This is 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. This title discusses financial governance and explains how financial markets and institutions complement each other. It identifies the economic forces at work within financial systems and explores how they determine system organization and change. It offers a theoretical survey of financial activity and its application to numerous practical situations. It 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
Pt. 1 Theoretical Overview
Ch. 1 Introduction
Ch. 2 Financial System Functions
Ch. 3 Financial System Governance
Ch. 4 Financial System Organization and Change
Pt. 2 Market versus Nonmarket Governance
Ch. 5 Market Governance
Ch. 6 Intermediation and Internal Governance
Ch. 7 Terms of Deals
Pt. 3 Asset Prices and Market Relations
Ch. 8 Pricing Stocks and Bonds
Ch. 9 Pricing Derivatives by Arbitrage
Ch. 10 Markets with Impe;diments to Arbitrage
Pt. 4 Applicatons: Market Activity
Ch. 11 Securities, Bond and Mortgage Markets
Ch. 12 Markets for Trading Risks
Ch. 13 Exchange Rates and Markets
Pt. 5 Applications: Peeled Investments
Ch. 14 Marketable Securities Portfolios
Ch. 15 Nonmarketable Securities Portfolios
Pt. 6 Applications: Intermediation
Ch. 16 Principles of Intermediation
Ch. 17 Management Practice: Domestic Institutions
Ch. 18 International Banking and Banking Markets
Pt. 7 Industry Organization and Regulation
Ch. 19 Banking Market Structure: Models and Empirical Research