ISSN:0020-6652    

DOI:10.1002/tie.5060390502

出版商:Wiley Subscription Services, Inc., A Wiley Company    

年代:1997

数据来源: WILEY

ISSN:0020-6652    

DOI:10.1002/tie.5060390503

出版商:Wiley Subscription Services, Inc., A Wiley Company    

年代:1997

数据来源: WILEY

摘要:

AbstractOffshore centers have come to play an important role in the institutional structure of international financial markets. The article identifies two dimensions of dynamic competition that are relevant for an analysis of the offshore center phenomenon. First, there is competition between the offshore centers and one or more domestic financial markets. Second, there is dynamic competitionamongthe offshore centers. The system of offshore centers generates a three‐tier structure of international financial markets: domestic, foreign traditional, and offshore markets, both with respect to financial intermediaries as well as securities markets. This structure constitutes the institutional base for trends in the international financial markets which result in a process of increasing globalizatio

ISSN:0020-6652    

DOI:10.1002/tie.5060390504

出版商:Wiley Subscription Services, Inc., A Wiley Company    

年代:1997

数据来源: WILEY

摘要:

AbstractThis article examines the benefits and costs to the United States of having the US dollar used as an international currency and explains the factors underlying the dollar's use internationally. The main benefit for the United States is that it derives seigniorage from the dollar's international use while the main cost is that there is less scope for controlling domestic monetary conditions. There are three prerequisites for the international use of a currency: (1) confidence in the political stability of the issuing country; (2) deep, broad, and open financial markets in the issuing country; and (3) a large share of world exports on the part of the issuing country. The implications of the euro for the dollar's leading international position are discussed. Data are presented showing that the dollar is the world's leading international currency.

ISSN:0020-6652    

DOI:10.1002/tie.5060390505

出版商:Wiley Subscription Services, Inc., A Wiley Company    

年代:1997

数据来源: WILEY

摘要:

AbstractThere are three fundamental technological shifts that are defining the competitive landscape of the early 21st century in financial service provision. First and foremost isdistributed service provision: both deposit taking and credit provision are becoming more and more dispersed geographically, with less and less need for service providers and service users to meet face to face. The principal enabling technology is in advanced telecommunications, which allows for operation of widely dispersed automatic teller machines, videoconferencing, and internet operations. The second huge technological change that is underway concerns internalmanagement information systems. Financial institutions are now able to put relevant data from affiliates and activities around the world into real‐time globally accessible form. The third technological change isfinancial engineering, which involves creation of new financial products, often derived from existing credit or deposit‐type instruments. This article explores the implications of these dramatic changes in the competitive landscape of financial service provision and suggests strategies for survival into the 21st cent

ISSN:0020-6652    

DOI:10.1002/tie.5060390506

出版商:Wiley Subscription Services, Inc., A Wiley Company    

年代:1997

数据来源: WILEY

摘要:

AbstractSeveral principles of international bank regulatory jurisdictions have emerged since the mid‐1970s. Each principle has advantages and disadvantages in promoting cross‐border competition, ensuring prudent banking practice, and maintaining worldwide financial stability. At the same time, simultaneous application of different principles by different countries has caused overlapping, underlapping, or sheer avoidance of bank regulations, resulting in less transparency and an uneven playing field for internationally competing banks. To level the playing field, bank regulatory harmonization has been advocated, particularly under the auspices of the Basle Committee on Banking Supervision. However, as demonstrated in the case of setting minimum capital standards for market risks, a successive harmonization approach may not be the panacea. There is a need for rethinking of efficiency in regulation, including incentive‐compatible appro

ISSN:0020-6652    

DOI:10.1002/tie.5060390507

出版商:Wiley Subscription Services, Inc., A Wiley Company    

年代:1997

数据来源: WILEY

ISSN:0020-6652    

DOI:10.1002/tie.5060390508

出版商:Wiley Subscription Services, Inc., A Wiley Company    

年代:1997

数据来源: WILEY

摘要:

AbstractBanking regulation and supervision in the EU today has to be conducted in accordance with the Single Market legislation promulgated by the European Commission. The creation of a European Single Market in financial services, which was provided for in the Treaty of Rome of 1957 and in the Single European Act of July 1987 which revised it, was originally planned for completion by the end of 1992, although the final pieces of the jigsaw were not in place until the beginning of 1996. This article explains what the European Single Market in financial services represents, the rationale for it, and the measures, including the use of legally binding Directives, adopted to deliver it on the banking front. It concludes with a discussion and analysis of some of the issues and concerns which implementation of the Single Market program for banking services has given rise to, with special emphasis being placed on the evolution of minimum capital standards for banks.

ISSN:0020-6652    

DOI:10.1002/tie.5060390509

出版商:Wiley Subscription Services, Inc., A Wiley Company    

年代:1997

数据来源: WILEY

摘要:

AbstractThis article provides the analytical basis for the adoption of a longer view to portfolio diversification in Latin America. The benefits to be gained through time diversification are studied in the context of four countries: Argentina, Brazil, Chile, and Mexico. The empirical evidence of actual annualized returns indicates that risk in investment in Latin American equity returns tends to diminish over longer term investment horizons.

ISSN:0020-6652    

DOI:10.1002/tie.5060390510

出版商:Wiley Subscription Services, Inc., A Wiley Company    

年代:1997

数据来源: WILEY

ISSN:0020-6652    

DOI:10.1002/tie.5060390501

出版商:Wiley Subscription Services, Inc., A Wiley Company    

年代:1997

数据来源: WILEY