Financial globalization could be described as a process in which global financial activities get increasingly integrated with the risk creation mechanism. This description emphasizes three points. First, financial globalization is not only a process in which financial activities transcend national borders, but also a process in which risks spread across the markets. Second, financial globalization is initiated by many micro-economic entities to seek profits and is driven by the integration of global financial markets. Third, it is a gradually deepening process with distinct phases....
Although the growing literature on the importance of finance in economic growth contrasts
bank-based financial systems with market-based financial systems, little attention has been paid to the
role of the bond market. Correspondingly the role of the bond market has been very small relative to
that of the banking system or equity markets in most Asian emerging economies. We argue that the
underdevelopment of Asian bond markets has undermined the efficiency of these economies and
made them significantly more vulnerable to financial crises....
Extreme weather is hitting all regions of the globe with increasing
severity. Despite the damage that can and will be caused from these
extreme weather events, certain industries will nevertheless benefit
and certain industries will be hurt. It is the purpose of this book to identify
and evaluate the sectors, industries, companies, and more specifically the
particular stocks, bonds, and futures that will be the winners and losers
as extreme weather events continue to impact the Earth. Every investment
idea in this book will work under the current, global climate condition.
One method of addressing personal fi nances among students of higher education is
through college- and university-based fi nancial education programs. In recent years,
there has been a growth in the number of these programs, which vary widely in their
composition. Some schools offer individual fi nancial counseling services for students,
while others provide presentations and workshops relative to personal fi nance
topics; others provide websites with links to fi nancial content.
The initial euphoria created by liberalisation and scam-induced spurt in share
prices helped mobilisation of large amount of resources from the market. Far from
raising resources directly from the investors, companies, for the past few years have
been, however, resorting to private placements and borrowings (Table-I).
Households on their part have been denouncing corporate securities (Table-II). The
primary market is practically dry (Table-III). There was, however, a brief upswing in
2000 when the so-called new economy stocks flooded the market with many issues of