Front Matter -- Theoretical Overview. Introduction -- Financial System Functions -- Financial System Governance -- Financial System Organization and Change -- Market versus Nonmarket Governance. Market Governance -- Intermediation and Internal Governance -- Terms of Deals -- Asset Prices and Market Relations. Pricing Stocks and Bonds -- Pricing Derivatives by Arbitrage -- Markets with Impediments to Arbitrage -- Applications: Market Activity. Securities, Bond and Mortgage Markets -- Markets for Trading Risks -- Exchange Rates and Markets -- Applications: Pooled Investments. Marketable Securities Portfolios -- Nonmarketable Securities Portfolios -- Applications: Intermediation. Principles of Intermediation -- Management Practice: Domestic Institutions -- International Banking and Banking Markets -- Industry Organization and Regulation. Banking Market Structure: Models and Empirical Research -- Bank Runs and Systemic Risk -- Financial Activity and Capital Formation -- Financial Regulation -- References -- Index.

Includes bibliographical references and index.

Theoretical overview -- Financial system functions -- Financial system governance -- Financial system organization and change -- Market versus nonmarket governance -- Market governance -- Intermediation and internal governance -- Terms of deals -- Asset prices and market relations -- Pricing stocks and bonds -- Pricing derivatives by arbitrage -- Markets with impediments to arbitrage -- Applications: market activity -- Securities, bond and mortgage markets -- Markets for trading risks -- Exchange rates and markets -- Applications: pooled investments -- Marketable securities portfolios -- Nonmarketable securities portfolios -- Applications: intermediation -- Principles of intermediation -- Management practice: domestic institutions -- International banking and banking markets -- Industry organization and regulation -- Banking market structure: models and empirical research -- Bank runs and systemic risk -- Financial activity and capital formation -- Financial regulation.

A valuable guide to the essential elements of modern financial systems. This book offers you a unified theory of modern financial system activity. In it, author Edwin Neave distills a large body of literature on financial systems, the institutions that comprise the systems, and the economic impacts of the systems' operation. Through non-technical summaries, Neave provides you with a primer on how financial systems work, as well as how the many parts of any financial system relate to each other. He does so in a straightforward manner, with an emphasis on economic principles and the relationship.

John Wiley and Sons Wiley eBooks