About the Book
An Introduction to Global Financial Markets describes the financial sector in clear, easy to understand terms, providing a broad and balanced introduction to financial markets across the world. In the constantly fluctuating state of modern world finance, the book provides comprehensive, up-to-date coverage of commercial and investment banking, foreign exchange, money and bond markets, stock markets and derivatives products. It is the ideal text for those who require a basic understanding of, or who are new to, the world of finance. The new edition includes: - Updated coverage of the financial crisis and its context - The European sovereign debt crisis and the impact on the Euro - Monetary policy and quantitative easing - A new chapter on regulation and the markets - Coverage of social, ethical, environmental and trust issues - Aids for students of finance and a newly updated companion website: www.palgrave.com/business/valdez7
Table of Contents:
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
About the Author :
Stephen Valdez is a retired financial trainer and consultant and is the former Director of Profile Financial Training Plc. He formed Valdez Financial Training in 1985 to provide simple introductory courses on financial markets. The courses were used around the world by major banks, financial institutions, software houses and information providers. The company was later sold to The Financial Training Co. Ltd. with Stephen Valdez acting as consultant. Professor Philip Molyneux is Head of Bangor Business School, Professor in Banking and Finance and Director of the Institute of European Finance at Bangor University, UK. He previously held the Special Chair of Financial Services and Financial Conglomerates at Erasmus University, Rotterdam, Netherlands, and was Visiting Professor at Bocconi University, Milan, Italy. He has published a variety of texts on banking areas and acted as a consultant to New York Federal Reserve Bank, the World Bank, the European Commission, the UK Treasury, Citibank Private Bank, Bermuda Commercial Bank, McKinsey& co, Credit Suisse and various other international banks and consulting firms.
Review :
'Ever wondered how you and your students could navigate global finance without a PhD in math? This book is your answer. Molyneux and Valdez cut unnecessary jargon and get straight to the concepts that matter. I know of no better way to familiarize students with the nuts and bolts of 21st century financial markets.' - Dr. Daniel Mugge, Center for European Studies, Harvard University, USA and University of Amsterdam, Netherlands 'The more of Valdez and Molyneux I read the more impressed I become. Any students working through this book will gain an excellent grounding in the fundamental features of modern financial markets.' - Dr. Les Short, School of Accounting, Financial Services and Law, Edinburgh Napier University, UK Given the importance of the financial system in the midst of the on-going worldwide financial crisis, An Introduction to Global Financial Markets by Valdez and Molyneux could not come at a more important time. The authors provide an accessible treatment of the major issues affecting the modern financial system. This book is a must read for anyone who is interested in understanding the origins, evolution and workings of the modern financial system.' - Professor John O.S. Wilson, Professor of Banking & Finance, Management School, University of St Andrews 'This is essential reading for anyone studying how global financial markets work, and, more importantly, looking for insights as to how they may work in the future. An indispensable resource for all finance professionals.' - Simon Thompson, Chief Executive, Chartered Banker Institute 'This book by Valdez and Molyneux provides a great introduction to global financial markets. Unlike most textbooks the outlook of this work is truly global and every effort has been made to keep the work up to date. It is also peppered with relevant historical insights that help the reader to understand how the build-up to the current institutional framework in global financial markets took place.' - David Marques-Ibanez, Senior Economist, European Central Bank 'The 7th Edition of An Introduction to Global Financial Markets fits the needs of both academics and practitioners interested in expanding their knowledge into this field. Anyone entering into this arena should read this piece of work. I highly recommend this book to any interested reader or student.' - Dr Sotiris K. Staikouras, Cass Business School, City University, UK 'This is a must read for all those who want an understandable, comprehensive and up to date overview of the global financial markets. The book covers virtually everything. This includes money and bond markets, stock exchanges, hedge funds, commercial banking, investment banking, central banking, and derivatives. Furthermore, the financial crisis, the regulatory responses, and the recent trends in the markets are all covered in detail. Finally, I liked the historical information that is provided in several occasions.' - Fotios Pasiouras, Reader in Banking & Finance, Surrey Business School, University of Surrey, UK Praise for the sixth Edition: 'This 6th Edition of An Introduction to Global Financial Markets is a must read for those beginning to study finance and an essential reference for advanced students of the topic. The coverage of the recent financial crisis is fantastic and provides a thorough update of all the data, markets, institutions, and financial instruments that played a role in the crisis.' - Allen N. Berger, H. Montague Osteen, Jr., Professor in Banking and Finance, Moore School of Business, University of South Carolina, USA 'Valdez and Molyneux's book is without competitor. There are two main reasons for its growing success: it is complete, up-to-date and of a truly global scope; and it is written in a limpid and lively way. Furthermore the new chapter on the subprime crisis and its developments represents an invaluable synthesis. This book definitely provides the best introduction to the study of world financial markets.' - Francis Bismans, Professor in Economics and Finance, BETA and University of Nancy, France 'An Introduction to Global Financial Markets provides a comprehensive and inspiring introduction to global financial sectors and a thought-provoking description of major international financial activities. The new edition of the book is further completed with an objective yet insightful account of the recent financial crisis, conveying important information and implications to markets participants and policymakers around the world.' - Dr. Ruijun Bu, Lecturer in Economics, University of Liverpool Management School, UK, and Visiting Fellow in Finance, Bendheim Center for Finance, Princeton University, USA 'Valdez and Molyneux provide an excellent introduction to the modern global financial markets. No prior knowledge is required and the book is clearly written. The authors cover a wide range of topics that includes the role of central banks, investment banks, bond, equity and derivatives markets. They also discuss the rising superpowers of India and China, the credit crunch and the emerging trends in finance after the credit crisis. Overall the book is a first rate introduction to the finance world for undergraduate students of business studies and professionals who want to get the broad picture.' - Konstantinos Tolikas, Lecturer in Finance, Cardiff Business School, UK 'The new edition of An introduction to Global Financial Markets offers a first class guide to the subject. As ever, the Valdez book provides a practical and concise discussion which will be invaluable for anyone wanting to learn more about how financial markets actually work in practice. Whenever I have a student asking how they should prepare for an interview for a graduate investment banking place I always tell them to go away and read Valdez from cover to cover.' - Kevin Boakes, Senior Lecturer in Accounting and Finance, Faculty of Business and Law, Kingston University London, UK 'This new edition provides a comprehensive and interesting coverage of a massive and constantly changing subject area. It should prove a relevant and accessible reference book for both undergraduate and postgraduate students, as well as finance professionals.' - Dr. John Cooper, Senior Lecturer, Department of Economic Studies & International Business, Glasgow Caledonian Business School, UK From www.amazon.co.uk: 'This is the best book on finance I've ever read. It's a comprehensive introduction to financial markets written in a simple language. BUY IT.' 'This book is amazing!! I work for Merrill Lynch and they recommend this book to everyone. If you have no background to finance this is the book for you!' 'A FANTASTIC book for all newcomers to finance and a brilliant refresher for commercial and investment bankers who need to get a bird's eye view of the markets ... This book should be recommended reading for all new banking graduate trainees. And anyone selling to the 'City' or working in a support role, e.g. audit, regulation, compliance, risk, middle office, back office, law, HR, sales/marketing, public/investor relations, etc. Get it! It's worth every cent.' 'I read this book from cover to cover before starting work in the technology department of an investment bank and found it a great explanation of the basics of the finance world. The examples were really well explained and easy to follow. Simply a great book!' 'This book answered my questions and more. It also placed the financial markets into a global context, as the markets are truly worldwide ... In my opinion this is the best available if you require a high-level, not too detailed Introduction to Global Financial Markets.' 'I was very impressed with the vast spectrum of content covered. I had no previous knowledge of the financial markets and thanks to this book I now believe I have a reasonably good understanding of them.'
