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Financial Structure and Stability : Contributions to Economics - Alexander Karmann

Financial Structure and Stability

Contributions to Economics

By: Alexander Karmann (Editor)

Paperback

Published: 26th October 2000
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The basic question of this book is what we can learn from empirical as well as theoretical analysis of financial systems, differing cross-sectional and changing structually over time, with respect to the issue of stability of financial systems. Part I of the book deals with stability issues in a globalizing financial world and addresses topics of convergence, domestic policy, financial bubbles, crises and international coordination. Part II is on banking systems. Country specific adoption and restructuring of (universal but also separation) banking systems are key problems for the industrialized economies, while catching-up is of major concern for the economies in transition. Feeble regional economies and subsidized banking is at the heart of the vivid dispute on public sector banking being taken up in Part III. The last Part is devoted to resource-oriented approaches in quantifiying financial development and risk of sovereign default.

Financial systems: What can we learn from the past? Introduction to the bookp. 1
Financial stability and globalizationp. 9
Evolution of financial systems: Convergence towards higher or lower stability?p. 11
Effects of globalization on national monetary policyp. 34
Discussion of Helmut Wagner's "Effects of globalization on national monetary policy"p. 53
Are we facing a stock market bubble?p. 57
Discussion of David I. Fand's "Are we facing a stock market bubble?"p. 79
What explains the Asian balance of payments crisis? A simple third-generation approachp. 83
Causes and consequences of the Asian economic crisisp. 104
Functions of economic policy in promoting the efficiency of the international financial systemp. 119
Discussion of Wolfgang Filc's "Functions of economic policy in promoting the efficiency of the international financial system"p. 132
Banking systems and restructuringp. 137
Universal banks - A reconsiderationp. 139
Efficiency of the banking system: The Italian casep. 148
Discussion of Gianandrea Goisis's "Efficiency of the banking system: The Italian case"p. 169
Institutional changes in economies in transition and stability of the banking systemp. 174
Discussion of Chuluunbaatar Enkhzaya's "Institutional changes in economies in transition and stability of the banking sector"p. 184
Central banking and financial stability in transition economiesp. 186
Public sector banksp. 201
The Saxon savings banks association: Saxony's response to the challenges posed by competition in the banking sectorp. 203
Process of change within the universal banking system in Europep. 212
Public sector banks - Importance and restructuring: Discussion of Georg Milbradt's "The Saxon savings banks association"p. 214
Quantitative explorations in financial systemsp. 219
Causal links between financial activity and economic growth: Evidence from two-wave model estimationsp. 221
Sovereign risk, reserves, and implicit default probabilities: An option based spread analysisp. 232
Notes on contributorsp. 245
Table of Contents provided by Blackwell. All Rights Reserved.

ISBN: 9783790813326
ISBN-10: 379081332X
Series: Contributions to Economics
Audience: General
Format: Paperback
Language: English
Number Of Pages: 250
Published: 26th October 2000
Publisher: Springer-Verlag Berlin and Heidelberg Gmbh & Co. Kg
Country of Publication: DE
Dimensions (cm): 23.39 x 15.6  x 1.4
Weight (kg): 0.37