Credit, Currency or Derivatives

Instruments of Global Financial Stability or Crisis?

Michael G. Papaioannou|Jay J. Choi

Emerald

This book can be opened with

Hardback

9781849506014

13 November 2009

$204.99

eBook (PDF)

9781849506021

13 November 2009

$200.99

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Description
Contents

This edited volume on "Credit, Currency, or Derivatives: Instruments of Global Financial Stability or Crisis" contains original papers that examine various issues concerning the role, the structure and functioning of credit, currency and derivatives instruments and markets as they relate to financial crises. We stress the importance of the inter-linkages of these instruments and markets in promoting or hindering financial stability or crises as well as government policies, on a local and global level. The papers in this volume highlight various aspects of credit and currency instruments and markets, along with their interactions, for the stability of domestic and international financial systems. Particular emphasis is given on the failures of regulatory systems and their implications for systemic financial crises. Also, the papers analyze the costs of financial crises and explore the institutional and economic arrangements that could ameliorate the adverse effects of financial crises in advanced and emerging-market countries.

List of Contributors. The US versus Asian financial crisis. The subprime market crisis, structured products in the securities credit markets, and hedge funds. Blame the bankers? An empirical study of cyclical credit quality. Regulatory use of credit ratings: how it impacts the behavior of market constituents. On regulating financial innovations. Important structural trends and developments in the foreign exchange and OTC derivative markets. Interaction between stock and exchange crises in emerging markets. Exchange rate changes and price dynamics in Poland: an empirical investigation. Russian Banking in Transition: Survey and Synthesis. Assessing sovereign bond portfolios: some risk measures. Currency Swaps and Australian Debt Management Practice. Evaluating the implicit guarantee to fannie mae and freddie mac using contingent claims. Effectiveness of Monetary Policy: Market Reactions and Volatility Interactions. Are microfinance institutions in developing countries a safe harbour against the contagion of global recession?. Trade credit during financial crises: Do negotiated agreements work?. From Wall Street to Main Street – A European perspective. Risk management lessons from madoff fraud. Returning agency back to finance: the critical role of politics and governance in financialization. International finance review. International Finance Review Volume 10. Copyright page.