This book examines how major shocks—the 2008 Global Financial Crisis and the COVID‑19 pandemic—accelerated long‑running shifts in international finance, from the rise of Asia’s capital markets to tighter banking regulation and the rebalancing of global capital flows. Bringing together comparative evidence on international financial centres, external balance sheets, and market microstructure, the book traces changes in equity and fixed‑income issuance, the expansion of corporate bond finance, and currency trading dynamics since 2000.
Chapters survey the evolution of the Basel Capital Accord (Basel I–III) and the debate around the so‑called “Basel IV” output‑floor reforms; analyze asymmetric resilience and global imbalances; and assess BIS‑based trends in FX turnover and instrument composition, including the growing role of swaps and the renminbi. Across regions, the book highlights how regulatory convergence, market depth, breadth, and volatility have reshaped competitive positioning between established Western hubs and emerging Asian centres.
Written for scholars and advanced students of international finance, macro‑finance, and global capital markets, as well as policy practitioners, the book offers an empirically grounded synthesis that connects structural change to crises‑driven policy responses and the organisation of global markets. It provides updated datasets through 2023 and integrated analysis across banking regulation, foreign exchange, and corporate debt, offering measured insights without overstating novelty or reach.
Table of Contents:
Chapter 1. Global Finance in Transition: Competing Financial Centers.- Chapter 2. Capital Flows and Financial Integration: A Study of Global and Regional Markets.- Chapter 3. Basel Capital Accord and International Standard Setting.- Chapter 4. The Global Foreign Exchange Market: Structure, Evolution, and Currency Dynamics.- Chapter 5. The Reshaping of Global Corporate Finance: From West to East.- Chapter 6. The Great Rebalancing: A Comparative Study of Global Capital Market Structures.
About the Author :
Mehmed Ganic is Full Professor of Economics at the International University of Sarajevo. His research spans macro-finance, international finance, applied econometrics, and financial integration, with industry experience in securities regulation. He is the author of Financial Globalization in the Emerging Balkans (Palgrave Macmillan) and has published widely on capital flows, financial development, and macroprudential policy.
