International Finance (international + finance)

Distribution by Scientific Domains


Selected Abstracts


Sand in the Wheels, or Oiling the Wheels, of International Finance?

BRITISH JOURNAL OF POLITICS & INTERNATIONAL RELATIONS, Issue 2 2002
New Labour's Appeal to a, new Bretton Woods'
First page of article [source]


Corporate Governance in Germany and the German Corporate Governance Code

CORPORATE GOVERNANCE, Issue 3 2005
Gerhard Cromme
The term "corporate governance", and all that it implies, is now in everyday use in Germany. This is due to the enormous changes Germany has experienced in recent years, in international business, international finance and in German industrial structures. This contribution deals with recent changes in the German system of corporate governance. After a short historical review, the major elements of the international context that form the background for changes in Germany are discussed. This is followed by an explanation of the German Corporate Governance Code and its role, concluding with a prospectus for further possible developments and a summary of key points. [source]


Global electrification: multinational enterprise and international finance in the history of light and power, 1878,2007 , Edited by William J. Hausman, Peter Hertner, and Mira Wilkins

ECONOMIC HISTORY REVIEW, Issue 2 2009
MARTIN CHICK
No abstract is available for this article. [source]


Tailored for Panama: Offshore Banking at the Crossroads of the Americas

GEOGRAFISKA ANNALER SERIES B: HUMAN GEOGRAPHY, Issue 1 2002
Barney Warf
With the steady integration of a deregulated world of hypermobile capital, offshore banking has become an increasingly significant part of the geography of international finance. Many interpretations tend to treat offshore banking centres as identical sites of investment that can be easily substituted for one another by completely mobile, fungible capital. This paper explores the nature of offshore banking in one largely overlooked centre, Panama. It charts the historic context that led to the creation of Latin America's most important centre of international banking, emphasizing the unique qualities that stand in contrast to hyperglobalist interpretations, including the Canal and the role of the US dollar. Second, it summarizes the regulatory changes initiated in the face of global neoliberalism, including the absence of a central bank and recent reforms designed to attract foreign capital. Using primary and secondary data, the paper maps Panama's growing role as a net capital exporter, charting domestic and foreign loan markets. Finally, it also addresses the trade,offs between confidentiality, and transparency in the context of illicit activities frequently alleged to occur in offshore banking centres, which in Panama revolve around drug trafficking and money laundering. It concludes by noting that even in an ostensibly seamless world, offshore banking exhibits the place,based embeddedness of financial capital within local institutional relations. [source]


TESTING LONG-HORIZON PREDICTIVE ABILITY WITH HIGH PERSISTENCE, AND THE MEESE,ROGOFF PUZZLE*

INTERNATIONAL ECONOMIC REVIEW, Issue 1 2005
Barbara Rossi
A well-known puzzle in international finance is that a random walk predicts exchange rates better than economic models. I offer a potential explanation. When exchange rates and fundamentals are highly persistent, long-horizon forecasts of economic models are biased by the estimation error. When this bias is big, a random walk will forecast better, even if the economic model is true. I propose a test for equal predictability in the presence of high persistence. It shows that the poor forecasting ability of economic models does not imply that the models are not good descriptions of the data. [source]


Announcement effects on exchange rates

INTERNATIONAL JOURNAL OF FINANCE & ECONOMICS, Issue 1 2009
Mikael Bask
Abstract An asset pricing model for exchange rate determination is presented, where technical analysis in currency trade is incorporated in the form of a moving average technique. As a result, the model has jmax+1 rational expectations equilibria (REE), where jmax is large, since jmax past exchange rates affect the current rate due to technical analysis. There is, however, a unique REE that is economically relevant, and focusing on this REE, it is shown that the exchange rate is much more sensitive to a change in money supply than when technical analysis is absent in currency trade. This result is important since it sheds light on the so-called exchange rate disconnect puzzle in international finance. Copyright 2008 John Wiley & Sons, Ltd. [source]


PURCHASING POWER PARITY IN LESS-DEVELOPED AND TRANSITION ECONOMIES: A REVIEW PAPER

JOURNAL OF ECONOMIC SURVEYS, Issue 4 2009
Mohsen Bahmani-Oskooee
Abstract The concept of purchasing power parity (PPP) has been the subject of numerous studies, many of which have been unable to prove conclusively this core principle of international finance. Although industrialized countries have received most of the attention, studies that focus on less-developed and transition economies have also attained mixed results. This study surveys trends in this branch of the literature, highlighting the econometric advances that have sought to solve this puzzle, while pointing out that more needs to be done to address the reasons that might cause PPP not to hold. [source]


Pawns of international finance and politics: Florentine sculptors at the court of Henry VIII

RENAISSANCE STUDIES, Issue 1 2006
Cinzia Maria Sicca
The aim of this paper is to place the projected tomb of Henry VIII and Catherine of Aragon within a wider context of events that are specifically of a political and economic nature. The artists are at once pawns in the hands of diplomats and financiers motivated by their inner rationale, as well as actors in their own right, discovering in a somewhat tentative way that, though not entirely free from the system of patronage of either institutions or princely families, they could jostle for position on the international stage, relying almost entirely on their own enterprising skills. The episode of the tomb, far from being a footnote in the history of the competition between Michelangelo and Bandinelli, offers an unusual insight into the workings of Medici patronage at a very delicate time in the history of both Leo X and Cardinal Giulio de' Medici. The favour accorded to Baccio Bandinelli precluded, during Leo's lifetime, the possibility that any other sculptor would be offered even a chance of being a candidate for this commission. The death of the pontiff left the Cardinal not only in a political quandary but also in dire financial straits. Yet the support and loyalty of the English monarch were crucial to Giulio de' Medici's success in his own endeavours to ascend the papal throne and, perhaps more importantly, to preserve Medici control over Florence. The trusted members of the Medici entourage representing both Florence and the family's interests at the court of Henry VIII, prevented the tomb project from dying altogether. The involvement of Giovanni Cavalcanti and his business partners Pierfrancesco de' Bardi and Zanobi Girolami, as well as that of Giovanni Gaddi, was financial since each partner bought stakes in the models prepared by a number of artists, but at the same time aesthetic judgement had to be exercised by one if not all the investors in selecting the authors of the models sent to London in 1521,1523. This opened the way for sculptors who had previously suffered from Bandinelli's overbearing dominance: namely Baccio da Montelupo, and Jacopo Sansovino. [source]


,Casino capitalism' and the financial crisis

ANTHROPOLOGY TODAY, Issue 4 2009
Rebecca Cassidy
I argue that by describing the current financial crisis as the result of ,casino capitalism' commentators are reinforcing familiar and baseless assumptions about exchange and deflecting serious criticism from the true causes of the problem and how we might respond to them. I refer to recent ethnography by anthropologists working in international finance and to three features of casinos: customers, markets and regulation, in order to support the argument that neither individual casinos, nor the industry in general are good exemplars of ,casino capitalism'. [source]