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Author: Yoon S. Park Publisher: Springer Science & Business Media ISBN: 9400925042 Category : Business & Economics Languages : en Pages : 271
Book Description
The development of international financial centers (IFCs) has paralleled the rapid expansion of international banking and Eurocurrency activities. During the past decade and a half, the international banking and financial markets have experienced phenomenal growth along with the parallel expansion of IFCs. The size of the Eurocurrency market grew from $110 billion in 1970 to over $4,000 billion by 1987, while the total international assets of all banking institutions rose from $130 billion to $4,800 billion during the same period. Some of the preeminent IFCs are playing a major role in the international financial markets, as demonstrated by the size of their international assets: Bahamas ($144 billion), Cayman Islands ($174 billion), Singapore ($150 billion), Hong Kong ($130 billion), Bahrain ($46 billion), and Panama ($32 billion). The patterns of Euroborrowing and Eurolending activities in these IFCs have been undergoing major changes. These changes came about as a result of the introduction of the floating exchange rate system in 1973, recent financial deregulation, internationalization of the financial markets, securitization of financial assets and liabilities, and global financial innovations. Since the pioneering work of Kindleberger in 1974 on the formation of financial centers, there has not been a comprehensive study to reflect the recent developments, trends and the mystique that have surrounded the IFCs' functions and operations in the international money and capital markets.
Author: Yoon S. Park Publisher: Springer Science & Business Media ISBN: 9400925042 Category : Business & Economics Languages : en Pages : 271
Book Description
The development of international financial centers (IFCs) has paralleled the rapid expansion of international banking and Eurocurrency activities. During the past decade and a half, the international banking and financial markets have experienced phenomenal growth along with the parallel expansion of IFCs. The size of the Eurocurrency market grew from $110 billion in 1970 to over $4,000 billion by 1987, while the total international assets of all banking institutions rose from $130 billion to $4,800 billion during the same period. Some of the preeminent IFCs are playing a major role in the international financial markets, as demonstrated by the size of their international assets: Bahamas ($144 billion), Cayman Islands ($174 billion), Singapore ($150 billion), Hong Kong ($130 billion), Bahrain ($46 billion), and Panama ($32 billion). The patterns of Euroborrowing and Eurolending activities in these IFCs have been undergoing major changes. These changes came about as a result of the introduction of the floating exchange rate system in 1973, recent financial deregulation, internationalization of the financial markets, securitization of financial assets and liabilities, and global financial innovations. Since the pioneering work of Kindleberger in 1974 on the formation of financial centers, there has not been a comprehensive study to reflect the recent developments, trends and the mystique that have surrounded the IFCs' functions and operations in the international money and capital markets.
Author: International Monetary Fund. Monetary and Capital Markets Department Publisher: INTERNATIONAL MONETARY FUND ISBN: 9781498372930 Category : Business & Economics Languages : en Pages : 0
Book Description
The current report finds that, despite an improvement in economic prospects in some key advanced economies, new challenges to global financial stability have arisen. The global financial system is being buffeted by a series of changes, including lower oil prices and, in some cases, diverging growth patterns and monetary policies. Expectations for rising U.S. policy rates sparked a significant appreciation of the U.S. dollar, while long term bond yields in many advanced economies have decreased—and have turned negative for almost a third of euro area sovereign bonds—on disinflation concerns and the prospect of continued monetary accommodation. Emerging markets are caught in these global cross currents, with some oil exporters and other facing new stability challenges, while others have gained more policy space as a result of lower fuel prices and reduced inflationary pressures. The report also examines changes in international banking since the global financial crisis and finds that these changes are likely to promote more stable bank lending in host countries. Finally, the report finds that the asset management industry needs to strengthen its oversight framework to address financial stability risks from incentive problems between end-investors and portfolio managers and the risk of runs due to liquidity mismatches.
Author: Alfred Slager Publisher: Springer ISBN: 0230625045 Category : Business & Economics Languages : en Pages : 223
Book Description
Increasingly the world's largest banks have more activity happening internationally. What are the effects of internationalization, and what is a successful business model for the future? This book explores the formulation, implementation and evaluation of internationalization strategies, examining those of the leading banks in eight countries.
Author: Mr.Gianni De Nicolo Publisher: International Monetary Fund ISBN: 1451857608 Category : Business & Economics Languages : en Pages : 46
Book Description
This paper documents global trends in bank activity, consolidation, internationalization, and financial firm conglomeration, and explores the extent to which financial firm risk and systemic risk potential in banking are related to consolidation and conglomeration. We find that while there is a substantial upward trend in conglomeration globally, consolidation and internationalization exhibit uneven patterns across world regions. Trends in consolidation and conglomeration indicate increased risk profiles for large, conglomerate financial firms, and higher levels of systemic risk potential for more concentrated banking systems. We outline research directions aimed at explaining why bank consolidation and conglomeration do not necessarily yield either safer financial firms or more resilient banking systems.
Author: Mr.Gian Milesi-Ferretti Publisher: International Monetary Fund ISBN: 1451962835 Category : Business & Economics Languages : en Pages : 34
Book Description
This note documents and assesses the role of small financial centers in the international financial system using a newly-assembled dataset. It presents estimates of the foreign asset and liability positions for a number of the most important small financial centers, and places these into context by calculating the importance of these locations in the global aggregate of cross-border investment positions. It also reports some information on bilateral cross-border investment patterns, highlighting which countries engage in financial trade with small financial centers.
Author: United States. Congress. House. Committee on Banking, Finance, and Urban Affairs. International Competitiveness of United States Financial Institutions Task Force Publisher: ISBN: Category : Banks and banking Languages : en Pages : 386
Author: Thorsten Beck Publisher: World Bank Publications ISBN: Category : Business enterprises Languages : en Pages : 60
Book Description
Using a firm-level survey database covering 48 countries, Beck, Demirgüç-Kunt, and Maksimovic investigate whether differences in financial and legal development affect the way firms finance their investments. The results indicate that external financing of investments is not a function of institutions, although the form of external finance is. The authors identify two explanations for this. First, legal and financial institutions affect different types of external finance in offsetting ways. Second, firm size is an important determinant of whether firms can have access to different types of external finance. Larger firms with financing needs are more likely to use external finance compared with small firms. The results also indicate that these firms are more likely to use external finance in more developed financial systems, particularly debt and equity finance. The authors also find evidence consistent with the pecking order theory in financially developed countries, particularly for large firms. This paper--a product of Finance, Development Research Group--is part of a larger effort in the group to understand firms' access to financial services.
Author: Even Lange Publisher: Routledge ISBN: 1351952935 Category : Business & Economics Languages : en Pages : 366
Book Description
This volume presents a broad investigation into the relationship between the centre and the periphery in banking. Focusing on the historical development of financial markets, from their emergence in the early modern period to today's global financial and capital markets, the chapters investigate how local, national and international relationships have affected and helped shape the banking industry over three-hundred years. This wide-ranging discussion in time and place is provided by a group of international experts, encompassing bankers, economists, economic historians and historians, and will be of interest to all those with a scholarly or professional interest in the development of financial institutions.
Author: James R. Barth Publisher: Springer Science & Business Media ISBN: 0387937692 Category : Business & Economics Languages : en Pages : 661
Book Description
China’s emerging financial markets reflect the usual contrast between the country’s measured approach toward policy, regulatory, and market reform, and the dynamic pace of rapid economic growth and development. But they also offer unusual challenges and opportunities. In the past five years, the pace of opening and reform has accelerated sharply. Recapitalization and partial privatization of the largest banks, and the allowance of some joint venture and branch operations for foreign financial institutions, are making rapid headway in developing and expanding financial services and improving access to domestic business and households. This book provides the most extensive look available at the evolving Chinese financial system. It begins with alternative perspectives on the evolution of the financial system and the broad outlines of its prospects and potential contribution to economic growth. Three articles review broad aspects of the financial system. Franklin Allen, Jun ‘‘QJ’’ Qian, Meijun Qian, and Mengxin Zhao lead off with overviews of the banking system and performance of the equity market and other institutions.
Author: Yoon S. Park
Author: Yoon S. Park
Author: International Monetary Fund. Monetary and Capital Markets Department
Author: Alfred Slager
Author: Mr.Gianni De Nicolo
Author: Howard Curtis Reed
Author: Mr.Gian Milesi-Ferretti
Author: United States. Congress. House. Committee on Banking, Finance, and Urban Affairs. International Competitiveness of United States Financial Institutions Task Force
Author: Thorsten Beck
Author: Even Lange
Author: James R. Barth