'Thomas Marois' book, States, Banks and Crisis, is highly attractive to development scholars because of the combinations of topics it discusses, the countries analyzed, and its characterization of financial capital as dominant. In the last century the states of Mexico and Turkey promoted robust economic growth guided by powerful public banking organizations. The book captures how this came to a halt since the 1980s through the privatizing of economic activity, especially banking activities in ways that induced steep banking crises that halted economic development. Marois discusses the theory and history of Mexico and Turkey in depth offering an excellent analysis of their neoliberal experiences while proposing new alternatives to reshape the linkages between the financial sector and economic growth.' - Noemi Levy, National Autonomous University of Mexico (UNAM), Mexico City Thomas Marois' groundbreaking interpretation of banking and development in Mexico and Turkey builds on a Marxian-inspired framework premised on understanding states and banks as social relationships alongside crisis and labor as vital to finance today. The book's rich historical and empirical content reveals definite institutionalized relationships of power that mainstream political economists often miss. While leading to a timely analysis of the impact of the Great Recession on Mexico and Turkey, the major contribution of States, Banks and Crisis in its account of emerging finance capitalism. This is defined as the current phase of accumulation wherein the interests of financial capital are fused in the state apparatus as the institutionalized priorities and overarching social logic guiding the actions of state managers and government elites, often to the detriment of labor. This interdisciplinary and accessible study on banking and development will prove to be an important resource for upper-level undergraduates, graduates, and scholars in economics, development studies, political science, political economy, development finance, sociology, international relations and international political economy.

The use of the US dollar for domestic monetary transactions outside the USA has gone on for many years now - Panama in 1904 being the earliest example. Since the advent of the Euro, the debate over the benefits of monetary integration has warmed up - particularly for NAFTA countries.
This collection, with contributions from experts such as Philip Arestis, Malcolm Sawyer and Stephanie Bell, examines the various problems and benefits involved in monetary integration and covers the causes of Euro instability, monetary policy in non-optimal currency unions, financial openness and dollarization and the question of dollarization in Canada.
This book addresses one of the burning policy issues in Europe and America: is monetary union worthwhile? The readable yet comprehensive style of this book will make it of interest not only to academics and students involved in European integration, financial liberalization and dollarization, but will also be an important book for policy-makers at intergovernmental level.

Many books have addressed the economic and financial history of Hong Kong, and the imperialist conflicts in the key Chinese port-cities but very few books have explored French initiatives and performance in this area, beyond diplomacy, geopolitics or cultural issues. In this book, Hubert Bonin confronts arguments about "the great divergence", "the first globalisation", and forms of "economic patriotism". He gauges the competitive edge of French companies and banks, their struggle with British domination (HBSC, Chartered, shipping, trade houses/hongs) and their resistance against competitors from other countries (Japan, Germany, Netherlands, Belgium, USA, or Russia). The book delves into studies of management abroad, therefore mixing broad geo-economic issues with precise business history and deep banking history. The connections between French interests in China and Hong Kong and the colony of Indochina are established too. A second part of the book is dedicated to the case study of Hong Kong, as the British colony acted as a hub for Asian and European interests at the heart of connections with mainland China and some neighbouring territories (Indochina, etc.). This is essential reading for academics interested in banking and business history, the history of entrepreneurship, as well as, those involved in the contemporary history of China and Hong Kong, in the assessment of world-wide geo-economic competition between European powers in Asia (Great-Britain, and France), and in the first stages of economic "modernity", along European models, in emerging modern China.

The prohibition of interest is the feature of Islamic banking which most distinctly sets it apart from conventional banking. To Western eyes, this seems a strange restriction, but Christian countries themselves maintained such a ban for 1,400 years. Islamic Banking asks why Islam has been able to maintain its stand. The book explores the intricacies of Islamic law and the religious and ethical principles underpinning Islamic banking. It then considers the analytical basis of Islamic banking and financing in the light of modern theories of financial intermediation, and identifies the conceptual issues to be overcome. Following case studies of the operations of Islamic banks in Bahrain, Bangladesh, Egypt, Jordan, Malaysia and Australia, along with Iran, Pakistan and Sudan, the volume concludes that many of the criticisms of their activities seem misplaced. It argues that the factors governing success are the distinctive system of corporate governance and continued product innovation. The book ends by considering four such innovations - Islamic investment banking and project finance, Islamic insurance, Islamic securities and the formation of a pan-Islamic international financial centre. This pathbreaking volume - the first to consider Islamic banking and finance from a global perspective - will be of great interest to scholars of money and banking, international finance and Middle Eastern studies.

An analysis of the major securities, derivatives and money markets from an operations point of view, 'Understanding the Markets' takes the reader through the major features and characteristics of the markets and the products. The relationship between the trading and dealing functions and the operations functions is examined and the issues discussed.
This book looks at the financial markets from the viewpoint of the person working in the operations functions that support the trading, dealing and investment processes, and as such is essential reading in order to fully understand the industry - an industry which has gone, and is still going through, much change.
As the markets undergo change so too do the administration, clearing and settlement functions, as the clearing houses, securities depositories and custodians merge and diversify. This is going to impact on the operations teams that support the trading, sales and retail business. A failure to be aware of and to understand the impact of changes in the markets will create massive problems, greater risk and ultimately financial losses. And yet the sheer size and diversity of the global markets, together with the rapid pace of change and expansion, and the increasing volume of transactions needing to be processed, presents a massive challenge to operations teams and managers.
Knowing how the markets work and what impacts on the operations team is crucial for managers and supervisors. In this book the author provides a full explanation of the markets and their impact in operations terms. So if you are about to embark on a career in operations 'Understanding the Markets' is essential reading. Alternatively, if you are planning a career as a dealer it will prove very useful in explaining the process that occurs after you have traded.
The definitive series of professional references for those finance professionals concerned with "Back office" or operations management unique to this industry.Presents concise references on the essential management functions such as technology, client services, and risk management for financial operations management professionals.A comprehensive resource from a leading financial management consultant for global banks and institutions.

Pieces of paper that claimed to be good for two dollars upon redemption at a distant bank. Foreign coins that fluctuated in value from town to town. Stock certificates issued by turnpike or canal companies-worth something...or perhaps nothing. IOUs from farmers or tradesmen, passed around by people who could not know the person who first issued them. Money and banking in antebellum America offered a glaring example of free-market capitalism run amok-unregulated, exuberant, and heading pell-mell toward the next "panic" of burst bubbles and hard times. In Other People's Money, Sharon Ann Murphy explains how banking and money worked before the federal government, spurred by the chaos of the Civil War, created the national system of US paper currency. Murphy traces the evolution of banking in America from the founding of the nation, when politicians debated the constitutionality of chartering a national bank, to Andrew Jackson's role in the Bank War of the early 1830s, to the problems of financing a large-scale war. She reveals how, ultimately, the monetary and banking structures that emerged from the Civil War also provided the basis for our modern financial system, from its formation under the Federal Reserve in 1913 to the present. Touching on the significant role that numerous historical figures played in shaping American banking-including Alexander Hamilton, James Madison, Benjamin Franklin, Henry Clay, Daniel Webster, and Louis Brandeis- Other People's Money is an engaging guide to the heated political fights that surrounded banking in early America as well as to the economic causes and consequences of the financial system that emerged from the turmoil. By helping readers understand the financial history of this period and the way banking shaped the society in which ordinary Americans lived and worked, this book broadens and deepens our knowledge of the Early American Republic.

Banking and finance play a fundamental role in public policy and economic performance as well as in all forms of commerce and industry. They are crucial in determining whether society - from governments to individual consumers - succeeds in following an environmentally sustainable path. However, those working in the financial sector are largely unaware of the rationale and pressures for sustainable development and its bearing on their work, while those in the relevant research and policy areas commonly overlook how vital the financial sector is for progress. Marcel Jeucken sets out to rectify this state of affairs, in a style which is accessible to those with no experience of environmental finance issues. He provides a comprehensive account of their interdependence: why the financial sector is crucial to achieving sustainability and why the triple bottom line of commercial, environmental and social success points the way forward for banking. From a systematic assessment of major banks around the world, he presents a comprehensive account of current best practice, an analysis of the differences in approach and performance, and recommendations of actions and policies for improved performance that will contribute to sustainable development.

The extensive reforms and liberalization of financial services in emerging markets worldwide call for cutting-edge strategies to capture the benefits of new investment opportunities. In Open Doors, a volume of papers from the third annual Financial Markets and Development conference, multidisciplinary financial sector experts analyze current economic and political trends and prescribe practical advice to the financial development community. The book addresses the key issues of concern regarding the emerging markets, including the trends, motivations, and scope of FDI in finance; policy options that will best capture the opportunities of foreign entry; and the role of foreign institutions in e-finance innovation. The authors focus on specific topics such as foreign participation in emerging market banking systems and securities industries, WTO policies and enforcement, the role of foreign banks, liberalization of insurance markets, the need for capital markets, and the policy, regulatory, and legal issues associated with e-finance. For policymakers and financial practitioners affected by the WTO's Financial Services Agreement, this timely book should be of particular interest. Contributors include Donald Mathieson (International Money Fund), Pierre Sauv? (Trade Directorate, OECD), George J. Vojta (formerly with Bankers Trust and Citibank), Harold D. Skipper (J. Mack Robinson College of Business, Georgia State University), Benn Steil (Council on Foreign Relations), Morris Goldstein and Edward M. Graham (Institute for International Economics), Nicolas Lardy (Brookings Institution), Phillip Turner (Bank of International Settlements), and Robert Ledig (Fried, Frank, Shriver & Jacobson).

Based on archival sources, this history of the Export-Import Bank of the United States (Ex-Im), focuses on its role in the growing involvement of the U.S. in the international economy. Over the last two decades the Bank has carried on its Congressionally-mandated mission in an increasingly complicated environment; brought on by changes in private capital markets, Congressional constraints on its budgets, major financial crises in Latin America and Southeast Asia. It has survived despite the latest developments in communications and information technology, and the demands of non-governmental organizations (NGOs) devoted to environmental protection.

After barely half a century of experience, Islamic banking has become established as a new niche industry across the world, offering new and sophisticated financial products designed to be compliant with Islamic legal principles and common law. This comprehensive book explores the theory, principles and practices underpinning this rapidly expanding sector of banking. Expert contributors - including eminent scholars and senior practitioners in the field - examine the roots of the principles of ethical Islamic financial transactions, which have evolved over several millennia, on issues including usury, interest rates, and financial contracting for funding enterprises, mortgages, leasing and other transactions. Regulatory and governance issues are discussed, and the practice and operation of Islamic financial institutions are explained via three distinct case studies. Importantly, the final chapter looks at what steps are being taken to provide professional accreditation to Islamic banking professional personnel, and prescribes requirements for training in this growing industry. This rich and wide-ranging guide to the foundations and fundamental principles of this new form of ethics-based financial practice will prove a fascinating and illuminating read for regulators, practitioners, and scholars in the fields of economics, finance, money and banking. Contributors: I. Abraham, S.O. Alhabshi, S.H. Aljunid, M. Ariff, M.K. Badar, I. Bhatti, M. Bhatti, E. Girard, K. Hassan, T. Hassan, M. Iqbal, M.K. Lewis, C. Mews, A. Saeed, S.H. Razak, M. Shamsher, M.T. Skully, A. Walsh, M. Zaman

The Encyclopedic Dictionary of International Finance and Banking is a practical reference of proven techniques, strategies, and approaches. It covers virtually all important topics dealing with multinational business finance, money, investments, financial planning, financial economics, and banking. In addition, it explores the application of computers, quantitative techniques and models, and economics to international finance and banking. You get:
o Clear definitions and explanations
o Step-by-step instructions
o Statistical data, Charts, exhibits, and diagrams
o Checklists
o Practical Applications

Shim presents the most current information, offers important directives, and explains the technical procedures involved in this dynamic field. This reference gives you the tools you need to diagnose and evaluate the financial situations you face on a daily basis and answers every question you may have. It provides real-life examples and suggestions for handling everyday problems.

WHAT THIS BOOK WILL DO FOR YOU

More than a dictionary, more than an encyclopedia, this working guide will help you quickly pinpoint:
o What to look for
o How to do it
o What to watch out for
o How to apply it in the complex world of business
o What to do

You'll find ratios, formulas, examples, applications, exhibits, charts, and rules of thumb to help you analyze and evaluate any multinational financial decision. You will find this Encyclopedic Dictionary practical, comprehensive, quick, and useful. In short, this is a veritable cookbook of guidelines, illustrations, and how-tos. Encyclopedic Dictionary of International Finance and Banking is the resource you will reach for again and again.

The German state banks - or Landesbanks - are not only some of the largest banks in Germany but are also a dominant force in the international banking sector. These state-owned banks enjoy special privileges and government support which have made them major players in the global arena of banking and finance.Protected by the German taxpayer's seemingly bottomless pockets in the form of state warranties, Landesbanks are able to take part in financing some of the largest projects in the world. They occupy nearly fifty per cent of the top places in both Moody's and Standard and Poor's international rankings. Professor Sinn critically scrutinizes the privileges of the German Landesbanks and questions the justification of government intervention in the banking sector. He predicts that European integration and the introduction of the euro will lead to a fierce take-over battle between Europe's banks. He argues that, given the state warranties, it seems likely that the German Landesbanks will be among the winners in this battle and concludes that the German public banking system has grown far larger than is appropriate for a market economy. This timely book addresses issues of concern for European bankers and policymakers alike. It will also be of interest to students and scholars of financial economics, European integration and money and banking.

Banking on Knowledge is one of the first studies of the way in which the World Bank is reinventing itself as the 'Knowledge Bank'. The contributions to Banking on Knowledge are from an internationally acclaimed group of experts, including an original and groundbreaking piece by Joseph Stiglitz, former Chief Economist and Vice President of the World Bank. Subjects covered include:
* the changing policy emphasis within the World Bank as it develops alliances with non-governmental actors and promotes civil society
* first-hand accounts of the making of this new global network amidst the plethora of existing political, commercial and non-governmental networks
* detailed case studies of the problems faced by think tanks and other knowledge institutions across the world
* whether knowledge, information and data is used by experts successfully to influence policy.
Timely, original and provocative, this book is essential reading for students, researchers, policy makers and professionals with an interest in the future of the World Bank, the role of think tanks and the changing nature of development.

Series Information:
Foundations of the Market Economy

bBanking on Knowledge is one of the first studies of the way in which the World Bank is reinventing itself as the 'Knowledge Bank'. The book addresses how international organizations and governments are developing partnerships with think tanks, research institutes and other knowledge institutions in the hope of informing and improving policies for reform and development around the world.
Subjects covered include:
* the changing policy emphasis within the World Bank as it develops alliances with non-governmental actors and promotes civil society
* first-hand accounts of the making of this new global network amidst the plethora of existing political, commercial and non-governmental networks
* detailed case studies of the problems faced by think tanks and other knowledge institutions across the world
* whether knowledge, information and data is used by experts successfully to influence policy.
Timely, original and provocative, this book is essential reading for students, researchers, policy makers and professionals with an interest in the future of the World Bank, the role of think tanks and the changing nature of development.

First Published in 2000. Routledge is an imprint of Taylor & Francis, an informa company.

Given the significant changes in the banking environment and the resultant pressures on banks to change their systems and procedures, this book is a timely reference that provides a comprehensive analytical overview of changes in the performance measurement system (PMS) of banks in the post-financial crisis era. It explores the factors that influence such changes and examines banks' consequential responses to institutional pressures. It is an invaluable resource for researchers and practitioners to gain insights into the concept of PMS change in both developed and developing economies.

The market-based interest rate reform remains a core part of China's financial reforms, and an important topic of both theoretical and policy studies. This book presents a comprehensive analysis of the process and logic of China's interest rate reform from a historical perspective. It is structured along three lines, i.e. loosening interest rate controls, establishing market-based interest rates, and building an effective interest rate adjustment mechanism, and systematically reviews the characteristics and evolvement of the reform process. The book further explores the lessons and challenges of the reform by examining China's development stage and auxiliary reforms needed, and offers policy recommendations on how to further push forward the reform.

Series Information:
Financial Sector of the American Economy

This series focuses on topics such as international financial markets, pricing options on foreign assets and the ECU as the financing currency. This volume includes a section on European acquisitions by French banks, strategies and the European financial structure. Other areas covered include: regulatory taxes; investment and financing decisions for insured banks; free trade and the European financial structure; and a critical reexamination of the return geneship process of the arbitrage pricing theory.

Economic Institutions and Democratic Reform rigorously and systematically explores the political effects and consequences of economic reform in more than 20 post-communist countries. By using primary quantitative data and stringent statistical analyses, Ole Norgaard demonstrates that there is no universally applicable economic reform strategy and that popular democracy is often the foundation of a successful economy, rather than a powerful executive or president, as is popularly asserted. The book also shows that generalised models are not productive when studying the complexity of post-communist transformation. The author argues that the danger to democracy comes from the alienation of citizens and the collapse of public service and education systems instigated by individuals who, with few democratic credentials, capture the political playing field. These leaders have often been encouraged by Western governments who believe democracy can only be imposed on reluctant societies by newborn capitalist elites. This book will be essential and challenging reading for political scientists and economists as well as policymakers in NGOs, such as aid agencies and the institutions of the EU.

"World Strategic Highways" provides a detailed examination of approximately 50 of the most important "strategic highways" in the world. These highways may take the form of roads, railways, rivers and canals, or air and sea routes. They have one thing in common: they are of special significance because, throughout history, they have acted as major trade routes for a number of countries; have military or strategic significance; act to bind a country or countries together; or, in the case of rivers, act as boundaries between two or more countries. They include the Suez and Panama canals, the Rhine and Amazon rivers, the Trans-US Railway, the Khyber Pass and Maputo Corridor, the Silk Road, the Cape sea route and the Pacific sea route. Location maps are provided throughout the book.

Financial technology-or fintech-is gaining in popularity globally as a way of making financial services more efficient and accessible. In rapidly developing China, fintech is taking off, catering to markets that state-owned banks and an undersized financial sector do not serve amid a backdrop of growing consumption and a large, tech-savvy millennial generation. It is becoming increasingly likely that some of China's fintech firms will change the way the world does business. In China's Fintech Explosion, Sara Hsu and Jianjun Li explore the transformative potential of China's financial-technology industry, describing the risks and rewards for participants as well as the impact on consumers. They cover fintech's many subsectors, such as digital payment systems, peer-to-peer lending and crowdfunding, credit card issuance, internet banks, blockchain finance and virtual currencies, and online insurance. The book highlights the disruption of traditional banking as well as the risks of fintech and regulatory technology. Hsu and Li describe major companies including Alipay and Tencent, developer of WeChat Pay and a wealth-management business, and other leading fintech firms such as Creditease, Zhong An Insurance, and JD Finance. Offering expert analysis of market potential, risks, and competition, as well as case studies of firms and consumer behavior, China's Fintech Explosion is a must-read for anyone interested in one of the world's breakout sectors.

After fifty years the Deutsche Bundesbank - the central bank that dominated European monetary affairs - has stepped down to entrust monetary policy to the European Central Bank (ECB). This is the first research work to thoroughly explore the lessons to be learned from the Bundesbank by the ECB, in areas such as price stability and political interference.

eBook available with sample pages: EB:0203462424

When China's economic reforms were beginning, there was an expectation in the west that China's financial markets would be opened to western banks and that China's banks would be reformed along western lines. Joint ventures between Chinese banks and western banks, minority shareholding by western banks and the involvement of western banking personnel in assisting Chinese banks with their reforms were all seen as moves towards reform along western lines. This book analyses the role which western bankers have played in China's economic reforms, focusing on their influence on institutional change and corporate governance. Based on extensive original research, the book shows that while components of western models of corporate governance have been widely adopted, the motivation for these changes seems to have been legitimacy-seeking by Chinese banks, and that whilst there has been relatively rapid change in the formal legislative environment, informal organisational practices are changing at a much slower pace. Alliances between Chinese and western banks are woven with contradictions and power games and so many actors in the Chinese banking sector seek to resist manipulation by their western counterparts. The financial crisis weakened the idea that western banks are a universally correct model and strengthened China's resolve to keep control of its banking sector and manage it along Chinese lines.