This work provides a review of financial market integration as it affects industrialized economies. Each of its three sections cover: the role of historical-institutional developments; open economy macro-models for macro-theoretical principles; and macro-policy experiences in 15 OECD countries. By incorporating these three principal aspects of financial integration, the work describes the process of financial integration in the world economy and assesses the extent to which major theoretical policy prescriptions and predictions are supported by country experiences. In addition, the author provides a comprehensive and up-to-date bibliography of the relevant literature. This text should prove a valuable reference to academics and advanced undergraduate and postgraduate students taking courses in macroeconomics.
Sprache
Verlagsort
Verlagsgruppe
Zielgruppe
Für höhere Schule und Studium
Für Beruf und Forschung
Illustrationen
figures, tables, bibliography
Maße
Gewicht
ISBN-13
978-1-85628-559-9 (9781856285599)
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Schweitzer Klassifikation
Introduction: the analytical framework of the book. Part 1 The institutional framework and measurement of financial integration: official sector developments - The International Monetary Fund and intergovernmental monetary cooperation, 1946-1960; private sector developments - the internationalization of financial intermediation and integration, 1960-1992; financial integration in the world economy - meaning and measurement. Part 2 Macro-theoretical implications of financial integration: the effectiveness of macroeconomic policies in the open economy; open economy adjustments in a longer term framework; insulation of the domestic economy from random disturbances; asset market models and exchange rate adjustments. Part 3 Financial integration and monetary management: monetary management - theory and practice; financial integration in the OECD area; monetary management experiences in OECD countries.
