Theorie Der Internationalen Finanzmärkte Aus Der Sicht Der Nationalen Geldpolitik (Theory of International Financial Markets Viewed From a National Monetary Policy Perspective)

Wirtschaftspolitische Blätter, Vol. 30, No. 4, pp. 33-47, 1983

Posted: 5 Jul 2011

See all articles by Heinz Handler

Heinz Handler

Austrian Institute of Economic Research (WIFO); Vienna University of Technology - Institute of Statistics and Mathematical Methods in Economics, Research Group Economics (ECON); Austrian Federal Chancellery - Verwaltungsakademie des Bundes

Date Written: 1983

Abstract

The theory of international financial markets considers the origins and developments of such markets, the functions they serve, their potential of creating international liquidity, and their impact on national monetary policies. The paper provides an overview of the issues debated in the early 1980s and sees a non-negligible impact of the rapid growth of international financial markets on inflation, on the stability of the international financial system and exchange rates, and on the conduct of national monetary policies. Monetary authorities are swamped by the high speed of spreading financial innovations which can often be controlled only ex post. Already the international debt crisis of the early 1980s demonstrated that coordinated international activities were necessary to regulate the cross-border business of financial institutions.

Keywords: international financial markets, monetary policy, debt crisis

JEL Classification: E44, E51, G15

Suggested Citation

Handler, Heinz J., Theorie Der Internationalen Finanzmärkte Aus Der Sicht Der Nationalen Geldpolitik (Theory of International Financial Markets Viewed From a National Monetary Policy Perspective) (1983). Wirtschaftspolitische Blätter, Vol. 30, No. 4, pp. 33-47, 1983, Available at SSRN: https://ssrn.com/abstract=1870966

Heinz J. Handler (Contact Author)

Austrian Institute of Economic Research (WIFO) ( email )

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HOME PAGE: http://www.wifo.ac.at

Vienna University of Technology - Institute of Statistics and Mathematical Methods in Economics, Research Group Economics (ECON) ( email )

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HOME PAGE: http://www.econ.tuwien.ac.at

Austrian Federal Chancellery - Verwaltungsakademie des Bundes ( email )

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Austria

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