国际金融(英文版)PPTinternationalfinance-basiccontentstruc
2. Theories of balance of payments 2.1 The elasticity approach to the balance of payments 2.2 The absorption approach to the balance of payments 2.3 The monetary approach to the balance of payments
Contents
3. Macroeconomics policy in an open economy 3.1 The problem of internal and external balance 3.2 The Mundell-Fleming model 3.3 Conclusions
4 . Fixed, Floating and Managed Exchange Rates 4.1 Definations and types of the exchange rate 4.2 The case for fixed exchange rates 4.3 The case for floating exchange rates 4.4 Managed floating 4.5 Conclusions
Markets 10.2 The Eurocurrency markets 10.3 The Eurobond markets
Contents
11. Capital budgeting & FDI 11.1 Background 11.2 Approaches to international business 11.3 Theories of FDI 11.4 More about taxation 11.5 Foreign direct investment and country risk 11.6 Transfer pricing
Contents
5. Models of the foreign exchange determination 5.1 PPP 5.2 Covered interest parity 5.3 Market efficiency, uncovered interest parity and real interest parity 5.4 Foreign exchange risk management
International Finance
Contents
1. The balance of payments 1.1 International transactions: the balance of payments 1.2 Balance of payments surplus and deficit 1.3 Economic forces and the balance of payments
12. Test
8. International lending and financial crises 8.1 International lending to developing countries 8.2 Financial crises 8.3 Resolving financial crises 8.4 The frequency of financial crises
6 . The Foreign Exchange Market 6.1 The basics of the foreign exchange market 6.2 Mechanics of the foreign exchange market
Contents
7. Currency futures, options, and swaps 7.1 Introduction 7.2 Currency futures 7.3 Currency options 7.4 Currency and interest swaps
ts
9. International monetary system 9.1 The gold standard era 9.2 Bretton Woods system 9.3 The Jamaica system 9.4 Euro zone
10. The Euro currency and Eurobond markets 10.1 Participants in the Eurocurrency and Eurobond
Contents
3. Macroeconomics policy in an open economy 3.1 The problem of internal and external balance 3.2 The Mundell-Fleming model 3.3 Conclusions
4 . Fixed, Floating and Managed Exchange Rates 4.1 Definations and types of the exchange rate 4.2 The case for fixed exchange rates 4.3 The case for floating exchange rates 4.4 Managed floating 4.5 Conclusions
Markets 10.2 The Eurocurrency markets 10.3 The Eurobond markets
Contents
11. Capital budgeting & FDI 11.1 Background 11.2 Approaches to international business 11.3 Theories of FDI 11.4 More about taxation 11.5 Foreign direct investment and country risk 11.6 Transfer pricing
Contents
5. Models of the foreign exchange determination 5.1 PPP 5.2 Covered interest parity 5.3 Market efficiency, uncovered interest parity and real interest parity 5.4 Foreign exchange risk management
International Finance
Contents
1. The balance of payments 1.1 International transactions: the balance of payments 1.2 Balance of payments surplus and deficit 1.3 Economic forces and the balance of payments
12. Test
8. International lending and financial crises 8.1 International lending to developing countries 8.2 Financial crises 8.3 Resolving financial crises 8.4 The frequency of financial crises
6 . The Foreign Exchange Market 6.1 The basics of the foreign exchange market 6.2 Mechanics of the foreign exchange market
Contents
7. Currency futures, options, and swaps 7.1 Introduction 7.2 Currency futures 7.3 Currency options 7.4 Currency and interest swaps
ts
9. International monetary system 9.1 The gold standard era 9.2 Bretton Woods system 9.3 The Jamaica system 9.4 Euro zone
10. The Euro currency and Eurobond markets 10.1 Participants in the Eurocurrency and Eurobond
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国际金融英文版PPT(共46页)
The exchange rate would fluctuate between (0.80 + 0.008) = 0.8008 and (0.80 – 0.008) = 0.792
0.8008 and 0.792 are called gold export and import points.
The BOP disequilibrium was corrected by “Price-specie-flow mechanism”.
Example of gold export and import
If the gold par value in New Zealand was NZ$125/ounce and A$100/ounce in Australia, so mint par of exchange: 100/125 = A$0.80/NZ$ Costs of gold transportation: A$0.008/NZ$
The Classical Gold Standard (1876 – 1914)
The gold standard was a commitment by participating nations to fix the price of their domestic currencies in terms of a specified amount of gold.
International monetary system is based on the exchange rate system adopted by individual nations. The exchange rate system is a set of rules governing the value of a currency relative to other currencies.
0.8008 and 0.792 are called gold export and import points.
The BOP disequilibrium was corrected by “Price-specie-flow mechanism”.
Example of gold export and import
If the gold par value in New Zealand was NZ$125/ounce and A$100/ounce in Australia, so mint par of exchange: 100/125 = A$0.80/NZ$ Costs of gold transportation: A$0.008/NZ$
The Classical Gold Standard (1876 – 1914)
The gold standard was a commitment by participating nations to fix the price of their domestic currencies in terms of a specified amount of gold.
International monetary system is based on the exchange rate system adopted by individual nations. The exchange rate system is a set of rules governing the value of a currency relative to other currencies.
国际金融英语International Finance 课件(I)PPT精品文档152页
International Finance
School of English Studies, Tianjin Foreign Studies University
The Score Arrangement
Total Score = Ordinary (30%) + Final Ex corporate perspective), in Chinese means “公司财务”.
For a company, its assets are composed of equity (所 有者权益/自有资金）and liabilities (负债）.
Assets = Equity + Liabilities
your own money or issue stock to public
Introduction To “Finance” From National, Corporate, And Personal
Prospects
A. Finance v. Provide capital (money) and capital movement，with financial institutions as intermediaries, in Chinese means “融 资”.
Bank (lender) Public investors
capital
a company (borrower)
principal with interests
A company may borrow long-term funds by issuing long-term corporate bonds to the public. It is a temporary transfer of ownership of funds from the bond buyers (investors) to the company. And the company promises to pay back the principal with interests to the bond buyers in the future. Here, commercial or investment banks play the role of financial intermediation and collect fees for this services, instead of interests.
School of English Studies, Tianjin Foreign Studies University
The Score Arrangement
Total Score = Ordinary (30%) + Final Ex corporate perspective), in Chinese means “公司财务”.
For a company, its assets are composed of equity (所 有者权益/自有资金）and liabilities (负债）.
Assets = Equity + Liabilities
your own money or issue stock to public
Introduction To “Finance” From National, Corporate, And Personal
Prospects
A. Finance v. Provide capital (money) and capital movement，with financial institutions as intermediaries, in Chinese means “融 资”.
Bank (lender) Public investors
capital
a company (borrower)
principal with interests
A company may borrow long-term funds by issuing long-term corporate bonds to the public. It is a temporary transfer of ownership of funds from the bond buyers (investors) to the company. And the company promises to pay back the principal with interests to the bond buyers in the future. Here, commercial or investment banks play the role of financial intermediation and collect fees for this services, instead of interests.
International finance chapter3 (国际金融英文版课件)
A forward rate is a rate applicable to a financial transaction that will take place in the future.
The Bid rate is the rate at which you can sell. The Ask (or offer) rate is the rate at which you can buy. Bid/Ask Spread The difference between the bid and ask prices. In thinly traded markets, this spread may be wide. The mean is the average of bid and ask rate. The cash rate is the exchange rate used in cash transaction.
THE BASICS OF CURRENCY TRADING
Multiple exchange rates The system by which a country's currency has more than one exchange rate with any foreign currency. The rate which applies to any transaction may depend on the holder of the currency, or on the purpose for which it is being used.
THE BASICS OF CURRENCY TRADING
International finance chapter 8 (国际金融英文版课件)
The marginal propensity to save (s) The marginal propensity to import (m)
The marginal propensity to consume domestic
product (1-s-m)
The spending multiplier in a small, open economy
THE PERFORMANCE OF A NATIONAL ECONOMY
We
judge a country’s macroeconomic performance against a number of broad objectives or goals. We can usefully divide these broad goals into two categories: internal balance and external balance.
Chapter 8 HOW DOES THE OPEN MACROECONOMY WORK?
HOW DOES THE OPEN MACROECONOMY WORK?
This
chapter develops a general framework for analyzing the performance of a national economy that is open to international transactions.
The value of this multiplier is the same whether the
initial extra spending is made by the government or a surge in consumption, a rise in private investment spending, or a rise in exports.
The marginal propensity to consume domestic
product (1-s-m)
The spending multiplier in a small, open economy
THE PERFORMANCE OF A NATIONAL ECONOMY
We
judge a country’s macroeconomic performance against a number of broad objectives or goals. We can usefully divide these broad goals into two categories: internal balance and external balance.
Chapter 8 HOW DOES THE OPEN MACROECONOMY WORK?
HOW DOES THE OPEN MACROECONOMY WORK?
This
chapter develops a general framework for analyzing the performance of a national economy that is open to international transactions.
The value of this multiplier is the same whether the
initial extra spending is made by the government or a surge in consumption, a rise in private investment spending, or a rise in exports.
国际金融课件internationalfinance
06
中国国际金融的实践与展望
中国国际金融业在规模和业务范围上不断扩大，成为全球金融市场的重要参与者。
中国国际金融业在推动经济增长、促进国际贸易和投资等方面发挥了重要作用。
改革开放以来，中国国际金融业经历了从无到有、从小到大的发展历程，逐步建立起较为完善的金融机构体系和金融市场体系。
中国国际金融的发展历程与现状
Global financial markets facilitate the flow of capital across borders, allowing for the efficient allocation of resources and the hedging of risks.
Regional financial markets serve specific geographical regions and are often associated with trade blocs or economic unions.
01
国际金融危机的定义
由于国际金融市场上的过度投机、金融监管缺失等原因，导致国际金融市场出现大规模动荡，影响各国经济的稳定。
02
国际金融危机的传染机制
通过贸易、金融和信息等渠道，将危机从一个国家传递到另一个国家。
国际金融危机及其传染机制
1
2
3
通过监测和分析国际金融市场的相关信息，及时发现潜在的风险点，采取应对措施。
02
03
04
05
Main International Financial Centers and Their Characteristics 主要国际金融中心及其特点
ห้องสมุดไป่ตู้
《国际金融教学课件》international finance 12共21页文档
B. 外汇风险头寸是企业或个人持有配的部分.
D. 在外汇买卖中,风险头寸表现为外汇持有额中 超买或超卖的部分.
• 2.外汇风险的构成要素有 A. 风险头寸 B. 两种以上的货币兑换 C. 成交与资金清算之间的时间 D. 汇率波动
A. 风险融资的本质是通过获取资金来支付或抵偿 外汇风险损失.
B. 套期保值只是实现了企业与对手之间风险的分 摊,所以它不属于风险融资手段
C. 风险融资也称损失融资
D. 有的公司虽然没有自有资金计划,但也可以用 自己的资本金弥补经营中的外汇风险损失,这 也是风险融资
• 5.以下期货合约套期保值的做法正确的是 A. 当企业未来有应付外币账款时,买入期货合约 B. 当企业未来有应收外币账款时,买入期货合约 C. 当企业未来有应付外币账款时,卖出期货合约 D. 当企业未来有应收外币账款时,卖出期货合约
• 5.折算风险造成的损失不是真实的,只是存在于账 面上.
• 6.外汇风险管理的本质是为了消除风险
• 7.货币期权既能使企业摆脱不利的汇率波动,又能 使企业从有利的汇率波动中收益.
• 8.调整计价货币,实际是将外汇风险转移给了交易 对手.
• 1.下列关于外汇风险头寸的说法正确的是:
A. 外汇风险头寸是承担外汇风险的外币资金.
• 2.我国对外商来华投资鼓励,但对外直接投资则限 制较多.
• 3.东道国政府往往不愿意采用股权式合营方式,因 为会对国内的民族产业形成冲击.
• 4.一般来说,投资期越长,跨国公司于当地的关系 就越密切,国家风险就会得到缓解.
• 1.只有当汇率波动导致经济主体的实际收益小于 预期收益时,才发生了外汇风险.
• 2.即使经济主体在对外贸易\金融等领域中,发生 了外币与本币的折算,但只要其兑换比率及汇率 没有发生变动,就不会面临外汇风险.
D. 在外汇买卖中,风险头寸表现为外汇持有额中 超买或超卖的部分.
• 2.外汇风险的构成要素有 A. 风险头寸 B. 两种以上的货币兑换 C. 成交与资金清算之间的时间 D. 汇率波动
A. 风险融资的本质是通过获取资金来支付或抵偿 外汇风险损失.
B. 套期保值只是实现了企业与对手之间风险的分 摊,所以它不属于风险融资手段
C. 风险融资也称损失融资
D. 有的公司虽然没有自有资金计划,但也可以用 自己的资本金弥补经营中的外汇风险损失,这 也是风险融资
• 5.以下期货合约套期保值的做法正确的是 A. 当企业未来有应付外币账款时,买入期货合约 B. 当企业未来有应收外币账款时,买入期货合约 C. 当企业未来有应付外币账款时,卖出期货合约 D. 当企业未来有应收外币账款时,卖出期货合约
• 5.折算风险造成的损失不是真实的,只是存在于账 面上.
• 6.外汇风险管理的本质是为了消除风险
• 7.货币期权既能使企业摆脱不利的汇率波动,又能 使企业从有利的汇率波动中收益.
• 8.调整计价货币,实际是将外汇风险转移给了交易 对手.
• 1.下列关于外汇风险头寸的说法正确的是:
A. 外汇风险头寸是承担外汇风险的外币资金.
• 2.我国对外商来华投资鼓励,但对外直接投资则限 制较多.
• 3.东道国政府往往不愿意采用股权式合营方式,因 为会对国内的民族产业形成冲击.
• 4.一般来说,投资期越长,跨国公司于当地的关系 就越密切,国家风险就会得到缓解.
• 1.只有当汇率波动导致经济主体的实际收益小于 预期收益时,才发生了外汇风险.
• 2.即使经济主体在对外贸易\金融等领域中,发生 了外币与本币的折算,但只要其兑换比率及汇率 没有发生变动,就不会面临外汇风险.
国际金融英文版(全)
International financial markets
Eurocurrency markets International debts markets-long-term global bonds/foreign bonds/eurobonds/special types of bonds Short-and medium-term debt markets Euro-commercial paper and euro-medium-term notes/floating rate euro-notes International equities
Non-bank financial institutions in global finance International financial markets International derivatives exchange-traded International non-exchange traded derivatives
the balance of payment
3.the theories of foreign exchange rate determination 4.foreign exchange exposure
4.nonexchange traded derivatives
Inventory of international financial resources Yu feng yao
Foreign bonds-foreign bonds are issued in local market by a foreign borrower,with the assistance of a large investment bankers,and are denominated in a local currency. Eurobonds-eurobonds are financed by long-term funds in the Eurocurrency markets.They are underwritten by a multinational syndicate of banks and placed in countries other than the one in whose currency they are denominated.
国际金融1 PPT
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1.18
汇款流程图
托收（Collection）
1.19
➢ 在贸易上常用的是跟单托收。出口商按合同的要 求发货后，备齐包括提单和发票等在内的单据， 开立向进口商索款汇票，委托一家出口地银行 （即托收行）收款；托收行接受委托后，再委托 一家进口地银行（即代收行）收款；代收行持有 汇票向进口商（付款人）提示付款，进口商只有 在付款或承诺付款之后才能取得作为货权凭证的 单据；进口商付款后，代收行就根据托收行的指 示汇出款项，托收行收款后再付给出口商。
➢ 国际货币职能的具体表现
价值标准 交易媒介 储藏手段
私人交易
政府交易
计价货币：在国际贸易中用
以表示商品劳务价格，以及在 国际投资中用以表示债权债务 金额的货币。
基准货币：政府在制定货 币平价或对外汇率时所使 用。
结算货币：在商品劳务交易中 干预货币：政府在干预外 充当交易媒介，在信用活动中 汇市场时所使用的货币。 用于资金借贷和偿还的货币。
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100W优质文档免费下 载
VIP有效期内的用户可以免费下载VIP免费文档，不消耗下载特权，非会员用户需要消耗下载券/积分获取。
部分付费文档八折起 VIP用户在购买精选付费文档时可享受8折优惠，省上加省；参与折扣的付费文档均会在阅读页标识出折扣价格。
1.18
汇款流程图
托收（Collection）
1.19
➢ 在贸易上常用的是跟单托收。出口商按合同的要 求发货后，备齐包括提单和发票等在内的单据， 开立向进口商索款汇票，委托一家出口地银行 （即托收行）收款；托收行接受委托后，再委托 一家进口地银行（即代收行）收款；代收行持有 汇票向进口商（付款人）提示付款，进口商只有 在付款或承诺付款之后才能取得作为货权凭证的 单据；进口商付款后，代收行就根据托收行的指 示汇出款项，托收行收款后再付给出口商。
➢ 国际货币职能的具体表现
价值标准 交易媒介 储藏手段
私人交易
政府交易
计价货币：在国际贸易中用
以表示商品劳务价格，以及在 国际投资中用以表示债权债务 金额的货币。
基准货币：政府在制定货 币平价或对外汇率时所使 用。
结算货币：在商品劳务交易中 干预货币：政府在干预外 充当交易媒介，在信用活动中 汇市场时所使用的货币。 用于资金借贷和偿还的货币。
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VIP用户有效期内可使用共享文档下载特权下载任意下载券标价的文档（不含付费文档和VIP专享文档），每下载一篇共享文
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《国际金融教学课件》internationalfina
风险头寸
01
两种以上的货币兑换
02
成交与资金清算之间的时间
03
汇率波动
04
外汇风险的构成要素有
企业可以通过建立外汇风险防范基金来降低风险损失程度.
3
1
2
4
风险控制手段既可以通过降低风险损失概率,也可以通过降低风险损失程度来减少风险成本
企业主动减少涉外经济活动是一种风险控制手段
企业对外汇风险头寸进行套期保值是典型的风险控制手段
发展中国家因为资本短缺,一般对外国直接投资大力鼓励,而发达国家因为不存在资本缺口问题,往往对外国直接投资予以严格限制.
01
我国对外商来华投资鼓励,但对外直接投资则限制较多.
02
东道国政府往往不愿意采用股权式合营方式,因为会对国内的民族产业形成冲击.
03
一般来说,投资期越长,跨国公司于当地的关系就越密切,国家风险就会得到缓解.
交易风险和折算风险是汇率变动对过去的\已经发生了的以外币计价的交易影响,而经济风险则是要衡量将来某一段时间内出现的外汇风险.
只有当汇率波动导致经济主体的实际收益小于预期收益时,才发生了外汇风险.
外汇风险是企业或个人持有的所有外币资产和负债都要承担的风险.
01
020304折算风险造成的损失不是真实的,只是存在于账面上.
单击此处添加正文，文字是您思想的提炼，为了演示发布的良好效果，请言简意赅地阐述您的观点。您的内容已经简明扼要，字字珠玑，但信息却千丝万缕、错综复杂，需要用更多的文字来表述；但请您尽可能提炼思想的精髓，否则容易造成观者的阅读压力，适得其反。正如我们都希望改变世界，希望给别人带去光明，但更多时候我们只需要播下一颗种子，自然有微风吹拂，雨露滋养。恰如其分地表达观点，往往事半功倍。当您的内容到达这个限度时，或许已经不纯粹作用于演示，极大可能运用于阅读领域；无论是传播观点、知识分享还是汇报工作，内容的详尽固然重要，但请一定注意信息框架的清晰，这样才能使内容层次分明，页面简洁易读。如果您的内容确实非常重要又难以精简，也请使用分段处理，对内容进行简单的梳理和提炼，这样会使逻辑框架相对清晰。为了能让您有更直观的字数感受，并进一步方便使用，我们设置了文本的最大限度，当您输入的文字到这里时，已濒临页面容纳内容的上限，若还有更多内容，请酌情缩小字号，但我们不建议您的文本字号小于14磅，请您务必注意。单击此处添加正文，文字是您思想的提炼，为了演示发布的良好效果，请言简意赅地阐述您的观点。您的内容已经简明扼要，字字珠玑，但信息却千丝万缕、错综复杂，需要用更多的文字来表述；但请您尽可能提炼思想的精髓，否则容易造成观者的阅读压力，适得其反。正如我们都希望改变世界，希望给别人带去光明，但更多时候我们只需要播下一颗种子，自然有微风吹拂，雨露滋养。恰如其分地表达观点，往往事半功倍。当您的内容到达这个限度时，或许已经不纯粹作用于演示，极大可能运用于阅读领域；无论是传播观点、知识分享还是汇报工作，内容的详尽固然重要，但请一定注意信息框架的清晰，这样才能使内容层次分明，页面简洁易读。如果您的内容确实非常重要又难以精简，也请使用分段处理，对内容进行简单的梳理和提炼，这样会使逻辑框架相对清晰。为了能让您有更直观的字数感受，并进一步方便使用，我们设置了文本的最大限度，当您输入的文字到这里时，已濒临页面容纳内容的上限，若还有更多内容，请酌情缩小字号，但我们不建议您的文本字号小于14磅，请您务必注意。单击此处添加正文，
国际金融英语International Finance 课件
Bank (lender) Public investors
capital
a company (borrower)
principal with interests
A company may borrow long-term funds by issuing long-term corporate bonds to the public. It is a temporary transfer of ownership of funds from the bond buyers (investors) to the company. And the company promises to pay back the principal with interests to the bond buyers in the future. Here, commercial or investment banks play the role of financial intermediation and collect fees for this services, instead of interests.
机械工业出版社。 6、《经济学原理》，Gregory Mankiw, 机械工业出版社。 7、《中央银行英语教程》、《商业银行英语教程》、
《证券市场与投资银行英语教程》，李若谷、张燕铃、 和广北等，新华出版社。 8、《金融市场与机构》，Jeff Madura, 北京大学出版社。
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II. Functions of Money
A. Medium of Exchange (流通手段）— basic function B. Standard of Value (价值尺度）— basic function C. Store of Value (价值储藏） D. Standard of Deferred Payment (延期支付标准） F. World Currency (世界货币）