International Finance

Author: Pan Shujuan
Publisher:
Publish Date: 2006-05-01
Features: This textbook is compiled to meet the teaching needs of higher education institutions. It is divided into five parts, totaling fifteen chapters. Part I is the foundation of international finance, elaborating on external balance standards, including chapters 1 to 4. It narrates four external balance standards in historical logic: national income accounts and trade balance, balance of payments statement and balance of payments equilibrium, foreign exchange market and exchange rate equilibrium, and current account intertemporal analysis and intertemporal equilibrium. Part II is the invisible hand of external balance regulation: market mechanisms, explaining the automatic adjustment mechanism of external balance, i.e., the role of market forces in external balance, covering chapters 5 and 6. Part III is the tangible force of external balance regulation: policy intervention, elaborating on policy intervention in external balance regulation and the theoretical foundation of the necessity and effectiveness of such intervention, including chapters 7 to 9. Part IV is the institutional arrangements for external balance regulation: international monetary system, discussing international monetary systems, exchange rate regime choices, and some international financial institutions, comprising chapters 10 to 12. Part V is severe of external balance: major events and principles, covering international capital flows, events of severe external balance, and currency crisis theory, from chapters 13 to 15.