The course consists of an analysis of the main differences between the world's financial systems, an understanding of the processes of globalisation and convergence of financial systems, and an analysis of some of the structural features and functions of the channeling of funds.
scheda docente
materiale didattico
1.1 Premises for a comparative study
1.2 Forms of fund channelling
1.3 Classification of financial systems
2. The Historical Development of Financial Systems (2 hours)
2.1 The first stages of financial systems
2.2 Credit vs mutual aid
2.3 Early Financial Systems
2.4 The birth of modern financial systems
3. Today’s financial institutions and financial markets (4 hours)
3.1 Money capital and interest bearing capital
3.2Kinds of financial institutions
3.3 Banks and creation of liquidity
3.4 Banking and maturity transformation
3.5 Shadow banking
3.6 Mutual and pension funds
3.7 Major changes in today’s financial systems
4. Interest bearing capital and the conflict between industrial profit and financial rents (2 hours)
5. Central banks, money markets and monetary policies (2 hours)
5.1 The evolution of central banks
5.2 Different kinds of financial regulation
5.3 Money markets and monetary policy
6. Intertemporal choices and The ADM model (2 hours)
7. The Limitations of Markets (2 hours)
8. The role of Corporate Governance (4 hours)
9. Self-financing (2 hours)
10. Corporate saving (2 hours)
11. Financialisation of NFCs (4 hours)
12. Liquidity holding and financial crises (2 hours)
13. Bubbles, crises and other financial troubles (6 hours)
14. Market-oriented systems (8 hours)
14.1 The UK financial system
14.2 The US financial system
15. Bank-oriented Systems (8 hours)
15.1 The German financial system
15.2 The French financial system
15.3 The Eurozone and the Banking Union
15.4 The Japanese financial system
16. Financial systems in emerging countries (8 hours)
Allen F., Gale D, Comparing Financial Systems, MIT Press, 2000.
Fruizione: 21210247 COMPARING FINANCIAL SYSTEMS in Finanza e impresa LM-16 SCARANO GIOVANNI
Programma
1. Introduction (2 hours)1.1 Premises for a comparative study
1.2 Forms of fund channelling
1.3 Classification of financial systems
2. The Historical Development of Financial Systems (2 hours)
2.1 The first stages of financial systems
2.2 Credit vs mutual aid
2.3 Early Financial Systems
2.4 The birth of modern financial systems
3. Today’s financial institutions and financial markets (4 hours)
3.1 Money capital and interest bearing capital
3.2Kinds of financial institutions
3.3 Banks and creation of liquidity
3.4 Banking and maturity transformation
3.5 Shadow banking
3.6 Mutual and pension funds
3.7 Major changes in today’s financial systems
4. Interest bearing capital and the conflict between industrial profit and financial rents (2 hours)
5. Central banks, money markets and monetary policies (2 hours)
5.1 The evolution of central banks
5.2 Different kinds of financial regulation
5.3 Money markets and monetary policy
6. Intertemporal choices and The ADM model (2 hours)
7. The Limitations of Markets (2 hours)
8. The role of Corporate Governance (4 hours)
9. Self-financing (2 hours)
10. Corporate saving (2 hours)
11. Financialisation of NFCs (4 hours)
12. Liquidity holding and financial crises (2 hours)
13. Bubbles, crises and other financial troubles (6 hours)
14. Market-oriented systems (8 hours)
14.1 The UK financial system
14.2 The US financial system
15. Bank-oriented Systems (8 hours)
15.1 The German financial system
15.2 The French financial system
15.3 The Eurozone and the Banking Union
15.4 The Japanese financial system
16. Financial systems in emerging countries (8 hours)
Testi Adottati
Scarano G., Financialisation and Macroeconomics. The impact on Social welfare in Advanced Economies, Routledge, 2023.Allen F., Gale D, Comparing Financial Systems, MIT Press, 2000.
Modalità Erogazione
Lectures in classroomModalità Frequenza
Compulsory attendanceModalità Valutazione
The final test involves 7 multiple choice questions and 3 open-ended questions. The multiple-choice questions are on all the topics of the course. The open-ended questions will be pull out from a list of questions previously published on the web site of the course. Each right answer to a multiple-choice question is worth 3 points. Each answer to an open question is evaluated from 0 to 4 points.