The need for continued analysis and evaluation of the international financial system is as pressing now as it was when this book was originally published. This volume provides an in-depth analysis of certain aspects of the international financial system. Specifically it addresses four of the most important financial and monetary issues of the present time: exchange rate, capital markets, international banking and external debt and international financial management.

chapter 1|10 pages


ByDominick Salvatore, Fatemi

part 1|80 pages

Foreign Exchange Issues

chapter 3|19 pages

Pricing Options on a Constrained Currency I ndex: Some Simulation Results

ByTom Berglund, Staffan Ringbom, Laura Vajanne

chapter 6|12 pages

Time-Varying Risk Premia and the Efficiency of the New Zealand Foreign Exchange Market

ByDimitri Margaritis, Phay Hoon Teo

part 2|98 pages

Capital Markets

chapter 8|13 pages

Optimal Leverage of a Dynamically Competitive Firm

ByDilip K. Ghosh

chapter 10|12 pages

International Co-movements of Capital Markets: Evidence from Two Scandinavian Stock Markets

ByTeppo Martikainen, Ilkka Virtanen, Paavo Yli-Olli

chapter 11|11 pages

Defeased Debt in International Capital Markets: Benefits and Problems

ByEmiel W. Owens, Ronald F. Singer

chapter 13|8 pages

The “Round-Tripping” Effect of Debt–Equity Swaps

ByM. T. Vaziri, Hossein Shalchi

chapter 14|22 pages

Emerging Capital Markets and Economic Development

ByEdgar Ortiz

part 3|49 pages

International Financial Management

chapter 15|13 pages

Conditional Heteroskedasticity in Stock Returns: International Evidence

ByAlbert Corhay, Alireza Tourani Rad

chapter 17|7 pages

Survival Analysis of Business Failures

ByRafael Solis

part 4|34 pages

International Banking and External Debt

chapter 22|10 pages

MIGA: A New Kid on the Block

ByJames C. Baker