ch9 - Chapter 9 Introduction to International Finance...

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Chapter 9 Introduction to International Finance Countries have different currencies Why do all these monies exist and what purposes do they serve? And what are their implications for the working of our global economy? What are the causes and consequences of the changing value of one currency against another? Aside from national pride, does a country enjoy benefits from having its own money? Or does it suffer costs? Countries lend and borrow Why do all these transactions occur and what purposes do they serve? Who lends to whom, and why? Why are some debts paid, but not others? Is the free flow of finance a source of economic benefits; or do we need to consider potential economic costs too? Policy matters Recessions, depression, crises, defaults,.…. How can devastating economic failures be understood? And even when economic problems are not so glaring, what can be said about the seemingly more mundane choices governments make about monetary and fiscal policies, or about exchange rates and capital mobility?
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