The United Kingdom financial system in transition: theory and practice
Gespeichert in:
| Hauptverfasser: | , |
|---|---|
| Format: | Buch |
| Sprache: | English |
| Veröffentlicht: |
Manchester u.a.
Manchester Univ. Press
1992
|
| Schlagworte: | |
| Online-Zugang: | Inhaltsverzeichnis |
| Beschreibung: | VII, 312 S. graph. Darst. |
| ISBN: | 0719030285 |
Internformat
MARC
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Datensatz im Suchindex
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|---|---|
| adam_text | The United Kingdom
financial system in transition
Theory and practice
M Buckle and J L Thompson
Manchester University Press
Manchester and New York
Distributed exclusively in the USA and Canada by i t Martin s Press
Contents
Preface viii
1 Introduction to the financial system 1
1 1 Introduction 1
1 2 The role of the financial system 1
1 3 Financial claims 4
1 4 Sectoral analysis of the financial system 12
1 5 National wealth 13
1 6 Sector balance sheets 14
1 7 Sectoral flow of funds 18
1 8 Flow of funds accounts for the UK economy 23
1 9 Conclusion 29
2 Financial intermediation 30
2 1 Introduction 30
2 2 Financial intermediation A 30
2 3 Features of financial intermediation 34
2 4 Rationale for the existence of financial intermediaries 37
2 5 Evolution of financial systems 40
2 6 Recent developments in the UK financial system 42
2 7 Market structure and financial innovation 49
2 8 Conclusion 52
3 Retail banking 53
3 1 Introduction 53
IV
3 2 Nature of retail banking in the UK 53
3 3 Payments services 56
3 4 Risks in retail banking 58
3 5 The role of the Bank of England 62
3 6 Conclusion 66
4 Wholesale and international banking 67
4 1 Introduction 67
4 2 Nature of wholesale banking 67
4 3 Off-balance sheet business 73
4 4 International banking 79
4 5 Sovereign lending crisis 86
4 6 Conclusion 94
5 Other deposit-taking institutions 95 *
5 1 Introduction 95
5 2 History of the building society movement 96
5 3 Competitive pressures on building societies 98
5 4 Consequences of the competitive pressures 103
5 5 After the Act 106
5 6 The balance sheet of building societies 108
5 7 The finance houses 110
5 8 Conclusion 111
6 Investment institutions 113
6 1 Introduction 113
6 2 Types of investment institutions 113
6 3 General insurance 114
6 4 Nature of the liabilities of pension funds and life assurance
companies 115
6 5 Portfolio investment of pension funds and life assurance
companies 119
6 6 Unit trusts and investment trusts 124
6 7 The performance of institutional investors 127
6 8 Conclusion 128
7 Financial markets: introduction 130
7 1 London as an international financial centre 130
Stcdt-« Univ -Bibl
Pfnnlffurt nm Moifl
Contents v
7 2 The nature of markets 134
7 3 Hedging, speculation and arbitrage 135
7 4 The efficient markets hypothesis 136
8 The market for equities 139
8 1 Introduction 139
8 2 The primary market 139
8 3 The secondary market for private securities 146
8 4 The stock exchange and the efficient markets hypothesis 154
9 Interest rates and the bond market 157
9 1 Introduction 157
9 2 The level of interest rates 159
9 3 The market for gilt-edged securities: new issues 161
9 4 The market for gilt-edged securities: the secondary market 164
9 5 The expectations theory of the term structure 165
9 6 The preferred market habitat theory of the term structure 170
9 7 The market segmentation theory of the term structure 171
9 8 Empirical evidence 171
10 The sterling money markets 174
10 1 Introduction 174
10 2 The traditional discount market 176
10 3 The parallel sterling money markets 179
10 4 Short-term interest rates and inflation 183
11 The foreign exchange market 185
11 1 Introduction 185
11 2 Nature of the forex h 186
11 3 Nature of business 188
11 4 The efficiency of the foreign exchange market 189
12 Euro-securities markets 193
12 1 Introduction 193
12 2 Eurobonds 193
12 3 Euronotes 199
12 4 Euro-equities 201
12 5 Use of swaps in Euro-securities markets 202
vi Contents
12 6 Securitisation 204
12 7 Conclusion 206
13 Financial futures and options 207
13 1 Introduction 207
13 2 The organisation of LIFFE 209
13 3 The nature of financial futures 212
13 4 The nature of options 217
13 5 The efficiency of futures markets 221
13 6 Conclusion 223
14 Managing risk via the financial markets 224
14 1 Introduction 224
14 2 Nature of risk J 227
14 3 Managing exchange rate risk: internal methods 229
14 4 Managing exchange rate risk: external methods 231
14 5 Managing interest rate risk 242
14 6 Conclusion 244
15 The single European market in financial services and
economic and monetary union 245
15 1 Introduction 245
15 2 A single European market in financial services 246
15 3 Likely effects of the liberalisation of EC financial services 248
15 4 European economic and monetary union 250
15 5 Conclusion 258
16 The efficiency of the UK financial system 259
16 1 Introduction 259
16 2 Efficiency of the financial system 260
16 3 Short termism 266
16 4 An alternative explanation of short termism 269
16 5 Remedies for short termism 270
16 6 Conclusion 272
17 Regulation of the financial system 273
17 1 Introduction 273
17 2 The UK system of prudential control of banks 281
Contents vii
Control of investment business
Conclusion
Appendix
Conclusions
Nature of the UK financial system
The financial system and monetary policy
Glossary
References
Index
|
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| spelling | Buckle, Michael J. 1958- Verfasser (DE-588)130324922 aut The United Kingdom financial system in transition theory and practice M. Buckle and J. L. Thompson Manchester u.a. Manchester Univ. Press 1992 VII, 312 S. graph. Darst. txt rdacontent n rdamedia nc rdacarrier Finances - Grande-Bretagne ram Geldwezen gtt Institutions financières - Grande-Bretagne ram Finance Great Britain Finanzwirtschaft (DE-588)4017214-4 gnd rswk-swf Kreditwesen (DE-588)4032950-1 gnd rswk-swf Großbritannien Großbritannien (DE-588)4022153-2 gnd rswk-swf Großbritannien (DE-588)4022153-2 g Finanzwirtschaft (DE-588)4017214-4 s DE-604 Kreditwesen (DE-588)4032950-1 s Thompson, John Lee 1914-2002 Verfasser (DE-588)123001080 aut HEBIS Datenaustausch application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=003500492&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | Buckle, Michael J. 1958- Thompson, John Lee 1914-2002 The United Kingdom financial system in transition theory and practice Finances - Grande-Bretagne ram Geldwezen gtt Institutions financières - Grande-Bretagne ram Finance Great Britain Finanzwirtschaft (DE-588)4017214-4 gnd Kreditwesen (DE-588)4032950-1 gnd |
| subject_GND | (DE-588)4017214-4 (DE-588)4032950-1 (DE-588)4022153-2 |
| title | The United Kingdom financial system in transition theory and practice |
| title_auth | The United Kingdom financial system in transition theory and practice |
| title_exact_search | The United Kingdom financial system in transition theory and practice |
| title_full | The United Kingdom financial system in transition theory and practice M. Buckle and J. L. Thompson |
| title_fullStr | The United Kingdom financial system in transition theory and practice M. Buckle and J. L. Thompson |
| title_full_unstemmed | The United Kingdom financial system in transition theory and practice M. Buckle and J. L. Thompson |
| title_short | The United Kingdom financial system in transition |
| title_sort | the united kingdom financial system in transition theory and practice |
| title_sub | theory and practice |
| topic | Finances - Grande-Bretagne ram Geldwezen gtt Institutions financières - Grande-Bretagne ram Finance Great Britain Finanzwirtschaft (DE-588)4017214-4 gnd Kreditwesen (DE-588)4032950-1 gnd |
| topic_facet | Finances - Grande-Bretagne Geldwezen Institutions financières - Grande-Bretagne Finance Great Britain Finanzwirtschaft Kreditwesen Großbritannien |
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