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.

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

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

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

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

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

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

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