国际金融 理论与实务 theory & practicePDF电子书下载

Chapter 1 The Balance of Payments 1

1.1 Accounting Principles 1

1.2 Balance-of-Payments Structure 4

1.3 Classifications of Transaction 9

1.4 Balance-of-Payments Equilibrium 12

Summary 14

Chapter 2 Balance-of-Payments Adjustment and Determinants of the Balance of Trade and Payments 17

2.1 BOP Adjustments under Fixed Exchange Rates 17

2.2 Determinants of Balance of Trade and Payments 32

Summary 49

Chapter 3 International Monetary System 52

3.1 The Gold Standard Era,1870-1914 52

3.2 The Inter-War Period,1919-1939 55

3.3 The Bretton Woods Period,1946-1971 56

3.4 The Floating Rate Period,1971 to Present 63

3.5 Optimum Currency Areas and the EMS 66

3.6 The Euro 68

Summary 69

Chapter 4 Exchange-Rate Systems 71

4.1 Foreign Exchange-Rate Practices 71

4.2 Fixed Exchange-Rate System 74

4.3 Flexible Exchange-Rate System 79

4.4 Hybrid Exchange-Rate System 84

4.5 Adjustable Pegged Rates 85

4.6 The Crawling Peg 91

4.7 Exchange Controls 93

4.8 Currency Boards 94

4.9 Dollarization 96

Summary 97

Chapter 5 Foreign-Exchange Market and Financial Derivatives 99

5.1 Understanding the Foreign-Exchange Market 99

5.2 Spot Market 104

5.3 Financial Derivatives 111

5.4 Foreign-Exchange Market Speculation 129

Summary 132

Chapter 6 Exchange Rates,Interest Rates,and Interest Parity 135

6.1 Interest Parity 135

6.2 Interest Arbitrage 138

6.3 Interest Rates and Inflation 141

6.4 Exchange Rates,Interest Rates,and Inflation 141

6.5 Expected Exchange Rates and Term Structure of Interest Rates 142

Summary 152

Chapter 7 Foreign-Exchange Risk and Forecasting 154

7.1 Foreign-Exchange Risk 154

7.2 Foreign-Exchange Forecasting 161

Summary 169

Chapter 8 Exchange-Rate Determination 171

8.1 Exchange-Rate Determination—A Free Market 171

8.2 Prices and Exchange Rates；Purchasing Power Parity 192

8.3 The Asset Approach 203

8.4 Equilibrium Approach 208

Summary 209

Chapter 9 Import and Export Financing 212

9.1 Institutions 212

9.2 Financing International Trade 214

9.3 Nontraditional Trade Finance 218

9.4 An Example of Trade Financing 221

Summary 222

Chapter 10 Financial Management of the Multinational Enterprises 224

10.1 Portfolio Diversification 224

10.2 Transfer Price 227

10.3 Home Bias in International Investment 230

10.4 International Investment Opportunities 231

10.5 Direct Foreign Investment 232

10.6 Capital Flight 234

10.7 Capital Inflow Issues 235

10.8 Capital Budgeting 235

Summary 237

Chapter 11 International Banking：Reserves,Debt,and Risk 239

11.1 Nature of International Reserves 239

11.2 International Lending Crisis 253

Summary 268

Chapter 12 Macroeconomic Policy in the Open Economy 270

12.1 Economic Objectives of Nations 270

12.2 Policy Instruments 271

12.3 Policy Effects 273

12.4 Internal and External Macroeconomic Equilibrium 280

12.5 Monetary Policy under Fixed Exchange Rates 285

12.6 Fiscal Policy under Fixed Exchange Rates 286

12.7 Monetary Policy under Floating Exchange Rates 287

12.8 Fiscal Policy under Floating Exchange Rates 289

12.9 International Policy Coordination 289

Summary 293

References 296