The Eurocurrency markets, domestic financial policy and international instability

書誌事項

The Eurocurrency markets, domestic financial policy and international instability

Heather D. Gibson

(St. Antony's/Macmillan series)

Macmillan in association with St. Antony's College, Oxford, 1989

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注記

Bibliography: p. 257-267

Includes index

内容説明・目次

内容説明

The 1970s witnessed a general dismantling of controls on capital and a growing interdependence between the financial markets of industrial and developing nations. This volume aims to provide explanations and solutions to the major questions raised by these developments, and argues for greater official intervention in the international financial system. The author attempts to determine the role that the Euromarkets have played in creating the interdependence between financial markets by investigating the relationship that exists between American and British monetary conditions, focusing on the removal of exchange controls in the United Kingdom in 1979 and the impact this had on the conduct of monetary policy. The author then looks at the effect of interdependence on the stability of the international monetary system, concentrating on the role of the banks in the international debt crisis.

目次

  • Introduction: history of the Eurocurrency markets. Part 1 Interdependence, arbitrage and the removal of UK capital controls: interdependence and monetary policy
  • the effect of the Eurocurrency markets on the arbitrage process - the Mundell-Fleming propositions
  • some empirical analysis of the US and the UK - Eurodollar-Eurosterling relation and US domestic arbitrage, domestic sterling and Eurodollar, domestic sterling relations, interdependence and monetary policy in the UK. Part 2 Competition, efficiency and stability in financial markets - the case of the international credit markets: competition, stability and efficiency in international banking
  • maturity transformation, risk-return analysis and credit rationing in the Euro-markets
  • policy implications of the internationalization of capital.

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