internationalmonetarysystem(跨國公司財務管理-j-資料下載頁
2025-01-10 12:10本頁面
【正文】 29 THE EUROPEAN MONETARY SYSTEM 2. Currency Crisis of Sept. 1992 a. System broke down b. Britain and Italy forced towithdraw from EMS. 30 THE EUROPEAN MONETARY SYSTEM G. Failure of the EMS: members allowed political priorities to dominate exchange rate policies. 31 THE EUROPEAN MONETARY SYSTEM H. Maastricht Treaty 1. Called for Moary Union by 1999 (moved to 2023) 2. Established a single currency: the euro 32 THE EUROPEAN MONETARY SYSTEM 3. Calls for creation of a single central EU bank 4. Adopts tough fiscal standards 33 THE EUROPEAN MONETARY SYSTEM I. Costs / Benefits of A Single Currency A. Benefits 1. Reduces cost of doing business 2. Reduces exchange rate risk 34 THE EUROPEAN MONETARY SYSTEM B. Costs 1. Lack of national moary flexibility. 35 PART IV. EMERGING MARKET CURRENCY CRISES I. Transmission Mechanisms A. Trade links contagion spreads through trade B. Financial System more important transmission mechanism investors sell off to make up for losses 36 EMERGING MARKET CURRENCY CRISES II. Origins of Emerging Market Crises III. A. Moral hazard IV. V. B. Fundamental Policy Conflict 37 EMERGING MARKET CURRENCY CRISES III. Policy Proposals for Dealing with Emerging Market Crises IV. A. Currency Controls V. B. Freely Floating Currency VI. C. Permanently Fixed Exchange Rate 38 演講完畢，謝謝觀看！
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