LEADER 04198nam 22007212 450 001 9910826236003321 005 20151005020623.0 010 $a1-107-14250-4 010 $a1-280-45820-8 010 $a0-511-18537-5 010 $a0-511-18454-9 010 $a0-511-18713-0 010 $a0-511-31335-7 010 $a0-511-61652-X 010 $a0-511-18620-7 035 $a(CKB)1000000000354108 035 $a(EBL)256636 035 $a(OCoLC)489550398 035 $a(SSID)ssj0000163195 035 $a(PQKBManifestationID)11154938 035 $a(PQKBTitleCode)TC0000163195 035 $a(PQKBWorkID)10105175 035 $a(PQKB)10544438 035 $a(UkCbUP)CR9780511616525 035 $a(Au-PeEL)EBL256636 035 $a(CaPaEBR)ebr10126078 035 $a(CaONFJC)MIL45820 035 $a(OCoLC)70001923 035 $a(MiAaPQ)EBC256636 035 $a(EXLCZ)991000000000354108 100 $a20141103d2004|||| uy| 0 101 0 $aeng 135 $aur||||||||||| 181 $ctxt$2rdacontent 182 $cc$2rdamedia 183 $acr$2rdacarrier 200 10$aGlobal capital markets $eintegration, crisis, and growth /$fMaurice Obstfeld, Alan M. Taylor$b[electronic resource] 210 1$aCambridge :$cCambridge University Press,$d2004. 215 $a1 online resource (xviii, 354 pages) $cdigital, PDF file(s) 225 1 $aJapan-U.S. Center UFJ Bank monographs on international financial markets 300 $aTitle from publisher's bibliographic system (viewed on 05 Oct 2015). 311 $a0-521-67179-5 311 $a0-521-63317-6 320 $aIncludes bibliographical references (p. 315-348) and index. 327 $aCover; Half-title; Series-title; Title; Copyright; Dedication; Contents; List of Tables; List of Figures; Acknowledgments; Part one Preamble; 1 Global Capital Markets: Overview and Origins; Part two Global Capital in Modern Historical Perspective; 2 Globalization in Capital Markets: Quantity Evidence; 3 Globalization in Capital Markets: Price Evidence; Part three The Political Economy of Capital Mobility; 4 Globalization in Capital Markets: A Long-Run Narrative; 5 Monetary Policy Interdependence and Exchange-Rate Regimes: Is the Trilemma Borne out by History? 327 $a6 The Changing Nature of Government Credibility: A Tale of Two Gold StandardsPart four Lessons for Today; 7 Uneven Integration; 8 Uneven Rewards and Risks; Data Appendix; Saving, investment and the current account; Exchange-risk-free nominal interest parity; Purchasing power parity; Sovereign risk, credibility, and the gold standard; Bibliography; Index 330 $aThis book presents an economic survey of international capital mobility from the late nineteenth century to the present. The authors examine the theory and empirical evidence surrounding the fall and rise of integration in the world market. A discussion of institutional developments focuses on capital controls and the pursuit of macroeconomic policy objectives in shifting monetary regimes. The Great Depression emerges as the key turning point in recent history of international capital markets, and offers important insights for contemporary policy debates. Its principal legacy is that the return to a world of global capital is marked by great unevenness in outcomes regarding both risks and rewards of capital market integration. More than in the past, foreign investment flows largely from rich countries to other rich countries. Yet most financial crises afflict developing countries, with costs for everyone. 410 0$aJapan-U.S. Center UFJ Bank monographs on international financial markets. 606 $aInternational finance$xHistory 606 $aCapital market$xHistory 606 $aInternational economic relations$xHistory 615 0$aInternational finance$xHistory. 615 0$aCapital market$xHistory. 615 0$aInternational economic relations$xHistory. 676 $a332/.042 700 $aObstfeld$b Maurice$0118388 702 $aTaylor$b Alan M.$f1964- 801 0$bUkCbUP 801 1$bUkCbUP 906 $aBOOK 912 $a9910826236003321 996 $aGlobal capital markets$91746916 997 $aUNINA