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Cover

Financial Institutions and Markets

Second Edition

Meir Kohn

Publication Date - July 2003

ISBN: 9780195134728

704 pages
Hardcover
7-1/2 x 9-1/4 inches

Unlike most books designed for financial markets and institutions courses, this successful text focuses on the "why" of existing and evolving markets and instruments as well as the "how."

Description

Why do financial institutions and markets have the structure they do? Why is that structure changing? These questions are central to the scope and purpose of Meir G. Kohn's Financial Institutions and Markets, 2/e. Unlike most books designed for financial markets and institutions courses, this successful text focuses on the "why" of existing and evolving markets and instruments as well as the "how."
Financial Institutions and Markets, 2/e, makes clear the general principles and economic functions underlying all financial intermediaries. It provides a thorough discussion of the specifics of banking, insurance, pension funds, and mutual funds. In a similar fashion, the book elucidates the general principles and economic functions common to all financial markets and offers an in-depth look at the specifics of the particular markets for government securities, mortgages, corporate debt, equity, and derivatives. The final section addresses the management of liquidity and risk and discusses the safety, stability, and regulation of financial intermediaries and financial markets.
Each chapter begins with a list of study objectives and concludes with a summary. Key terms are listed at the end of each chapter and defined in marginal glossaries as they occur in the text. End-of-chapter questions are included to provide a stimulus for discussion. Accessible to a wide range of students, Financial Institutions and Markets, 2/e, is ideal for courses in financial institutions, financial markets, or a combination of institutions and markets at either the undergraduate or graduate level.

Previous Publication Date(s)

July 1994

Reviews

"In this second edition, Meir Kohn addresses the structure of financial institutions and markets and investigates why and how existing markets are evolving. The book emphasizes a functional focus on financial intermediaries and markets such as government securities, mortgage, corporate debt, equity markets, derivatives, and market microstructure. Chapters cover liquidity and risk, regulation, and developing financial systems."--Journal of Macroeconomics

Table of Contents

    PART I. PRINCIPLES
    1. Lending, payments, and risk-trading
    2. The financial system and its technology
    3. Efficiency, stability, and government intervention
    4. Interest rates, exchange rates, and security prices
    PART II. FINANCIAL INTERMEDIARIES
    5. Understanding financial intermediaries
    6. What is a bank?
    7. The banking industry
    8. Payments and foreign exchange
    9. Insurance
    10. Pension funds and mutual funds
    PART III. FINANCIAL MARKETS
    11. Understanding financial markets
    12. The market for government securities
    13. The mortgage market
    14. The corporate debt market
    15. The equity market
    16. The derivatives market: futures, options, and swaps
    17. The organization of financial markets
    PART IV. REGULATION AND STABILITY
    18. Managing liquidity and risk
    19. Bank safety and regulation
    20. Security market stability and regulation