This book develops a descriptive theory of a financial system's organisations and functions. It uses an institutional economics framework to reconcile different approaches, including neo-classical financial theory and managerial finance. It will be useful for anyone who wishes to study a qualitative economic theory of financial system activity.
Understanding Financial Accounts seeks to show how a range of questions on financial developments can be answered with the framework of financial accounts and balance sheets, by providing non-technical explanations illustrated with practical examples.
Provides an in-depth overview of the Federal Reserve System, including information about monetary policy and the economy, the Federal Reserve in the international sphere, supervision and regulation, consumer and community affairs and services offered by Reserve Banks. Contains several appendixes, including a brief explanation of Federal Reserve regulations, a glossary of terms, and a list of additional publications.
This open access book gives a concise introduction to the practical implementation of monetary policy by modern central banks. It describes the conventional instruments used in advanced economies and the unconventional instruments that have been widely adopted since the financial crisis of 2007–2008. Illuminating the role of central banks in ensuring financial stability and as last resort lenders, it also offers an overview of the international monetary framework. A flow-of-funds framework is used throughout to capture this essential dimension in a consistent and unifying manner, providing a unique and accessible resource on central banking and monetary policy, and its integration with financial stability. Addressed to professionals as well as bachelors and masters students of economics, this book is suitable for a course on economic policy. Useful prerequisites include at least a general idea of the economic institutions of an economy, and knowledge of macroeconomics and monetary economics, but readers need not be familiar with any specific macroeconomic models.
Originally published in 1991, The Economic Organisation of a Financial System develops a descriptive theory of a financial system’s organisation and functions and applies the theory of organisational economics to the study of a financial system. The book attempts to reconcile neoclassical financial theory and managerial finance by synthesising the main findings of these studies within an institutional economics framework. The book helps to relate the complementary perspectives of current theory and current practice and aims to strengthen the relations between both theory and practice. The book’s contents provide a detailed illustration of how organisational economics can be put to work.
Economics of the International Financial System offers an illuminating, engaging and lucid account of the working of 21st-century global political economy. From a macroeconomic perspective, it explores how major capitalist economies are closely integrated with each other in that none can remain unaffected by economic events around the globe. The book is one of the first in its genre to examine: the origin and relevance of international money as a concept and phenomenon; the structure of various money markets; the nature and functioning of major international financial institutions such as the World Bank, International Monetary Fund (IMF) and International Bank for Reconstruction and Development (IBRD); and the dynamics of the new world financial system that emerged after the demise of Bretton Woods system. This will form an essential reading for students and scholars of international monetary economics, international corporate finance, researchers, policymakers, bankers and financial executives.
This edition of the OECD Sovereign Borrowing Outlook reviews developments in response to the COVID-19 pandemic for government borrowing needs, funding conditions and funding strategies in the OECD area.
Analyses governance structures for international finance, evaluates current regulatory reforms and proposes a new governance system for global financial markets.
Jomo Kwame Sundaram is assistant secretary general for economic development at the United Nations and research coordinator for the G24 Intergovernmental Group on International Monetary Affairs and Development. In 2007 he was awarded the Wassily Leontief Prize for Advancing the Frontiers of Economic Thought. --Book Jacket.
Based on detailed research and consultation with experts, including the Bank of England, this book reviews theoretical and historical debates on the nature of money and banking and explains the role of the central bank, the Government and the European Union. Following a sell out first edition and reprint, this second edition includes new sections on Libor and quantitative easing in the UK and the sovereign debt crisis in Europe.
