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Financial Markets Liberalisation and the Role of Banks - Vittorio Conti

Financial Markets Liberalisation and the Role of Banks

By: Vittorio Conti (Editor), Rony Hamaui (Editor)

Hardcover Published: 26th February 1993
ISBN: 9780521419826
Number Of Pages: 400

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Following years of control and regulation, the past ten years have seen a massive trend towards the liberalisation of financial markets. This volume provides an analysis of this process and considers likely future developments. It is divided into three parts: the first covers the behaviour of households and firms; the second includes papers on stock, bond and currency markets; and the third part analyses the behaviour and performance of financial intermediaries, particularly banks. The topics examined range from the demand for personal and corporate credit and the allocation of savers' wealth, to innovations in securities and services traded in financial markets, and their regulation. The essays represent a blend of both theoretical and empirical work, the latter focusing in particular on Europe and the recent integration of financial markets on the continent. Discussions of the essays are provided by some of the world's leading financial economists.

Introduction Vittorio Conti
Households amd Firms
The evolution and allocation of financial wealth
Marketable and non-marketable assets in households' portfolios Claudio Giraldi
Credit, money and consumption: time series evidence for Italy
Discussion
Real and financial choice of industrial firms: the Italian case
Empirical determinants of corporate debt decisions: some evidence for Italy
Discussion
Financial Markets
The exchange rate market
Financial liberalisation and exchange rate volatility Vittorio
Capital mobility, vehicle currencies and exchange rate asymmetry Vittorio
Discussion
The equity market
Shifting gears: an economic evaluation of the reform of the Paris bourse
'Front running' and stock market liquidity
Auction markets, dealership markets and execution risk
Discussion
The bond market
The impact of a new futures contract on risk premia in the term structure: an APT analysis for government bonds
Banks
Issues in asset management
The role of banks as investors in securities: theoretical and empirical features in an international perspective
Loan sales and balance sheet assets
Discussion
The liability side
A comparative analysis of the liability structure in seven banking systems
Deposit insurance: implications from financial intermediation theory
Discussion
Table of Contents provided by Publisher. All Rights Reserved.

ISBN: 9780521419826
ISBN-10: 0521419824
Audience: Professional
Format: Hardcover
Language: English
Number Of Pages: 400
Published: 26th February 1993
Publisher: CAMBRIDGE UNIV PR
Country of Publication: GB
Dimensions (cm): 22.86 x 15.24  x 2.54
Weight (kg): 0.75

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