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Regulating International Financial Markets: Issues and Policies

  • Franklin R. Edwards
  • Hugh T. Patrick

Table of contents

  1. Front Matter
    Pages i-xxii
  2. Introduction

    1. Franklin R. Edwards, Hugh T. Patrick
      Pages 1-10
  3. The Evolving International Financial Environment

  4. Banking and Financial Intermediary Markets

  5. Securities Markets

    1. Front Matter
      Pages 121-121
    2. Philip McBride Johnson
      Pages 143-148
  6. Futures Markets

    1. Front Matter
      Pages 149-149
    2. Phillip A. Thorpe
      Pages 151-178
  7. International Clearance, Settlement, and Payment Procedures: The Role of Regulation

  8. Is There a Systemic Risk Problem in International Financial Markets?

  9. National Autonomy Versus International Cooperation

  10. Back Matter
    Pages 307-317

About this book

Introduction

Franklin R. Edwards Hugh T. Patrick As the 19908 unfold, we stand on the threshold of a new age of global financial markets. The seeminglyinevitable, market-driven dynamicofthe international integration of banking, securities, and futures markets is bringing about a profound transformation of financial flows and the efficiency and effectiveness of the domestic and international markets serving them. Propelled in the 1980s by a variety offorces-technological, economic, political, and (de)regulatory-the implications of international financial market integration are pervasive. This new era promises to raise a host of new public and business policy issues as well as opportunities. These include issues of financial market integrity, international competitiveness, and regulatory harmony. What will the rules of the game be? How will prudential concerns for the safety as well as the efficiency of international financial markets, and their national counterparts, be met? What are the appropriate new institutional arrangements? How and to what degree will international financial mar­ kets be supervised, harmonized, and regulated, and for what purposes? Whowill be makingthese decisions andimplementingthem?Thesearethe issues that confront-and bedevil-policymakers, practitioners, and scho­ lars alike. 1 2 INTRODUcnON The Context The 1980s were witness to major transformations of the international political, economic, andfinancial environment. Amongthe majordevelop­ ments was rapidly increasing international financial market integration across major nations and across financial product markets. The major sources of financial change were several, interrelated, and reinforcing.

Keywords

Banking Financial Market Financial Markets Futures Futures markets International Financial Market International Financial Markets Trading Trading Systems

Editors and affiliations

  • Franklin R. Edwards
    • 1
  • Hugh T. Patrick
    • 2
  1. 1.Center for the Study of Futures Markets, Graduate School of BusinessColumbia UniversityNew YorkUSA
  2. 2.Center on Japanese Economy and Business, Graduate School of BusinessColumbia UniversityNew YorkUSA

Bibliographic information

  • DOI https://doi.org/10.1007/978-94-011-3880-2
  • Copyright Information Springer Science+Business Media New York 1992
  • Publisher Name Springer, Dordrecht
  • eBook Packages Springer Book Archive
  • Print ISBN 978-94-010-5727-1
  • Online ISBN 978-94-011-3880-2
  • Buy this book on publisher's site