices, and corporate governance--the institutions necessary to attract and manage global investment. And the West must be a partner in integrating the financial systems of rich and poor countries--to the benefit of both. The Next Great Globalization makes the case that finance will be a driving force in the twenty-first-century economy, and demonstrates how this force can and should be shaped to the benefit of all, especially the disadvantaged nations most in need of growth and prosperity.
Download or read book Globalization and Poverty written by Ann Harrison and published by University of Chicago Press. This book was released on 2007-11-01 with total page 674 pages. Available in PDF, EPUB and Kindle. Book excerpt: Over the past two decades, the percentage of the world’s population living on less than a dollar a day has been cut in half. How much of that improvement is because of—or in spite of—globalization? While anti-globalization activists mount loud critiques and the media report breathlessly on globalization’s perils and promises, economists have largely remained silent, in part because of an entrenched institutional divide between those who study poverty and those who study trade and finance. Globalization and Poverty bridges that gap, bringing together experts on both international trade and poverty to provide a detailed view of the effects of globalization on the poor in developing nations, answering such questions as: Do lower import tariffs improve the lives of the poor? Has increased financial integration led to more or less poverty? How have the poor fared during various currency crises? Does food aid hurt or help the poor? Poverty, the contributors show here, has been used as a popular and convenient catchphrase by parties on both sides of the globalization debate to further their respective arguments. Globalization and Poverty provides the more nuanced understanding necessary to move that debate beyond the slogans.
Download or read book Understanding Financial Interconnectedness written by International Monetary Fund. Strategy, Policy, & Review Department and published by International Monetary Fund. This book was released on 2010-04-10 with total page 45 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper seeks to advance our understanding of global financial interconnectedness by (i) mapping aspects of the architecture of global finance and (ii) investigating critical fault lines related to interconnectedness along which systemic risks were built up and shocks transmitted in the crisis. It thus takes initial steps toward operationalizing enhanced financial sector and macro-financial surveillance called for by the IMF’s Executive Board and by experts such as de Larosiere et al. (2009). Getting a better handle on interconnectedness would strengthen the Fund‘s ability, together with the Financial Stability Board, to track systemic risk concentrations. It would also inform spillover and vulnerability analyses, and sharpen bilateral and multilateral surveillance.
Download or read book Global Financial Stability Report October 2019 written by International Monetary Fund. Monetary and Capital Markets Department and published by International Monetary Fund. This book was released on 2019-10-16 with total page 109 pages. Available in PDF, EPUB and Kindle. Book excerpt: The October 2019 Global Financial Stability Report (GFSR) identifies the current key vulnerabilities in the global financial system as the rise in corporate debt burdens, increasing holdings of riskier and more illiquid assets by institutional investors, and growing reliance on external borrowing by emerging and frontier market economies. The report proposes that policymakers mitigate these risks through stricter supervisory and macroprudential oversight of firms, strengthened oversight and disclosure for institutional investors, and the implementation of prudent sovereign debt management practices and frameworks for emerging and frontier market economies.
Download or read book Global Financial Stability Report April 2021 written by International Monetary Fund and published by International Monetary Fund. This book was released on 2021-04-06 with total page 92 pages. Available in PDF, EPUB and Kindle. Book excerpt: Extraordinary policy measures have eased financial conditions and supported the economy, helping to contain financial stability risks. Chapter 1 warns that there is a pressing need to act to avoid a legacy of vulnerabilities while avoiding a broad tightening of financial conditions. Actions taken during the pandemic may have unintended consequences such as stretched valuations and rising financial vulnerabilities. The recovery is also expected to be asynchronous and divergent between advanced and emerging market economies. Given large external financing needs, several emerging markets face challenges, especially if a persistent rise in US rates brings about a repricing of risk and tighter financial conditions. The corporate sector in many countries is emerging from the pandemic overindebted, with notable differences depending on firm size and sector. Concerns about the credit quality of hard-hit borrowers and profitability are likely to weigh on the risk appetite of banks. Chapter 2 studies leverage in the nonfinancial private sector before and during the COVID-19 crisis, pointing out that policymakers face a trade-off between boosting growth in the short term by facilitating an easing of financial conditions and containing future downside risks. This trade-off may be amplified by the existing high and rapidly building leverage, increasing downside risks to future growth. The appropriate timing for deployment of macroprudential tools should be country-specific, depending on the pace of recovery, vulnerabilities, and policy tools available. Chapter 3 turns to the impact of the COVID-19 crisis on the commercial real estate sector. While there is little evidence of large price misalignments at the onset of the pandemic, signs of overvaluation have now emerged in some economies. Misalignments in commercial real estate prices, especially if they interact with other vulnerabilities, increase downside risks to future growth due to the possibility of sharp price corrections.
Download or read book Economics of Sovereign Wealth Funds written by Mr.Udaibir S. Das and published by International Monetary Fund. This book was released on 2010-12-09 with total page 330 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book covers a wide range of topics of relevance to policymakers in countries that have sovereign wealth funds (SWFs) and those that receive SWF investments. Renowned experts in the field have contributed chapters. The book is organized around four themes: (1) the role and macrofinancial linkages of SWFs, (2) institutional factors, (3) investment approaches and financial markets, and (4) the postcrisis outlook. The book also discusses the challenges facing sovereign wealth funds in the coming years, from an inside perspective on countries, including Canada, Chile, China, Norway, Russia, and New Zealand. Economics of Sovereign Wealth Funds will contribute to a further understanding of the nature, strategies and behavior of SWFs and the environment in which they operate, as their importance is likely to grow in the coming years.
