Banking, Finance & Accountancy 2010 New textbooks to guide you through the changing financial landscape New New New edition New edition March 2010 | Paperback | £36.99 978-0-230-24660-7 April 2010 | Paperback | £29.99 978-0-230-24309-5 March 2010 | Paperback | £39.99 978-0-230-23321-8 » See page 15 Published in association with the Open University » See page 19 » See page 12 For more information, to make a purchase or request an inspection copy today: » www.palgrave.com/finance Order securely online at www.palgrave.com or telephone +44 (0)1256 302866 fax +44 (0)1256 330688 email
[email protected] Taureau Tête © Yveline Thouvenot/Fotolia.com Banking, Finance & Accountancy 2010 KEY TO SYMBOLS New/New in Paperback Title available as an ebook Inspection copy available Web resource available Journal CONTENTS Banking Palgrave Macmillan Studies in Banking & Financial Institutions Series Monetary Economics Quantitative Methods Finance and Financial Markets Finance & Capital Markets Series Financial Management International Finance Public Finance Accounting Reference Teaching, Learning & Research in Higher Education Universities into the 21st Century Series Office for National Statistics Index 2 2 8 9 10 13 15 17 20 21 23 24 24 25 29 Welcome to the new Palgrave Macmillan Banking, Finance an Accountancy 2010 catalogue. In the wake of the international financial crisis and the continuing search for ways to regain enduring economic stability, we are pleased to bring you analysis and recommendations from leading experts in the financial world. We have policy analysis from the FSA’s Banking Sector Director in Crisis: Cause, Containment and Cure; Dimitris Chorafas’s Financial Boom and Gloom is still hailed as one of the most readable accounts of the origins of the meltdown and the new Palgrave Macmillan Dictionary of Finance, Investment and Banking includes all the latest terminology arising from the events of the debacle. We’re delighted to partner with some of the most established and respected organizations in the industry. KMPG help make it easy to understand the latest International Financial Reporting Standards in their new edition of IFRS – A Visual Approach and the ever-faithful St. James’s Place Tax Guide, this year in its 39th edition, will include advice regarding the tax changes following the recent change of government in Great Britain. We are also very proud to continue to publish subject leading texts in partnership with the Open University. Our latest joint venture, Personal Investment, edited by Marina Mazzucato and an expert author team at the Open University, highlights the increasing degree to which financial markets, and the various products that are sold in those markets, affect economic stability. This year we are also pleased to be publishing two new editions of our bestselling titles: Stephen Valdez’s An Introduction to Global Financial Markets, now in its 6th edition, and Keith Pilbeams Finance & Financial Markets, third edition. Both of these texts have been updated to consider the recent financial crisis and discuss the implications for the future. Best Wishes, Lisa von Fircks, Senior Commisioning Editor,
[email protected] Martin Drewe, Publisher,
[email protected] For a complete list of titles, please visit www.palgrave.com. Prices are correct at the time of print. Our catalogues and the packaging they are delivered in are recyclable - when you have finished with this catalogue please recycle it. Printed by an ISO 14001 (Environmental Standard) accredited printer on paper from a managed source to PEFC standard, and printed using vegetable-based ink. BANKING BANKING PALGRAVE MACMILLAN STUDIES IN BANKING & FINANCIAL INSTITUTIONS Series Editor: Philip Molyneux ‘The series provides an excellent grounding in the principles of banking and an increased understanding of the current and future research and policy agendas in the industry. A must read for students, academics and practitioners and policy makers alike.’ - Jlllohn O.S Wilson, Professor of Banking and Finance, Management School, University of St.Andrews, UK The Palgrave Macmillan Studies in Banking and Financial Institutions series is international in orientation and includes studies of banking systems in particular countries or regions as well as contemporary themes such as Islamic Banking, Financial Exclusion, Mergers and Acquisitions, Risk Management, and IT in Banking. The books focus on research and practice and include up-to-date and innovative studies that cover issues which impact banking systems globally. To view all titles in the series please visit: www.palgrave.com/finance/sbfi.asp Preludes to the Icelandic Financial Crisis Edited by Robert Z. Aliber, Professor of International Economics and Finance, University of Chicago Graduate School of Business, USA and Gylfi Zoega, Professor of Economics, University of Iceland, Iceland The Management of Consumer Credit Theory and Practice 2nd edition Steven Finlay, Head of Analystics, HML, UK This book brings together contributions from world renowned experts to examine the financial developments in Iceland, and the privatization of the banking system, drawing conclusions from the Iceland experience for other countries. Contents: R.Aliber: Introduction / G.Zoega: Summary of Papers / T.Olaf Sigurjonsson: Privatisation and Deregulation: A Chronology of Events . / PART I: INTERNATIONAL ORGANIZATIONS AND THE CENTRAL BANK OF ICELAND / International Monetary Fund, Article IV Consultations 2004-2008 / OECD Policy Brief 2008 / Central Bank of Iceland, Financial Stability Reports 2005-8 / PART II: OTHER PAPERS AND REPORTS / Fitch Report, February 2006 / L.Christiansen: Iceland’s Geyser Crisis / F.Mishkin & T.T.Herbertsson: Financial Stability in Iceland / F.M.Baldursson & R.Portes: The Internationalization of Iceland’s Financial Sector / W.Buiter & A.Sibert: The Collapse of Iceland’s Banks: The Predictable End of a Non-viable Business Model / D.Gros: Iceland on the Brink? / T.Gylfason: Events in Iceland: Skating on Thin Ice / G.Zoega: A Spending Spree / R.Z.Aliber: Monetary Turbulence and the Icelandic Economy / PART III: LESSONS FOR OTHER COUNTRIES / A.Sibert: Overbanked and Undersized: Lessons from Iceland November 2010 272pp 50 illustrations Hardback £67.50 216x138mm 978-0-230-27692-5 This book explains how financial institutions, such as banks and finance houses, manage their portfolios of credit cards, loans, mortgages and other types of retail credit agreements. The second edition has been substantially updated, with new chapters on capital requirements, Basel II, scorecard and portfolio monitoring. Contents: Consumer Credit Management: An Introduction / Organizational Matters / Marketing / Predicting Consumer Behaviour / Customer Acquisition / Customer Management / Collections (Early Stage Delinquency) / Debt Recovery (Late Stage Delinquency) Fraud / Funding and Provision / Capital Requirements / Appendix A: Predictive Models of Consumer Behaviour / Appendix B: Scorecard and Portfolio Monitoring / Appendix C. US and UK Legislation / Appendix D: Recommended Reading / Bibliography / Index April 2010 280pp 20 figures and 13 b/w tables Hardback £65.00 216x138mm 978-0-230-23830-5 Corporate and Social Transformations of Money and Banking Breaking the Serfdom Edited by Simon Mouatt, Senior Lecturer in Economics, Southampton Business School, UK and Carl Adams, Principal Lecturer in Information, University of Portsmouth, UK New Issues in Financial Institutions Management Edited by Franco Fiordelisi, Professor of Banking and Finance, University of Rome III, Italy, Philip Molyneux, Professor of Banking and Finance, Bangor Business School, Bangor University, UK and Daniele Previati, Professor of Banking and Finance, University of Roma III, Italy As the real economy is increasingly digitalized, banking lags behind. It is thus not well placed to support the new economy. This book provides some perspective on the changes taking place, identifying the systemic weaknesses in the traditional financial infrastructure, and proposing some radical rethinking to address systemic financial instability. October 2010 Hardback 256pp £65.00 216x138mm 978-0-230-27594-2 This book examines new issues in financial markets and institutions raised by the global economic crisis that began in 2007. The four main themes are: management, innovation and technology in banking; efficiency and productivity; consolidation; 2 Order securely online at www.palgrave.com or telephone +44 (0)1256 302866 BANKING and corporate governance issues. Contents: PART I: BANK MANAGEMENT, INNOVATION AND TECHNOLOGY / PART II: EFFICIENCY AND PRODUCTIVITY OF FINANCIAL INTERMEDIARIES / PART III: CONSOLIDATION IN THE FINANCIAL SECTOR / PART IV: CORPORATE GOVERNANCE ISSUES New Issues in Financial and Credit Markets Edited by Franco Fiordelisi, Professor of Banking and Finance, University of Rome III, Italy, Philip Molyneux, Professor of Banking and Finance, Bangor Business School, Bangor University, UK and Daniele Previati, Professor of Banking and Finance, University of Roma III, Italy EU Payments Integration The Tale of SEPA, PSD and Other Milestones Along the Road Ruth Wandhöfer, Head of Payments Strategy & Market Policy, Citi, UK A Full Table of Contents is Available at: www.palgrave.com October 2010 Hardback 288pp £65.00 216x138mm 978-0-230-27810-3 The British Insurance Industry Since 1900 The Era of Transformation Robert L. Carter, Emeritus Professor of Insurance Studies, University of Nottingham, UK and Peter Falush, Economist The book presents a contemporary insight into key trends impacting on global financial institutions post crisis and highlights new policy and research areas affecting banks and other financial institutions. The four main themes are: the financial crises, credit activity, capital markets and risk management. Contents: List of Tables and Figures / F.Fiordelisi, P.Molyneux & D.Previati: Introduction / PART I: FINANCIAL CRISES / R.Van Der Linden: China’s Regulatory Framework of the Financial Sector to be Tested by the Economic Downturn / C.Porzio, F.Battaglia, A.Meles & M.Grazia Starita: Financial Turmoil and Asymmetric Information Theory - Evidence from E-MID Platform / J.Maudos & J.Fernández De Guevara: The Impact of European Financial Integration on Economic Growth / E.Seghezza & G.B.Pittaluga: Can Financial Supervision Enhance Central Bank’s Independence? / J.M.Pastor, J.Quesada & L.Serrano: The Impact of a Housing Price Bubble on the Intensity of the Recent Credit Crunch: Evidence from Different Countries / G.A.Vento & P.La Ganga: Interbank Market and Liquidity Distribution during the Great Financial Crisis: The E-MID Case / F.H.Brinkhuis: Quantitative Easing Versus Credit Easing / B.Casu, A.Ferrari & Tianshu Zhao: Financial Reforms, Competition and Risk in Banking Markets / PART II: THE LENDING BUSINESS: MARKETS AND INSTRUMENTS / F.Poli & E.T.Uberti: The Diffusion of Credit Brokers in Italy - A Spatial Econometric Analysis / R.Giovannini, V.Pesic & V.Capizzi: Determinants and Effects of Venture Capital and Private Equity Investments on Italian SMEs / M.Caratelli: Transparency of Price Conditions in the Consumer Credit / PART III: CAPITAL MARKETS AND RISK MANAGEMENT / G.Torluccio & M.Toscano: Profitability of Momentum and Reversal Patterns of Pan-European Industries Portfolio / T.Lindblom & G.Bergendahl: Duration Analysis - An Exposé / C.Lucarelli & G.Brighetti: Biased or Unbiased Risk Perception in the Financial Decision Making / T.Lindblom & M.Willesson: Banks’ Measurement of Operational Risk and the Effect on Regulatory Capital / Index September 2010 240pp 216x138mm 38 b/w tables, 37 figures, 3 charts and 8 graphs Hardback £65.00 978-0-230-27544-7 A comprehensive chronicle of the transformation of the intensely competitive Britsih insurance industry in response to evolving economic, social, technological and political condituions. It analyzes the fast-changing shape of the distribution system, the role of the state and the shifting boundaries of insurability and risk transfer May 2009 256pp 81 b/w tablers and 26 figures Hardback £70.00 216x138mm 978-0-230-21964-9 ‘I very much welcome the publication of this book. We are at a critical point in the evolution of the European payments landscape and this book comes at the right time to address the key strategic issues for the payments industry in Europe and in a broader global context.’ - Gerard Hartsink, Chair of the European Payments Council This is an inside view of the forces which shaped SEPA and the PSD written from the unique perspective of someone closely involved throughout the process. It uncovers the strategic, legal and practical implications of the full harmonisation agenda and provides an assessment of where these initiatives stand today including key lessons learned. Contents: About the Author / Acknowledgements / Foreword / Preface / Title I – Prelude: Setting the Scene for EU Payments Integration / Title II – EU Financial Regulation Explained: The Powers and the Pitfalls / Title III – EU Payments Legislation and Industry’s Response: The Early Years / Title IV – PSD: The Odyssey to the Final Text / Title V – From Publication to Transposition: The Directive Dilemma / Title VI – SEPA: From Design to Launch / Title VII – Postlude: The Future for European Payments in a Global Context / Notes / Bibliography and Useful Websites / Glossary / Index October 2010 Hardback 224pp £65.00 216x138mm 978-0-230-24347-7 To view all titles in the series please visit: www.palgrave.com/finance/sbfi.asp 1000s of scholarly ebooks available at www.palgraveconnect.com, ask your librarian to request a trial 3 BANKING PALGRAVE MACMILLAN STUDIES IN BANKING & FINANCIAL INSTITUTIONS CONT... Mergers and Acquisitions in European Banking Franco Fiordelisi, Professor of Banking and Finance, University of Rome III, Italy Capitalism Without Capital Dimitris N. Chorafas, International Management Consultant Cooperative Banking in Europe: Case Studies Edited by Vittorio Boscia, Full Professor of Banking and Finance, University of Salento, Italy, Alessandro Carretta, Full Professor of Financial Markets and Institutions; Director, Ph.D Program in Banking and Finance, University of Rome “Tor Vergata”, Italy and Paola Schwizer, Full Professor of Banking, University of Parma, Italy Provides a detailed analytical assessment of the merger and acquisition phenomenon in banking. It advances the prior literature focusing on some specific aspects that have been investigated by only limited previous analysis by assessing the effect produced by M&A transactions on bank efficiency and shareholder value. Contents: List of Tables and Figures / Preface / Acknowledgements / Why Study M&A in Banking? / Merger and Acquisition Trends in the European Banking / Why do Banks Merge? / M&A of Financial Institutions: A Review of the Literature / Do M&A’s Create Value for Shareholders? The Short-term Wealth Effect / Do M&A’s Create Value for Shareholders? The Long-term Wealth Effect / Do M&A’s Create Value for Shareholders? The Effect on the Bank Efficiency / The Post-Acquisition Integration / Conclusions / References / Index November 2009 216pp 37 b/w tables and 8 figures Hardback £65.00 216x138mm 978-0-230-53719-4 This book examines the banking crisis of July/ August 2007 and its ensuing after-effects in 2008-2009: economic crisis, credit crunch, massive recapitalization of some banks and nationalization of other banks. The author offers his views on the factors which led to this global financial catastrophe and how it could have been avoided. July 2009 288pp 3 b/w tables and 14 figures Hardback £65.00 216x138mm 978-0-230-23346-1 This book investigates the main features of the evolution of the co-operative banking model in European countries, using ‘country case-study’ analysis. Structured in two parts, the first deals with a sample of countries that joined the European Union before 2000; the second part with a sample of newly-admitted European Union member countries. Contents: List of Illustrations / Preface / About the Authors / A.Carretta, P.Schwizer& V.Boscia: Introduction / PART I: CO-OPERATIVE BANKING IN THE WESTERN EU-COUNTRIES / V.Stefanelli: The Banking System in Portugal: The Case of Credito Agricola Mutuo Group / V.Stefanelli: The Cooperative Banking System in Spain / P.Marchetti & A.Sabetta: The Cooperative Banking System in France / V.Stefanelli: The Peculiarity of the UK Case: The Mutual Building Societies / M.Cotugno: Cooperative Banking in the Netherlands: Rabobank Network / M.Biasin: The German Cooperative Banking System: Volksbanken and Raiffeisenbanken / R.Di Salvo: The Cooperative Credit System in Italy / R.Di Salvo, J.S.Lopez& I.Schraffl: The Credit Cooperative System in Finland / PART II: CO-OPERATIVE BANKING IN THE NEW EU-COUNTRIES / M.Cotugno: Cooperative Banking in the Newly European Countries / C.Bussoli: Credit Cooperatives in Romania / M.Cotugno: The Bulgarian Cooperative Banking / CONCLUSIONS / A.Carretta, P.Schwizer& V.Boscia: Concluding Remarks / Notes / References / Index December 2009 280pp 216x138mm 48 b/w tables, 55 figures, 14 graphs and 4 photographs Hardback £60.00 978-0-230-57677-3 ebook available from: Palgrave Connect Economics & Finance Collections Financial Boom and Gloom The Credit and Banking Crisis of 2007–2009 and Beyond Dimitris N. Chorafas, International Management Consultant ebook available from: Palgrave Connect Economics & Finance Collections The credit and banking crisis which hit the western world in 2007/2008 has and will continue to have far-reaching aftereffects. At their core are Collateralized Debt Obligations (CDOs) and Credit Default Swaos (CDSs), the main themes of this book. March 2009 Hardback 304pp £70.00 216x138mm 978-0-230-57811-1 ebook available from: Dawson ERA, Ebook Library, ebooks.com, Ebrary, Myilibrary, NetLibrary, Palgrave Connect Economics & Finance Collections ebook available from: Palgrave Connect Economics & Finance Collections Mergers and Acquisitions Order securely online at www.palgrave.com or telephone +44 (0)1256 302866 4 BANKING Globalization and the Reform of the International Banking and Monetary System Edited by Otto Hieronymi, Professor of International Relations, Webster University, Switzerland Consolidation in the European Financial Industry Edited by Roberto Bottiglia, Full Professor of Banking and Finance, Faculty of Economics, University of Verona, Italy, Elisabetta Gualandri, Full Professor of Banking and Finance, University of Modena and Reggio Emilia, Italy and Gian Nereo Mazzocco, Full Professor of Banking and Finance, Faculty of Economics, University of Udine, Italy Financial Markets and Organizational Technologies System Architectures, Practices and Risks in the Era of Deregulation Edited by AlexandrosAndreas Kyrtsis, Professor of Sociology, University of Athens, Greece The book argues that a successful monetary and banking reform requires: a rollback of monetary nationalism and return to monetary internationalism; trust in the banking system with its basic functions restored; a balance between competition and solidarity in order to assure political and social acceptance of globalization. Contents: Acknowledgements / Notes on the Contributors / O.Hieronymi: Introduction / O.Hieronymi: From ‘Global Finance’ to the Crisis of Globalization / O.Hieronymi: An Agenda for the Reform of the International Monetary System / M.Sakbani: The Global Financial Crisis, Central Banking and the Reform of the International Monetary and Financial System / D.Kaeser: The Role of the IMF / P.Bod: The Financial Landscape - Seen From a Converging Country / B.Burgenmeier: International Institutional Reforms Between Economic Growth and Sustainable Development / A.Baladi: The Impact of Corporate Governance on Financial Markets / E.Carton: Banks, Their Role and Responsibility in the Crisis, Their Future / G.Csurgai: Sovereign Wealth Funds: Strategies of Geo-Economic Power Projections / S.Marchi: The WTO’s Doha Development Agenda: An Unclear Roadmap / C.Perez del Castillo: The Multilateral Trading System: Special and Differential Treatment for Developing Countries in the WTO / N.Birchler: Swiss Financial Self-Regulation Mechanisms in the Fight Against Money-Laundering and Terrorist Financing / C.Viladent: An Epidemiologic Approach of Financial Markets / Notes / Bibliography / Index November 2009 344pp 216x138mm 9 charts, 5 figures, 8 b/w tables and 1 illustration Hardback £65.00 978-0-230-23530-4 Globalization and the financial crisis highlight the problems caused by worldwide banking organizations and force financial groups to reassess their development strategies. This book discusses the impact of the crisis on the consolidation process in the European financial industry and the need for regulation and financial supervision. Contents: List of Tables, Figures and Boxes / Preface / Acknowledgements / Notes on Contributors / Acronyms and Abbreviations / R.Bottiglia, E.Gualandri& G.N.Mazzocco: Consolidation in the Financial Industry / E.Geretto: M& A in Banking: A Literature Review / E.Geretto& G.N.Mazzocco: M& A in Banking: Measurement of Some Effects / R.Ferretti, F.Pattarin& V.Venturelli: M& A and Equity Risk in the EMU Financial Sector / R.Bottiglia& L.Chiaramonte: M& A Activity among Major European Banking Groups / R.Bottiglia& A.Paltrinieri: Financial Crisis and Ownership of Global Banks / V.De Crescenzo& F.Pichler: Bank Size, Consolidation and Operational Risk / A.Dreassi & S.Miani: Supervision of European Insurance Groups / S.Cotterli & E.Gualandri: Cross-border Groups: Supervision after the Crisis / Consolidation in the Stock Exchange Industry; G.Chesini / J.Floreani& M.Polato: Measuring Value in Stock Exchange Mergers / A.V.Guccione: Necessary Reforms for Book–Entry Securities / Notes / References / Index March 2010 264 pp 216x138mm 64 b/w tables, 15 figures and 4 illustrations Hardback £65.00 978-0-230-23322-5 This book is a valuable companion for everyone who is interested in the historical context of the co-evolution of financial markets and information technologies in the last thirty years. The contributors analyze system architectures and solution technologies in banking and finance by focusing on the particularities of certain practices and risks. Contents: List of Figures / List of Tables / Preface / Notes on Contributors / A-A.Kyrtsis: Introduction: Financial Deregulation and Technological Change / S.Battilossi: The Eurodollar Revolution in Financial Technology: Deregulation, Innovation and Structural Change in Western Banking / J.Pixley: Tensions between Economic Policies, Technology, and Banker’s Professional Perceptions / D.MacKenzie: Opening the Black-Box of Global Finance / D.Gugerli: Data Banking: Computing and Flexibility in Swiss Banks 1960-1990 / B.Bátiz-Lazo & C.Reese: Is the Future of ATM Past? / S.V.Scott: Understanding the Characteristics of Techno-Innovation in an Era of Self-Regulated Financial Services / A-A. Kyrtsis: Organizational Diversity, Network Topologies and the Manageability of Banks / Author and Name Index / Subject Index August 2010 272pp 8 figures and 5 b/w tables Hardback £65.00 216x138mm 978-0-230-23405-5 ebook available from: Palgrave Connect Economics & Finance Collections 1000s of scholarly ebooks available at www.palgraveconnect.com, ask your librarian to request a trial 5 BANKING PALGRAVE MACMILLAN STUDIES IN BANKING & FINANCIAL INSTITUTIONS CONT... The Swedish Financial Revolution Edited by Anders Ögren, Assistant Professor, EHFF Institute for Research in Economic and Business History, Stockholm School of Economics, UK Currency Internationalization: Global Experiences and Implications for the Renminbi Edited by Wensheng Peng, Head of China Research, Barclays Capital and Chang Shu, Researcher, Hong Kong Monetary Authority Financial Instability Toolkit for Interpreting Boom and Bust Cycles Vincenzo D’Apice, Economist, Research Department, Italian Banking Association, Italy and Giovanni Ferri, Professor of Economics, University of Bari, Italy This book explains what is behind the wave of increasingly frequent and severe financial crises since the 1980s. It links theoretical and policy misconceptions to explain, in plain words, why and how global finance needs fixing. Otherwise, the world may not withstand the next, even bigger, financial crisis. Contents: F.Allen: Foreword / Introduction / PART I: UNDERSTANDING FINANCIAL CRISES / Theories of Financial Crises / Macro Models of Financial Crises / Micro Models of Financial Crises / Transmission Channels of Financial Crises / International Monetary Fund / PART II: LIBERALIZATION, CRISES AND MEGA CORPORATE BANKRUPTCIES / The Great Depression / From Bretton Woods to Financial Globalization / Recent Financial Crises / Mega-Bankruptcies of the Early 2000s / PART III: THE GREAT CRISIS OF 2007-2009 / The Great Crisis of 2007-2009 / Crisis in Academic Economics / Conclusions and Perspectives May 2010 248pp 55 figures and 3 b/w tables Hardback £65.00 216x138mm 978-0-230-24811-3 How did Sweden go from a financially backward country to one with a well functioning financial system? Why did this financial revolution occur after the mid-nineteenth century and not before? This book discusses the role of politics and economics in this change and what it means for economic development, market integration and financial crises. Contents: Notes on Contributors / A.Ögren: The Swedish Financial Revolution: An In-Depth Study / K.Nyberg: The Early Modern Financial System and the Informal Credit Market / K.Lilja: The Revolution of a Market for Household Savers, 1820-1910 / T.Petersson: The Growth and Characteristics of Bank Lending, 1860–1910 / A.Ögren: The Modernization of the Bank of Sweden, 1850–1880 / H.Lindgren: The Evolution of Secondary Financial Markets, 1820-1920 / H.Lobell: Financial Market Integration, 1830–1890 / O.Broberg: Incorporation and Financial Modernization / M.Lönnborg & M.Olsson: The Financial Revolution and the Insurance Industry / M.Larsson: The State and the Financial System Regulation and Regime Change around 1900 / H.Sjögren & S.Knutsen: Institutional Clash and Financial Fragility: Sweden’s Financial Crises / A.Ögren & R.Sylla: What We Can Learn from the Swedish Financial Revolution: An International Comparison / Notes / Bibliography / Index February 2010 248pp 19 figures and 10 b/w tables Hardback £65.00 216x138mm 978-0-230-23404-8 This is the first book to collect academic studies examining issues related to the potential internationalization of the Renminbi. It considers policy implications, documents the rising regional importance of the Renminbi and discusses key issues in the increasing use of the Renminbi in international trade and finance. Contents: List of Figures / List of Tables / Notes on Contributors / Foreword / PART I: INTERNATIONAL EXPERIENCES / Global Roles of Currencies / External Use of the African Rand / Internationalizing a Currency: The Case of the Australian Dollar / Foreign Exchange Liberalization and its Implications: The Case of the Korean Won / PART II: ISSUES ON INTERNATIONAL USE OF RENMINBI / The Potential of the Renminbi as an International Currency / Pros and Cons of International Use of the RMB for China / Renminbi Internationalization: Empirical and Policy Analysis / The Effects of the Internationalization of Renminbi on the Finance Industry of China / Internationalization of the Renminbi and its Implications for Monetary Policy / Impact of the Renminbi Exchange Rate on Asian Currencies / Notes / Bibliography / Index November 2009 264pp 216x138mm 63 b/w tables, 23 figures, 9 graphs, 2 illustrations and 22 charts Hardback £65.00 978-0-230-58049-7 Please use the following ISBN to receive all future books published in this series Hardback: 978-1-4039-4872-4 ebook available from: Palgrave Connect Economics & Finance Collections 6 Order securely online at www.palgrave.com or telephone +44 (0)1256 302866 BANKING Central Bank Reserves and Sovereign Wealth Management Edited by Arjan B. Berkelaar, Principle Investment Officer and Head of Multi Asset Class Investment Strategies, World Bank, USA, Joachim Coche, Senior Asset Management Specialist, Bank for International Settlements, Switzerland and Ken Nyholm, Senior Economist, European Central Bank, Germany Interest Rate Models, Asset Allocation and Quantitative Techniques for Central Banks and Sovereign Wealth Funds Edited by Arjan B. Berkelaar, Principle Investment Officer and Head of Multi Asset Class Investment Strategies, World Bank, USA, Joachim Coche, Senior Asset Management Specialist, Bank for International Settlements, Switzerland and Ken Nyholm, Senior Economist, European Central Bank, Germany Central Bank Independence, Accountability, and Transparency A Global Perspective Edited by Bernard J. Laurens, International Monetary Fund, Marco Arnone, Catholic University, Italy and Jean-Francois Segalotto, Research Fellow, CeMaFiR This is an edited collection of essential readings on Reserves Management and Sovereign Wealth Management, from the recent SAA conference organized by the Bank for International Settlements, the European Central Bank and the World Bank Treasury. It offers an exchange of views on technical and implemental issues of financial models. Contents: List of Illustrations / Preface / Introduction / About the Editors / Notes on Contributors / B.Litterman: Dinner Speech: Asset Allocation in a General Equilibrium Framework / PART I: CENTRAL BANK RESERVES MANAGEMENT / K.Rybinski & U.Krynska: Global Reserves Management / A.Joia & J.Coche: Conceptual Issues in Central Bank Strategic Asset Allocation / J.Bonza, N.Gomez & R.Pabon: Strategic Asset Allocation: Balancing Short-Term Liquidity Needs and Real Capital Preservation / U.Kisoen: Asset Liability Management for Central Banks / S.Fisher: Combating Intervention Risks / V.Sahakyan & J.Coche: Reserves Adequacy and Diversification / PART II: SOVEREIGN WEALTH MANAGEMENT / F.Weinberger, B.Lee & D.Rogal: Asset Allocation and Portfolio Construction for Sovereign Wealth Managers / B.Scherer: A Note on Portfolio Choice for Sovereign Wealth Funds / B.Scherer: Portfolio Choice for Oil Based Sovereign Wealth Funds / S.Claessens & J.Kreuser: Strategic Investment and Risk Management for Sovereign Wealth Funds / Y.Zhang, X.Wei& Y.Hou: Optimal Scale and Asset Allocation for SWF: China’s Case / M.Fidora & R.Beck: The Impact of Sovereign Wealth Funds on Global Financial Markets / R.Molenaar, R.Hoevenaars & E.Ponds: Public Investment Funds and Value-Based Generational Accounting / Notes / Bibliography / Appendix / Index December 2009 416pp graphs and tables Hardback £70.00 216x138mm 978-0-230-58089-3 This edited volume contains essential readings for financial analysts and market practitioners working at Central Banks and Sovereign Wealth Funds. It presents the reader with state-of-the-art methods that are directly implementable, and industry ‘best-practices’ as followed by leading institutions in their field. Contents: List of Illustrations / Preface / Introduction / About the Editors / Notes on Contributors / PART I: INTEREST RATE MODELLING AND FORECASTING / r / PART II: PORTFOLIO OPTIMISATION TECHNIQUES / PART III: ASSET CLASS MODELLING AND QUANTITATIVE TECHNIQUES / A Full Table of Contents is Available at: www.palgrave.com November 2009 408pp tables, figures and graphs Hardback £70.00 216x138mm 978-0-230-24012-4 This book explores three key areas of central banking and governance autonomy, accountability and transparency. It looks at links between the areas, as well as assessing the impact of central bank autonomy on macroeconomic performance. The issues are approached from theoretical and empirical perspectives. June 2009 296pp 66 b/w tables and 13 figures Hardback £65.00 216x138mm 978-0-230-20107-1 International Monetary Fund series Guide to Mathematical Modelling 2nd edition Dilwyn Edwards, Senior Lecturer, School of Mathematics, Statistics and Scientific Computing, University of Greenwich, UK, Michael Hamson, Senior Lecturer, Department of Mathematics, Glasgow Caledonian University and David Towers, Head of Mathematics, University of Lancaster, UK ebook available from: Palgrave Connect Economics & Finance Collections A basic introduction to Mathematical Modelling, this book encourages the reader to participate in the investigation of a wide variety of modelling examples. These are carefully paced so that the readers can identify and develop the skills which are required for successful modelling. The examples also promote an appreciation of the enormous range of problems to which mathematical modelling skills can be usefully applied. October 2001 Paperback 336pp £31.99 246x189mm 978-0-333-79446-3 Mathematical Guides Series Editor: David Towers 1000s of scholarly ebooks available at www.palgraveconnect.com, ask your librarian to request a trial 7 BANKING • MONETARY ECONOMICS Banking in Turmoil Strategies for Sustainable Growth Steven I. Davis, Managing Director, Davis International Banking Consultants MONETARY ECONOMICS HIGHLIGHT The Rise and Fall of an Economic Empire With Lessons for Aspiring Economies Colin Read, Professor of Economics and Finance, SUNY College at Plattsburgh, USA We have seen many empires come and go. From the Roman Empire to the British Empire, we are now witnessing the decline of the US as a superpower. How do economic innovations foster global economic dominance, and how does the natural evolution of an economic empire eventually bring about its demise and replacement by other economic superpowers? Contents: Introduction / PART I: FROM 10,000 B.C. TO 1776 – THE DISCOVERY OF ECONOMIES OF SCALE / An Economic Prehistory to Economic Emperors / Barter, Economic Emperors, and the Decentralized Marketplace / Specialization and Surpluses / The First Industrial Revolution / Colonialism Puts Sugar in Our Tea / PART II: A SECOND INDUSTRIAL REVOLUTION / A Declaration of Economic Independence / An Economic Bill of Rights / Dominance Through Economics / Private Solutions to Public Problems / PART III: THE NEW MERCANTILISTS / The Consumer as King / A New Colonialism / Dependency Economics / PART IV: ASPIRING NATIONS / Transfer of Technology / Economic Imitation is the Sincerest Form of Flattery / Heckscher, Ohlin, and Two Billion / Hungry and Willing to Work for Change / PART V: GROWING PAINS / Complex Economic Systems / Herding Cats and Chaos Theory / Too Big to Fail / Private Property Gives Way to the Public Good / The Winner’s Curse / PART VI: A NEW ECONOMIC ORDER / The Politics of a Consumption Economy / Gradual economic Marginalization / A New Economic Order / Convergence / PART VII: FROM WHERE HAVE WE COME, AND WHERE WILL WE GO? / The Dance of Demographics / Steady State and Sustainability / Economic Darwinism and Dinosaurs / Prescriptions for Relevance / Conclusions September 2010 24 figures Hardback 304pp £25.00 234x156mm 978-0-230-27370-2 'A provocative discussion of what the banking landscape might look like after the crisis and practical advice for meeting the growing demands of customers, staff, investors and politicians. If banks are looking for a guide on how to restructure for the future, this is it.’ - Sir Brian Pitman, Former Chairman, Lloyds Bank Group In a time of widespread crisis and uncertainty in the banking world, this interview-based book analyzes how bank management is reassessing strategic models. Contents: List of Figures / List of Institutions Interviewed / Preface / Introduction / From Sub-prime to Quasinationalization: What Actually Happened in 2007-2008 / Generic Lessons from the Turmoil: What Have We Learned for Future Reference? / The Lessons for Future Risk Management / Business Models: How Might They Evolve / The Role of Leadership and Culture / Projecting Past Experience: How Might Bank Profitability and Returns Evolve? / Case Studies of Successful Business Models / Outlook for the Future and Unresolved Issues / Bibliography September 2009 120pp 17 figures Hardback £60.00 216x138mm 978-0-230-23571-7 ebook available from: Palgrave Connect Economics & Finance Collections 8 Order securely online at www.palgrave.com or telephone +44 (0)1256 302866 MONETARY ECONOMICS • QUANTITATIVE METHODS Money and Calculation Economic and Sociological Perspectives Edited by Massimo Amato, Luigi Doria and Luca Fantacci, all at Bocconi University, Italy German Monetary Theory Revisited Riccardo Bellofiore, Associate Professor of Economic Science, University of Bergamo, Italy QUANTITATIVE METHODS A Primer for Unit Root Testing Kerry Patterson, Professor of Economics, University of Reading, UK Money is an important instrument of calculation: as a unit of account and means of payment, it serves the purpose of exchange. Yet, it is increasingly becoming itself an object of exchange and calculation on financial markets, which tend less to the production and exchange of real goods. The question therefore is: has the economy lost its measure? Contents: M.Amato, L.Doria& L.Fantacci: Introduction / J.Cartelier: Money is the Scribe of a Market Economy / Y.Biondi: Money without Value, Accounting without Measure: How Economic Theory can Better Fit the Economic and Monetary System We Live / M.Amato: Silence is Gold. Some Preliminary Notes on Money, Speech, and Calculation / L.Fantacci: What Kind of Calculation is implied in the Money Rate of Interest? / D.Bryan& M.Rafferty: A Time and a Place for Everything: Foundations of Commodity Money / L.Doria: Calculating Life and Money as Resources / B.Maurer: Repressed Futures: Financial Derivatives’ Theological Unconscious / H.Kalthoff & U.Vormbusch: Representing and Modelling: The Case of Portfolio Management / A.Preda: Brief Encounters: Calculation and the Interaction Order of Anonymous Electronic Markets September 2010 256pp Hardback £60.00 216x138mm 978-0-230-27777-9 This book focuses on the early contributions to monetary and business cycle theory from Menger to Mises and Hayek, and considers how these debates influenced the course of later economic thought until today. Other lead figures re-examined include Schumpeter, Machlup and Neisser; less-known key authors covered include Albert Hahn and Carl Foehl. December 2010 Hardback 302pp £65.00 216x138mm 978-0-333-76113-7 'I would like to congratulate you on writing what I consider to be the most accessible and helpful book on the subject of Time Series Analysis.’ Professor Abdul Ghaffar Mughal, Central Asian Academy, Tashkent, Uzbekistan This book gives an authoritative overview of the literature on non-stationarity, integration and unit roots, providing direction and guidance. It also provides detailed examples to show how the techniques can be applied in practical situations and the pitfalls to avoid. March2010 Hardback Paperback 302pp £67.50 £24.99 216x138mm 978-1-4039-0204-7 978-1-4039-0205-4 David Laidler’s Contributions to Economics Edited by Robert Leeson, Associate Professor of Economics, Murdoch University, Australia Bocconi on Management This book provides a collection of essays by leading economists in honour of David Laidler’s contributions to the field of macroeconomics, with important essays on central banking, monetary policy implementation, inflation targeting, monetary theory, monetary framework debates, and the mathematical theory of banking. February 2010 392pp 3 charts, 7 figures and 7 tables Hardback £70.00 234x156mm 978-0-230-01898-3 Palgrave Texts in Econometrics Series Editor: Kerry Patterson ebook available from: Palgrave Connect Economics & Finance Collections Applied Econometrics A Modern Approach Using Eviews and Microfit Revised edition Dimitrios Asteriou, Professor of Economics, City University London, UK and Stephen G. Hall, Professor of Economics, University of Leicester, UK This revised edition of Applied Econometrics is an ideal text for students who are looking for a reliable and practical grounding in the subject. Students are introduced to the various forms of econometric data and shown how to transfer and use the data in the most popular software packages. March 2007 Paperback 436pp £30.99 246x189mm 978-0-230-50640-4 1000s of scholarly ebooks available at www.palgraveconnect.com, ask your librarian to request a trial 9 QUANTITATIVE METHODS • FINANCE & FINANCIAL MARKETS Essential Quantitative Methods For Business, Management and Finance 4th edition Les Oakshott, Senior Teaching Fellow and Practice Link Manager, Warwick Business School, University of Warwick, UK Business Statistics for Non-Mathematicians 2nd edition Sonia Taylor, formerly Senior Lecturer, School of Computing and Mathematics, University of Huddersfield, UK FINANCE AND FINANCIAL MARKETS Private Equity The German Experience Paul Jowett and Francoise Jowett, both at L.E.K. Consulting Gmbh, Germany Comprehensive and practical, this text is packed with real world examples and case studies. Focused on problem-solving and completely updated for the fourth edition it is supported by extensive online resources. Contents: Preface / Notes / Acknowledgements / PART I: MATHEMATICAL APPLICATIONS / Revision Mathematics / Keeping up with Change: Index Numbers / Choosing Wisely: Investment Appraisal / PART II: COLLECTING& INTERPRETING DATA / Collecting Data: Surveys and Samples / Finding Patterns in Data: Charts and Tables / Making Sense of Data: Averages and Measures of Spread / PART III: PROBABILITY& STATISTICS / Taking a Chance: Probablility / The Shape of Data: Probability Distributions / Interpreting with Confidence: Analysis of Sample Data / Checking Ideas: Testing a Hypothesis / Cause and Effect: Correlation and Regression / PART IV: DECISION MAKING TECHNIQUES / How to make Good Decisions / Forecasting: Time Series Analysis / Making the Most of Things: Linear Programming / Planning Large Projects: Network Analysis / Managing Stock Levels: Materials Mangement and Inventory Control / Taking Account of Randomness / Appendices / Index March 2009 528pp 246x189mm 80 colour tables, 20 diagrams and 50 graphs Paperback £34.99 978-0-230-21818-5 Business Statistics is a student-friendly book written to encourage first year business students to understand (and enjoy!) their first experience of statistics. Each topic is well illustrated, with worked examples, tutorial sheets, supplementary exercises, and computer worksheets in SPSS, Minitab and Excel - all with answers provided. February 2007 Paperback 384pp £33.99 246x189mm 978-0-230-50646-6 This tells the story of the development of the private equity industry in Germany. It is the first comprehensive history of the private equity industry for any country, revealing the vicissitudes of private equity investing, warts and all. It is an engaging chronicle for anyone interested in the industry or the modern German economy. Contents: List of Figures / List of Tables / Preface / Acknowledgements / Introduction / Minority Participations: 1965-1975 / The Failed Venture Capital Experiment: 1976-1991 / The Early Shoots: GENES Ventures & Matuschka/TVM / The First Phase: From Venture Capital to LBOs / The Second Phase: 3i, CVC, Bain, and Matuschka / The Third Phase: Trial and Error with LBOs / The Schroders’ Story of the 1980s / The 1984-1991 Experience in Retrospect / The Fourth Phase: Frustrating Times 1992-1994 / East German Adventures / The Fifth Phase: Retrenchment & Spin-offs: 1995-1996 / The Sixth Phase: The Tsunami Begins / The Seventh Phase: 2001: The Collapse and its Aftermath / The Eighth Phase: The Booming Market: 2004-2007 / The Ninth Phase: The Fall / What did Private Equity Ever do for Germany? / A Note on Sources October 2010 480pp photographs of interviewees Hardback £75.00 216x138mm 978-0-230-53776-7 10 Order securely online at www.palgrave.com or telephone +44 (0)1256 302866 FINANCE & FINANCIAL MARKETS Financial Globalization Growth, Integration, Innovation and Crisis Dilip K. Das, Professor of International Economics, School of Business, Contestoga College, Canada Determinants of Financial Development Yongfu Huang, Postdoctoral Researcher, University of Cambridge, UK. Since 2006, he has initiated and maintained the Financial Development Resources website (http://www. landecon.cam.ac.uk/yh279/ fdrnew.html). He is leading the NewEDGE project at Cambridge, which is a large project studying the decarbonization of global economy. Crisis: Cause, Containment and Cure Thomas F. Huertas, Director Banking Sector, Financial Services Authority, UK The recent crisis has redrawn attention to financial globalization. Dilip Das examines under what circumstances it can be welfare-enhancing and lead to rapid economic growth. Written in an accessible style, the book gives the latest insights on the topic. Contents: The Evolution and Unfolding of Financial Globalization / Financial Globalization and the Shifting Sands of the Contemporary Financial Markets / Current Global Financial Crisis and the Approaching Recovery / Financial Globalization and the Integrating EmergingMarket Economies / Macroeconomic Ramifications of Financial Globalization / Sovereign-Wealth Funds: A Paradigm Shift in Capital Flows in the Global Economy September 2010 336pp 7 b/w tables and 1 figure Hardback £70.00 216x138mm 978-0-230-27860-8 The current crisis is emerging as the most severe downturn since the Great Depression. This book examines its cause, the efforts to contain the crisis and proposes a cure that will limit the risk that such crises could recur in the future. Contents: Introduction / PART I: CAUSE / Rational Exuberance? The Great Moderation and the Search for Yield / Fair Weather Finance / PART II: CONTAINMENT / Conditional Containment / Moving Toward Meltdown: The Failure of Lehman Brothers and its Aftermath / Unconditional Containment / PART III: CURE / Better Resolution / Better Deposit Guarantee Schemes / Better Macroeconomic Policy / Better Regulation / Better Supervision / Conclusion: Toward a Globally Consistent Framework / Notes / References / Index May 2010 240 pp 40 figures and 4 b/w tables Hardback £65.00 216x138mm 978-0-230-23618-9 This book examines the emergence of both financial markets and carbon markets, and provides an in-depth investigation on the fundamental determinants of financial development. It looks at specific studies from an economic, political and geographical perspective. September 2010 240pp 27 b/w tables and 9 figures Hardback £65.00 216x138mm 978-0-230-27367-2 The Venture Capital Investment Process Darek Klonowski, Professor of Business Administration, Brandon University, Canada (has worked in the venture capital industry for over fifteen years) Consumer Culture and Personal Finance Money Goes to Market Jacqueline Botterill, Assistant Professor, Brock University, Canada Financial Institutions and Markets 2007-2008 — The Year of Crisis Edited by George G. Kaufman, Professor of Business Administration, Loyola University, USA and Robert R. Bliss Professor, Calloway School of Business and Accountancy, Wake Forest University, USA The book provides one of the most comprehensive overviews of the internal and external challenges of processing venture capital deals, providing an eight stage investment model that breaks down each part of the deal into its own specific challenges and rewards. September 2010 288pp Hardback £52.50 234x156mm 978-0-230-61288-4 This book explores the personal savings and credit discourses surrounding post-war British consumer culture. This cultural history highlights the contradictory meanings of home ownership, domesticity, women’s consumerism, and banking deregulation that underwrote unprecedented financial crisis and consumer indebtedness. January 2010 264pp 2 b/w illustrations Hardback £55.00 216x138mm 978-0-230-00867-0 This book is a collection of research papers that contribute to the understanding of ongoing developments in financial institutions and markets both in the United States and globally. November 2009 228pp Hardback £60.00 216x138mm 978-0-230-61927-2 Consumption and Public Life Series Editors: Frank Trentmann and Richard Wilk ebook available from: Palgrave Connect Economics & Finance Collections 1000s of scholarly ebooks available at www.palgraveconnect.com, ask your librarian to request a trial 11 FINANCE & FINANCIAL MARKETS Anatomy of a Financial Crisis A Real Estate Bubble, Runaway Credit Markets, and Regulatory Failure Marc Jarsulic, Economist and Attorney who works in Washington, D.C. He has been Professor of Economics, University of Notre Dame, USA, Senior Risk Advisor, U.S. Securities and Exchange Commission, and has practiced antitrust law at the Federal Trade Commission and in private practice Finance & Financial Markets 3rd edition Keith Pilbeam, Professor of International Economics and Finance, City University London, UK Progress-Driven Entrepreneurs, Private Equity Finance and Regulatory Issues Zuhayr Mikdashi, Professor of Banking and Financial Systems, University of Lausanne, Switzerland With a Contribution by Benoit Leleux Foreword by Samuel L. Hayes, III An indepth look at the origins and development of the current financial crisis, from an economist and Washington insider. Jarsulic explains how a wide array of financial institutions, including mortgage banks, commercial banks, and investment banks created a credit bubble that supported nonprime mortgage lending and helped to inflate house prices. Contents: The Building Blocks of the Financial Crisis / / The House Price Bubble Ends, the Foreclosure Wave Begins / The Credit Bubble Bursts, the Financial Crisis Begins / Who Caused this Disaster? / Implications and Solutions April 2010 Hardback 208pp £42.50 234x156mm 978-0-230-61568-7 'Comprehensive, studentfriendly text...provides a terrific introduction for students on economics, finance and business programmes.' - John Goddard, Professor of Financial Economics, Bangor University, UK 'Pilbeam has created a comprehensive textbook that will skillfully guide students through the essential building blocks of modern finance...' - Gabriele M. Lepori, Assistant Professor, Department of Finance, Copenhagen Business School, Denmark Finance & Financial Markets is a comprehensive and accessible introduction to finance, making the operation of financial institutions, markets and instruments readily understandable for students on business, economics and finance courses and those wanting to understand the workings of the financial world. Contents: The World of Finance / Financial Intermediation and Financial Markets / Financial Institutions / Monetary Policy and Interest Rate Determination / Domestic and International Money Markets / The Domestic and International Bond Market / Portfolio Analysis: Risk and Return in Financial Markets / The Capital Asset Pricing Model / Stockmarkets and Equities / The Efficiency of Financial Markets / The Foreign Exchange Market / Theories of Exchange Rate Determination / Financial Futures / Options / Option Pricing / Swap Markets / Financial Innovation and the Credit Crunch / Regulation of the Financial Sector March 2010 544pp 70 figures and 80 tables Paperback £39.99 246x189mm 978-0-230-23321-8 'Professor Mikdashi’s new book on entrepreneurship via the private equity route is propitiously timed…This book is rich in insights.’ - Samuel L. Hayes, Harvard Business School, USA Durable business performance is crucially dependent on a stakeholders’ strategy and accessible entrepreneurial finance available within macro-economic and regulatory environments. These reflections on issues and policies of progress are mainly concerned with enabling entrepreneurial risk-takers to operate within an optimal business environment. Contents: List of Exhibits& Boxes / About The Author / Acknowledgements / S.Hayes: Foreword / Preface / PART I: ENTREPRENEURS OVERCOMING SOCIETAL CHANGES / Case Studies / PART II: FINANCIERS AS BUSINESS DEVELOPERS / Diversity of Entrepreneurial Financiers / Strategies for Investee Companies / Transaction Approaches for Business Deals / Vying for Gain / PART III: INVESTMENT DYNAMICS / Private Equity as Wealth Recycler; B.Leleux / A Concluding Reflection / Index December 2009 216pp Hardback £60.00 216x138mm 978-0-230-51498-0 ebook available from: Palgrave Connect Economics & Finance Collections Follow Palgrave Macmillan on Facebook®. Become a ‘fan’ of our Facebook® page to get the latest news, reviews and event invites. www.facebook.com/PalgraveMacmillan 12 Order securely online at www.palgrave.com or telephone +44 (0)1256 302866 FINANCE & FINANCIAL MARKETS Capital Market Instruments Analysis and Valuation 3rd edition Moorad Choudhry, Head of Treasury, Europe Arab Bank plc, UK, Didier Joannas, Regional Director, Thomas Reuters, North Asia, Gino Landuyt, Head of Treasury Sales, Europe Arab Bank plc, UK, Richard Pereira, Investment Actuary and Rod Pienaar, Executive Director, UBS AG Prime Services, UK Foreword by Vince Cable, MP FINANCE AND CAPITAL MARKETS SERIES Series Editor: Erik Banks, Senior Risk Advisor, UniCredit Group Associate Editor: Gianluca Oricchio, General Manager, CBM University, Italy The Finance and Capital Markets series is designed to bring you authoritative, yet accessible, books written by experts in their field. These books provide clear, practical guidance not only for industry professionals, but also serve as a framework of current analysis for scholars and form a comprehensive reference resource for libraries. Dark Pools The Structure and Future of Off-Exchange Trading and Liquidity Erik Banks, Head of Risk Management, UniCredit, Germany Risk and Financial Catastrophe Erik Banks, Head of Risk Management, UniCredit, Germany Revised and updated guide to some of the most important issues in the capital markets today, with an emphasis on fixed-income instruments. Fundamental concepts in equity market analysis, foreign exchange and money markets are also covered to provide a comprehensive overview. Analysis and valuation techniques are given for practical application. Contents: PART I: INTRODUCTION / Introduction to Financial Market Instruments / Market-Determined Interest Rates and the Time Value of Money / The 20072008 Financial Market Crisis: Origins and Lessons Learned / PART II: DEBT CAPITAL MARKET CASH INSTRUMENTS / Money Market Instruments and Foreign Exchange / Fixed Income Securities I / Fixed Income Securities II: Interest Rate Risk / Fixed Income Securities II / Option Adjusted Spread Analysis I / Interest Rate Modelling / Fitting the Yield Curve / Spline Methodology and Fitting the Yield Curve / Inflation-Index Bonds / PART III: STRUCTURED FINANCIAL PRODUCTS / Mortgage Backed Securities I / Mortgage Backed Securities II / Collateralized Debt Obligations / PART IV: DERIVATIVE INSTRUMENTS / Short Term Interest Rate Derivatives / Swaps / Option I / Options II / Options III / Credit Derivatives / PART V: EQUITY INSTRUMENT ANALYSIS / Introduction to Equity Instrument Analysis / Introduction to Financial Ratio Analysis / PART VI: RATE APPLICATIONS SOFTWARE / Rate Computer Software November 2009 576pp graphs, tables and screenshots Paperback £49.00 234x156mm 978-0-230-57603-2 'This is an excellent book. It is bang up-to-date, in what is a very fast changing area. It is clearly written, and provides a very comprehensive description of these markets and how they work. While it fully covers dark pools, its coverage is much wider than that - covering trading in equity markets more generally.’ - Professor Charles Sutcliffe, ICMA Centre, University of Reading, UK Dark Pools is a practical text dealing with the increasingly important topic of dark pools, or non-displayed, off-exchange trading and liquidity. It discusses the development of the equity trading marketplace over the past two decades and how dark pools may evolve in a post-financial crisis world. Contents: PART I: THE NATURE OF CATASTROPHE / Taxonomy of Risk / Catastrophes / Financial Catastrophe / PART II: THE RISK FRAMEWORK / The Risk Management Process / Models, Metrics and Limitations / PART III: PRACTICAL MANAGEMENT / Past Catastrophes / Lessons Learned and Prescriptive Measures / The Future of Risk Management / Notes / Bibliography / Index April 2010 22 figures Hardback 240pp £130.00 234x156mm 978-0-230-23810-7 The risk process commonly used in the corporate world to deal with risks may be suitable for noncatastrophic events, but not for extreme events. By analyzing a series of past disasters and the relevant ‘lessons learned’, this book proposes a series of prescriptive measures to cope with future disasters. Contents: PART I: THE NATURE OF CATASTROPHE / Taxonomy of Risk / Catastrophes / Financial Catastrophe / PART II: THE RISK FRAMEWORK / The Risk Management Process / Models, Metrics and Limitations / PART III: PRACTICAL MANAGEMENT / Past Catastrophes / Lessons Learned and Prescriptive Measures / The Future of Risk Management / Notes / Selected References / Index August 2009 53 figures Hardback 224pp £130.00 234x156mm 978-0-230-57731-2 1000s of scholarly ebooks available at www.palgraveconnect.com, ask your librarian to request a trial 13 FINANCE & FINANCIAL MARKETS FINANCE AND CAPITAL MARKETS SERIES CONT... Derivatives and Internal Models 4th edition Hans-Peter Deutsch, Founder and Managing Director of d-fine, Frankfurt, Germany Global Custody and Clearing Services Ross McGill, Managing Director, T Consult and Globetax, UK and Naren Patel, Securities Industry Practioner, UK Strategy, Value and Risk The Real Options Approach 2nd edition Jamie Rogers, Executive Director, Weston Group, USA 'The idea that options exist in almost every decision scenario is intuitively sensible. What we need to do is recognize them, assess their value and include that value in the decision making process. This concise book effectively gets those two basic ideas over in a manner that can be understood by even the most mathematically-challenges executives.’ - Maria Barbera, Innovations E-newsletter Updated and revised, this second edition applies advanced financial analytics within a strategic framework that recognizes an environment where sustainable competitive advantage is a progressively more difficult task. Real Options offer the link to value and the strategic opportunities that lie in an increasingly dynamic landscape Contents: List of Figures and Tables / Preface / Acknowledgements / Introduction / PART I THE EVOLUTION OF STRATEGY, VALUE AND MEASURING RISK / Strategy: From Corporate Planning to Shareholder Value / Valuation / Investment Risk / Five Shareholder Value Case Studies / PART II DEVELOPMENTS IN STRATEGY, VALUE AND RISK MANAGEMENT / Developments in Strategy / Real Options / Firm Value / Risk Management / PART III QUANTIFYING REAL OPTIONS 59 / Derivatives / Data Analysis / Option Pricing Methods / Implementing Real Options / PART IV REAL OPTIONS CASE STUDIES AND PRACTICAL IMPLICATIONS / Seven Strategic Real Options Case Studies / Conclusion and Practical Implications / References / Index September 2009 224pp 54 figures and 33 b/w tables Hardback £130.00 234x156mm 978-0-230-57737-4 Review of the 3rd ed edition: 'Whether you are looking for a standard reference or a stand-alone learning guide, Derivatives and Internal Models deserves a place on your bookshelf.’ - Risk This book provides a thorough introduction to pricing and risk management of modern financial instruments formulated in precise mathematical language, covering all relevant topics with such a depth of detail that readers are enabled to literally develop their own pricing and risk tools. Accompanying website with hundreds of real world examples June 2009 776pp 67 figures and 22 b/w tables Hardback £130.00 234x156mm 978-0-230-22215-1 'Its accessible style, coupled with excellent graphics and informed content, makes Global Custody a worthwhile read for insiders and novices alike.’ - Securities & Investment Review The global custody product was conceived out of changes to United States pension law. Today, service providers act for clients in many countries worldwide, handling assets across one hundred countries of investment. The range of services is ever more sophisticated. Measured by the value of assets held under custody, it is a multi trillion dollar industry. Contents: PART 1: AN INTRODUCTION TO CUSTODY AND CLEARING / A Brief History of Custody / Custody Today / Key Issues / Clearing and Settlement / PART 2: ASSET SERVICING / Asset Servicing Key Issues / Withholding Tax / OTC Derivatives / Trustee and Fund Accounting Services / Securies Financing and Lending / PART 3: MANAGING RISK / Vendor Landscape / Corporate Governance / Network Management / PART 4: TECHNOLOGY / Standards, Messaging and Mediation / PART 5: THE FUTURE / The Future December 2007 344pp Hardback £135.00 234x156mm 978-0-230-00700-0 ebook available from: Dawson ERA, Ebook Library, ebooks.com, Ebrary, Myilibrary, NetLibrary, Palgrave Connect Economics & Finance Collections Please use the following ISBN(s) to order all titles in the series: Hardback: 978-0-333-96273-2 Paperback: 978-0-230-57608-7 To view all titles in the series please visit: www.palgrave.com/fcm 14 Order securely online at www.palgrave.com or telephone +44 (0)1256 302866 FINANCIAL MANAGEMENT FINANCIAL MANAGEMENT Personal Investment Financial Planning in an Uncertain World Edited by Mariana Mazzucato, Jonquil Lowe, Alan Shipman and Andrew Trigg Strategic Performance Management A Managerial and Behavioural Approach Andre De Waal, Associate Professor of Management, Maastricht School of Management, The Netherlands Shipping Derivatives and Risk Management Amir H. Alizadeh, Director MSc Energy, Trade and Finance and Nikos K. Nomikos, both at Cass Business School, City University, UK 'The authors unlock the doors to the secrets of what every private investor should know - how to secure a more certain tomorrow by embracing the risks and perils of a less-thancertain world today. – David Kuo, Investment Expert, The Motley Fool, www.fool.co.uk This innovative new teaching text provides an introduction to personal investment in a world defined by uncertainty. With a focus on risk, socioeconomic change and the regulatory framework, and a wealth of international case studies, the book covers all the key issues that affect personal investment decisions and their ultimate success or failure. Contents: Themes in Personal Investment / Structure of the Book / PART ONE: PRODUCTS AND PLAYERS / From Saving to Investment / Investment Choices / PART TWO: STRATEGIES AND MARKETS / Risk-return Strategies / Markets and Players / PART THREE: BUBBLES AND THE ECONOMY / Economic Fluctuations / Bubbles and Investment Behaviour / PART FOUR: REGULATION AND THE LONG TERM / Regulating the Financial System / Investing for the Long Term March 2010 Paperback 448pp £36.99 246x189mm 978-0-230-24660-7 Strategic Performance Management provides students with the tools and understanding to evaluate how a business is performing. Grounded in the latest academic research, it integrates practical insights from current industry developments. This balanced mix of theory and practice is particularly attractive to MBA students. Contents: PART ONE: INTRODUCING STRATEGIC PERFORMANCE MANAGEMENT / Introduction / Strategic Performance Management / PART TWO: THE STRATEGIC PERFORMANCE MANAGEMENT DEVELOPMENT CYCLE / Designing a Strategic Management Model / Responsibility Structure / Scenarios and Strategic Objectives / Strategic Action Plans / Designing a Strategic Reporting Model / Balanced Scorecard / Exceptions, Actions and Rolling Forecasts / Performance Management ICT Architecture / Designing a Performance-Driven Behavioural Model / Organisational Performance-Driven Behaviour / Individual PerformanceDriven Behaviour / Strategic Alignment / PART THREE: IMPLEMENTING STRATEGIC PERFORMANCE MANAGEMENT / Implementation / PART FOUR: SPECIALS / Performance Management in the Public Sector / Performance Management in Developing Countries / Appendix October 2006 Paperback 432pp £32.99 234x156mm 978-1-4039-9884-2 ‘A thorough investigation of the fascinating shipping markets by experts in the field. A “must have” for practitioners and researchers in the commodity world.’ Helyette Geman, Director, Commodity Finance Centre, Birkbeck College, University of London and ESCP-EAP Acomprehensive book on shipping derivatives and risk management which covers the theoretical and practical aspects of financial risk in shipping. The book provides a thorough overview of the practice of risk management in shipping with the use of theoretical examples and real-life applications. Contents: Introduction to Risk Management and Derivatives / Introduction to Shipping Markets / Statistical Tools for Risk Analysis and Modelling / Freight Market Information / Forward Freight Agreement / Technical Analysis and Freight Trading Strategies / Options on Freight Rates / Pricing and Risk Management of Option Positions / Value-at-Risk in Shipping and Freight Risk Management / Financial and Interest Rate Risk Management in Shipping / Credit Risk Measurement and Management in Shipping / Ship Price Risk and Risk Management / Real Options and Optionalities in Shipping April 2009 Hardback 528pp £75.00 216x138mm 978-0-230-21591-7 Co-published with The Open University ebook available from: Dawson ERA, Ebook Library, ebooks.com, Ebrary, Myilibrary, NetLibrary, Palgrave Connect Economics & Finance Collections 1000s of scholarly ebooks available at www.palgraveconnect.com, ask your librarian to request a trial 15 FINANCIAL MANAGEMENT Money Makers Inside the New World of Finance and Business David Snider Associate Consultant, Bain & Company and Chris Howard, President’s Associates Presidential Professor, Vice President for Strategic and Leadership Initiatives; Director, Honors College Leadership Center, University of Oklahoma, USA and is a Rhodes Scholar Greed and Corporate Failure The Lessons from Recent Disasters Stewart Hamilton, Professor of Accounting and Finance, IMD, Switzerland and Alicia Micklethwait, Accountant and Writer Foreword by Sir David Tweedie The New International Money Game 7th edition Robert Z. Aliber, Professor of International Economics and Finance, University of Chicago Graduate School of Business, USA In the wake of global financial crisis the businesses driving our modern economy have changed. While elite fields of business and finance play a dominant role in the global economy, how they work remains a mystery to most outsiders. Money Makers reveals the selective and secretive industries of the private sector that drive the modern economy. Contents: Introduction / The Billionaire Borrowers: Private Equity and Leverage Buyouts / From ‘Gaga’ to Google - The Shepherds of Business from Infancy to Infamous: Venture Capital and Entrepreneurship / The Billion Dollar Brokers of Investment Banking / The Million Dollar Analysis of Management Consulting / Market Mavericks and Stock Market Wizards - The Secretive World of Hedge Funds / Leading the Big Guys that Make the Economy Move: The Management of Fortune 500 Companies / Conclusion March 2010 Hardback 256pp £18.99 234x156mm 978-0-230-61401-7 ‘Stewart Hamilton and Alicia Micklethwait have managed to produce a serious academic analysis as a rattling good read. Board rooms around the world should have this book as prescribed reading.’ - Sir Robert Smith, Chairman, Scottish and Southern Energy plc and The Weir Group plc April 2006 Hardback 224pp £29.00 234x156mm 978-1-4039-8636-8 The International Money Game has been fully rewritten to take account of changes in the world economy, it provides a comprehensive overview of international financial developments, including both the structure of payments arrangements and the series of credit and asset bubbles and the financial crises. June 2010 Hardback Paperback 376pp £75.00 £24.99 234x156mm 978-0-230-01894-5 978-0-230-01897-6 Choice Outstanding Academic Title 2006 ebook available from: Barnes & Noble, Inc., Dawson ERA, Ebook Library, ebooks.com, Myilibrary, NetLibrary, Palgrave Connect Business & Management Collections, Waterstone’s Financial Management 4th edition Geoffrey Knott, formerly Principal Lecturer in Accounting, Norwich City College, UK Manias, Panics and Crashes Kindleberger, Aliber, Manias, Panics and Crashes Manias, Panics and Crashes, Kindleberger, Aliber ebook available from: Dawson ERA, Ebook Library, ebooks.com, Ebrary, Myilibrary, NetLibrary, Waterstone’s A History of Financial Crises 5th edition Charles P. Kindleberger, formerly Ford Professor of Economics, Massachusetts Institute of Technology, USA and Robert Z. Aliber, Professor of International Economics and Finance, University of Chicago Graduate School of Business, USA 'Manias, Panics and Crashes is a scholarly account for the way that mismanagement of money and credit has led to financial explosions over the centuries.’ - Richard Lambert, Financial Times August 2005 Paperback 320pp £24.99 234x156mm 978-1-4039-3651-6 Financial Management is the ideal course text for business and management undergraduates and MBA students taking an introductory module in Financial Management. The concise yet thorough style of the book makes it highly accessible for students coming to the subject for the first time. April 2004 Paperback 384pp £34.99 246x189mm 978-1-4039-0382-2 16 Order securely online at www.palgrave.com or telephone +44 (0)1256 302866 FINANCIAL MANAGEMENT • INTERNATIONAL FINANCE Mastering Financial Management John Whiteley, Business Consultant and Writer INTERNATIONAL FINANCE The Global Crash Towards a New Global Financial Regime? Edited by Leila Simona Talani, Director of Studies, Master in European and International Politics and Master in Research, European Studies and Modern Languages Department, University of Bath, UK This book offers a unique blend of academic rigour and practical insight and uses examples and illustrations drawn from a wide range of real-life situations. Mastering Financial Management will help you to tease out meaning from company accounts, make your financial reports interesting and influential, manage budgets and motivate people to achieve targets, and much more. Ideal as a text for all students requiring an introduction to financial management and for business managers with no financial background. October 2003 Paperback 248pp £17.99 234x156mm 978-1-4039-1336-4 Introduction to International Economics 2nd edition Henk Jager, Professor of International Economics, University of Amsterdam, The Netherlands, Catrinus Jepma, Professor and Elise Kamphuis, both at University of Groningen, The Netherlands An accessible introduction to international economics for students from a non-economics background. Its European focus and emphasis on real world examples mean it is well suited to a business oriented approach with examples from a number of different sectors to help cement understanding of key concepts. Contents: Introduction / PART 1: INTERNATIONAL TRADE AND FACTOR MOBILITY / The World Economy: Key Data and Concepts / International Trade Theory / International Production Factors, Foreign Direct Investment and the Multinational Enterprise / PART 2: TRADE POLICY / Trade Policy: A Welfare Theory Analysis / Modern Arguments Relating to Protection / Trade Policy and Market Forms / The Practice of Protection / Business, Government and Lobbying / Economic Integration / PART 3: BALANCE OF PAYMENTS, EXCHANGE RATES AND INTERNATIONAL CAPITAL FLOWS / The Balance of Payments and the Foreign Exchange Market / International Capital Flows / The Exchange Rate Explained / Exchange Rate Systems and Effects / Intenational Risk: Types and Hedges / PART 4: THE INTERNATIONAL MONETARY SYSTEM / International Monetary Cooperation / Monetary Obstacles to Economic Development 1; A Debt Crisis / Monetary Obstacles to Economic Development 2: Currency Crises / Extremely Fixed Exchange Rates March 2011 384pp 44 figures and 48 tables Paperback £34.99 246x189mm 978-0-230-20241-2 This book provides a comprehensive interdisciplinary account of the events leading to the financial crisis, its institutional causes and consequences, its economic characteristics and its socio-political implications. It offers an in-depth assessment of the future of global financial stability. Contents: L.Talani: Introduction / P.Grauwe: The Banking Crisis: Causes, Consequences and Remedies / S.Collignon: The Moral Economy of Money and the Future of European Capitalism / E.Jones: Reconsidering the Role of Ideas in Times of Crisis / H.Plaschke: Challenging the Dollar in International Monetary Relations? The Lost Opportunities of the Euro / G.Fazio: Emerging Markets and the Global Financial Crisis / A.Cafruny: Europe in the Global Financial Crisis / L.Talani: The Impact of the Global Financial Crisis on the City of London: Will the UK Finally Decide to Join EMU? / M.Artis: The Global Financial Crisis and British Membership of the Euro: Time to Think Again! / L.Talani: Conclusions: Towards a New Global Financial Regime? May 2010 208pp 27 figures and 7 tables Hardback £60.00 216x138mm 978-0-230-24341-5 Palgrave Master Series (Business) Series Editor: Richard Pettinger Marketing Financial Serivices 2nd Edition Jillian Farquhar ,Reader in Marketing at the Business School, Oxford Brookes, University, UK and Authur Meidan, ,Professor of Marketing, Sheffield University Management Svhool, UK A comprehensive guide to decision making for students of Financial Services Marketing, or marketers working within the financial sector. The 2nd edition is fully comprehensively revised and updated, with a new structure and many new wellrelated chapters to the financial services market, reflecting changes in the sector and the availability of new technologies. June 2010 424pp 246x189mm 40 b/w tables, 30 diagrams, 10 b/w photos Paperback £35.99 978-230-20118-7 1000s of scholarly ebooks available at www.palgraveconnect.com, ask your librarian to request a trial 17 INTERNATIONAL FINANCE Understanding the Financial Crisis Investment, Risk and Governance Edited by Steen Thomsen, Dierctor, Centre for Corporate Governance, Caspar Rose and Ole Risager, Professor of Economics, all at Copenhagen Business School, Denmark Operational Control in Asset Management Processes and Costs Edited by Michael Pinedo, Stern School of Business , USA Growth and Value Creation in Asset Management Edited by Paul Verdin, Professor of Strategy and Organization, Solvay Business School, Belgium Presenting experience, research and thought leadership from experts in various disciplines (from INSEAD, Stern Business School, Deutsche Bank and Allianz among others), this book explores why the financial crisis happened and presents recommendations for the building of a new, sustainable financial system. Contents: List of Figures and Tables / L.B.Falkenberg: Foreword / O.Risager: Introduction: Macroeconomic Perspectives on the Financial Crisis: An Overview / PART I: REGULATION AND RISK MANAGEMENT / C.Rose: Overview: Regulation and Risk Governance / J.Hull: The Credit Crisis of 2007 and its Implications for Risk Management / D.Lando: Some Thoughts on the Role of Mathematical Models in Light of the Crisis / M.Schröter: Enterprise Architectures for Investment Managers from a Risk Management Perspective / PART II: REGULATION AND GOVERNANCE / S.Thomsen: Overview: Corporate Governance and the Financial Crisis / J.Dermine: Avoiding International Financial Crises: An Incomplete Reform Agenda / I.Walter: Reputational Risk and the Financial Crisis / R.Adams: Governance and the Financial Crisis / K.J.Nordgard: Governance, Risk and Compliance in the Financial Sector: An IT Perspective in Light of the Recent Financial Crisis / PART III: IN PRACTICE / C.Rose: Three Executive Interviews: Evidence from the Front Line of Investment Management April 2010 Paperback 232pp £39.99 240x170mm 978-87-993151-0-9 Leading academics and executives identify and discuss ways to reduce the level of costs in today’s investment management industry. Addresses such questions as: What role do costs play in the current market environment? What are the primary drivers of cost? How are costs reduced? Contents: List of Figures and Tables / L.B.Falkenberg: Foreword / M.Pinedo: Global Asset Management; An Introduction to its Processes and Costs / PART I: PERSPECTIVES FROM INDUSTRY / U.Alptuna, M.Hatzakis & Reha Tutuncu: A Best Practices Framework for Operational Infrastructure and Controls in Asset Management / A.Schneider: Managing Costs at Investment Management Firms / K.Arfelt: Lean Six Sigma in Asset Management / Management of Risk, Technology and Costs in a Multi-line Asset Management / J.Biggs: Business / M.Cruz: Strategic and Tactical Cost Management in the Asset Management Industry / K.J.Nordgard & L.Falkenberg: Cost-effectiveness in the Asset Management Industry: An IT Operations Perspective / PART II: PERSPECTIVES FROM ACADEMIA / D.Campbell & F.X.Frei: Cost Structure Patterns in the Asset Management Industry / Y.Amihud& H.Mendelson: Transaction Costs and Asset Management / A.Baruah, D.Mani& A.Whinston: Does Strategic Outsourcing Create Financial Value? / K.Dehnad: A Stitch in Time… April 2010 Paperback 224pp £39.99 240x170mm 978-87-993151-1-6 World-leading experts and specialists identify ways to enable growth in the investment management industry, post-crisis. Contributions by influential academics and executives collected in an edited volume, answering the most important questions facing the industry today on how to recover and grow after the meltdown. Contents: List of Figures and Tables / Foreword / Introduction / PART I / Overview / PART II / Overview / PART III June 2010 Paperback 232pp £39.99 240x170mm 978-87-993151-2-3 Published by SimCorp StrategyLab Published by SimCorp StrategyLab Published by SimCorp StrategyLab 18 Order securely online at www.palgrave.com or telephone +44 (0)1256 302866 INTERNATIONAL FINANCE An Introduction to Global Financial Markets 6th edition Stephen Valdez, formerly Financial Trainer and Consultant and former Director of Profile Financial Training Plc., and Philip Molyneux, Professor of Banking and Finance, Bangor Business School, Bangor University, UK African Finance in the 21st Century Edited by Marc Quintyn, Division Chief, Africa, IMF Institute and Geneviève Verdier, Economist, International Monetary Fund €uro Crash The Implications of Monetary Failure in Europe Brendan Brown, Director and Head of Research, Mitsuibishi (UFJ) Securities International plc., UK 'A book that no international banker or banking academic should miss if he/she wants to stay up-to-date on banking developments on a rapidly changing banking landscape worldwide.' - Alicia GarciaHerrero, Chief Economist for Emerging Markets, Economic Research, Banco Bilbao Vizcaya Argentaria, S.A. (BBVA), Hong Kong Branch This book describes the various financial sectors in clear, easy to understand terms. It provides a broad and balanced introduction to financial markets across the world and comprehensive coverage of commercial and investment banking, foreign exchange, money and bond markets, stock markets and derivatives products. Contents: Preface / Acknowledgements / PART I: INTRODUCTION / The Debt Merry-go-round / PART II: BANKING / Banking Background / The Role of the Central Bank / Commercial Banking / Investment Banking / PART III: SECURITIES MARKETS / The Money and Bond Markets / Stock Exchanges / Hedge Funds and Private Equity / Financial Crisis / PART IV: FOREIGN EXCHANGE AND EUROPEAN ECONOMIC AND MONETARY UNION / Foreign Exchange / European Economic and Monetary Union / PART V: DERIVATIVE PRODUCTS / Traded Options / Financial Futures / Other Derivative Products / PART VI: THE NEW TIGER ECONOMIES / The New Tiger Economies: China and India / PART VII: Trends in the Global Financial Markets / Key Trends / Glossary April 2010 528pp 50 b/w tables and 5 figures Paperback £29.99 234x156mm 978-0-230-24309-5 With contributions by experts from official agencies in Africa, international financial institutions, the private sector, and academia, this book focuses on financial sector development in Sub-Saharan Africa and how institutions can play a more active role in economic development. Contents: List of Tables of Figures / Notes on Contributors / L.Lipschitz: Foreword / M.Quintyn & G.Verdier: Introduction and Overview / PART I: FINANCE IN AFRICA - DEVELOPMENTS, DIAGNOSIS AND DETERMINANTS / S.Haber: The Finance-Growth Nexus: Theory, Evidence and Implications for Africa / P.Honohan: Finance in Africa: A Diagnosis / L.Kasekende: Developing a Sound Banking System / D.Ghura, R.J.Singh & R.Kpodar: Financial Deepening in the CFA Franc Zone: Role of Institutions / E.Aryeetey & A.Pokuaa Fenny: From Informal Finance to Formal Finance – Lessons from Linkage Efforts / L.Senbet & I.Otchere: Stock Markets in Africa / PART II: FINANCE IN AFRICA - POLICY ISSUES AND CASE STUDIES / I.Lukonga & S.Kal Wajid: Regulatory Frameworks in Sub-Saharan Africa: Ensuring Efficiency and Soundness / M.Quintyn & M.Taylor: Building Supervisory Structures in Africa – An Analytical Framework / J.Wakeman-Linn & S.Wagh: Regional Financial Integration as an Engine for Financial Development / J.Isern, E.Lahaye & A.Linthorst: Access to Finance in Africa – Consolidating the Positive Trends / N.Mylenko: Developing Credit Reporting in Africa: Opportunities and Challenges / E.Andrianasolo: Case Study on Microfinance Institutions in Madagascar: Policies for a Viable Sector / C.Rusagara: Financial Sector Development Program: The Case of Rwanda / Notes / Bibliography / Index December 2009 344pp 216x138mm 57 figures, 46 b/w tables and 4 illustrations Hardback £70.00 978-0-230-58050-3 'The majority of economic analysts, especially those in financial markets, follow governments, central banks and international institutions in trusting to largescale macroeconomic forecasts...Brendan Brown...belongs to the select band of commentators who prefer to derive their analysis from the market prices of key variables.’ - The Financial Times This sequel to the author’s earlier well-received Euro On Trial, shows how European Monetary Union became a main engine of the global credit bubble and puts forward a set of remedies which would reduce the danger of further economic debacle emanating from serious flaws in the present policy-making framework of the European Central Bank. March 2010 Hardback 224pp £60.00 216x138mm 978-0-230-22910-5 Finance for a Better World The Shift Toward Sustainability Edited by Henri-Claude de Bettignies, INSEAD and François Lépineux, Research Fellow, INSEAD andProfessor and Head, Centre for Responsible Business, ESC Rennes School of Business, France Published in association with the International Monetrary Fund What has prompted the shift toward sustainability in numerous financial areas? Can investors’ mindsets be changed to embrace a long-term view? Can shareholders and activists play a greater role in encouraging financial actors to behave more responsibly? These are some of the relevant topics that are explored in this forward-looking set of essays. April 2009 Hardback 280pp £65.00 216x138mm 978-0-230-55130-5 ebook available from: Dawson ERA, Ebook Library, ebooks.com, Ebrary, Myilibrary, NetLibrary, Palgrave Connect Economics & Finance Collections 1000s of scholarly ebooks available at www.palgraveconnect.com, ask your librarian to request a trial 19 INTERNATIONAL FINANCE • PUBLIC FINANCE International Finance 3rd edition Keith Pilbeam, Professor of International Economics and Finance, City University London, UK PUBLIC FINANCE Innovations in Financing Public Services Country Case Studies Edited by Stephen J. Bailey, Professor of Public Sector Economics, Glasgow Caledonian University, UK, Pekka Valkama, Head of Research and Adjunct Professor, Department of Economics and Accounting and AriVeikko Anttiroiko, Adjunct Professor, Department of Regional Studies, both at University of Tampere, Finland Portfolio and Risk Management for Central Banks and Sovereign Wealth Funds Edited by Joachim Coche, Senior Asset Management Specialist, Bank for International Settlements, Switzerland, Ken Nyholm, Senior Economist, European Central Bank, Germany and Gabriel Petre, Senior Investment Strategist, World Bank Treasury, The World Bank, USA International Finance is a well-established and internationally renowned introduction to the subject for both undergraduate and postgraduate students. It provides comprehensive coverage of both traditional and modern theories relating to the balance of payments, exchange rate determination and the international monetary system. There is extensive use of data and empirical evidence to illustrate the relevance of theories and concepts discussed. Contents: Introduction / PART 1: BALANCE OF PAYMENTS THEORY AND PRACTICE / PART 2: EXCHANGE RATE DETERMINATION: THEORY, EVIDENCE AND POLICY / PART 3: THE INTERNATIONAL MONETARY SYSTEM November 2005 528pp diagrams, tables and graphs Paperback £38.99 246x189mm 978-1-4039-4837-3 This book explores new forms of private, mutual municipal, public-private and ‘reverse’ state funding of public investments, co-payments and shared contributions, vouchers, and pooled public risk-financing. It includes case studies taken from the Nordic countries, UK, Spain, Slovenia, Slovakia, Turkey and South Korea. Contents: P.Valkama, A-V.Anttiroiko & S.J.Bailey: Innovative Public Finance: Definition, Practice and Context / D.Asenova, M.Beck & S.J.Bailey: Beyond PFI: Procurement of Public Sector Infrastructure and the Evolving Plurality of Methods in the UK / S-T.Kim: Innovations in Private Sector Provision of Infrastructure in South Korea / B.Acerete: The Distinctive Financing of Road Infrastructures in Spain: Evolution and Innovation / N.Hrovatin: Public Private Partnerships in Slovenia: Reverse Financial Innovations Enhancing the Public Role / N.Anderson, S.J.Bailey & H.Pautz: Local Government Funding Agencies: Lessons from Success and Failure / J.Hood, B.Stein & P.Valkama: Innovation in Local Government Risk Financing: Lessons from the UK and Nordic Experiences / M.Beblavý, P.Mederly & E.SičákováBeblavá: Innovations in Financing Higher Education in Slovakia / H.Kirmanoglu & P.Akkoyunlu: Innovation in the Turkish Budgetary System: Recent Developments in Public Governance / S.J.Bailey: Co-Payments: Innovations in the Balance between Public and Private Finance / P.Valkama, S.Bailey & I.C.Elliott: Vouchers as Innovative Funding of Public Services / I.C. Elliott, P.Valkama & S.J.Bailey: Public Service Vouchers in the UK and Finland July 2010 288pp 32 b/w tables and 29 figures Hardback £65.00 216x138mm 978-0-230-24159-6 This book contains original readings on Reserves Management for central banks and sovereign wealth funds. It aims to outline best practice in respect of strategic asset allocation, facilitating knowledge-sharing across organizations and encouraging collaboration and dialogue between reserves and asset management specialists in the organizations. October 2010 Hardback 256pp £65.00 216x138mm 978-0-230-27353-5 Consumer Credit in the United States A Sociological Perspective from the 19th Century to the Present Donncha Marron, Lecturer in Sociology, School of Applied Social Studies, Robert Gordon University, Aberdeen, UK Comparative Contract Law Cases, Materials and Exercises Thomas Kadner Graziano, Professeur Ordinaire, University of Geneva, Switzerland The object and scope of this book is the development of marketed consumer credit within the United States from the mid decades of the nineteenth century up until the present day. December 2009 288pp Hardback £55.00 216x138mm 978-0-230-61518-2 University of Exeter, UK September 2009 536pp Paperback £34.99 'If anyone still needs convincing that comparative private law is an exercise worth doing, they need look no further than this excellent and groundbreaking book.'- Andrew Tettenborn, Bracton Professor of Law, 246x171mm 978-0-230-57979-8 ebook available from: Palgrave Connect Social & Cultural Studies Collections 20 Order securely online at www.palgrave.com or telephone +44 (0)1256 302866 PUBLIC FINANCE • ACCOUNTING Public Finance and Public Policy 3rd edition Jonathan Gruber, Massachusetts Institute of Technology, USA Financing Social Policy Mobilizing Resources for Social Development Edited by Shea McClanahan, Research Analyst, Social Policy and Development Programme and Katja Hujo, Research Co-ordinator, Social Policy and Development Programme, United Nations Research Institute for Social Development (UNRISD), Switzerland ACCOUNTING IFRSs - A Visual Approach Structured Overviews of the IFRSs 4th edition Edited by KPMG Gruber’s Public Finance and Public Policy was the first text written to reflect current realities of public finance, with an emphasis on empirical work and coverage of transfer programs and social insurance. This new third edition contains fully updated research and new coverage of tax, health and the ongoing debate of privatization. Contents: PART I: BACKGROUND / Why Study Public Finance? / Theoretical Tools of Public Finance / Empirical Tools of Public Finance / Tools of Budget Analysis / PART II: EXTERNALITITES AND PUBLIC GOODS / Externalities: Problems and Solutions / Externalities in Action: Environmental and Health Externalities / Public Goods: Problems and Solutions / Cost/Benefit Analysis / Implementing Public Goods: Political Economy and Public Choice / State and Local Government Expenditures / Public Goods in Action: Education / PART III: SOCIAL INSURANCE AND REDISTRIBUTION / Social Insurance / Social Security / Unemployment Insurance, Workers’ Compensation and Disability Insurance / Health Insurance I: Health Economics and Private Health Insurance / Health Insurance II: Medicare and Medicaid / Income Distribution and Welfare / PART IV: TAXATION IN THEORY AND PRACTICE / Taxation in the U.S. and Around the World / The Equity Implications of Taxation - Tax Incidence / Tax Inefficiencies and Their Implications for Optimal Taxation / Taxes on Labour Supply / Taxation of Savings / Taxes on Risk Taking and Wealth / Issues of Corporate Taxation / Tax Reform October 2010 Hardback 700pp £60.00 11x8mm 978-1-4292-1949-5 Moving beyond the ‘post-Washington consensus’, this book shifts the focus of development policy debates away from expenditures and austerity and towards revenues and resources. The book explores the potential and the developmental impact of different categories of resources for financing social policy in a development context. October 2009 400pp 62 b/w tables and 24 figures Hardback £70.00 234x156mm 978-0-230-57664-3 Social Policy in a Development Context ebook available from: Palgrave Connect Economics & Finance Collections Based on the International Financial Reporting Standards (IFRSs) issued by the International Accounting Standards Board (IASB) in January 2010, this provides a simplified summary of the main elements - using diagrams for each of the Standards to help the reader visualize the key decisions and choices their application requires. Contents: Preface / List of Abbreviations / PART I: INTRODUCTION / PART II: THE INTERNATIONAL FINANCIAL REPORTING STANDARDS Economic Sanctions Law and Public Policy Kern Alexander, Judge Business School, UK September 2010 224pp Hardback £30.00 234x156mm 978-0-230-27566-9 Published by Worth Publishers parties and individuals. April 2009 Hardback 384pp £70.00 Economic sanctions are increasingly important instruments of regulatory and foreign policy. This book provides a detailed study of the post-9/11 financial sanctions programmes in the US and Europe, examining the key regulatory and legal issues that confront businesses and related liability issues for third 216x138mm 978-0-230-52555-9 ebook available from: Palgrave Connect Economics & Finance Collections 1000s of scholarly ebooks available at www.palgraveconnect.com, ask your librarian to request a trial 21 ACCOUNTING HIGHLIGHT St. James’s Place Tax Guide 2010–2011 39th edition Walter Sinclair, Tax Specialist and Writer and E. Barry Lipkin, Tax Trust and Litigation Specialist Preface Sir Mark Weinberg Reviews of previous editions*: ‘The bestselling tax guide is back and it’s as authoritative as ever...gives practical guidance on tax issues, which would benefit both students and professionals alike.’ - Accounting Technician ‘No other manual compares...the complete A-Z on Tax.’ - The Times 'The best book ever written on taxation.’ - The Daily Telegraph 'Acknowledged among consumers and professionals alike as the best book on the subject.’ - The Independent 'Provides a complete guide to UK taxation...includes clear examples and explanations, tables and a glossary, with all items fully referenced and indexed for ease of use.’ - Tax Journal *Including editions of the book prior to it being published as the St. James’s Place Tax Guide St James’s Place Tax Guide 2009–2010 Walter Sinclair, Tax Specialist and Writer and E. Barry Lipkin Tax Trust and Litigation Specialist August 2009 Hardback 448pp £34.99 216x138mm 978-0-230-57345-1 ebook available from: Palgrave Connect Economics & Finance Collections Business Accounting An Introduction to Financial and Management Accounting Jill Collis, Senior Lecturer in Accounting, Faculty of Business and Law, Kingston University, UK and Roger Hussey, Dean, Odette School of Business, University of Windsor, Canada The 39th annual edition of the leading guide to taxation in Britain. This practical and user-friendly guide is a bestseller with students, professionals, accountants and private individuals, explaining in simple terms how the UK tax system works and how best to minimise tax liabilities. Contents: Sir M.Weinberg: Preface / Abbreviations / Introduction / This Year’s Tax Changes / The Basis of Your Tax Liability / Personal Reliefs / Annual Payments and Interest / Computing Your Income Tax Bill / Husband, Wife, Civil Partners and Children / Income from Land and Property / Income from Dividends and Interest / Life Assurance / Income from Employments and PAYE / Income from Businesses and Professions / Partnerships / Companies / Pensions / Miscellaneous Aspects / Returns, Assessments and Repayment Claims / Domicile and Residence / Tax on Foreign Income / Non-residents, Visitors and Immigrants / Capital Gains Tax / The Taxation of Trusts and Estates / Inheritance Tax / An Outline of VAT / Stamp Duty / Social Security / Tax Saving Hints / Tax Tables / Glossary / Index August 2010 tables and boxes Hardback 448pp £34.99 216x138mm 978-0-230-57346-8 Business Accounting covers financial and management accounting in a non-technical style, particularly suitable for non-specialist undergraduate and postgraduate students. The active-learning approach seeks to convey an understanding of the subjectivity inherent in accounting and the ability to evaluate financial information. August 2006 Paperback 400pp £31.99 246x189mm 978-1-4039-4886-1 Order your copy now at a special pre-publication price of just £21.99* plus P&P, please visit: www.palgrave.com/taxguide and enter WTAX2010a at the checkout. *Special offer price of £21.99 available until 31/07/2010. Price thereafter £34.99. 22 Order securely online at www.palgrave.com or telephone +44 (0)1256 302866 ACCOUNTING • REFERENCE Mastering Accounting Skills 3rd edition Margaret Nicholson, RSA Chief Examiner for Book-keeping and Accounting, and NVQ External Verifier REFERENCE HIGHLIGHT The Palgrave Macmillan Dictionary of Finance, Investment and Banking Erik Banks, Head of Risk Management, UniCredit, Germany The Palgrave Macmillan Dictionary of Finance, Investment and Banking helps you understand and use financial language with more ease and confidence. Compiled by a finance professional with real-world experience on three continents, it is a highly practical reference book containing the essential terminology of today’s international financial marketplace. It gives concise and clear definitions of well over 5,000 terms commonly used in the industry, covering the disciplines of accounting, banking, corporate finance, investment management and insurance. The dictionary includes: • New terminology, reflecting developments following the global financial crisis • ‘Hot topics’ of Islamic finance, bank regulation, carbon/emissions trading, business law/bankruptcy and structured products • International coverage, with terminology used in Europe, Asia and the USA • Technical and non-technical terms, colloquialisms, acronyms and foreign language terms • 190 essential formulae and 50 diagrams to aid understanding Contents: Acknowledgements / The Author / Summary of Colloquialisms, Foreign Terms, and Acronyms / Introduction / Numeric / Entries A-Z / Selected References December 2009 600 pp 48 figures and 21 b/w tables Hardback £25.00 234x156mm 978-0-230-23829-9 Mastering Accounting Skills is a clear explanatory text designed for beginners with no prior knowledge or experience of the discipline. Step-bystep illustrations enable students to gain a real understanding of the principles and procedures of Book-keeping and Accounting. July 2006 Paperback 456pp £17.99 234x156mm 978-1-4039-9270-3 Palgrave Master Series Key Concepts in Accounting and Finance Jonathan Sutherland and Diane Canwell, both Fulltime Writers, UK Key Concepts in Accounting and Finance is one of a range of comprehensive glossaries with entries arranged alphabetically for easy reference. All major concepts, terms, theories and theorists are incorporated and cross-referenced. Additional reading and Internet research opportunities are identified. More complex terminology is made clearer with numerous diagrams and illustrations. With almost 600 key terms defined, the book represents a comprehensive must-have reference for anyone studying a business-related course or those simply wishing to understand what accounting and finance is all about. It will be especially useful as a revision aid. March 2004 272pp diagrams and illustrations Paperback £14.99 216x138mm 978-1-4039-1532-0 Palgrave Key Concepts 1000s of scholarly ebooks available at www.palgraveconnect.com, ask your librarian to request a trial 23 REFERENCE • TEACHING, LEARNING & RESEARCH IN HIGHER EDUCATION The New Palgrave Dictionary of Economics 2nd edition, print and online Edited by Steven N. Durlauf, University of Wisconsin at Madison, USA and Lawrence Blume, Cornell University, USA TEACHING, LEARNING & RESEARCH IN HIGHER EDUCATION UNIVERSITIES INTO THE 21ST CENTURY Series Editor: Noel Entwistle Teaching for Understanding at University Deep Approaches and Distinctive Ways of Thinking Noel Entwistle, Professor Emeritus, Department of Higher and Further Education, University of Edinburgh, UK Palgrave Macmillan’s second edition of The New Palgrave Dictionary of Economics is the definitive scholarly reference work for a new generation of economists. Expanded from four to eight volumes, the print version contains 1,872 articles by 1,506 well-known economists, including Milton Friedman, Amartya Sen, George J. Stigler, Kenneth Arrow, James Tobin and Joseph E. Stiglitz. The online version allows full, concurrent remote access to members of subscribing institutions, is updated regularly with specially commissioned content and tools, offers excellent search and browse facilities. If you are interested in the online edition of the Dictionary of Economics for your institution, you can choose between the traditional annual subscription model and the new perpetual access model which entitles your institution to continuous access for a single one-off payment. May 2008 Print: Online Version: Hardback Price: 7680pp 246 x 189 mm 978-0-333-78676-5 978-0-333-78676-9 £1760.00 Becoming An Academic Lynn McAlpine, McGill University, Canada and Gerlese Akerlind, Australian National University, Australia This book draws on research in Australia, Canada, UK, and US into the experiences of doctoral students, postdoctoral researchers and new academics. Each chapter develops researchinformed implications for policy and practice to support developing academics, and concludes with commentaries by early career academics, developers and administrators. September 2010 208pp 2 b/w tables and 3 charts Paperback £21.99 216x138mm 978-0-230-22791-0 This book brings together a range of research findings and professional experience about the effects of teaching on the quality of learning at university, encouraging university teachers to think broadly and imaginatively about approaches to teaching in their own area to help students develop deep, personal understandings of the subject. July 2009 224pp 234x156mm 29 b/w tables and 12 b/w line drawings Paperback £20.99 978-0-333-96298-5 Understanding the International Student Experience Catherine Montgomery, Associate Director for Research, Centre for Excellence in Teaching and Learning, Northumbria University, UK Online: Prices calculated according to your institution’s FTE and available upon request. Please email
[email protected] for more details Visit www.dictionaryofeconomics.com for more information, to view a demo and find out the latest updates Presents a contemporary approach to the experience of international students in Higher Education. Using empirical and qualitative data, the book explores their social and cultural context and its impact on their learning experience. January 2010 2 b/w tables Paperback 184pp £22.99 216x138mm 978-1-4039-8619-1 24 Order securely online at www.palgrave.com or telephone +44 (0)1256 302866 TEACHING, LEARNING & RESEARCH IN HIGHER EDUCATION • OFFICE FOR NATIONAL STATISTICS OFFICE FOR NATIONAL STATISTICS Economic & Labour Market Review Office for National Statistics Global Inequalities and Higher Education Whose interests are we serving? Elaine Unterhalter, Professor of Education and International Development and Vincent Carpentier, Senior Lecturer in History of Education, both at Institute of Education, University of London, UK United Kingdom Balance of Payments 2010 The Pink Book Office for National Statistics 'This is an exciting and pioneering project, with up-to-date content that has been pitched appropriately. As a result, there are very few competitors.’ - Keith Holmes, Sussex School of Education, UK June 2010 336pp 6 graphs and 7 b/w tables Paperback £22.99 216x138mm 978-0-230-22351-6 The Pink Book provides detailed estimates of the UK Balance of Payments for the last eleven years, including estimates for the current account, the capital account, the financial account and the International Investment Position. It also includes a geographical breakdown of the current account by country. August 2010 Paperback 170pp £55.00 297x210mm 978-0-230-24377-4 An essential resource for all users of UK economic and labour market statistics, Economic & Labour Market Review (ELMR) draws together the expert research, analysis and range of content found in Economic Trends and Labour Market Trends to build an up-to-date, comprehensive and unique statistical picture of the UK economy and labour market. With impartial commentary and analysis and intelligently illustrated with tables, charts and diagrams, ELMR provides readers with an independent, cohesive view of the state of the economy, including the labour market, and gives them an insight into how the statistics behind the analysis are produced and interpreted. Visit www.palgrave-journals.com/elmr/ for more information. ISSN: 1751-8326 2010 Volume 4 Published Monthly Annual Subscription: £232.00 United Kingdom National Accounts 2010 The Blue Book Office for National Statistics Please use the following ISBN(s) to order all titles in this series: Hardback: 978-0-230-54497-0 Paperback: 978-0-230-54498-7 The Blue Book provides detailed estimates of national product, income and expenditure for the UK. It covers value added by industry, full accounts by sector and capital formation. This key annual title also includes annual figures for preliminary, provisional and full quarterly estimates of national accounts. August 2010 Paperback 280pp £55.00 297x210mm 978-0-230-24378-1 1000s of scholarly ebooks available at www.palgraveconnect.com, ask your librarian to request a trial 25 OFFICE FOR NATIONAL STATISTICS Financial Statistics Office for National Statistics Financial Statistics is a monetary compendium of the UK's key financial and monetary statistics. Published monthly, it contains data on public sector finance, including central government revenue and expenditure, money supply and credit, banks and building societies, interest and exchange rates, financial accounts, capital issues, balance sheets and balance of payments. Visit www.palgrave-journals.com/fs/ for more information. ISSN: 0015-203X 2010 Volume 573-584 Published Monthly Annual Subscription: £404.00 United Kingdom Economic Accounts Office for National Statistics United Kingdom Economic Accounts (UKEA) provides detailed estimates of national product, income and expenditure for the United Kingdom. A key source of data on the economy, UKEA also contains tables showing the main aggregates of Gross Domestic Product (GDP) and Balance of Payments (BoP), plus Income and Capital Account, Financial Accounts and Financial Balance Sheets by sector. Visit www.palgrave-journals.com/ukea/ for more information. ISSN: 1350-4401 2010 Volumes 68-71 Published Quarterly Annual Subscription: £114.00 26 Order securely online at www.palgrave.com or telephone +44 (0)1256 302866 Finance Journals from Palgrave Macmillan Get stuck in to Palgrave journals online Essential access to high quality research Visit www.palgrave-journals.com LEFT HEADER Palgrave Connect: Economics & Finance Collections Palgrave Connect offers institutions a flexible approach to building an ebook collection in the Humanities, the Social Sciences and Business. With over 5000 ebooks available in collections organized by year of publication and by discipline, Palgrave Connect brings together our rich backlist and new titles to offer libraries exceptional range and quality of research in digital format. Palgrave Connect’s Economics & Finance Collections offer access to over 600 scholarly ebooks. With nine Collections available from 2000–2010, lecturers, researchers and students benefit from instant access a broad range of quality scholarship from key names in the field. KEY SERIES IN THIS AREA INCLUDE: - Finance and Capital Markets Series - Palgrave Macmillan Studies in Banking and Financial Institutions - International Economic Association Series BENEFITS FOR YOUR LIBRARY A wider range of content – significantly broader access to quality scholarship from Palgrave Macmillan High visibility – Palgrave Connect ebooks can be fully integrated into your library catalogue Simultaneous DRM-free access - simultaneous DRM-free access is available for unlimited users via IP recognition, secure URL and password, or Athens Perpetual rights to all purchased content BENEFITS FOR YOUR LIBRARY COMMUNITY Remote access - Palgrave Connect’s ebook content is available to members of subscribing institutions outside library opening hours, on the move, at home or at their desk Powerful search and browse capabilities - The Palgrave Connect platform offers a wide range of search options including full-text, keyword, title, author, ISBN, publication date and subject area To learn more about Palgrave Connect please visit www.palgraveconnect.com and view our short guided demonstration. 281000s of scholarly ebooks available at www.palgraveconnect.com, ask your librarian to(0)1256 302866 Order securely online at www.palgrave.com or telephone +44 request a trial INDEX A African Finance in the 21st Century Quintyn Verdier 19 Alexander Economic Sanctions 21 Aliber The New International Money Game 16 Aliber Zoega Preludes to the Icelandic Financial Crisis 2 Alizadeh Nomikos Shipping Derivatives and Risk Management 15 Amato Doria Fantacci Money and Calculation 9 Anatomy of a Financial Crisis Jarsulic 12 Applied Econometrics Asteriou Hall 9 Asteriou Hall Applied Econometrics 9 The British Insurance Industry Since 1900 Carter Brown €uro Crash Business Accounting Collis Hussey Business Statistics Taylor 3 19 22 10 Currency Internationalization: Global Experiences and Implications for the Renminbi Peng Shu 6 D D’Apice Ferri Financial Instability 6 Dark Pools Banks 13 Das Financial Globalization 11 David Laidler’s Contributions to Economics Leeson 9 Davis Banking in Turmoil 8 de Bettignies Lépineux Finance for a Better World 19 De Waal Strategic Performance Management 15 Derivatives and Internal Models Deutsch 14 Determinants of Financial Development Huang 11 Deutsch Derivatives and Internal Models 14 Durlauf Blume The New Palgrave Dictionary of Economics 24 C Capital Market Instruments Choudhry Joannas Landuyt Pereira Pienaar 13 Capitalism Without Capital Chorafas 4 Capitalism Without Capital Chorafas 4 Carter The British Insurance Industry Since 1900 3 Central Bank Independence, Accountability, and Transparency Laurens Arnone Segalotto 7 Central Bank Reserves and Sovereign Wealth Management Berkelaar Coche Nyholm 7 Chorafas Capitalism Without Capital 4 Chorafas Capitalism Without Capital 4 Chorafas Financial Boom and Gloom 4 Choudhry Joannas Landuyt Pereira Pienaar Capital Market Instruments 13 Coche Nyholm Petre Portfolio and Risk Management for Central Banks and Sovereign Wealth Funds 20 Collis Hussey Business Accounting 22 Comparative Contract Law Kadner Graziano 20 Consolidation in the European Financial Industry Bottiglia Gualandri Mazzocco 5 Consumer Credit in the United States Marron 20 Consumer Culture and Personal Finance Botterill 11 Cooperative Banking in Europe: Case Studies Boscia Carretta Schwizer 4 Corporate and Social Transformation of Money and Banking Mouatt Adams 2 Crisis: Cause, Containment and Cure Huertas 11 B Bailey Valkama Anttiroiko Innovations in Financing Public Services 20 Banking in Turmoil Davis 8 Banks Dark Pools 13 Banks Risk and Financial Catastrophe 13 Banks The Palgrave Macmillan Dictionary of Finance, Investment and Banking 23 Becoming An Academic McAlpine Akerlind 24 Bellofiore German Monetary Theory Revisited 9 Berkelaar Coche Nyholm Central Bank Reserves and Sovereign Wealth Management 7 Berkelaar Coche Nyholm Interest Rate Models, Asset Allocation and Quantitative Techniques for Central Banks and Sovereign Wealth Funds 7 Boscia Carretta Schwizer Cooperative Banking in Europe: Case Studies 4 Botterill Consumer Culture and Personal Finance 11 Bottiglia Gualandri Mazzocco Consolidation in the European Financial Industry 5 E Economic & Labour Marketing Review Office for National Statistics 25 Economic Sanctions Alexander 21 Edwards Hamson Towers Guide to Mathematical Modelling 7 Entwistle Teaching for Understanding at University 24 Essential Quantitative Methods Oakshott 10 EU Payments Integration Wandhöfer 3 €uro Crash Brown 19 F Finance & Financial Markets Pilbeam Finance for a Better World de Bettignies Lépineux Financial Boom and Gloom Chorafas Financial Globalization Das 12 19 4 11 1000s of scholarly ebooks available at www.palgraveconnect.com, ask your librarian to request a trial 29 INDEX Financial Instability D’Apice Ferri 6 Financial Institutions and Markets Kaufman Bliss 11 Financial Management Knott 16 Financial Markets and Organizational Technologies Kyrtsis 5 Financial Statistics Office for National Statistics 26 Financing Social Policy McClanahan Hujo 21 Finlay The Management of Consumer Credit 2 Fiordelisi Mergers and Acquisitions in European Banking 4 Fiordelisi Molyneux Previati New Issues in Financial and Credit Markets 3 Fiordelisi Molyneux Previati New Issues in Financial Institutions Management 3 Hieronymi Globalization and the Reform of the International Banking and Monetary System 5 Huang Determinants of Financial Development 11 Huertas Crisis: Cause, Containment and Cure 11 Kyrtsis Financial Markets and Organizational Technologies 5 L Laurens Arnone Segalotto Central Bank Independence, Accountability, and Transparency Leeson David Laidler’s Contributions to Economics 7 9 I IFRSs - A Visual Approach KPMG 21 Innovations in Financing Public Services Bailey Valkama Anttiroiko 20 Interest Rate Models, Asset Allocation and Quantitative Techniques for Central Banks and Sovereign Wealth Funds Berkelaar Coche Nyholm 7 International Finance Pilbeam 20 An Introduction to Global Financial Markets Valdez Molyneux 19 Introduction to International Economics Jager Jepma Kamphuis 17 M The Management of Consumer Credit Finlay2 Manias, Panics and Crashes Kindleberger Aliber 16 Marron Consumer Credit in the United States 20 Mastering Accounting Skills Nicholson 23 Mastering Financial Management Whiteley 17 Mastering Financial Services Whiteley 17 Mazzucato Lowe Shipman Trigg Personal Investment 15 McAlpine Akerlind Becoming An Academic 24 McClanahan Hujo Financing Social Policy 21 McGill Patel Global Custody and Clearing Services 14 Mergers and Acquisitions in European Banking Fiordelisi 4 Mikdashi Progress-Driven Entrepreneurs, Private Equity Finance and Regulatory Issues 12 Money and Calculation Amato Doria Fantacci 9 Money Makers Snider Howard 16 Montgomery Understanding the International Student Experience 24 Mouatt Adams Corporate and Social Transformation of Money and Banking 2 G German Monetary Theory Revisited Bellofiore 9 The Global Crash Talani 17 Global Custody and Clearing Services McGill Patel 14 Global Inequalities and Higher Education Unterhalter Carpentier 25 Globalization and the Reform of the International Banking and Monetary System Hieronymi 5 Greed and Corporate Failure Hamilton Micklethwait 16 Growth and Value Creation in Asset Management Verdin 18 Gruber Public Finance and Public Policy 21 Guide to Mathematical Modelling Edwards H Hamson Towers 7 J Jager Jepma Kamphuis Introduction to International Economics Jarsulic Anatomy of a Financial Crisis Jowett Private Equity 17 12 10 K Kadner Graziano Comparative Contract Law 20 Kaufman Bliss Financial Institutions and Markets 11 Key Concepts in Accounting and Finance Sutherland Canwell 23 Kindleberger Aliber Manias, Panics and Crashes 16 Klonowski The Venture Capital Investment Process 11 Knott Financial Management 16 KPMG IFRSs - A Visual Approach 21 H Hamilton Micklethwait Greed and Corporate Failure 16 30 Order securely online at www.palgrave.com or telephone +44 (0)1256 302866 INDEX N The New International Money Game Aliber16 New Issues in Financial and Credit Markets Fiordelisi Molyneux Previati 3 New Issues in Financial Institutions Management Fiordelisi Molyneux Previati 3 The New Palgrave Dictionary of Economics Durlauf Blume 24 Nicholson Mastering Accounting Skills 23 Portfolio and Risk Management for Central Banks and Sovereign Wealth Funds Coche Nyholm Petre 20 Preludes to the Icelandic Financial Crisis Aliber Zoega 2 A Primer for Unit Root Testing Patterson 9 Private Equity Jowett 10 Progress-Driven Entrepreneurs, Private Equity Finance and Regulatory Issues Mikdashi 12 Public Finance and Public Policy Gruber 21 T Talani The Global Crash Taylor Business Statistics Teaching for Understanding at University Entwistle Thomsen Rose Risager Understanding the Financial Crisis 17 10 24 18 U Understanding the Financial Crisis Thomsen Rose Risager 18 Understanding the International Student Experience Montgomery 24 United Kingdom Balance of Payments 2010 Office for National Statistics 25 United Kingdom Economic Accounts Office for National Statistics 26 United Kingdom National Accounts 2010 Office for National Statistics 25 Unterhalter Carpentier Global Inequalities and Higher Education 25 O Oakshott Essential Quantitative Methods 10 Office for National Statistics Economic & Labour Market Review 25 Office for National Statistics Financial Statistics 26 Office for National Statistics United Kingdom Balance of Payments 2010 25 Office for National Statistics United Kingdom Economic Accounts 26 Office for National Statistics United Kingdom National Accounts 2010 25 Ögren The Swedish Financial Revolution 6 Operational Control in Asset Management Pinedo 18 Q Quintyn Verdier African Finance in the 21st Century 19 Read The Rise and Fall of an Economic Empire 8 The Rise and Fall of an Economic Empire Read 8 Risk and Financial Catastrophe Banks 13 Rogers Strategy, Value and Risk 14 S Shipping Derivatives and Risk Management Alizadeh Nomikos 15 Sinclair Lipkin St James’s Place Tax Guide 2009-2010 22 Sinclair Lipkin St James’s Place Tax Guide 2010-2011 22 Snider Howard Money Makers 16 St. James’s Place Tax Guide 2009-2010 Sinclair Lipkin 22 St. James’s Place Tax Guide 2010-2011 Sinclair Lipkin 22 Strategic Performance Management De Waal 15 Strategy, Value and Risk Rogers 14 Sutherland Canwell Key Concepts in Accounting and Finance 23 The Swedish Financial Revolution Ögren 6 V Valdez Molyneux An Introduction to Global Financial Markets 19 The Venture Capital Investment Process Klonowski 11 Verdin Growth and Value Creation in Asset Management 18 P The Palgrave Macmillan Dictionary of Finance, Investment and Banking Banks 23 Patterson A Primer for Unit Root Testing 9 Peng Shu Currency Internationalization: Global Experiences and Implications for the Renminbi 6 Personal Investment Mazzucato Lowe Shipman Trigg 15 Pilbeam Finance & Financial Markets 12 Pilbeam International Finance 20 Pinedo Operational Control in Asset Management 18 W Wandhöfer EU Payments Integration 3 Whiteley Mastering Financial Management 17 Whiteley Mastering Financial Services 17 1000s of scholarly ebooks available at www.palgraveconnect.com, ask your librarian to request a trial 31 WORLDWIDE SERVICES UK & EUROPE UNITED KINGDOM Clare Mence Tel: +44 (0)1256 329242 Fax: +44 (0)1256 330688 Email:
[email protected] SWEDEN Steven Haslemere Tel: +44 (0)1223 504328 Email:
[email protected] ASIA HONG KONG, PHILIPPINES, THAILAND, VIETNAM & INDONESIA Palgrave Macmillan Tel: +852 2811 7176 Fax: + 852 2811 0743 Email:
[email protected] MIDDLE EAST ALL AREAS NOT LISTED Middle Eastern Department Tel: +44 (0)1256 329242 Fax: +44 (0)1256 330688 Email:
[email protected] LATIN AMERICA & CARIBBEAN Palgrave Macmillan Limited Tel: +44 (0)1256 329242 Fax: +44 (0)1256 330688 Email: Latin America:
[email protected] Caribbean:
[email protected] UK DIRECT ORDERS Tel: +44(0)1256 302866 Fax:+44(0)1256 330688 Email:
[email protected] IRAN Sepehr Bookshop Tel: (+9821) 88943846/88944061 Fax: (+9821)88935975 Email:
[email protected] KOREA Macmillan Publishers Tel: +82-2-723-8422~3 Fax: +82-2-723-8424 Email:
[email protected] UK LECTURER ORDERS Tel: +44(0)1256 302794 Fax: +44(0)1256 330688 Email:
[email protected] COLOMBIA GRUPO K-T-DRA Ltda Tel: +2570895/2187629 Fax: +2187629 Email:
[email protected] UK TRADE ORDERS TAIWAN Macmillan Education Tel: +886 2 2388 3208 Fax: +886 2 2375 6882 Email:
[email protected]. Tel: +44(0)0256 302692 Fax: +44(0)1256 812558 Email:
[email protected] NORTH AMERICA USA & CANADA Palgrave Macmillan Tel: +1 800 221 7945 Fax: +1 212 777 6359 W. H. FREEMAN & COMPANY; WORTH PUBLISHERS; SINAUER ASSOCIATES, INC.; UNIVERSITY SCIENCE BOOKS; AND BEDFORD ST MARTIN’S Palgrave Macmillan is the distributor for W. H. Freeman & Company, Worth Publishers, Sinauer Associates, Inc. and University Science Books and for selected Bedford St. Martin’s titles in the UK. Titles from W. H. Freeman & Company and Worth Publishers are distributed by Palgrave Macmillan in all areas outside the UK, except USA, Canada, Australia and New Zealand. Titles from Sinauer Associates, Inc. are distributed in all areas except USA, Canada, Australia, Bangladesh, Brunei, Burma, Cambodia, Hong Kong, Indonesia, Laos, Malaysia, New Zealand, Singapore, Taiwan, Thailand, The Philippines, and Vietnam. Titles from University Science Books are distributed in all areas except USA, Canada, Australia, New Zealand, Japan and Mexico. The Bedford St. Martin’s titles distributed by Palgrave Macmillan in the UK are also distributed in all other territories except North America. UK PRESS ENQUIRIES Email:
[email protected] SINGAPORE & BRUNEI Pansing Distribution Pte Ltd Tel +65 6319 9939 Fax +65 6459 4930 Email:
[email protected] EUROPE (EXCEPT AREAS LISTED) European Department - Jo Waller Tel: +44 (0)1256 302735 Fax: + 44 (0)1256 330688 Email:
[email protected] AUSTRALASIA AUSTRALIA Palgrave Macmillan Australia Tel: +61(0)3 9825 1111 Fax: +61(0)3 9825 1010 Email:
[email protected] MALAYSIA UBSD DISTRIBUTION SDN. BHD. Tel: +603 80763042 Fax: +603 80763142 Email:
[email protected] CENTRAL & EASTERN EUROPE Jacek Lewinson Tel./fax: +48 22 6283956 Mobile: +48 (0)502603290 Email:
[email protected] AUSTRIA & GERMANY Katrin Lilienthal Tel: +49 (0)69 61992411 Fax: +49 (0)69 61992412 Email:
[email protected] NEW ZEALAND Macmillan New Zealand Tel: +64 09 414 0350 Fax: +64 09 414 0351 Email:
[email protected] CHINA Macmillan Ltd Tel: +86 (10) 8881 1358 Fax: +86 (10) 8881 1359 Email:
[email protected] JAPAN Palgrave Macmillan Limited Tel: +44 (0)1256 329242 Fax: +44 (0)1256 330688 Email:
[email protected] ITALY & FRANCE David Pickering Mare-Nostrum Tel: +39 348 3183884 UK Mobile: +44 798 6559391 AFRICA ALL AREAS NOT LISTED Palgrave Macmillan Limited Tel: +44 (0)1256 329242 Fax: +44 (0)1256 330688 Email:
[email protected] INDIA Kalpana Shukla Sunil Sharma Jagat Bahadur Tel: +91 11 2324 4186 Tel/Fax: +91 11 2327 2010 Email: Kalpana Shukla:
[email protected] Email: Jagat Bahadur:
[email protected] V. Ravi Tel: 91 44 24962217 Mobile: 09840486745 Email:
[email protected] Anand Vithalkar Tel/Fax: +91 22 26605844 Email:
[email protected] Mobile: +91 98202 83677 Ajit De Tel/Fax: +91 33 25321263 Email:
[email protected] Mobile +91 98310 87661 DENMARK, NORWAY, FINLAND & ICELAND Ben Greig Tel: +44 1223 565052 Mobile: +44 785 4961315 Email:
[email protected] SOUTHERN AFRICA Including Botswana, Lesotho and Swaziland Cory Voigt Tel: +00 27 11 731 3300 Fax: +27 11 731 3569 Email:
[email protected] GREECE & CYPRUS Zitsa Seraphimidi Tel: +210 5245 798 Fax: +210 9816816 Mobile: + 0030 6944 441184 Email:
[email protected] KENYA Macmillan Kenya (Publishers) Ltd Tel:+254 20 6766962/3 Fax:+254 20 201583 E.mail:
[email protected] NETHERLANDS, BELGIUM & LUXEMBOURG Daan Timmermans Tel: + 31 (0)650614101 Email:
[email protected] NIGERIA Macmillan Nigeria Tel: +234 1 774 5892/ 00 234 1 496 1188 Fax: +234 1 493 2135/2133 Email:
[email protected] SPAIN Trinidad Lopez Tel/Fax: +34 91 3528349 Email:
[email protected] PAKISTAN Book Bird Tel: +92 42 636 7275 Fax: +92 42 636 1370 Email:
[email protected] New Finance Highlights... General Interest/ Reference 978-0-230-23829-9 978-0-230-27566-9 Page 8 Page 23 Page 21 978-0-230-57346-8 978-0-230-27370-2 Page 22 £25.00 Hardback £25.00 Hardback £30.00 Hardback £34.99 Hardback Policy/ Professional 978-0-230-23618-9 £65.00 Hardback £65.00 Hardback £60.00 Hardback 978-0-230-22910-5 978-0-230-24811-3 978-0-230-23571-7 Page 6 Page 11 Page 8 Page 19 £60.00 Hardback Essential Series 978-0-230-23530-4 £65.00 £65.00 Hardback Hardback Palgrave Macmillan Studies in Banking and Financial Institutions 978-0-230-23810-7 978-0-230-27810-3 Page 5 Page 3 Page 13 978-0-230-57731-2 Page 13 £130.00 Hardback £130.00 Hardback Finance and Capital Markets Series Order today, visit: www.palgrave.com/finance CATALOGUE ISBN: 978-0-230-55079-7 The Study Skills Handbook is the UK’s bestselling Study Skills guide from the No.1 Study Skills publisher ‘Brilliant book - essential for any undergraduate’ – Jenny Fisher, Manchester Metropolitan University, UK The bestselling study skills author, Stella Cottrell, brings you the leading Study Skills guide, The Study Skills Handbook. This no-nonsense, practical guide is the only study skills book to cover all the core skills, and helps students maximize their potential during their time at university. Paperback • £12.99 • 978-0-230-57305-5 www.skills4study.com