ABSTRACT

The fifth edition of Maurice D. Levi’s classic textbook has been updated to incorporate the massive changes in the world of international finance of the past few years. In particular, the emergence of new markets is given broad coverage – particularly the rise to financial prominence of China and India and other growth economies in Asia and elsewhere. Key features of the book include:

  • the impact of globalization and the greater connectedness of national economies and the world economy as a whole
  • probably the best introduction to exchange rates available and how they directly impact upon firms as well as governments
  • the continued massive impact of multinational corporations on the global financial scene as well as the opportunities presented by e-commerce.

The material is interlaced with a wealth of supplementary material including real world case studies, review questions, examples and objectives. The result is the most authoritative survey of international finance currently available.

Thoroughly updated and with a large amount of new information, this text will prove an indispensable guide to the inner workings of international finance to students of economics and business as well as professionals in the finance industry.

part |2 pages

Part I International financial markets and environment

chapter 1|30 pages

The world of international finance

part |2 pages

Section I The markets for foreign exchange

chapter 2|23 pages

An introduction to exchange rates

chapter 3|16 pages

Forward exchange

chapter 4|25 pages

Currency futures and options markets

part |2 pages

Section II The fundamental international parity conditions

chapter 5|12 pages

The purchasing-power parity principle

chapter 6|30 pages

Interest parity

part |2 pages

Section III The determination of exchange rates

chapter 7|21 pages

The balance of payments

chapter 8|21 pages

Supply-and-demand view of exchange rates

chapter 9|18 pages

Asset-based theories of exchange rates

part |2 pages

Section IV Fixed (pegged) and flexible exchange rates

part |2 pages

Section V Foreign exchange risk and exposure

chapter 13|25 pages

Managing foreign exchange exposure and risk

chapter 14|25 pages

Operating exposure

part |2 pages

Section VI Hedging and speculation

chapter 15|23 pages

Hedging risk and exposure

chapter 16|25 pages

Exchange-rate forecasting and speculation

part |2 pages

Section VII International investment and financing

chapter 17|15 pages

Cash management

chapter 18|24 pages

Portfolio investment

part |2 pages

Section VIII Institutional structure of international trade and finance

chapter 22|20 pages

Multinational banking