Leonard N. Stern School of Business

Global Financial Markets - Update

A guide to the workings of the world's currency, money and capital, commodities and derivatives markets.

by Ian H. Giddy, Stern School of Business, New York University

Contents Part 1 Part 2 Part 3 Part 4 Part 5 About the book


New: self-test problems on the foreign-exchange and Eurocurrency markets.


This document contains updates to my book, Global Financial Markets (Houghton Mifflin, 1994). It also contains information on developments and research in the international financial markets that might be of interest to students and professionals.

Contents

PART 1: A FRAMEWORK FOR INTERNATIONAL FINANCE

Chapter 1 Chapter 2 Chapter 3 Chapter 4 Chapter 5


Chapter 1: An Introduction to the World of International Finance

The changing role of the World Bank; The international financial system


Chapter 2: The Foreign-Exchange and Eurocurrency Markets

Foreign exchange dealing volume; Foreign exchange in the electronic age; Bid-ask spreads in the foreign exchange market; New research results


Chapter 3: Interest Rates in the Global Money Market


Chapter 4: Exchange-Rate Systems

Exchange-Rate Arrangements; New national accounts; Hong Kong versus ERM; The European Monetary System


Chapter 5: Exchange Rates, Interest Rates, and Inflation Rates: An Integrated Framework

Forward rate bias and expected inflation



PART 2: FOREIGN-EXCHANGE PREDICTION AND HEDGING TOOLS

Chapter 6 Chapter 7 Chapter 8


Chapter 6: Currency Prediction Versus Market Efficiency

Forward rate bias and expected inflation; New research results


Chapter 7: Currency Forwards and the Futures Market

Futures in Speculation; Forwards in Speculation; A problem's problem


Chapter 8: Foreign-Exchange Options

Quanto options--applications; Hedging options positions; New research results



PART 3: INTERNATIONAL BANKING AND CREDIT MARKETS

Chapter 9 Chapter 10 Chapter 11


Chapter 9: International Banking and Credit

The Euro-commercial paper and Euronote markets


Chapter 10: Instruments of the International Money Market

New variations on floating-rate notes; The Euro-commercial paper and Euronote markets--an update


Chapter 11: The Global Debt Problem

Emerging Markets; China; Emerging Market Debt Trading; Privatization in Eastern Europe



PART 4: INTERNATIONAL CAPITAL MARKETS

Chapter 12 Chapter 13 Chapter 14 Chapter 15


Chapter 12: The International Bond Market

The Eurobond Market in 1993; The Eurobond Market in 1994; Domestic bond markets--Japan; International Bond Market Computations


Chapter 13: Currency and Interest-Rate Swaps

Innovative swaps; Procter's Diff Swap Gamble


Chapter 14: International Equity Markets and Portfolio Diversification

Emerging Stock Markets; Performance attribution for international portfolios; Global market capitalization; New research results


Chapter 15: Global Commodity Markets

Commodity futures and interest-rate futures; The Convest-Paribas oil swap; Metallgesellschaft; New research results



PART 5: INTERNATIONAL FINANCING

Chapter 16 Chapter 17


Chapter 16: International Financing Decisions

Corporate Hedging and Speculation; Self-Financing; New research results


Chapter 17: The Future: Understanding and Using New Instruments

New structured floating-rate notes; Corridor Floaters


About the book, Global Financial Markets Materials available to instructors

Global Financial Markets is published by Houghton Mifflin, 2075 Foxfield Road, St. Charles, Illinois 60174, USA.

To order individual copies call 800-225-1464.

For information about academic purchases or adoption contact Faculty Services (1-800-733-1717), or fax them at 800-733-1810.


Go to Giddy's Web Portal Contact Ian Giddy at ian.giddy@nyu.edu