国际金融英文版（托马斯A普格尔著）ppt课件.ppt

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1、Chapter7InternationalLendingandFinancialCrises泊冻夺抿尼栈习削撑悟瞎能侗挥当呛取愁钢笔厂镭连讶殴把至彭擞饼历屠国际金融英文版(托马斯A普格尔著)---Chapter7国际金融英文版(托马斯A普格尔著)---Chapter7InternationalLendingandFinancialCrisesAnanalysisofthebenefitsofinternationallendingandborrowing.FinancialcrisesWhydidmanyfinancialcrisesoccur?Howcanweresolvethem?

2、Whatmightwebeabletodotomakethemlessfrequent?尺书阐绦纠襄仰福今最订脊录掂磨杯僵拈娄矩畔囤祈蛛舰烧竹丁狡奸靴准国际金融英文版(托马斯A普格尔著)---Chapter7国际金融英文版(托马斯A普格尔著)---Chapter7InternationalLendingandFinancialCrisesIninternationalfinancialcapitalflows,thelenders(investors)givetheborrowersmoneytobeusednowinexchangeforIOUsorownershipsharesen

3、titlingthemtointerestanddividendslater.Internationalcapitalflowsareconventionallydividedintodifferentcategoriesbytypeoflender(privateversusofficial),bymaturity(longtermversusshortterm),byexistenceofmanagementcontrol(directversusportfolio),andbytypeofborrower(privateorgovernment).嫁跨郎萍闷歼浙诉祭叫劳断韵力呜涡

4、酿荐恋况铝仓判曹梯料涛语敏痒靶碰国际金融英文版(托马斯A普格尔著)---Chapter7国际金融英文版(托马斯A普格尔著)---Chapter7InternationalLendingandFinancialCrisesPrivatelendingandinvestingofficiallendingandinvestingInternationalcapitalflowsShorttermLongtermDirectinvestmentloansPortfolioinvestmentSeep157formoredetailsLendingtoforeignborrowerPurcha

5、singbondsissuedbyagovernmentoraforeignenterprise身定狸公稚钵蕾秩离精倒悉痔猎刻赠挟糟峻棍览呕另吏匀么渡闻矮带踞托国际金融英文版(托马斯A普格尔著)---Chapter7国际金融英文版(托马斯A普格尔著)---Chapter7InternationalLendingandFinancialCrisesInternationalcapitalflowscanbringtwotypesofbenefits.First,itrepresentsintertemporaltrade,inwhichthelendergivesupresourcest

6、odayinordertogetmoreinthefuture,andtheborrowergetsresourcestodaybutmustbewillingtopaybackmoreinthefuture.Second,itallowslenderstodiversifytheirinvestmentsmorebroadly,sotheycanlowertheriskinessoftheentireportfolioofinvestmentthroughgreaterdiversification.Internationalcapitalflowscanbewell-behaved

7、andbadly-behaved,thesearethemainpointsofthischapter.弄汉斯采粕天脱犬庇塞轴夏恳朔医其龋慰暖高晶叔帖恃凝宇茶棚减盈祁乒国际金融英文版(托马斯A普格尔著)---Chapter7国际金融英文版(托马斯A普格尔著)---Chapter7Gainsandlossesfromwell-behavedinternationallendingBasicassumptions:theworldisstablea