Global Information Technology and Competitive Financial Alliances Book

	Preface	vi
Section I	Financial Institutions, Alliances, IT, and Economic Growth
Chapter I	Investment in IT and the Business Performance of Financial Companies	1
Chapter II	Recent Development of Information Technology in Japanese Banks	24
Chapter III	Payment Systems of Financial Institutions: Current State and Future Prospects	39
Chapter IV	Financial Innovation and Economic Growth: Some Further Evidence from the UK, 1900-2003	52
Section II	Financial Markets in the IT Age
Chapter V	Malliavin Calculus for the Estimation of the U.S. Dollar/Euro Exchange Rate When the Volatility is Stochastic	71
Chapter VI	Evolution of the Euro and Currency Competition in the Global ICT Age	102
Chapter VII	Co-Integration of the International Capital Markets with the Use of Information Technology: The Case of Europe	118
Chapter VIII	International Capital Movements, Currency Crisis, and ICT Innovation	143
Chapter IX	Volatility Spillover Structure of Stock and Foreign Exchange Market between Korea, Japan, and Hong Kong	162
Section III	Financial Innovations and IT
Chapter X	Trade Liberalization and International Performance of Australian Manufacturing Industries and ITs	183
Chapter XI	Recent Developments of Digital Cash Projects in Japan	194
Chapter XII	Money is What Money Does: Prospects for an Electronic Money Payment System in Japan	215
Chapter XIII	Investment in IT Stocks by Japanese Life Insurers	229
Chapter XIV	The Roles of IT in the Conduct of Modern Monetary Policy	239
Chapter XV	The Role and Future of Local Currency and IT	257
Section IV	Security, Law, and IT
Chapter XVI	Integrity and Security in the E-Century	268
Chapter XVII	Legal Concerns Against Auctions and Securities Conventions: A Japanese Perspective	293
	Glossary of Terms	306
	About the Authors	311
	Index	317