- International Monetary Fund (IMF) - An institution that was founded at the Bretton Woods conference in 1944 and lends money to countries facing large national deficits. The IMF also oversees the foreign exchange rate system and provides research and advisory services for member countries in the areas of monetary economics and international finance. The IMF is located in Washington, D.C.
- International Bank for Reconstruction and Development (IBRD) "World Bank" — Founded in 1944, this institution is responsible for lending money to developing countries. It was originally intended to finance both reconstruction from World War II and development projects in developing countries. The "World Bank" also conducts research and provides advice on the topic of development economics. The World Bank is also located in Washington, D.C.
International finance encompasses the study of international monetary economics, which involve the interaction of international transactions. These transactions consist of factors, such as national income, money and prices. 4
The international monetary system is made up of institutions, international organizations, governments, and private economic entities that all participate in the exchange of financial assets worldwide.
Balance of payments accounting is an important component to examining international finance and international financial flows. The balance of payment accounts is the accounting system for all international commercial and financial transactions of an individual country. The balance of payments is divided into three separate accounts, the current account, capital account, and the financial account. A description of each balance of payment account is provided below.5
- Current Account - A record of transactions in goods, services, investments income, and unilateral transfers between residents of a country and the rest of the world. It tracks the flow of goods and services into and out of the country.
- Capital Account - A record of transactions in highly specialized financial assets and liabilities between the residents of a nation and the rest of the world. The capital account records the flow of financial capital and other assets.
- Financial Account - Part of the balance of payments that tracks capital flows between a national economy and the rest of the world.
This section includes a number of resources on the international monetary system. The sources listed in this section provide access to information in areas such as, international finance theory and policy, scholarly resources covering international finance, as well as the actors and components of the international financial system. Other sources include online reference resources on international finance, and publications from international organizations and institutions involved in, as well as examining the area of international finance.
Eun, Cheol S. and Resnick, Bruce G. International Financial Management. 3rd ed. Boston: McGraw-Hill/Irwin, 2007. 536 p.
LC Call Number: HG3881 .E655 2004
LC Catalog Record: 2003042139
Table of Contents
Publisher's Description
International Financial Management combines the fundamental concepts of international finance with solid practical applications. This combination has made it the book of choice at a variety of institutions, including top business schools such as Wharton, Stanford, Northwestern, and INSEAD. Synopsis by Books In Print.
Gandolfo, Giancarlo. International Finance and Open-Economy Marcoeconomics. Berlin; New York: Springer, c2002. 613 p.
LC Call Number: HG230.3 .G36 2002
LC Catalog Record: 2002514053
Deals with the financial side of international economics and covers all aspects of international finance.
International Finance, edited by Robert Z. Aliber. Cheltenham, UK; North Hampton, MA: Edward Elgar,
c2000. 2 volumes.
LC Call Number: HG3881 .I6025 2000
LC Catalog Record: 00049500
This two volume set offers a collection of papers from scholars in the field of international finance. The topics covered include the competitiveness of national currencies, the balance of trade and the balance of payments. Annotation by Books In Print.
International Finance and Monetary Policy, edited by Gleb P. Severov. New York: Nova Science Publishers, c2006.
LC Call Number: HG3881.I576273 2006 (Not available at LC as of March 2007)
LC Catalog Record: 2006008674
Table of Contents
Publisher's Description: International finance is the branch of economics that studies the dynamics of exchange rates, foreign investment, and how these affect international trade. In a globalizing world, the policies of various central banks and similar institutions impact large and small players alike. This new book presents new and important research on issues of interest in international finance and monetary policy.
Pilbeam, Keith. International Finance. 3rd ed.
Houndsmill, Basingstoke, UK; New York: Palgrave MacMillan, 2005. 512 p.
LC Call Number: HG3881.P4845 2006
LC Catalog Record: 2005051546
Table of Contents
This work covers the major traditional and modern theories and empirical and applied topics in the field of international finance. It is an evaluation of empirical evidence of theories with extensive treatment of the most recent literature. The third edition of this internationally renowned and respected text is an ideal introduction to the subject of international finance. Theory is clearly explained and constantly related to the the realities of the modern world economy. The book discusses the theories and differing policies of the balance of payments, exchange rates and the international monetary system. Annotation by Books In Print.
Baker, James Calvin. Financing International Trade. Westport, CT: Praeger, 2003. 199 p.
LC Call Number: HG3881 .B2533 2003
LC Catalog Record: 2003058002
This book examines the U.S. international trade finance system, including the banks that finance trade; the U.S. Export-Import Bank, which guarantees and insures those trade credits; the Foreign Credit Insurance Association, which insures trade credits; the Public Export Funding Corporation, which makes loans to foreign buyers of U.S. exports; and the federal, state, and local agencies and private institutions that facilitate U.S. trade. Major foreign export credit agencies are discussed and compared with the American system, which is the most comprehensive in the world in its facilitation of financing U.S. export trade. Presents an in-depth examination of the U.S. international trade finance system. Annotation by Books In Print.
Bøås, Morten and McNeill, Desmond. Multilateral Institutions:
A Critical Introduction. London; Sterling, VA: Pluto Press, 2003. 184
p.
LC Call Number: HG3881 .B556 2003
LC Catalog Record: 2002015929
This book offers students, practitioners and activists a critical introduction to the major institutions that make up the multilateral development system. The mandate of multilateral institutions defines them as technical & functional institutions. This text challenges that view, arguing that they are political organizations & that their programmes have a significant impact on the domestic policies of the many countries in which they are involved. Annotation by Books In Print.
Global Institutions and Development: Framing the World? edited
by Morten Bøås and Desmond McNeill. London; New York: Routledge, 2004. 253
p.
LC Call Number: HG3881 .G57554 2004
LC Catalog Record: 2003008630
Table of Contents
Publisher's Description
This unique book explores a very broad range of ideas and institutions and provides thorough and detailed case studies in the context of broader theoretical analysis. Key topics such as poverty, global governance, sustainable development and the environment are closely examined, with detailed case studies of the World Bank, the WTO, the IMF, Asian Development Bank, UN Development Programme and the OECD's Development Assistance Committee. From Publisher's Description
Porter, Tony. Globalization and Finance. Cambridge; Malden, MA: Polity, 2005. 230 p.
LC Call Number: HG3881 .P597 2005
LC Catalog Record: 2005297114
Table of Contents
The author guides students through current debates about global finance and discusses the extent to which the development of a global marketplace affects our daily lives. He examines the complex networks of public-sector and non-governmental institutions and practices that facilitate the globalization of finance and provide an emerging set of arrangements for regulating it. Synopsis by Books In Print.
Barth, James R. Comparative International Characteristics of Banking. Washington, D.C.: Office of the Comptroller of the Currency, 2004. 78 p. E&PA Working Paper 2004-1, January 2004.
Online Edition [PDF Format: 2.5 MB / 78 p.]
LC Call Number: Electronic Resource
LC Catalog Record: 2004620320
This paper compares key characteristics of banking systems across countries. A basic premise underlying our review is that the increasing globalization of banking and finance mandate a broad, cross-country perspective on banking issues. Indeed, cross-country comparisons can add insight into basic issues in banking that may not emerge, or are only partially discernible, from single-country analyses. With this in mind, we review representative research dealing with four fundamental aspects of international banking: the structure of banking, with emphasis on the connection between the development of the banking system and economic growth; banking industry performance; banking regulation, supervision, and corporate governance; and banking crises. We augment each of these discussions with an examination of the cross-country "landscape" of key dimensions of banking, using data for over 50 countries. Summary from the Office of the Comptroller of the Currency web site.
Claessens, Stijn. Competitive Implications of Cross-Border Banking. Washington, D.C.: World Bank,
2006. 25 p.
Online Edition [PDF Format: 302 KB / 25 p.]
LC Call Number: Electronic Resource
LC Catalog Record: 2006615441
This paper reviews the recent literature on cross-border banking, with a focus on policy implications. Cross-border banking has increased sharply in recent decades, particularly in the form of entry, and has affected the development of financial systems, access to financial services, and stability. Reviewing the empirical literature, the author finds much, although not uniform, evidence that cross-border banking supports the development of an efficient and stable financial system that offers a wide access to quality financial services at low cost. But as better financial systems have more cross-border banking, the relationship between cross-border banking and competitiveness has to be carefully judged. While developing countries have some special conditions, provided a minimum degree of oversight is in place, they experience effects similar to industrial countries. There are some questions, though, on the effects of cross-border banking on lending based on softer information and on stability. Relevant experiences from capital markets show that the degree of cross-border financial activities can affect local market sustainability and there can be path dependency when opening up to cross-border competition. Reviewing the fast changing landscape of financial services provision, the author argues that cross-border banking highlights the increased importance of competition policy in financial services provision. This competition policy cannot be traditional, institutional based, but will need to resemble that used in other network industries. Furthermore, with globalization accelerating, competition policy will need to be global, supported by greater cross-border institutional collaboration and using the General Agreement on Trade in Services (GATS) process and the disciplines of the World Trade Organization. GATS can be of special value to developing countries as it provides a binding, pro-competition framework that has proven more difficult to establish otherwise. Summary from the World Bank web site.
International Banking and Financial Systems: Evolution and Stability, edited by Luigi de Rosa. Aldershot, Hants, UK; Burlington, VT: Ashgate, c2003. 267 p.
LC Call Number: HG3881 .I575127 2003
LC Catalog Record: 2002074438
Table of Contents
This study explores the banking market, the prevailing models of banking and the impact of modern banking practices on economies, wars and social organizations. Annotation by Books In Print
O'Connor, Aidan. Trade, Investment and Competition in International Banking. Basingstoke, UK; New York: Palgrave Macmillan, 2005. 193 p.
LC Call Number: HG3881 .O268 2005
LC Catalog Record: 2005047293
Table of Contents
Publisher's Description
Publisher-supplied Biographical Information
This book outlines the various influences on the evolution of international banking and analyzes the industry, distinguishing between international trade in banking services and foreign direct investment by banks.
Smith, Roy C. Global Banking. 2nd ed. Oxford; New York: Oxford University Press, 2003. 438 p.
LC Call Number: HG3881 .S5434 2002
LC Catalog Record: 2002003692
Table of Contents
Publisher's Description
This is a revision of the business of global banking. With the increased globalization of the world economy few sectors are the equal of banking and financial services in dynamism or structural change. Roy C. Smith and Ingo Walter assess this transformation-its causes, its course and its consequences. Annotation by Books In Print
Gregoriou, Greg N. Asset Allocation and International Investments. New York: Palgrave Macmillan,
2006. 320 p.
LC Call Number: HG4529.5 .A83 2006 (Not yet available at LC as of March 2007)
LC Catalog Record: 2006045369
Table of Contents
Publisher's Description
Publisher-supplied Biographical Information
This volume consists of a collection of edited papers from respected academics worldwide on the latest developments in asset allocation, portfolio management and international investments, including original scientific articles that will help the investor to identify new trends. These expert studies can effectively improve the risk and return characteristics of anyone's investment portfolio. Annotation by Books in Print
Hyman, Michael H. The Power of Global Capital: New International Rules--New Global Risks. Melbourne, Vic., Australia; Mason, OH: Thompson South-Western, c2004. 240 p.
LC Call Number: : HG4538 .H96 2004
LC Catalog Record: 2004299060
Table of Contents
This innovative book provides a way to stay informed and learn the economic indicators that affect global capital as well as the new financial rules carved out by the market. Synopsis by Books In Print.
Moosa, Imad A. Foreign Direct Investment: Theory, Evidence, and Practice. Houndsmill, Basingstoke, UK; New York: Palgrave, 2002. 311 p.
LC Call Number: HG4538 .M5954 2002
LC Catalog Record: 2001058775
Table of Contents
Publisher's Description
Publisher-supplied Biographical Information
In Foreign Direct Investment, Imad A. Moosa presents a survey of the vast body of literature and ideas relating to foreign direct investment that will be invaluable as a reference work for all these groups. He provides concise definition and analysis of the theories behind foreign direct investment, and considers factors affecting its implementation. The impact of foreign direct investment on economic development, host countries and the growth of multinationals, together with methods for evaluating foreign direct investment projects are discussed. Synopsis by Books in Print.
Sobel, Andrew Carl. State Institutions, Private Incentives, Global Capital. Ann Arbor: University of Michigan Press, 2002. 287 p.
LC Call Number: HG3891 .S67 2002
LC Catalog Record: 2002284104
Publisher's Description
Sobel explores the reawakening of the international financial markets, mapping their extraordinary transformation since the early 1960s and discussing the role of politics in that metamorphosis. The author then offers a fresh understanding of the systematic differences in access for borrowers in this rapidly transforming and expanding global capital pool. Annotation by Books In Print.
Zimmerman, Heinz. Global Asset Allocation: New Methods and Applications. New York: J. Wiley & Sons, c2003. 320 p.
LC Call Number: HG4529.5. Z56 2003
LC Catalog Record: 2002009972
Table of Contents
Publisher's Description
Publisher-supplied Biographical Information
Reveals new methodologies for asset pricing within a global asset allocation framework. Contains cutting-edge empirical research on global markets and sectors of the global economy. Introduces the Black-Litterman model and how it can be used to improve global asset allocation decisions. Annotation by Books In Print.
Global Financial Data, Inc.
http://www.globalfinancialdata.com/
Provides long-term financial and economic data, covering over 150
countries. Subscribers have access to over 6,500 historical and current data
series. According to the publisher's web site, the database includes
historical data on: U.S. Stock markets from 1800; Exchange rates from 1590;
Interest rates
from
1700;
Commodities
from 1500; Inflation from 1264; Total returns from 1700; and foreign stock
markets from 1690.
Global Financial System. (Wikipedia).
http://en.wikipedia.org/wiki/International_financial_institution
This site includes a general overview of the global financial system, a brief
history of the world financial system, information on the institutions and participants
making up the global financial system, also provides links to major events and further
discussions related to the topic.
Institute of International Finance, Inc.
http://www.iif.com/
An organization comprised of global financial institutions and corporations that
produces research and publications on emerging markets, international financial regulation,
and international policy issues. Provides access to a number of publications and
reports.
International Finance, Congressional Research Reports, NLE.
http://www.cnie.org/NLE/CRS/Detail.cfm?Category=International%20Finance
A set of records consisting of Congressional Research Service reports
on international finance. The web site is also contains CRS reports and other
international
and economic issues.
International Finance Corporation (IFC).
http://www.ifc.org/
IFC's web site provides information and economic and financial studies
on the different regions, reports on various sectors and sub-sectors, and environment & social
development reports. Other resources include news, and links to IFC research &
publications.
International Finance Discussion Papers, Federal Reserve Board.
http://www.federalreserve.gov/pubs/ifdp/
Working Papers from the International Finance Discussion Papers Series intended
to stimulate discussion and critical comment. The site has full-text reports dating back to
1996.
International Finance, Economics Working Papers Archive WUSTL.
http://ideas.repec.org/s/wpa/wuwpif.html
An online archive of reports on international finance topics. Archives dates
back to 1994.
International Finance and Macroeconomic Program. (NBER).
http://www.nber.org/programs/ifm/ifm.html
This NBER web page provides links to papers on International Finance
and Macroeconomics. The Webster's archive has papers dating back to 1976.
International Finance Theory and Policy Analysis.
http://internationalecon.com/Finance/financehome.php
A comprehensive publication published by Professor Steven Suranovic that examines
the principals and concepts of international finance. The site also allows the downloading of
each chapter in PDF format.
International Project Finance Association. (IPFA).
http://www.ipfa.org
Association promotes and represents interests of private sector companies
involved in project finance and private partnerships worldwide. IPFA's web site
provides links to documents and reports, latest news, and upcoming IPFA events.
International Organization of Securities Commissions. (IOSCO).
http://www.iosco.org/
IOSCO's web site has an online IOSCO Library which includes a collection
of public documents, publications, reports, and press releases. Other resources
on the web site consist
of the Joint Forum, a cooperative cross-sector forum comprised of the IOSCO,
the Bank for International Settlements, and the International Association of
Insurance Supervisors.
A list of publicly released report of the Joint Forum can be found in the Library
Section of the IOSCO or the Joint Forum library section. There are also links
to other international
financial institutions and organizations.
Institute of International Bankers.
http://www.iib.org/
This web site provides links to publications, such as the Institute's
Annual Global Survey, which covers 38 countries and the EU intended to contribute
to the
understanding of the trends toward globalization of financial markets and regulatory
systems worldwide; the Focus and News, describes the latest legislative and
regulatory and tax developments; a link to Legislative & Regulatory issues
covers various related topics; and a link to Comment Letters and Speeches.
The archive for the Institute's
publications and reports dates back to 1998.
Institute of International Finance.
http://www.ifc.org/
IFC's web site contains a wealth of information, with links to many
resources which include: Regional and sector data and reports; News; as well
as Research & Publications.
Other resources consist of IPC papers and reports, infrastructure projects database,
Doing Business Database, and the Public Policy Journal.
International Finance/Macroeconomics, Institute for International Economics (IIE).
http://www.iie.com/research/researcharea.cfm?ResearchTopicID=4
A link to IIE's Research Areas web page, which includes working papers,
policy briefs, and Op-eds on issues and subject matter related to international
finance.
International Monetary Fund Publications
http://www.imf.org/external/pubind.htm
The homepage for all IMF publications and reports. The web site has
links to IMF recent titles, periodicals, IMF Policy Papers, research programs,
Country and Economic
Reports, as well as the World Economic Outlook, and IMF's International Financial
Statistics Database.
Martindale's Reference Desk- International Business, Finance & Economics Center
http://www.martindalecenter.com/RefFinance.html
A resource for international business, finance and economic information,
containing databases, publications, laws & regulations, and teaching tools focusing on:
Banking; Business analysis, Finance and investment, particularly Import/Export; International
finance; Investment; International Trade; Business, finance and economic dictionaries; and
Online calculators for Business management, economics, and stocks & bonds.
RGE Monitor
http://www.rgemonitor.com/
A comprehensive and extensive site created by NYU economist Nouriel
Roubini, which covers a wide range of global economic and financial information
consisting of:
Suggested Readings; Current global economic & financial news; Exchange Rates;
Economic Reports; and Academic Papers. The web site also includes links to information
pertaining
to the International Financial System; Financial Sector Issues; Country Analysis;
Current Policy Topics; Global Macroeconomics; Emerging Markets; World Markets;
Geostrategic Risks;
Finance and Banking; Development Policy; as well as other data and research
resources.
Yahoo! Finance - Worldwide.
http://finance.yahoo.com/international
A portal to Yahoo!'s global financial web sites of countries through
out the world. The web sites provide financial news and articles, as well as
financial market data. The sites
are in many different languages.
Additional works on international finance in the Library of Congress may be identified by searching the Online Catalog under appropriate Library of Congress subject headings. Choose the topics you wish to search from the following list of Library of Congress subject headings to link directly to the Catalog and automatically execute a search for the subject selected. Please be aware that during periods of heavy use you may encounter delays in accessing the catalog. Please see the individual sections of this guide for catalog searches relating to those topics. For assistance in locating the many other subject headings which relate to this subject, please consult a reference librarian.
1. Krugman, Paul R., and Obstfeld, Maurice. International Economics: Theory and Policy. 5th ed. Boston: Addison Wesley, c2000, p. 538.
2. Dunn, R. Robert, Jr., and Mutti, John H. International Economics. 5th ed. London; New York: Routledge, c2000, p. 507.
3. Ibid, p. 580.
4. Appleyard, Dennis R., and Field, Alfred J. International
Economics. 3rd. Boston: Irwin/McGraw-Hill, c1998, p. 401.
5. Gerber, James. International Economics. 3nd ed. Boston: Addison-Wesley, c2005. Chapter 9.
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