International Financial Markets And India

Globalisation and opening up of our economy has made it essential to understand the functioning of international financial markets which are private and unregulated. This book presents an overview of the international financial markets including foreign exchange market, international money, banking, equity (stock exchanges) and bond markets. The ongoing international financial crisis (March 2009) has been presented as Preface to this Third Edition. Analysis of the exchange rate of regimes is presented along with the theory of determination of exchange rates. The derivative instruments available for hedging exchange and interest rate risks are discussed at length. Problem of liquidity and the impact of external debt on economic stability have been highlighted. The practices in syndicated loan which are relevant for raising external commercial loans are stated. New characteristics of Syndicated Loans have been analysed. The functioning of major stock exchanges in developed and emerging countries has been examined in view of the interest in listing equity in external markets. Finally, the concepts and procedures in accessing international equity markets through ADRs and GDRs are explained. The book would be of immense use to the students of economics and MBA as well as bankers and corporate executives.