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The Origins and Development of Financial Markets and Institutions

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Release : 2009-03-16
Genre : Business & Economics
Kind : eBook
Book Rating : 048/5 ( reviews)

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Book Synopsis The Origins and Development of Financial Markets and Institutions by : Jeremy Atack

Download or read book The Origins and Development of Financial Markets and Institutions written by Jeremy Atack. This book was released on 2009-03-16. Available in PDF, EPUB and Kindle. Book excerpt: Collectively, mankind has never had it so good despite periodic economic crises of which the current sub-prime crisis is merely the latest example. Much of this success is attributable to the increasing efficiency of the world's financial institutions as finance has proved to be one of the most important causal factors in economic performance. In a series of insightful essays, financial and economic historians examine how financial innovations from the seventeenth century to the present have continually challenged established institutional arrangements, forcing change and adaptation by governments, financial intermediaries, and financial markets. Where these have been successful, wealth creation and growth have followed. When they failed, growth slowed and sometimes economic decline has followed. These essays illustrate the difficulties of co-ordinating financial innovations in order to sustain their benefits for the wider economy, a theme that will be of interest to policy makers as well as economic historians.

A History of Banking in Antebellum America

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Release : 2000-02-13
Genre : Business & Economics
Kind : eBook
Book Rating : 993/5 ( reviews)

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Book Synopsis A History of Banking in Antebellum America by : Howard Bodenhorn

Download or read book A History of Banking in Antebellum America written by Howard Bodenhorn. This book was released on 2000-02-13. Available in PDF, EPUB and Kindle. Book excerpt: Professor Bodenhorn reveals how America was served by an efficient system of financial intermediaries by the mid-nineteenth century.

Capital Markets and Institutions

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Release : 1997-01-31
Genre : Business & Economics
Kind : eBook
Book Rating : 494/5 ( reviews)

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Book Synopsis Capital Markets and Institutions by : Linda Allen

Download or read book Capital Markets and Institutions written by Linda Allen. This book was released on 1997-01-31. Available in PDF, EPUB and Kindle. Book excerpt: Intended for Junior/Senior/MBA course in Financial Markets, Capital Markets and Institutions. Using an international focus, this text integrates the financial markets with the activities of financial intermediaries. This approach enables students to understand the role of financial intermediaries in the development of financial markets. Throughout the text, the emphasis is on "how things are done on the street." The origins, major participants, pricing and settlements and typical transactions for all financial markets are also included.

Birth of a Market

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Release : 2012-01-13
Genre : Business & Economics
Kind : eBook
Book Rating : 795/5 ( reviews)

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Book Synopsis Birth of a Market by : Kenneth D. Garbade

Download or read book Birth of a Market written by Kenneth D. Garbade. This book was released on 2012-01-13. Available in PDF, EPUB and Kindle. Book excerpt: The evolution of “a marvel of modern finance,” the market for U.S. Treasury securities, from 1917 to 1939. The market for U.S. Treasury securities is a marvel of modern finance. In 2009 the Treasury auctioned $8.2 trillion of new securities, ranging from 4-day bills to 30-year bonds, in 283 offerings on 171 different days. By contrast, in the decade before World War I, there was only about $1 billion of interest-bearing Treasury debt outstanding, spread out over just six issues. New offerings were rare, and the debt was narrowly held, most of it owned by national banks. In Birth of a Market, Kenneth Garbade traces the development of the Treasury market from a financial backwater in the years before World War I to a multibillion dollar market on the eve of World War II. Garbade focuses on Treasury debt management policies, describing the origins of several pillars of modern Treasury practice, including “regular and predictable” auction offerings and the integration of debt and cash management. He recounts the actions of Secretaries of the Treasury, from William McAdoo in the Wilson administration to Henry Morgenthau in the Roosevelt administration, and their responses to economic conditions. Garbade's account covers the Treasury market in the two decades before World War I, how the Treasury financed the Great War, how it managed the postwar refinancing and paydowns, and how it financed the chronic deficits of the Great Depression. He concludes with an examination of aspects of modern Treasury debt management that grew out of developments from 1917 to 1939.

The Evolution of Financial Institutions and Markets in Twentieth-century Europe

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Release : 1995
Genre : Business & Economics
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Book Rating : /5 ( reviews)

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Book Synopsis The Evolution of Financial Institutions and Markets in Twentieth-century Europe by : Youssef Cassis

Download or read book The Evolution of Financial Institutions and Markets in Twentieth-century Europe written by Youssef Cassis. This book was released on 1995. Available in PDF, EPUB and Kindle. Book excerpt: "The last decade has witnessed widespread deregulation in major international financial centres and an increased globalization of financial activities. This phenomenon, which raises the question of the relationship between finance and the real economy, has been widely discussed by financial analysts, but has not yet been placed in its historical perspective. This is one of the first books to address this important problem." "The editors and contributors take as their point of departure the current state of various financial institutions and the ways in which their distinctive features and contemporary tendencies developed. They go on to assess the relationship between the evolution of financial markets and institutions and overall economic development. A wide range of institutions and markets is covered, including central, commercial, savings and investment banks, stock markets and other capital markets. Although most of the chapters concentrate on institutions, several of them apply recent theories and empirical methods such as asset pricing theories, tests for market efficiency, event studies and market integration." "The chapters employ a variety of approaches, representative of the best current research practices in financial history, and deal with nine different countries. However, they converge on three interrelated questions: the stability, efficiency and discipline of the financial sector. Hence the book will appeal to economic historians as well as to economists and financial analysts."--BOOK JACKET.Title Summary field provided by Blackwell North America, Inc. All Rights Reserved

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