Global Capital Markets

Integration, Crisis, and Growth

Maurice Obstfeld, Alan M. Taylor

370 pages, parution le 07/12/2005

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Résumé

This book presents an economic survey of international capital mobility from the late nineteenth century to the present. The authors examine the theory and empirical evidence surrounding the fall and rise of integration in the world market. A discussion of institutional developments focuses on capital controls and the pursuit of macroeconomic policy objectives in shifting monetary regimes. The Great Depression emerges as the key turning point in recent history of international capital markets, and offers important insights for contemporary policy debates. Its principal legacy is that today's return to a world of global capital is marked by great unevenness in outcomes regarding both risks and rewards of capital market integration. More than in the past, foreign investment flows largely from rich countries to other rich countries. Yet most financial crises afflict developing countries, with costs for everyone.

Most succinct, up-to-date analysis available of global capital markets, hot topic
Senior author, world-class scholar, internationally renowned
Rich in historical perspective, clearly written, no math, just figures and tables

L'auteur - Maurice Obstfeld

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Economie internationale

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L'auteur - Alan M. Taylor

Alan M. Taylor: University of California, Davis

Sommaire

Global Capital Markets: Overview and Origins
Globalization in Capital Markets: Quantity Evidence
Globalization in Capital Markets: Price Evidence
Globalization in Capital Markets: A Long-Run Narrative
Monetary Policy Interdependence and Exchange-Rate Regimes
The Changing Nature of Government Credibility
Uneven Integration
Uneven Rewards and Risks
Data Appendix

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Caractéristiques techniques

	PAPIER
Éditeur(s)	Cambridge University Press
Auteur(s)	Maurice Obstfeld, Alan M. Taylor
Parution	07/12/2005
Nb. de pages	370
Format	15 x 23
Couverture	Broché
Poids	495g
Intérieur	Noir et Blanc
EAN13	9780521671798
ISBN13	978-0-521-67179-8