Financial Innovations and the Welfare of Nations : How Cross-Border Transfers of Financial Innovations Nurture Emerging Capital Markets

Lingua: inglese

Editore: Humana, 2001

0792373286 / 9780792373285

Da: AHA-BUCH GmbH, Einbeck, GermaniaAHA-BUCH GmbH

Venditore con 5 stelle

Venditore AbeBooks dal 14 agosto 2006

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nach der Bestellung gedruckt Neuware - Printed after ordering - The central question addressed in Financial Innovations and the Welfare of Nations is how the transfer of financial innovations from developed to developing economies can nurture the dynamics of emerging capital markets. National capital markets can be positioned along a continuum ranging from embryonic to mature and emerged markets according to a decreasing 'national cost of capital' criterion. In the introductory chapter Laurent Jacque argues that newly emerging countries are handicapped by a high cost of capital due to 'incomplete' and inefficient financial markets. As capital markets graduate to higher level of 'emergedness', their national firms avail themselves of a lower cost of capital that makes them more competitive in the global economy and spurs economic growth. Skillful transfer of financial innovations to emerging markets often encourages the deregulation of the country's financial services sector. This results into new conduits for a more efficient capital allocation process such as commercial paper, securitized consumer finance and other disintermediated modes of financing which out-compete traditional financial intermediaries (mostly commercial banks), reduce households' cost of living and conjointly fuel the dynamics of emerging markets. Our response to the central question of how the transfer of financial innovations can enhance the Wealth of Nations is to show that it reduces the cost of capital while not unduly increasing systemic risk. Part I examines the relationship between financial innovations and systemic risk of the international financial system.…

Codice articolo 9780792373285

Titolo
Financial Innovations and the Welfare of Nations : How Cross-Border Transfers of Financial Innovations Nurture Emerging Capital Markets
Autore
Laurent L. Jacque
Editore
Humana
Anno di pubblicazione
2001
Condizione
Neu
Rilegatura
Buch
Lingua
inglese
ISBN 10
0792373286
ISBN 13
9780792373285
Peso dell'articolo
740 grammi
Dimensioni
241x160x26 mm

AHA-BUCH GmbH

Einbeck, Germania

Venditore con 5 stelle

Venditore AbeBooks dal 14 agosto 2006

Tariffe di spedizione da Germania a U.S.A.

ArticoloDa 7 a 10 giorni lavorativiDa 5 a 7 giorni lavorativi
Primo articoloEUR 35,00EUR 45,00
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