International Finance

The international monetary system is characterized by vast numbers of daily transactions involving huge sums of money. In an increasingly globalized world economy, these trades can have enormous repercussions on economies and can occasionally cause currency, banking and financial crises. International Finance provides comprehensive coverage of the theory and practice of the balance of payments, exchange rate determination and the international money system. It includes both traditional and modern theories in the field and provides an extensive overview of the empirical evidence on the theories and concepts discussed. Key benefits of the fourth edition: * New chapter on the global banking crisis * Coverage of new financial instruments such as Collateralized Debt Obligations and Credit Default Swaps * Up to date coverage of the European sovereign debt crisis * Extensive case studies illustrating how theory applies to the real world of international finance * Improved pedagogical features and a comprehensive companion website International Finance is essential reading for undergraduate, postgraduate and MBA students of International Finance, International Economics and International Monetary Economics. Visit www.palgrave.com/business/pilbeam for additional student and lecturer resources. 'International Finance offers a comprehensive introduction to the subject - covering theory, policy and empirical situations. But the author also manages to succeed in adding that extra bit of understanding without ever becoming too technical.' - Franc Klaassen, Associate Professor of International Economics, University of Amsterdam, The Netherlands 'Both students and practitioners working through this book will gain an excellent grounding in the fundamental features of International Finance. I highly recommend this book to any reader interested in expanding their knowledge of this field.' - Professor Dennis Vink, Nyenrode Business University, The Netherlands 'This book offers a lucid treatment of international finance, from basic economic relationships through to advanced econometric issues. Its well-designed modules enable students to scale the vast terrain of international finance from the 1960s to the unfolding eurozone crisis.' - Demosthenes Tambakis, Fellow and Director of Studies in Economics and Finance at Pembroke College, University of Cambridge, UK 'Keith Pilbeam's new edition of an already excellent textbook in international finance now includes chapters on the eurozone crisis as well as on the financial innovations that help us to understand the causes of the current financial crisis. This updated edition is highly recommended to students as well as practitioners with a general interest in international finance.' - Michael Bergman, Associate Professor of Economics, University of Copenhagen, Denmark