Opis książki: This book is a result of research on both theory and practice of capital flows in the global economy. The research has been performed by a team of economics from the Collegium of Business Administration, at Warsaw School of Economics. The authors focus primarily on the origins of world financial crisis and on the new directions of capital flows. Additionally, the authors discuss the impact of the process of capital accumulation by China and India on the world economy, mechanisms of shaping crude oil prices as well as growing importance of remittances.
Introduction pp. Andrzej Szablewski Chapter 1. Capital flows and multi-currency global monetary system pp. 1.1. Overcoming Moral Crisis and Value Crisis pp. 1.2. In Search for New Scientific Paradigms pp. 1.3. Renaissance of State in Economy as Durable Recipe for Success? pp. 1.4. Forecasts of GDP Decrease and Increase pp. 1.5. Capital Surpluses and Deficiencies pp. 1.6. New Capital Provider: Sovereign Wealth Funds (SWFs) pp. 1.7. Conclusions from the Long-Term Technical Analysis for the American Market pp. 1.8. Multi-Currency Global Monetary System in the Next Decade! pp. 1.8.1. New Super Bubble on the Horizon: US Bonds and Dollar Weakening pp. 1.8.2. Strengthening of the Euro pp. 1.8.3. Growing Aspirations of Renminbi: New Active Policy of China pp. 1.9. Conclusions pp. Alfred Bieć Chapter 2. The Second Economic Crisis of the 21st Century: Causes and Forecasts 2.1. Introduction pp. 2.2. Crude Oil Prices pp. 2.3. Food and Metal Prices pp. 2.4. The Financial Market Crisis pp. 2.5. GDP and Export Growth in the World and Selected Regions - Forecast to 2015 pp. 2.6. Conclusions pp. Krzysztof Rybiński Chapter 3. The Financial Crisis: Its Origins and Consequences pp. 3.1. The Mechanism of Speculative Bubble and Crisis Escalation pp. 3.2. How Should We Respond to the High Risk of An Asset-Price Bubble? pp. 3.3. The Strategy of the Polish Government: The Free Rider Strategy and the Golden Polish Decade pp. 3.4. Questions for the Future pp. Katarzyna Żądło Chapter 4. Crisis versus Trust - Conclusions from the Global Economy Problems of Today pp. 4.1. Trust as a Function of Risk Perception pp. 4.2. Liquidity or Trust Crisis? pp. 4.2.1. Trust Deficit as a Derivative of Bad Communication. Situation of the Fortis Group pp. 4.2.2. Communication as a Factor Constituting the Culture of Trust. Importance of Communication on the Capital Market pp. 4.3. Pessimistic Perspectives pp. 4.4. Polish experience with Crisis' Effects pp. 4.5. Conclusions pp. Magdalena Mikołajek-Gocejna Chapter 5. Investor Relations and Possibilities of Competition for Capital pp. 5.1. Overperformance as the Key Determinant of Competitiveness of Contemporary Economies, Sectors and Enterprises pp. 5.2. Use of Investor Relations in Competition for Capital pp. 5.2.1. Changes in Company Operation and Growing Information Needs of Society pp. 5.2.2. Gaps in the System of Communication between Companies and Their Environment pp. 5.2.3. New Approach to Investor Relations - Accounting for Investor Expectations in Enterprise Value Management pp. 5.3. Conclusions pp. Mariusz Trzaskowski Chapter 6. Capital Accumulation by China and India and Its Influence on the Global Economy pp. 6.1. Transformations of Chinese and Indian Economies in the era of Market Reforms pp. 6.1.1. Chinese Explosion pp. 6.1.2. Changes in India pp. 6.2. Capital Mobilisation and Valuation pp. 6.2.1. Capital Market in China pp. 6.2.2. Capital Market in India pp. 6.2.3. Mobilisation through IPOs pp. 6.2.4. Financial Systems pp. 6.3. Capital Flows in China and India pp. 6.3.1. New Silk Road pp. 6.3.2. Financial Assets pp. 6.3.3. Changes in Foreign Currency Reserves pp. 6.3.4. Global Economic Consequences pp. 6.3.5. Global Capital Flows pp. 6.3.6. Foreign Direct Investments pp. 6.3.7. India, China and the Global Financial System pp. 6.4. Crisis in India and China pp. 6.5. Conclusions pp. Marek Panfil Chapter 7. Globalisation of Venture Capital Investments pp. 7.1. History of Venture Capital Development pp. 7.2. History of Venture Capital Globalisation pp. 7.3. Venture Capital Globalisation - Quantitative Approach pp. 7.3.1 USA pp. 7.3.2. Europe pp. 7.3.3. China pp. 7.4. Global Trends in Venture Capital Investments pp. 7.5. Conclusions pp. Dorota Ciesielska Chapter 8. Services Offshoring and Foreign Direct Investment pp. 8.1. Characteristics of Services Offshoring pp. 8.2. Reasons for the Development and the Scope of Offshoring pp. 8.3. Offshoring - the Extent of the Phenomenon pp. 8.4. Foreign Direct Investment pp. 8.5. General Electric as an Offshoring Pioneer pp. 8.6. Sources of Success of Indian Global Corporations pp. 8.7. Conclusions pp. Małgorzata Grotte Chapter 9. Migrant Remittances in Times of Financial Crisis pp. 9.1. Introduction pp. 9.2. Migrant Remittances and other Financial Flows, Scale and Significance pp. 9.2.1. The Scale of Remittance Inflows pp. 9.2.2. Remittances versus Other International Financial Flows pp. 9.3. Impact of Remittances on Recipient Economies pp. 9.3.1. Macro-Level Impact pp. 9.3.2. Household-Level Perspective pp. 9.4. Perspectives pp. 9.4.1. Impact of International Financial Crisis pp. 9.4.2. Changing Patterns of Migration pp. 9.4.3. Remittances' Transfer Costs and Technologies pp. 9.5. Conclusions pp. Wojciech Potocki Chapter 10. Mechanisms Shaping Crude Oil Prices pp. 10.1. Crude Oil Prices in Retrospect pp. 10.2. Theory of Exhaustible Resources vs. Reality and Non-Structural Models pp. 10.2.1. Crude Oil Price and Consumption: Hotelling Rule pp. 10.2.2. Price and Consumption in Reality pp. 10.2.3. Explanation of Discrepancies pp. 10.2.4. Possibilities of Forecasting Crude Oil Prices pp. 10.2.5. Non-Structural Models pp. 10.3. Model of Short-Term Market Equilibrium pp. 10.4. Crude Oil on the Future Markets pp. 10.4.1. Crude Oil Prices Equilibrium Model on the Futures Market pp. 10.4.2. Equilibrium Model with the Use of Option Valuation pp. 10.4.3. Possibilities of Forecasting Crude Oil Price Trend Reversals on the Future Markets pp. 10.5. Conclusions pp. References pp. Contributors pp. 209
|