In this updated fourth edition, author Maurice Levi successfully integrates both the micro and macro aspects of international finance. He sucessfully explores managerial issues and focuses on problems arising from financial trading relations between nations, whilst covering key topics such as: _ organization of foreign exchange markets _ determination of exchange rates _ the fundamental principles of international finance _ foreign exchange risk and exposure _ fixed and flexible exchange rates. This impressive new edition builds and improves upon the popular style and structure of the…mehr
In this updated fourth edition, author Maurice Levi successfully integrates both the micro and macro aspects of international finance. He sucessfully explores managerial issues and focuses on problems arising from financial trading relations between nations, whilst covering key topics such as:
_ organization of foreign exchange markets _ determination of exchange rates _ the fundamental principles of international finance _ foreign exchange risk and exposure _ fixed and flexible exchange rates.
This impressive new edition builds and improves upon the popular style and structure of the original. With new data, improved pedagogy, and coverage of all of the main developments in international finance over the last few years, this book will prove essential reading for students of economics and business.
Preface 1 THE WORLD OF INTERNATIONAL FINANCE PART I THE MARKETS FOR FOREIGN EXCHANGE 2 AN INTRODUCTION TO EXCHANGE RATES 3 FORWARD EXCHANGE 4 CURRENCY FUTURES AND OPTIONS MARKETS PART II THE DETERMINATION OF EXCHANGE RATES 5 THE BALANCE OF PAYMENTS 6 SUPPLY-AND-DEMAND VIEW OF EXCHANGE RATES PART III THE FUNDAMENTAL INTERNATIONAL PARITY CONDITIONS 7 THE PURCHASING-POWER-PARITY PRINCIPLE 8 INTEREST PARITY PART IV MANAGING FOREIGN EXCHANGE RISK AND EXPOSURE 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 PART V INTERNATIONAL INVESTMENT AND FINANCING 14 CASH MANAGEMENT 15 PORTFOLIO INVESTMENT 16 CAPITAL BUDGETING FOR FOREIGN INVESTMENTS 17 THE GROWTH AND CONCERNS ABOUT MULTINATIONALS 18 INTERNATIONAL DIMENSIONS OF LONG-TERM FINANCING PART VI INSTITUTIONAL STRUCTURE OF INTERNATIONAL TRADE AND FINANCE 19 MULTINATIONAL BANKING 20 INSTRUMENTS AND INSTITUTIONS OF INTERNATIONAL TRADE PART VII THE INTERNATIONAL MACROECONOMIC ENVIRONMENT: THEORIES AND PRACTICES 21 ASSET-BASED THEORIES OF EXCHANGE RATES 22 ALTERNATIVE SYSTEMS OF EXCHANGE RATES 23 THE INTERNATIONAL FINANCIAL SYSTEM: PAST, PRESENT, AND FUTURE
Preface 1 THE WORLD OF INTERNATIONAL FINANCE PART I THE MARKETS FOR FOREIGN EXCHANGE 2 AN INTRODUCTION TO EXCHANGE RATES 3 FORWARD EXCHANGE 4 CURRENCY FUTURES AND OPTIONS MARKETS PART II THE DETERMINATION OF EXCHANGE RATES 5 THE BALANCE OF PAYMENTS 6 SUPPLY-AND-DEMAND VIEW OF EXCHANGE RATES PART III THE FUNDAMENTAL INTERNATIONAL PARITY CONDITIONS 7 THE PURCHASING-POWER-PARITY PRINCIPLE 8 INTEREST PARITY PART IV MANAGING FOREIGN EXCHANGE RISK AND EXPOSURE 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 PART V INTERNATIONAL INVESTMENT AND FINANCING 14 CASH MANAGEMENT 15 PORTFOLIO INVESTMENT 16 CAPITAL BUDGETING FOR FOREIGN INVESTMENTS 17 THE GROWTH AND CONCERNS ABOUT MULTINATIONALS 18 INTERNATIONAL DIMENSIONS OF LONG-TERM FINANCING PART VI INSTITUTIONAL STRUCTURE OF INTERNATIONAL TRADE AND FINANCE 19 MULTINATIONAL BANKING 20 INSTRUMENTS AND INSTITUTIONS OF INTERNATIONAL TRADE PART VII THE INTERNATIONAL MACROECONOMIC ENVIRONMENT: THEORIES AND PRACTICES 21 ASSET-BASED THEORIES OF EXCHANGE RATES 22 ALTERNATIVE SYSTEMS OF EXCHANGE RATES 23 THE INTERNATIONAL FINANCIAL SYSTEM: PAST, PRESENT, AND FUTURE
Preface 1 THE WORLD OF INTERNATIONAL FINANCE PART I THE MARKETS FOR FOREIGN EXCHANGE 2 AN INTRODUCTION TO EXCHANGE RATES 3 FORWARD EXCHANGE 4 CURRENCY FUTURES AND OPTIONS MARKETS PART II THE DETERMINATION OF EXCHANGE RATES 5 THE BALANCE OF PAYMENTS 6 SUPPLY-AND-DEMAND VIEW OF EXCHANGE RATES PART III THE FUNDAMENTAL INTERNATIONAL PARITY CONDITIONS 7 THE PURCHASING-POWER-PARITY PRINCIPLE 8 INTEREST PARITY PART IV MANAGING FOREIGN EXCHANGE RISK AND EXPOSURE 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 PART V INTERNATIONAL INVESTMENT AND FINANCING 14 CASH MANAGEMENT 15 PORTFOLIO INVESTMENT 16 CAPITAL BUDGETING FOR FOREIGN INVESTMENTS 17 THE GROWTH AND CONCERNS ABOUT MULTINATIONALS 18 INTERNATIONAL DIMENSIONS OF LONG-TERM FINANCING PART VI INSTITUTIONAL STRUCTURE OF INTERNATIONAL TRADE AND FINANCE 19 MULTINATIONAL BANKING 20 INSTRUMENTS AND INSTITUTIONS OF INTERNATIONAL TRADE PART VII THE INTERNATIONAL MACROECONOMIC ENVIRONMENT: THEORIES AND PRACTICES 21 ASSET-BASED THEORIES OF EXCHANGE RATES 22 ALTERNATIVE SYSTEMS OF EXCHANGE RATES 23 THE INTERNATIONAL FINANCIAL SYSTEM: PAST, PRESENT, AND FUTURE
Preface 1 THE WORLD OF INTERNATIONAL FINANCE PART I THE MARKETS FOR FOREIGN EXCHANGE 2 AN INTRODUCTION TO EXCHANGE RATES 3 FORWARD EXCHANGE 4 CURRENCY FUTURES AND OPTIONS MARKETS PART II THE DETERMINATION OF EXCHANGE RATES 5 THE BALANCE OF PAYMENTS 6 SUPPLY-AND-DEMAND VIEW OF EXCHANGE RATES PART III THE FUNDAMENTAL INTERNATIONAL PARITY CONDITIONS 7 THE PURCHASING-POWER-PARITY PRINCIPLE 8 INTEREST PARITY PART IV MANAGING FOREIGN EXCHANGE RISK AND EXPOSURE 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 PART V INTERNATIONAL INVESTMENT AND FINANCING 14 CASH MANAGEMENT 15 PORTFOLIO INVESTMENT 16 CAPITAL BUDGETING FOR FOREIGN INVESTMENTS 17 THE GROWTH AND CONCERNS ABOUT MULTINATIONALS 18 INTERNATIONAL DIMENSIONS OF LONG-TERM FINANCING PART VI INSTITUTIONAL STRUCTURE OF INTERNATIONAL TRADE AND FINANCE 19 MULTINATIONAL BANKING 20 INSTRUMENTS AND INSTITUTIONS OF INTERNATIONAL TRADE PART VII THE INTERNATIONAL MACROECONOMIC ENVIRONMENT: THEORIES AND PRACTICES 21 ASSET-BASED THEORIES OF EXCHANGE RATES 22 ALTERNATIVE SYSTEMS OF EXCHANGE RATES 23 THE INTERNATIONAL FINANCIAL SYSTEM: PAST, PRESENT, AND FUTURE
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`.. will prove useful to all students of economics, finance and business management.' - Banking World
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