ch21 The Global Capital Market Performance and Policy Problems 克鲁格曼国际经济学第六版英文教学课件.pptVIP

下载本文档

0
0
约1.08万字
约 31页
2019-05-24 发布于江西
举报
版权申诉

ch21 The Global Capital Market Performance and Policy Problems 克鲁格曼国际经济学第六版英文教学课件.ppt

1、本文档共31页，可阅读全部内容。
2、原创力文档（book118）网站文档一经付费（服务费），不意味着购买了该文档的版权，仅供个人/单位学习、研究之用，不得用于商业用途，未经授权，严禁复制、发行、汇编、翻译或者网络传播等，侵权必究。
3、本站所有内容均由合作方或网友上传，本站不对文档的完整性、权威性及其观点立场正确性做任何保证或承诺！文档内容仅供研究参考，付费前请自行鉴别。如您付费，意味着您自己接受本站规则且自行承担风险，本站不退款、不进行额外附加服务；查看《如何避免下载的几个坑》。如果您已付费下载过本站文档，您可以点击这里二次下载。
4、如文档侵犯商业秘密、侵犯著作权、侵犯人身权等，请点击“版权申诉”（推荐），也可以打举报电话：400-050-0827(电话支持时间：9:00-18:30)。
5、该文档为VIP文档，如果想要下载，成为VIP会员后，下载免费。
6、成为VIP后，下载本文档将扣除1次下载权益。下载后，不支持退款、换文档。如有疑问请联系我们。
7、成为VIP后，您将拥有八大权益，权益包括：VIP文档下载权益、阅读免打扰、文档格式转换、高级专利检索、专属身份标志、高级客服、多端互通、版权登记。
8、VIP文档为合作方或网友上传，每下载1次，网站将根据用户上传文档的质量评分、类型等，对文档贡献者给予高额补贴、流量扶持。如果你也想贡献VIP文档。上传文档

Chapter Organization Introduction The International Capital Market and the Gains from Trade International Banking and the International Capital Market Regulating International Banking How Well Has the International Capital Market Performed? Summary Introduction International capital market The group of closed interconnected markets in which residents of different countries trade assets such as currencies, stocks and bonds This chapter focus on three main questions: How has the international capital market enhanced countries’ gains from trade? What caused the rapid growth in international financial activity that has occurred since the early 1960s? How can policymakers minimize problems raised by a worldwide capital market without sharply reducing the benefits it provides? The International Capital Market and the Gains From Trade Three Types of Gain From Trade All transactions between the residents of different countries fall into one of three categories: Trades of goods or services for goods or services Trades of goods or services for assets Trades of assets for assets The International Capital Market and the Gains From Trade The International Capital Market and the Gains From Trade Risk Aversion The risk associated with a trade of assets is shared when assets are traded internationally. When people are risk averse, countries can gain through the exchange of risky assets. International capital markets make these trades possible. The International Capital Market and the Gains From Trade Portfolio Diversification as a Motive for International Asset Trade International portfolio diversification can allow residents of all countries to reduce the variability of their wealth. International capital markets make this diversification possible. The International Capital Market and the Gains From Trade The Menu of International Assets: Debt Versus Equity International portfolio diversification can be carried out through the exchange of: Debt instruments Bonds and bank de