World Finance: A Textbook Presentation and Overview
https://doi.org/10.26794/2308-944X-2021-9-2-46-62
Abstract
Financial globalisation is a general trend of contemporary world economic development that multinational corporations largely drive. Many of them come from English-speaking countries. Many of them are of the U.S. origin, which is why globalisation is often misunderstood and misinterpreted as Americanisation. English is the leading language of globalisation. Even European leaders of supranational level have to speak, communicate and pass E.U. legislation in English. That is why teaching and studying world finance in English is given a high priority in many countries. Russia is no exception to the rule and the Financial University under the Government of the Russian Federation (the University of Finance). This book attempts to outlay the theoretical and practical foundation for the world finance. It contains basic world finance terminology. The textbook can be recommended for teaching world finance and related subjects.
About the Author
M. Zharikov
Financial University
Russian Federation
Russian Federation
Mikhail V. Zharikov – World Finance Department, Professor
Moscow
References
1. Boddin, D., Stähler, F. (2018). The Organization of international trade. CESifo Working Paper, 7378, 6–10.
2. Beetsma, R., Giuliodori, M., De Jong, F., Widijanto, D. (2016). Price Effects of Sovereign Debt Auctions In the Euro-Zone: The Role Of the Crisis. Journal of Financial Intermediation, 25, 30–53.
3. Cohen, B.J. (2012). The Benefits and Costs of an International Currency: Getting the Calculus Right. Open Economies Review, 23(1), 16–17.
4. De Haas, R., Horen, N. van. (2011). Running for the Exit: International Banks and Crisis Transmission. EBRD Working Paper, 124, 2.
5. Dorrucci, E., McKay, J. (2011). The international monetary system after the financial crisis. European Central Bank Occasional Paper Series, 123, 10.
6. Gourinchas, P.-O., Obstfeld, M. (2012). Stories of the Twentieth Century for the Twenty-First. American Economic Journal: Macroeconomics, 4(1), 226–265.
7. Johnson, J. (2013). The Russian Federation: International Monetary Reform and Currency Internationalization. The BRICS and Asia, Currency Internationalisation and International Monetary Reform, 3, 6–15.
8. Kadayan, H. (2014). Indian rupee’s role as an international currency. Abhinav — National Monthly Refereed Journal in Commerce & Management, 2(3), 35–43.
9. Kasekende, L., Brixova, Z., Ndikumana, L. (2010). Africa: Africa’s Counter-Cyclical Policy Responses to the Crisis. Journal of Globalization and Development, 1, 1.
10. Khan, K., Zhao, H. W., Zhang, H., Yang, H. L., Haroon, M., & Jahanger, A. (2020). The Impact of COVID‑19 Pandemic on Stock Markets: An Empirical Analysis of World Major Stock Indices. Journal of Asian Finance Economics and Business. 7(7): 463–474. doi: 10.13106/jafeb.2020.vol7.no7.463
11. Lane, P.R., Milesi-Ferretti, G.M. (2011). The Cross-Country Incidence of the Global Crisis. IMF Economic Review, 59(1), 77–110.
12. Milesi-Ferretti, G.M., Tille, C. (2011). The Great Retrenchment: International Capital Flows During the Global Financial Crisis. Economic Policy, 26(66), 285–342.
13. Obstfeld, M. (2011). The International Monetary System: Living With Asymmetry. NBER Working Papers, 12596, 14.
14. Ostry, J. (2012). Managing Capital Flows: What Tools to Use? Asian Development Review, 1, 82–88.
15. Patil, S.R., Kulkarni, R.R. (2011). Internationalisation of Indian rupee — an empirical study. International Journal of Research in Commerce, Economics and Management, 1, 45–49.
16. Reinhart, C.M., Rogoff, K.S. (2011). From Financial Crash to Debt Crisis. American Economic Review, 101(5), 1676–1706.
17. Rousseau, P.L., Wachtel, P. (2011). What is happening to the impact of financial deepening on economic growth? Economic Inquiry, 49(1), 276–288.
18. Salisu, A. A., & Akanni, L. O. (2020). Constructing a Global Fear Index for the COVID‑19 Pandemic. Emerging Markets Finance and Trade. 56(10): 2310–2331. doi: 10.1080/1540496X.2020.1785424
19. Tripathi, V., & Kaur, A. (2020). Socially responsible investing: performance evaluation of BRICS nations. Journal of Advances in Management Research. 17(4): 525–547. doi: 10.1108/JAMR‑02–2020–0020
20. Vayanos, D., Woolley, P. (2013). An Institutional Theory of Momentum and Reversal. Review of Financial Studies, 26(5), 1087–1145.
21. Yu, Y. (2014). How Far Can Renminbi Internationalization Go? Asian Development Bank Institute’s Working Paper, 461, 9–15.
Review
For citations:
Zharikov M. World Finance: A Textbook Presentation and Overview. Review of Business and Economics Studies. 2021;9(2):46-62. https://doi.org/10.26794/2308-944X-2021-9-2-46-62
Email this article 