Bøger i Routledge International Studies in Money and Banking serien

As an integral part of the world financial market, the global asset management industry has played a significant role in almost every critical event and change in the world financial market over the past four decades. Its growth has been facilitated from the financial innovations in products and management technologies from various financial institutions. It is definitely a challenge to comprehend the dynamic linkage between the global asset management industry and the world financial market, institutions and products. This book takes the challenge by providing a systematic and analytical review of the dynamic development of global asset management industry in its market structure, product diversities, risk management technologies and performance. The book aims at offering researchers, investors and financial practitioners a comprehensive introduction on how the dynamic development of global asset management industry has been integrated with the fast changing world financial market, institutions and products. As wealth or asset management is becoming a popular and specialized subject offered in university financial courses, this book may serve as a key textbook for financial courses in universities.

This important book examines the role of monetary and financial factors in growth cycles dynamics interaction. It offers new perspectives and highlights the convergence of theoretical developments of growth and business cycles literatures.

This book builds upon the seminal work by Obsfeld and Rogoff, Foundations of International Macroeconomics and provides a coherent and modern framework for thinking about exchange rate dynamics.

Pension fund benefits are crucial for pensioners¿ welfare and pension fund savings have accumulated to huge amounts, covering a major part of world-wide institutional investments. However, the literature on pension fund economics and finance is rather limited. This book contributes to this literature and focuses on three important areas; the first is pension fund (in)efficiency, which has a huge impact on final benefits, particularly when annual spoilage accumulates over a lifetime; the second is investment behavior and risk-taking; the third field concerns two regulation issues. This groundbreaking book challenges the way pension fund economics is thought about and practiced.

This comprehensive guide serves to illuminate the rise and development of FinTech in Sweden, with the Internet as the key underlying driver. The multiple case studies examine topics such as the adoption of online banking in Sweden; the identification and classification of different FinTech categories and the VC landscape in Sweden.

This book offers a detailed examination of the impact of competition on bank profitability by comparing three different ownership types of Chinese commercial banks (state-owned, joint-stock and city commercial banks), during the period from 2003 to 2013, while at the same time controlling comprehensive bank-specific, industry-specific and macroeconomic variables. It not only investigates the impact of competition on profitability in the Chinese banking industry, more importantly, it outlines the relevant theories of bank profitability and bank competition and also offers a systematic review of Chinese banking industry reform and structure. This is the first book to comprehensively and accurately examine the competitive conditions within the Chinese banking industry, using different competition indicators including the banking sector concentration ratio, Panzar-Rosse H statistics, the Lerner index as well as the Boone indicator. With regard to competitiveness in the Chinese banking industry, all the research is focused on the general competition within the whole banking industry, while the use of the Boone indicator in this book facilitates analysis of the competitive conditions in different banking markets in China, such as the loan market, deposit market as well as the non-interest income market. This not only fills a gap in the empirical literature but also provides markers for the Chinese government and banking regulatory authorities to follow in order to formulate and implement relevant monetary policies, so as to improve bank performance and ultimately profitabilty.

Prompts a re-examination of financial literacy, its social foundations, and its relationship to citizenship education. Includes topics concerning indigenous people¿s perspectives, critical race theory and transdisciplinary perspectives, which invite a dialogue about the ideologies that drive traditional and critical perspectives.

Offers a study of monetary policy and monetary institutions in the Czech Republic, Hungary, Poland and Slovakia during the 1990s and the 2000s. This book also provides a look at monetary policy in less developed, but financially integrated market economies and analyzes specific factors that have an influence on the outcomes of monetary policy.

This book covers 200 years of moral hazard: from its origins in the 19th century to the bailouts announced in the aftermath of the COVID-19 outbreak. It is the first book to provide an interdisciplinary analysis of moral hazard and explain why addressing this issue has become crucial today.

This comprehensive guide serves to illuminate the rise and development of FinTech in Sweden, with the Internet as the key underlying driver. The multiple case studies examine topics such as the adoption of online banking in Sweden; the identification and classification of different FinTech categories and the VC landscape in Sweden.

This book tackles political, social, and behavioural aspects of public finance and fiscal exchange. The book combines conventional approaches toward public finance with new developments in economics such as political governance, social and individual aspects of economic behaviour. It colligates public finance and behavioural economics and gathers original contributions within the emerging field of behavioural public finance.The book addresses public finance topics by incorporating political, social, and behavioural aspects of economic decision-making, assuming the tax relationship is shaped by three dimensions of decision-making. Thus, it aims not only to reflect the interdisciplinary nature of public finance by bringing together scholars from various disciplines but also to examine public finance through the lens of political, social, and behavioural aspects. The book scrutinizes the relationship between political institutions, governance types, and public finance; it investigates the impact of social context, social capital, and societal cooperation on public finance; it explores behavioural biases of individual fiscal preferences.This book is of interest to scholars, policymakers, tax professionals, business professionals, financers, university students, and researchers in the fields of public policy and economics.

This book offers an in-depth analysis of the most salient features of contemporary financial systems and clarifies the major strategic issues facing the development of digital finance. It provides insight into how the digital finance system actually works in a socioeconomic context. It presents three key messages: that digital transformation will change the financial system entirely, that the State has a particularly important role to play in the whole process and that consumers will be offered more opportunities and freedom but simultaneously will be exposed to more risk and challenges.The book is divided into four parts. It begins by laying down the fundamentals of the subsequent analysis and offers a deep understanding of digital finance, including a topology of the key technologies applied in the transformation process. The next part reviews the challenges facing the digital State in the new reality, the digitalization of public finance and the development of digitally relevant taxation systems. In the third part, digital consumer aspects are discussed. The final part examines the risks and challenges of digital finance. The authors focus their attention on three key developments in financial markets: accelerated growth in terms of the importance of algorithms, replacing existing legal regulations; the expansion of cyber risk and its growing impact and finally the emergence of new dimensions of systemic risk as a side effect of financial digitalization. The authors supplement the analysis with a discussion of how these new risks and challenges are monitored and mitigated by financial supervision.The book is a useful, accessible guide to students and researchers of finance, finance and technology, regulations and compliance in finance.

The aftermath of the 2008 crisis has substantially increased the regulation of banks and insurance companies and curtailed their risk taking, which has shifted much of the risk to their clients: firms and consumers. At the same time, digitalization has encouraged the entry of new firms combining finance and technological innovation, a phenomenon known as FinTech. The emergence of non-bank financial entities has contributed to the fragmentation of financial services, and also opened up new markets. Furthermore, the growing emphasis on corporate social responsibility has made it increasingly important for financial organizations to care about their public image.Drawing together these diverse strands, this book examines how the financial sector is evolving and how the existing actors are adapting to the institutional change and to the challenges from new actors and competitors. It also addresses the issue of how financial organizations are providing fixes to the challenges at the systemic level and how a healthier, more diverse and socially responsible financial sector is beneficial to the operations of the market economy as a whole. While there are books that address each of these issues, and also books that look at organizational diversity, there are few that investigate their interconnectedness.Responsible Finance and Digitalization offers a topical overview of the changes that are taking place in the financial sector and how the financial sector itself can contribute to solving global challenges. It equips both students (at MBA and other levels) and practitioners with analytical tools to reflect on this change and to take appropriate action to ensure that their organization can successfully navigate it and create value.