Economics

Exchange Rates and International Finance

---

When the first edition of this book was published, nearly fifteen years ago, I began my preface by noting the growing importance of exchange rates in a world of increas- ing globalisation. A lot has happened to change the world’s financial landscape in that decade and a half. Perhaps the most notable events have been the establishment of the European Monetary Union, and the dramatic changes in Eastern Europe with the collapse of the Soviet Bloc and the recent accession to the EU of five new members. The former development has dramatically reduced and the latter increased the number of exchange rates in the world. Even if the net effect has been a reduc- tion of one or two in the number of exchange rates in the world, the importance of those remaining is probably greater than ever, especially the key Dollar-Euro and Dollar-Yen rates. In fact, if the current trend continues (which I doubt), the world will tend more and more to divide into two blocs – a Dollar bloc encompassing the USA and most of East Asia other than Japan, and a Euro bloc covering EU members, present and future, and probably a number of satellite currencies. How- ever, as long as there is no single world currency – and it is difficult to see any prospect of one – we will have to live with exchange rates and more importantly with exchange rate fluctuations.

---

Availability

No copy data

Detail Information

Series Title

Exchange Rates and International Finance

Call Number

-

Publisher

: ., 2005

Collation

-

Language

English

ISBN/ISSN

0273-68306-3

Classification

NONE

Content Type

-

Media Type

-

Carrier Type

-

Edition

Fourth Edition

Subject(s)

Economics

Specific Detail Info

-

Statement of Responsibility

-

Other version/related

File Attachment

Comments

---

You must be logged in to post a comment