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Asian Currency Crisis, 1999.
Examines the causes and effects. Discusses devaluation, historic bank failures and the impact on international banking, as well as currency exposure risks. Includes tables.
2,475 words (approx. 9.9 pages), 9 sources, £ 61.95
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Abstract
"This paper is an examination of the Southeast Asia currency crisis in general and its relationship to, and possible impact on, the field of international banking (The BCCI affair..., 1992, Online; Haq, 1998).
From the Paper
"This paper is an examination of the Southeast Asia currency crisis in general and its relationship to, and possible impact on, the field of international banking (The BCCI affair..., 1992, Online; Haq, 1998). One of the primary topics to be discussed is the fact that as a business and practice, an international bank has the primary goal of measuring an economy's performance and the stability of its currency so that investors can identify investment opportunities and thereby make value-added business decisions (Tamburini, 1997, 32).
Another topic addressed in this paper will be to explain and examine the reasons for the fluctuations in currency values, most of which are caused by a phenomenon caused by the currency exchange rate. Simply defined, this means the value comparison..."
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International Financial Reporting, 2005.
This paper explains that many factors, such as history, politics, differential currency types, ease of conversion and regulations of various international banking institutions, prevent full harmonization of international financial reporting.
3,445 words (approx. 13.8 pages), 3 sources, MLA, £ 68.95
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Abstract
This paper explains the history of the inter-relationship of political and economic changes that effect today's problem of harmonization of currency and reporting such as (1) competing economic policy objectives similar to today's problems with oil, (2) the Janus-faced nature of international capital flows and (3) the changing center of influence of the international system from the United Kingdom and toward the United States. The author points out that the new ISO engineering standards represent a model for standardizing accounting and reporting processes not only by solving the problems of harmonizing the accounting and reporting process but also by offering an open-ended approach, easily adaptable to even the smallest of enterprises. The paper stresses that this need for global standardization means that the mundane "bean-counters" of the past must be replace by today's global accountants trained in several disciplines.
Table of Contents
Thesis Statement
The Powerful Influence of History
The Gold Standard
The Rise and Dilemmas of Bimetallism
The Development of the International Monetary Systems between WWI and WW II
The Bretton Woods System and its Problems
The Harmonization of the British Pound, U.S. Dollar and the European Common Currency
The Future Outlook from an ISO Point of View
From the Paper
"Between the wars, the United States overtook Britain as the leading player in the commercial and the financial domains. However, America's foreign financial and commercial relations did not yet fit together in a way that produced a harmoniously working international system. Moreover, with even today's technological edge America is finding the attainment of harmonization a difficult task at best. Great Britain likewise struggles with several issues in this area. Hence, when postwar planners again contemplated the reconstruction of the international system, they sought a framework capable of accommodating these changed conditions. The solutions to the problems are not at all straightforward and thus the pronounced lack of harmonization of accounting and reporting."
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International Debt Crisis, 1990.
This paper examines the international debt crisis: Origins, less developed countries, U.S. indebtedness, banks, International Monetary Fund, conditionality, stabilization process, trade, currency, investments and future. Tables.
3,600 words (approx. 14.4 pages), 12 sources, £ 90.95
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From the Paper
"This research examines the international debt crisis. International debt is the external debt owed by a country--either a country's government or entities within that country.
An external deficit develops for a country when the claims of foreign entities on the country's economy exceed the claims of entities in that country on the economies of other countries. A country's external debt is comprised of loans to both government and private sector organizations in the country. Loans to government entities involve sovereign risk, while loans to all other entities involve enterprise risk.
Loans involved in a country's external debt are extended by other governments, by international organizations (primarily the International Monetary Fund (IMF) and The World Bank), and by ... "
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International Accounting, 2005.
This paper explains the function of accounting as international business continues to grow rapidly.
3,305 words (approx. 13.2 pages), 11 sources, MLA, £ 66.95
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Abstract
This paper explains that international trade is complicated by the various currencies which are used in the world's marketplace, because, whenever an entity buys from a foreign supplier or sells goods to a foreign customer, the parties involved must agree on the currency to be used to settle the transaction. The author points out that the biggest problem is the inability to "interpret" financial statements from foreign countries properly because the standards in each country vary and they cannot be merely equated with domestic standards and regulations. The paper relates that, to attempt to maintain a semblance of order and understanding, there has been a constant effort, especially since the formation of the International Accounting Standards Committee (IASC) in 1973, to establish a harmonious "language" and set of standards, which would cover all the nations involved in the economies of the globe.
Table of Contents
Overview
The Needs and Opportunities for International Harmonization
G-22
IOSCO
Conclusions
From the Paper
"Given the differences and the need to develop a harmonious system of accounting standards, why is it not happening, at a time when joint ventures and buy-outs by the wealthier nations of industries in the hard-hit lands (Thailand and Mailaysia) This question can be asked again and again, and different versions may appear in this essay, but no one has an adequate answer. It is not asking a total revolutionary upheaval of financial or accounting practices. Still, many national accounting associations want to be the one making some sort of "sacrifice", It is a source of national pride, rather than a globalizing opportunity. However, there are groups, made up of international financial and accounting leaders, who want to make at least some progress."
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Hard and Soft Currencies, 2006.
A review of the characteristics and attributes of hard and soft currencies.
675 words (approx. 2.7 pages), 3 sources, £ 18.95
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Abstract
This document discusses the characteristics and attributes of hard and soft currencies. The paper identifies hard currencies as positive investment targets and are typically associated with stable economies and politically stable markets. The paper further discusses how soft currencies are most often associated with emerging markets and are typically avoided by investors because of their negative practices such as issuers often pegging such soft currencies to hard currencies which serves to destabilize world currency markets.
From the Paper
"Hard and soft currencies as well as knowledge of them are vital in the global economy. How international currencies interact is a strategic consideration for corporate bodies with operations in more than one area, country, or region in matters such as hedging for risk or in repatriating revenues. A hard currency is typically referred to as the currency of a leading economy and one that is widely accepted in all markets as a common form of payment, such as the U.S. dollar, the Swiss franc or the British pound (Carrada-Bravo, 2003, p.17). Additionally, hard currencies, or currencies classified as hard in character are especially liquid on foreign exchange markets where they are actively traded. Another perspective of hard currencies is that they are normally associated with politically, economically, and socially stable countries (Laulajainen, 2003, p.44)."
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International Risk Management, 2004.
An analysis of financial risk management, with a focus on international markets.
939 words (approx. 3.8 pages), 3 sources, MLA, £ 23.95
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Abstract
This paper highlights key aspects of minimizing risk and maximizing profits, yet still engaging in fruitful and dynamic financial transactions. The paper contends that to minimize risk in financial markets on an international level, cooperation that crosses borders between business entities, is necessary. The paper explains that because of the obscure nature of the factors affecting currency exchange rates, in the form of politics, international economic business entities with mutual interests in financial stability must work together to minimize their own mutual risks regarding exchange rates, loans and currency values. The paper assesses that this is done by freely allowing for differentials in rates and disclosing all known information about their country's, company's and currency's financial health.
From the Paper
"No profit was ever made without taking some financial risk. However, economists such as John Eatwell and Lance Taylor have argued in their text Global Finance at Risk: The Case for International Regulation that international financial markets are intrinsically and particularly apt to pose the threat of risk to potential investors on an individual and a corporate level. Investors in finance base their decisions on guesses, not only about how other investors within a nation will behave, but also about national stability, which affects the stability of the currency. As markets have grown more global in scope, industrialized countries often have pursued a more cautious monetary policy regarding other nations."
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Hard and Soft Currencies, 2005.
Explains what hard and soft currencies are and discusses how the two types of currencies differ.
1,125 words (approx. 4.5 pages), 4 sources, APA, £ 27.95
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Abstract
This paper examines hard and soft currencies. It provides a definition and practical examples of both. The paper addresses the issue of convertibility, as well as the options sellers have relating to hedging.
From the Paper
"A hard currency is a freely convertible currency that is not expected to depreciate significantly in value in the foreseeable future. A hard currency is considered to be stable meaning that it is not subject to dramatic variations in its value relative to other currencies expressed as changes in its exchange rate. As a general rule, demand for hard currency in foreign exchange markets is high because of it stability. A soft currency often is a currency that is not fully convertible to all currencies..."
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Hard and Soft Currencies, 2005.
A brief definition of hard and soft currencies.
951 words (approx. 3.8 pages), 5 sources, MLA, £ 23.95
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Abstract
This paper explains what is meant by hard and soft currencies and then examines the countries in which these currencies are used. It explains that a soft currency is a less pejorative name for a weak or unstable currency. A hard currency is usually the major means of monetary exchange in a highly industrialized country, such as the United States, Japan, or the United Kingdom.
From the Paper
"In a land of hard currency, such as Japan, Rodgers noted as he traveled, "there are no currency forms, no black markets, no devaluation or convertibility worries," unlike traveling in a developing nation, or establishing a financial contract between a hard currency and a soft currency nation. "There is nothing quite like a sound currency" because of its security," for both the tourist and the company seeking investment opportunities. (Rodgers, 2001) Even cheaper labor costs cannot always compensate for the added risk. And for dealers on the currency market, a strong stomach is required when trafficking in soft currencies. Rodgers admits that although, Japan seemed at first "almost dull compared to" Eastern Europe, Rodgers there was something to praised in the relief he felt, even though it lacked the investment thrill or high, when exchanging more of his dollars for yen as opposed to soft money. The black market presence, the sense that one could never know how much one might be worth from day to day was harrowing as a tourist, difficult as a personal investment seeker, and for a company dealing in millions, is often too much potential grief to bear, whatever the potential in profit."
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International Finance, 2008.
This paper looks at international finance and discusses national reserves.
1,117 words (approx. 4.5 pages), 4 sources, APA, £ 27.95
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Abstract
In this article, the writer looks at the central bank, which is one of the most important institutions in a country and whose main responsibility is the national monetary policy. The writer notes that many countries can improve the efficiency of their foreign currency reserve by investing the money and generating a return. The writer also points out that, on a global level, the increased efficiency of a central bank's use of reserve would translate into a reduction of financial crises, which would allow institutions such as the International Monetary Fund to redirect its funds to countries that are not yet capable to reach financial stability as well as design policies for those countries targeting their future stability. The writer notes that these are usually third world countries or developing countries with endemic corruption and political instability.
Outline:
The Central Bank - Roles
Reserves Policy - Evidence from Developing Countries
Central Banks and Foreign Currency Reserve Policy Efficiency
From the Paper
"A healthy reserve policy can overcome financial crises, such as those related to the country's balance sheet. Korea stands as a good example in this direction with its 1997 crisis. Investment banks started to borrowed short maturity foreign currencies and invested them in Korean won assets after the market deregulation in 1990. The same banks invested in foreign securities Russian bonds and by the end of 1997 the value of these obligations exceeded Korea's foreign currency reserves. In the context of a general fall of Asian currencies, the investors started to sell the Korean won, which eventually devaluated the national currency and forced the authorities to resort to the International Monetary Fund. The problem was not that Korean wasn't solvent, but that it wasn't liquid and this crisis could have been avoided, if the authorities hadn't let the national liquidity deteriorate so much since the beginning of 1990s."
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International Banking and Finance, 2008.
A discussion of issues related to international finance.
1,315 words (approx. 5.3 pages), 10 sources, APA, £ 31.95
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Abstract
This document discusses several questions related to international banking and finance. Some of the issues discussed are related to the character of the global economy and how its financial mechanisms are now interconnected. Additionally, some of the developments related to globalization are examined. And finally, the various aspects of the Asian and Mexican currency crises are examined with a view to the global financial markets that enabled them.
Table of Contents:
Abstract
Consolidation of Financial Markets
Outsourcing and Offshoring
The Asian and Mexican Financial Crises
From the Paper
"In the same way that the Asian financial crisis played out in individual markets such as South Korea, the Mexican currency crisis also began during a period when there was actually much promising economic outlook. During the 1980s the Mexican government liberalized its trade sectors and during the early 1990s had brought its inflation under control to below 10% which was good for that market. With these and other economic reforms beginning to take effect in the country, Mexico's economic prospects appeared strong."
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International Debt Crisis, 2001.
This paper examines the real reasons behind the debt crisis faced by developing countries, focusing on the structural reasons for their continuing debt before turning to possible solutions.
2,950 words (approx. 11.8 pages), 12 sources, MLA, £ 61.95
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Abstract
Reasons for international debt are discussed with examples brought from Mexico and Brazil, oil exporters and oil importers; debt rescheduling; debt relief and first-world aid; the International Monetary Fund and the affect the IMF has had on poor countries. The two major methods of international reserve creation: the mining of gold and the acquisition of reserves in the form of key currencies are discussed along with their problems. Recent structural adjustment and debt relief are also examined, as well as the inability of poorer countries to pay their scheduled debt service and the Heavily Indebted Poor Countries Initiative and its problems. This leads to a discussion of macro-economic adjustment.
From the Paper
"The current climate of recession has highlighted the reasons for raising the calls for poor country debt relief. It is difficult to believe claims made by creditors that they cannot afford further debt relief. Canceling effectively unpayable debts owed by the poorest countries may turn out to be a sensible policy for all creditors. As well as the strong moral argument for debt relief, there could be sound financial grounds for doing so to stimulate the global economy and promote growth."
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International Currencies, 2005.
This paper discusses hard and soft currencies
1,125 words (approx. 4.5 pages), 3 sources, APA, £ 27.95
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Abstract
This paper describes hard and soft currencies . The author clarifies the way they are used in global financing operations. The paper stresses their importance in managing risk.
From the Paper
"A working definition of a hard currency is a freely convertible currency that is not expected to depreciate in value in the foreseeable future, meaning that it is a relatively stable currency not normally subject tn dramatic variations or fluctuations in the exchange rate. Another definition would be that a hard currency is a currency traded in a foreign exchange market for which demand is consistently and persistently high. In contrast, we could define a soft currency as a currency that is not fully ..."
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International Financial Markets - Investment and Speculation, 2002.
A discussion on what investors today want to see on a global basis, how markets reflect discounts from their highs and stock purchases in highly discounted markets as an overall strategy.
2,190 words (approx. 8.8 pages), 8 sources, APA, £ 48.95
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Abstract
An examination of the many factors investors in global stock markets will have to consider in the next millennium, including whether the value of their shares is driven by the rational estimation of future corporate earnings or whether mass psychology and speculative mania drive the value of their investments. The writer contends that in either case, factors of risk, globalization, currency, regulation and trade will come into play, either in consideration of their effects on social factors, or in the possible or probable profitability of any stock or stock market in an increasingly international environment.
From the Paper
?As monetary, political, trade and other restrictions are eased in countries all over the world, more investors find themselves able to contemplate maximizing their returns in international financial markets or on foreign companies listed on domestic exchanges ? the capital markets have become global; currently, more than 300 companies from fifty countries trade their shares on the NYSE, and are worth about ten percent of the market value of U.S. equities (International Monetary Fund, 1999).Growth in foreign trade and financial activities has rapidly led to closer integration of financial markets around the world. Deregulation, privatization and liberalization has led to an increasing number of markets, banks and brokerage firms, and increased the volume of asset exchange and ownership on a global scale. Facilitated by technology allowing for real-time trading all over the world, globalization of financial and trade markets has been a source of economic growth and prosperity for investors, countries and corporate entities in even the remotest developing areas.?
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Currency Derivatives Operations, 2006.
This well-researched paper explores the currency derivatives trade which is an indispensable element of the international economic system.
2,955 words (approx. 11.8 pages), 10 sources, APA, £ 61.95
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Abstract
This paper defines derivatives as financial instruments such as options, futures, forwards and swaps that are derived from their underlying currencies. The returns on derivatives are tied to yields of these underlying securities and currencies. This paper details the essential role the derivatives market plays in the global economy in countries such as Asia, Germany and Switzerland, in which these economies reap substantial growth rates due to these financial practices. The writer contends that with the presence of this market the financial condition of business entities are stabilized and secure from the possibility of hedge currency risks. The derivatives market also decreases the amplitude in the fluctuation of spot prices and promotes optimal funds placing. The writer stresses the importance in the implementation and development of the currency derivatives market as a necessary prerequisite for the growth of international trade volume, expansion of foreign investment and for the general development of economy.
Table of Contents:
Abstract
Currency Derivatives Operations in the World Economy
References
From the Paper
"Derivatives market in Ukraine was operating from 1994 to 1998. Unfortunately, its work was far beneath the world standards. From the very beginning the Ukrainian market was developing as an exchange market, despite the fact that the world derivatives development gained the incentive to growth from over-the-counter form of these instruments. Hedgers, a category of market subjects, almost did not participate in the activity of Ukrainian currency exchanges, and the absence of hedgers makes the market non-balanced and not liquid. Moreover, the world financial crisis of 1997 caused the collapse in currency markets. The National Bank of Ukraine made a decision to hold up and later to abolish the functioning of currency derivatives in Ukraine. We would like to underline that despite the crisis in the Russian market, the operations with currency derivatives were not stopped, but continued to develop."
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