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Books > Business & Economics > Economics > International economics > International finance
International Finance offers a clear and accessible introduction to
the fundamental principles and practice of international finance in
today's world, from the international financial environment and
exchange rates, to financing multinational companies and
international investment. The theory and techniques are presented
with the non-financial manager in mind, and the theoretical
material is supplemented by case studies and a discussion of the
appropriateness of the various techniques and principles to solve
practical problems. This book draws from examples and practice
around the world, helping students of international corporate
finance, particularly non-specialist finance students, understand
the complexities of modern Europe and comparative systems of
finance globally. International Finance is essential reading for
anyone studying international finance or needing an up-to-date,
engaging resource to help them navigate the complicated and
ever-changing global financial world. Key theories and terms are
explained and defined, avoiding unnecessary jargon and
acknowledging that many readers are coming to the subject with
little or no prior knowledge of corporate finance at all. Online
supporting resources include PowerPoint lecture slides.
This is an open access title available under the terms of a CC
BY-NC-SA 3.0 IGO licence. It is free to read at Oxford Scholarship
Online and offered as a free PDF download from OUP and selected
open access locations. International financial crises have plagued
the world in recent decades, including the Latin American debt
crisis of the 1980s, the East Asian crisis of the late twentieth
century, and the global financial crisis of 2007-09. One of the
basic problems faced during these crises is the lack of adequate
preventive mechanisms, as well as insufficient instruments to
finance countries in crisis and to overcome their
over-indebtedness. Resetting the International Monetary (Non)System
provides an analysis of the global monetary system and the
necessary reforms that it should undergo to play an active role in
the twenty-first century and proposes a comprehensive yet
evolutionary reform of the system. Criticising the ad hoc
framework- a "(non)system"- that has evolved following the
breakdown of the Bretton Woods arrangement in the early 1970's,
Resetting the International Monetary (Non)System places a special
focus on the asymmetries that emerging and developing countries
face, analysing the controversial management of crises by the
International Monetary Fund and proposing a consistent set of
reform proposals to design a better system of international
monetary cooperation. Policy orientated and structured to deal in a
sequential way with the issues involved, it suggests provision of
international liquidity through a system that mixes the
multicurrency arrangement with a more active use of the IMF's
Special Drawing Rights; stronger mechanisms of macroeconomic policy
cooperation, including greater cooperation in exchange rate
management and freedom to manage capital flows; additional
automatic balance-of-payments financing facilities and the
complementary use of swap and regional arrangements; a multilateral
sovereign debt workout mechanism; and major reforms of the system's
governance.
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