INTERNATIONAL FINANCIAL MARKETS

Suk H. Kim

Chapter 9 in Global Corporate Finance:A Focused Approach, 2023, pp 193-222 from World Scientific Publishing Co. Pte. Ltd.

Abstract: International financial markets are a major source of funds for international transactions. Most countries have recently internationalized their financial markets to attract foreign business.Recent financial globalization is being driven by advances in data processing and telecommunications, liberalization of restrictions on cross-border capital flows, deregulation of domestic capital markets, and greater competition among these markets for a share of the world’s trading volume. This globalization involves both a harmonization of rules and a reduction of barriers that will allow for the free flow of capital and permit all firms to compete in all markets. In other words, financial market imperfections declined because of this global integration of money and capital markets. Yet, there are still excellent opportunities for companies to lower their cost of capital and for investors to increase their return through international financial markets. This chapter examines the three financial markets — Eurocurrency, international bond, and international equity — that allow companies to serve customers around the world. In addition, this chapter also discusses developing countries’ debt problems and financial crises of industrialized countries.

Keywords: Global Finance; International Finance; International Financial Management; International Accounting; International Business; International Business Finance; Foreign Trade; International Economics; Foreign Exchange; International Corporate Finance; Multinational Finance; International Taxation (search for similar items in EconPapers)
JEL-codes: F F21 F23 F3 F30 F31 G3 (search for similar items in EconPapers)
Date: 2023
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