Financial Markets and the Global Economy

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103 pages
Taal:
 English
The book examines operation of GFM and how financial crises have occurred in developed and developing countries.
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Over de auteur

John completed a Bachelor of Economics from the University of Sydney, Master of Economics from the University of New England and a M.A and PhD in Economics from Duke University, USA. He spent 22 years as an academic economist at the University of New South Wales, Australia including the Head of Depart...

Mehdi completed a B.S. in Economics from Utah State University and a M.S. and a Ph.D in Economics from Southern Illinois University, Carbondale, Illinois, U.S.A. His extensive experience in the banking and finance sector includes positions as Executive Director, Bank Refah and Bank Omran, Tehran, Iran...

Description
Content

  1. Money and Monetary Policy in the Global Economy
    1. Evolution of the Monetary Policy
    2. The Role of the Central Bank
    3. International Capital Mobility (ICM)
    4. Macroeconomic Stabilization in European Monetary Union
  2. Free Trade or Trade Restriction
    1. Some Statistical Trends
    2. Trade Barriers and Protections
    3. Custom Union and Monetary Union
    4. Free Trade Area
    5. Advantages and Disadvantages of Free Trade
  3. Foreign Exchange Markets
    1. Floating Exchange Rate Regime
    2. Fixed Exchange Rate System
    3. The European Monetary System (EMS)
    4. Central Bank Intervention
    5. Different Types of Exchange Rate
    6. Exchange Rate and the Balance of Payments
  4. International Financial Institutions
    1. International Monetary Funds (IMF)
  5. Globalization in Trade and Capital Flows
    1. Historical Background
    2. Globalization in Trade
    3. Globalization in Finance
    4. Benefits and Costs
    5. Safeguarding financial stability
  6. Great Depression and Great Recession Compared Does History Repeat Itself?
    1. The Great Depression 1929 - 19393
    2. The Great Recession 2007 – 2009 (and far longer in some countries)
  7. International financial crises in developed and developing economies
    1. 1980s
    2. 1990s
    3. 2000s
  8. European Monetary Union and Sovereign Debt Crises
    1. Historical Background
    2. Evolution of the crisis
  9. Evaluation of Reforms Post-Financial Crises
    1. Regulatory Reforms
    2. Success of Regulations and Reforms
    3. The Regulatory Problems
    4. Monetary Policy Reforms
    5. Strengthening Regulations and Guidance

Global Financial markets (GFM) provide a link between borrowers and lenders across national boundaries. While performing their function, GFMs may introduce severe volatility and instability in the real economic activity affecting national income, output and employment. These instabilities lead to financial crises and recession. International capital mobility and free trade link the financial markets globally, causing volatility and instability in one region to be transferred to the rest of the world – this is called contagion.

The book examines operation of GFM and how financial crises have occurred in developed and developing countries. 

About the authors

Dr Mehdi Monadjemi has extensive experience in the banking and finance sector in various countries. He spent 20 years as an academic economist at the University of New South Wales, Australia. Dr John Lodewijks has worked for the University of New South Wales, the University of Western Sydney and the S P Jain School of Global Management.