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Global capital markets : integration, crisis, and growth / Maurice Obstfeld, Alan M. Taylor.

By: Contributor(s): Material type: TextTextLanguage: English Series: Japan - U.S. Center Sanwa Monographs on International Financial MarketsPublication details: Cambridge : Cambridge University Press, 2004.Description: xviii, 354 páginas : tablas, gráficas ; 23 cmISBN:
  • 9780521671798
  • 0521671795
Subject(s): DDC classification:
  • 332.042  O17g  21
Other classification:
  • B27
Contents:
Part I. Preamble: 1. Global capital markets: overview and origins: 1.1 Theoretical benefits ; 1.2 Problems of supernational capital markets in practice ; 1.3 The emergence of world capital markets ; 1.4 The trilemma: capital mobility, the exchange rate, and monetary policy -- Part II. Global Capital in Modern Historical Perspective: 2. Globalization in capital markets: quantity evidence: 2.1 The stocks of foreign capital ; 2.2 The size of international flows ; 2.3 The saving-investment relationship ; 2.4 Caveats: quantity criteria -- 3. Globalization in capital markets: price evidence: 3.1 Real interest rate convergence ; 3.2 Exchange-risk free nominal interest parity ; 3.3 Purchasing power parity ; 3.4 Caveats: price criteria ; 3.5 Summary -- Part III. The Political Economy of Capital Mobility: 4. Globalization in capital markets: a long-run narrative: 4.1 Capital without constraints: the gold standard, 1870-1931 ; 4.2 Crisis and compromise: depression and war, 1931-46 ; 4.3 Containment then collapse: Bretton Woods, 1946-71 ; 4.4 Crisis and compromise II: the floating era, 1971-99 ; 4.5 Measuring financial integration using data on legal restrictions -- 5. The trilemma in history: 5.1 Methodology ; 5.2 Data sources ; 5.3 Stationarity of nominal interest rates ; 5.4 Empirical findings: pooled annual differences ; 5.5 Empirical findings: individual-country dynamics ; 5.6 Conclusion -- 6. Sovereign risk, credibility, and the gold standard: 6.1 Five suggestive cases ; 6.2 Econometric analysis ; 6.3 Conclusion -- Part IV. Lessons for Today: 7. Uneven rewards: 7.1 Foreign capital stocks: net versus gross ; 7.2 Foreign capital flows: rich versus poor ; 7.3 Foreign capital stocks: rich versus poor ; 7.4 Then: has foreign capital always been biased to the rich? ; 7.5 Now: have poor countries really liberalized their markets? ; 7.6 Variations in the types of capital flows ; 7.7 Summary -- 8. Uneven risks: 8.1 Open markets, crises, and volatility ; 8.2 Crises, controls and economic performance ; 8.3 Contagion and self-fulfilling crises ; 8.4 Market failure, government failure, and policy choices.
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Holdings
Item type Home library Call number Status Notes Date due Barcode Item holds
LIBRO FISICO Biblioteca Principal 332.042 O17g (Browse shelf(Opens below)) Available Mantener en colección. 29004018994193
Total holds: 0

Incluye referencias bibliográficas (páginas 315-348) e índice.

Part I. Preamble: 1. Global capital markets: overview and origins: 1.1 Theoretical benefits ; 1.2 Problems of supernational capital markets in practice ; 1.3 The emergence of world capital markets ; 1.4 The trilemma: capital mobility, the exchange rate, and monetary policy -- Part II. Global Capital in Modern Historical Perspective: 2. Globalization in capital markets: quantity evidence: 2.1 The stocks of foreign capital ; 2.2 The size of international flows ; 2.3 The saving-investment relationship ; 2.4 Caveats: quantity criteria -- 3. Globalization in capital markets: price evidence: 3.1 Real interest rate convergence ; 3.2 Exchange-risk free nominal interest parity ; 3.3 Purchasing power parity ; 3.4 Caveats: price criteria ; 3.5 Summary -- Part III. The Political Economy of Capital Mobility: 4. Globalization in capital markets: a long-run narrative: 4.1 Capital without constraints: the gold standard, 1870-1931 ; 4.2 Crisis and compromise: depression and war, 1931-46 ; 4.3 Containment then collapse: Bretton Woods, 1946-71 ; 4.4 Crisis and compromise II: the floating era, 1971-99 ; 4.5 Measuring financial integration using data on legal restrictions -- 5. The trilemma in history: 5.1 Methodology ; 5.2 Data sources ; 5.3 Stationarity of nominal interest rates ; 5.4 Empirical findings: pooled annual differences ; 5.5 Empirical findings: individual-country dynamics ; 5.6 Conclusion -- 6. Sovereign risk, credibility, and the gold standard: 6.1 Five suggestive cases ; 6.2 Econometric analysis ; 6.3 Conclusion -- Part IV. Lessons for Today: 7. Uneven rewards: 7.1 Foreign capital stocks: net versus gross ; 7.2 Foreign capital flows: rich versus poor ; 7.3 Foreign capital stocks: rich versus poor ; 7.4 Then: has foreign capital always been biased to the rich? ; 7.5 Now: have poor countries really liberalized their markets? ; 7.6 Variations in the types of capital flows ; 7.7 Summary -- 8. Uneven risks: 8.1 Open markets, crises, and volatility ; 8.2 Crises, controls and economic performance ; 8.3 Contagion and self-fulfilling crises ; 8.4 Market failure, government failure, and policy choices.

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