新编国际金融英语教程
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作者顾维勇 著
出版社北京交通大学出版社
ISBN9787512104211
出版时间2010-12
装帧平装
开本16开
定价32元
货号11732387
上书时间2024-12-03
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目录
part i evolution and operation of the international monetary system
chapter 1 the gold standard era (1870-1914)
chapter 2 the inter-war period (1918-1939) and the bretton woods system (1944-1973)
chapter 3 managed floating since 1973 and the european monetary system
part ii organizations
chapter 4 the international monetary fund (imf)
chapter 5 the world bank
chapter 6 asian development bank
part iii currencies
chapter 7 the federal reserve system
chapter 8 the eurosystem
chapter 9 history of renminbi (rmb)
part iv financial crisis
chapter 10 financial crisis (2007-2009)
references
内容摘要
《新编国际金融英语教程》主要介绍国际金融英语的基础知识，内容包括国际货币体系的发展、金融组织、主要货币及金融危机等专题。《新编国际金融英语教程》紧密结合专业方向，英语语言地道新颖，有一定的难度或深度，但书中提供了相关的背景知识和语言注释，因此比较易教易学。《新编国际金融英语教程》适合商务英语、金融及相关专业的学生作为教材使用，亦可供金融英语爱好者自学之用。
精彩内容
The Automatic Adjustment Mechanism under the Gold Standard
The gold standard contains some powerful automatic mechanisms that contribute to the simultaneot achievement of balance of payments equilibrium by all countries. The most important of these was the pricspecie-flow mechanism （precious metals were referred to as " specie" ）. Hume's description of thmechanism has been translated into modern terms. Assume that Britain's current account~ surplus is greatthan its non-reserve capital account deficit. In this case, foreigners' net imports from Britain are not bein financed entirely by British loans. The balance must be matched by flows of international reserves that is, （ gold —— into Britain. The gold inflows into Britain automatically reduce foreign money supplies and increase Britain's money supply, driving foreign prices downward and British prices upward. As a result, thdemand for British goods and services will fall and at the same time the British demand for foreign gooc and services will increase. Eventually, reserve movements stop and both countries reach balance （ payments equilibrium. The same process also works in reverse, eliminating an initial situation of foreign surplus and British deficit.
However, the response of central banks to gold flows across their borders furnished another potenfimechanism to help restore balance of payments equilibrium. Central banks experiencing persistent gol outflows were motivated to contract their domestic asset holdings for the fear of becoming unable to me their obligation to redeem currency notes. Thus domestic interest rates were pushed up and capital woul flow in from abroad. Central banks gaining gold had much weaker incentives to eliminate their own impon of the metal. The main incentive was the greater profitability of interest-bearing domestic assets compare with "barren" gold. Central banks that were accumulating gold might be attempted to purchase domestic assets, thereby increasing capital outflows and driving gold abroad. These domestic credit measures, undertaken by central banks, reinforced the price-specie-flow mechanism in pushing all countries towar balance of payments equilibrium. Because such measures speeded up the movement of countries toward the external balance goals, they increased the efficiency of the automatic adjustment processes inherent in th mold standard. ……
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