International Trade and Finance: A North American Perspective

Table of contents

• Title Page iii
• CONTENTS vii
• Tables xi
• Figures xv
• PREFACE xvii
• I INTRODUCTION 1
• 1: INTRODUCTION 3
• 11: SPECIAL ISSUES IN INTERNATIONAL TRADE 13
• 2: INTERNATIONAL TRADE IN SERVICES: FOUR DISTINGUISHING FEATURES 15
• CONCLUSION 22
• NOTES 22
• 3: AN ECONOMIC BASE MODEL FOR MEASURING LOCAL SPECIALIZATION and EXPORTS ORIENTATION OF A REGION: THE CASE OF ARKANSAS 24
• III EXTERNAL BORROWING 39
• 4: DEBT FLOWS and THE VARIABILITY OF FOREIGN EXCHANGE RATES OF THE THIRTEEN LARGEST DEBTOR NATIONS 41
• SUMMARY AND CONCLUSION 54
• NOTES 54
• 5: THE ROLE OF INDEBTEDNESS IN THE CIRCUIT OF CAPITAL: ITS IMPACT ON INFLATION and INCOME DISTRIBUTION 56
• 6: DEBT RESCHEDULING: POSTPONING THE CRISIS? AN EMPIRICAL EVALUATION OF CURRENT RESCHEDULING POLICIES 72
• CONCLUSION 82
• NOTES 84
• IV SPECIAL ISSUES IN INTERNATIONAL FINANCE: THE INTERNATIONAL DEBT CRISIS 87
• 7: THE U.S. FOREIGN DEBT PROBLEM: RESTRUCTURING THE BALANCE OF PAYMENTS 89
• CONCLUSION 98
• NOTES 98
• 8: FOREIGN DEBT and ECONOMIC DEVELOPMENT: IMF POLICY ISSUES 100
• V CURRENCY MARKETS AND RISK MANAGEMENT 109
• 9: GOVERNMENT DEBT ANNOUNCEMENTS, MARKET USE OF INFORMATION, and THE BEHAVIOR OF EXCHANGE RATES 111
• NOTES 120
• 10: CURRENCY RISK MANAGEMENT USING OPTIONS 121
• VI INTERNATIONAL BANKING 149
• 11: THE EFFECT OF THE INTERNATIONAL DEBT CRISIS ON U.S. BANK EQUITY RETURNS 151
• SUMMARY AND CONCLUSION 155
• NOTES 157
• 12: TECHNIQUES FOR VALUING and REACTING TO BLOCKED FUNDS PROBLEMS IN LATIN AMERICA 159
• VII MULTINATIONAL CORPORATIONS AND FOREIGN DIRECT INVESTMENT 173
• 13: INVESTMENT STRATEGY OF SMALL- and MEDIUM-SIZED GERMAN FIRMS IN THE UNITED STATES and THE THEORY OF FOREIGN DIRECT INVESTMENT 175
• SUMMARY AND IMPLICATIONS 187
• NOTES 188
• 14: FOREIGN DIRECT INVESTORS' LOCAL BORROWING: AN ANALYSIS OF THE CONSEQUENCES IN LESS DEVELOPED COUNTRIES DIFFERENTIATED BY INCOME LEVEL 190
• SUMMARY AND CONCLUSION 196
• NOTES 196
• 15: AN EMPIRICAL TEST OF THE AID-CUM-DEVELOPMENT HYPOTHESIS: SOME EVIDENCE FROM SOUTH AMERICA 198
• CONCLUSIONS 209
• NOTES 209
• VIII ECONOMIC RELATIONS BETWEEN NORTH AMERICA AND THE REST OF THE WORLD 211
• 16: THE DOLLAR'S DEPRECIATION and THE U.S. TRADE DEFICIT 213
• NOTES 219
• 17: PRESENCE OF EASTERN EUROPEAN ECONOMIES IN NORTH AMERICAN MARKETS 220
• CONCLUSION 226
• NOTES 227
• 18: U.S.-CHINESE TRADE and INVESTMENT PATTERNS 228
• 19: THE LINKAGE BETWEEN U.S. AGRICULTURE and THIRD WORLD DEVELOPMENT 239
• CONCLUSION AND IMPLICATIONS 244
• NOTES 245
• IX ECONOMIC INTEGRATION IN NORTH AMERICA: MYTH OR REALITY? 247
• 20: NORTH AMERICAN COMMON MARKET: POTENTIALS and PROBLEMS 249
• INTRODUCTION 249
• SUMMARY 257
• NOTES 258
• 21: THE NORTH AMERICAN COMMON MARKET: AN IDEA WHOSE TIME HAS COME? 259
• 22: A NORTH AMERICAN COMMON MARKET: A CANADIAN PERSPECTIVE 270
• CONCLUSION 274
• NOTES 275
• BIBLIOGRAPHY 277
• INDEX 285
• CONTRIBUTORS 295

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