Modern Financial Systems: Theory and Applications
A valuable guide to the essential elements of modern financial systems
This book offers you a unified theory of modern financial system activity. In it, author Edwin Neave distills a large body of literature on financial systems, the institutions that comprise the systems, and the economic impacts of the systems' operation. Through non-technical summaries, Neave provides you with a primer on how financial systems work, as well as how the many parts of any financial system relate to each other. He does so in a straightforward manner, with an emphasis on economic principles and the relationship between various aspects of financial system activity.
- Discusses financial governance and explains how financial markets and institutions complement each other
- Identifies the economic forces at work within financial systems and explores how they determine system organization and change
- Offers a theoretical survey of financial activity and its application to numerous practical situations
- Explains both static financial system organization and the dynamics of financial system evolution
Following a non-technical approach, this book skillfully explores how financial systems work, as well as how the many parts of any financial system relate to each other.
Part One: Theoretical Overview.
Chapter 1. Introduction.
Chapter 2. Financial System Functions.
Chapter 3. Financial System Governance.
Chapter 4. Financial System Organization and Change.
Part Two: Market Versus NonMarket Governance.
Chapter 5. Market Governance.
Chapter 6. Intermediation and Internal Governance.
Chapter 7. Terms Of Deals.
Part Three: Asset Prices And Market Relations.
Chapter 8. Pricing Stocks and Bonds.
Chapter 9. Pricing Derivatives By Arbitrage.
Chapter 10. Markets With Impediments To Arbitrage.
Part Four: Applications: Market Activity.
Chapter 11. Securities, Bond And Mortgage Markets.
Chapter 12. Markets For Trading Risks.
Chapter 13. Exchange Rates and Markets.
Part Five: Applications: Pooled Investments.
Chapter 14. Marketable Securities Portfolios.
Chapter 15. Nonmarketable Securities Portfolios.
Part Six: Applications: Intermediation.
Chapter 16. Principles of Intermediation.
Chapter 17. Management Practice: Domestic Institutions.
Chapter 18. International Banking and Banking Markets.
Part Seven: Industry Organization And Regulation.
Chapter 19. Banking Market Structure: Models and Empirical Research.
Chapter 20. Bank Runs And Systemic Risk.
Chapter 21. Financial Activity And Capital Formation.
Chapter 22. Financial Regulation.