The Global Structure of Financial Markets: An Overview Book

	List of figures
	List of tables
	List of contributors
	Preface
1	Introduction: The Global Structure of Financial Markets: An Overview	1
2	Globalization of Business and Finance and Emerging Capital Markets	17
3	On the Estimation of Global Beta	31
4	Perverse Effects of Globalization in Today's Latin American Finance	36
5	Liberalization and Deregulation of the Mexican Stock Market	50
6	Latin American Equity Markets: Benefits from Diversification and Currency Hedging	74
7	Global Co-Movements of Stock Markets before and after the 1987 Crash	91
8	Equity and Oil Markets under External Shocks	103
9	Naked and Covered Speculation in Foreign Exchange Markets	119
10	Consistent Estimates of Exchange-Rate Pass-Through Coefficients for the Leading European Countries	144
11	On Forecasting Foreign Exchange Rates	170
12	Exchange Rate Theories and the Behavior of Exchange Rates: The Records Since Bretton Woods	182
13	Forward and Futures Markets: Conceptual Differences and Computational Illustrations	192
14	Immunizing Currency Risk in International Trade and Finance: The Development of a SDR Futures Market	201
15	Purchasing Power Parity and the Peso/Dollar Exchange Rate	215
16	Contestable Markets and the Mexican Banking Sector in the Context of Nafta	229
17	Rivalry and Evolution of an Industry's Structure: The Case of the Costa Rican Banking System	259
18	International Interest Rate Mechanisms in Bank Lending and Borrowing Markets	274
19	European Union Equity Market Reactions to the 1992-93 ERM Crisis	287
20	The Evolution of US Multinational Banking	319
21	External Capital Flows to Developing Countries: Prospects for the 1990s	331
22	Determinants of Foreign Direct Investment Outflows of Selected OECD Countries	344
23	An Examination of the Argument for Increased Investment in Emerging Markets	351
24	Re-Exploring Financial Diversification: The Mexican Case	367
25	Capital Flight from India to the United States through Abnormal Pricing in International Trade	382
26	A Frontier Function Analysis of Capital Flight from Selected Latin American Countries	406
27	Offshore Markets and Capital Flows: A Theoretical Analysis	422
	Index	432