Global Financial Systems
An innovative textbook that explores the why behind global financial stability — insightful discussions on the international financial system and the contemporary issues of today.
“Nicely and clearly written for an undergraduate audience — the book has a fresh perspective that will differentiate it from pre-crisis texts.”
Professor Emeritus, London School of Economics
“Global Financial Systems: Stability and Risk looks to be an important book — it will appeal to those interested in regulation as well as those more on the regulatory side.”
William Brough Professor of Economics, Williams College · Chair, Center for Development Economics
About the book
This book is suitable for both undergraduate and masters students, and has been used successfully in a masters course at the London School of Economics, FM 447, Global Financial Systems.
It uses economic theory, finance, mathematical modelling, risk theory, and policy to posit a comprehensive, coherent and current economic analysis of the inherent instabilities of the financial system, and the design of optimal policy response.
The book contains an up-to-date and thorough analysis of the 2007/08 financial crisis, the subsequent changes in financial regulations and government policy. It concludes with analysis of the ongoing European sovereign debt crisis.