现代金融理论文选

作者简介

《全国财经本科专业规划教材:现代金融理论文选(英文版)》分为12章。第1章介绍了货币与金融机构；第2章介绍金融中介理论；第3章介绍了金融监管；第4章介绍了金融创新；第5章介绍了金融发展理论；第6章介绍了货币需求；第7章介绍了货币供给；第8章介绍了中央银行及其独立性问题；第9章介绍了中央银行最后贷款人问题；第10章介绍了货币政策传导机制；第11章介绍了货币政策效应；第12章简要介绍了现代投资理论。《全国财经本科专业规划教材:现代金融理论文选(英文版)》适用于高等学校金融专业及其他财经类专业高年级本科生和研究生的教学，也可供金融实际业务部门从业人员和其他有兴趣的读者使用。

书籍目录

Unit 1 Money and Financial Institution Section 1 Concepts Section 2 Reading Materials Section 3 Theories Section 4 Supplementary Readings Unit 2 Financial Intermediary Section 1 Introduction Section 2 Reading Materials Section 3 Theories Section 4 Supplementary Readings Unit 3 Financial Regulation Section 1 Concepts Section 2 Reading Materials Section 3 Theories Section 4 Supplementary Readings Unit 4 Financial Innovation Section 1 Concepts Section 2 Reading Materials Section 3 Theories Section 4 Supplementary Readings Unit 5 Financial Development and Economic Growth Section 1 Concepts Section 2 Reading Materials Section 3 Theories Section 4 Supplementary Readings Unit 6 Money Demand Section 1 Concepts Section 2 Reading Materials Section 3 Theories Section 4 Supplementary Readings Unit 7 Money Supply Section 1 Concepts Section 2 Reading Materials Section 3 Theories Section 4 Supplementary Readings Unit 8 Central Bank Section 1 Concepts Section 2 Reading Materials Section 3 Theories Section 4 Supplementary Readings Unit 9 The Central Bank as the Lender—of—Last—Resort Section 1 Concepts Section 2 Reading Materials Section 3 Theories Section 4 Supplementary Readings Unit 10 Transmission Channels of Monetary Policy Section 1 Concepts Section 2 Reading Materials Section 3 Theories Section 4 Supplementary Readings Unit 11 Monetary Policy Effect Section 1 Concepts Section 2 Reading Materials Section 3 Theories Section 4 Supplementary Readings Unit 12 Evolution of the Investment Theories Section 1 Concepts Section 2 Reading Materials Section 3 Theories Section 4 Supplementary Readings

编辑推荐

《全国财经本科专业规划教材:现代金融理论文选(英文版)》具有以下特点：第一，《全国财经本科专业规划教材:现代金融理论文选(英文版)》在内容上力图深入浅出，为财经类本科高年级学生和研究生在基础专业英语和金融理论之间构建必要的阶梯。每一章的阅读材料既有取自金融经济类报刊上的通俗读物，也有国外相关领域的最新成果。第二，《全国财经本科专业规划教材:现代金融理论文选(英文版)》在结构上遵循循序渐进的原则，每一章都先介绍主要术语，再通过阅读材料帮助学生了解该领域的一般情况，引出该领域主要理论，然后通过理论材料辅助学生了解研究，最后提供若干习题。

章节摘录

版权页：   Banking was already well established in the British Empire when Adam Smith came along in 1776 with his " invisible hand" theory. Empowered by his views of a self-regulated economy, moneylenders and bankers managed to limit the state's involvement in the banking sector and the economy as a whole. This free market capitalism and competitive banking found fertile ground in the New World, where the United States of America was getting ready to emerge. In the beginning, Smith's ideas did not benefit the American banking industry. The average life for an American bank was five years, after which most bank notes from the defaulted banks became worthless. These state-chartered banks could, after all, only issue bank notes against gold and silver coins they had in reserve. A bank robbery meant a lot more before, than it does now, in the age of deposit insurance and the Federal Deposit Insurance Corporation-FDIC. Compounding these risks was the cyclical cash crunch in America. Alexander Hamilton, the secretary of the Treasury, established a national bank that would accept member bank notes at par, thus floating banks through difficult times. This national bank, after a few stops, starts, cancellations and resurrections, created a uniform national currency and set up a system by which national banks backed their notes by purchasing Treasury securities, thus creating a liquid market. Through the imposition of taxes on the relatively lawless state banks, the national banks pushed out the competition. The damage had been done already, however, as average Americans had already grown to distrust banks and bankers in general. This feeling would lead the state of Texas to actually outlaw bankers, law that stood until 1904. Merchant Banks Most of the economic duties that would have been handled by the national banking system, addition to regular banking business like loans and corporate finance, fell into the hands of large merchants banks, because the national banking system was so sporadic. During this period of unrest that lasted until the 1920s, these merchant banks parlayed their international connections into both political and financial power. These banks included Goldman and Sachs, Kuhn, Loeb, and J. P. Morgan and Company.Originally, they relied heavily on commissions from foreign bond sales from Europe,with a small backflow of American bonds trading in Europe. This allowed them to build up their capital. At that time, a bank was under no legal obligation to disclose its capital reserve amount, an indication of its ability to survive large, above-average loan losses. This mysterious practice meant that a bank's reputation and history mattered more than anything. While upstart banks came and went, these family-held merchant banks had long histories of successful transactions. As large industry emerged and created the need for corporate finance, the amounts of capital required could not be provided by any one bank, so IPOs and bond offerings to the public became the only way to raise the needed capital.

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