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This paper provides a general equilibrium analysis of the trade effects of the formation of a currency union, and of its subsequent enlargement to include an economically dissimilar country. Furthermore, it investigates how economic dissimilarities among countries affect the magnitude of the trade effects fostered by a common currency. We show that sharing a common currency enhances the volume of bilateral trade among countries. However, the more economically dissimilar is an accession country, compared to the original members of a currency union, the smaller are the gains in trade that would follow the enlargement of a currency union.

Monetary unions --- Currency question --- Commerce --- Equilibrium (Economics) --- Econometric models. --- Trade --- Fiat money --- Free coinage --- Monetary question --- Scrip --- Common currencies --- Currency areas --- Currency unions --- Optimum currency areas --- Economics --- Business --- Transportation --- Currency crises --- Finance --- Finance, Public --- Legal tender --- Money --- Traffic (Commerce) --- Merchants --- Exports and Imports --- Labor --- Financial Aspects of Economic Integration --- Trade Policy --- International Trade Organizations --- Empirical Studies of Trade --- Wages, Compensation, and Labor Costs: General --- Trade: General --- International economics --- Labour --- income economics --- Plurilateral trade --- Trade balance --- Wages --- Imports --- International trade --- Balance of trade

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An assessment of the level of implementation of the International Organization of Securities Commissions (IOSCO) Principles in Nigeria was conducted as part of the International Monetary Fund (IMF)-World Bank Financial Sector Assessment Program (FSAP). The ongoing global financial crisis has reinforced the need for assessors to make a judgment about supervisory practices and to determine whether they are sufficiently effective. The assessment methodology provides a set of assessment criteria to be met in respect of each principle to achieve the designated benchmarks.

Business & Economics --- Economic History --- Securities --- Nigeria --- Economic conditions. --- Blue sky laws --- Capitalization (Finance) --- Investment securities --- Portfolio --- Scrip --- Securities law --- Underwriting --- Law and legislation --- Investments --- Investment banking --- Accounting --- Finance: General --- Investments: General --- Public Finance --- General Financial Markets: General (includes Measurement and Data) --- Public Administration --- Public Sector Accounting and Audits --- Auditing --- Finance --- Investment & securities --- Financial reporting, financial statements --- Management accounting & bookkeeping --- Capital markets --- Financial statements --- Securities markets --- Financial markets --- Financial institutions --- Public financial management (PFM) --- Capital market --- Financial instruments --- Finance, Public

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This paper provides an assessment of the level of implementation of the International Organization of Securities Commissions (IOSCO) Principles in Sweden’s securities market. The assessment has identified several significant weaknesses in the scope and effectiveness of securities market regulation. The Executive Board recommends licensing of insurance intermediaries under the Securities Market Act (SMA). The government should also reconsider its policy of attaching specific short-term project requirements to parliament’s annual budget allocation for Finansinspektionen (FI) initially and during the course of the financial year.

Securities --- Capital market --- Blue sky laws --- Capitalization (Finance) --- Investment securities --- Portfolio --- Scrip --- Securities law --- Underwriting --- Investments --- Investment banking --- Capital markets --- Market, Capital --- Finance --- Financial institutions --- Loans --- Money market --- Crowding out (Economics) --- Efficient market theory --- State supervision --- Law and legislation --- Finance: General --- Investments: General --- Industries: Financial Services --- General Financial Markets: General (includes Measurement and Data) --- Pension Funds --- Non-bank Financial Institutions --- Financial Instruments --- Institutional Investors --- Investment & securities --- Financial instruments --- Stock markets --- Mutual funds --- Securities markets --- Financial markets --- Stock exchanges --- Sweden

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Don´t Fix, Don´t Float is a book about credibility, or lack thereof. It deals with questions pertaining to international financial architecture from the perspective of developing countries, emerging markets and transition economies. Should the monetary authority fix the exchange rate of the national currency? Should it instead let the currency float in foreign exchange markets? What about bands, baskets and crawls between the fix and the float corners? Answering these questions is of significance to the national economy involved and, with regard to global finance, often beyond. In the same way that there may never be a pure float, even among key currencies, an instant fix does not provide a fast lane to credibility. Credibility is earned abroad as the development process reinforces institution building in monetary, financial and budgetary matters. Indeed, rules for budgetary adjustment (such as the zero deficit in Argentina or the EU Stability and Growth Pact) are necessary for any exchange-rate regime to deliver economic growth and development. In Don´t Fix, Don´t Float, the case for intermediate regimes is made for five country groups in Africa, Asia and Latin America. Developing countries, emerging markets and transition economies, together with the OECD area, are facing the consequences of a worsening global economic outlook. In this environment, the development perspective underlying Don’t Fix, Don’t Float is clearly essential.

Currency question -- Developing countries -- Congresses. --- Foreign exchange administration -- Developing countries. --- Foreign exchange rates -- Developing countries -- Congresses. --- Foreign exchange rates -- Developing countries. --- Foreign exchange rates -- Europe, Eastern -- Congresses. --- Foreign exchange rates. --- Foreign exchange rates --- Currency question --- International Finance --- Finance --- Business & Economics --- Exchange rates --- Fixed exchange rates --- Flexible exchange rates --- Floating exchange rates --- Fluctuating exchange rates --- Foreign exchange --- Rates of exchange --- Fiat money --- Free coinage --- Monetary question --- Scrip --- Rates --- Currency crises --- Finance, Public --- Legal tender --- Money --- International finance --- International monetary system --- International money --- International economic relations

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This open access book discusses firm valuation, which is of interest to economists, particularly those working in finance. Firm valuation comes down to the calculation of the discounted cash flow, often only referred to by its abbreviation, DCF. There are, however, different coexistent versions, which seem to compete against each other, such as entity approaches and equity approaches. Acronyms are often used, such as APV (adjusted present value) or WACC (weighted average cost of capital), two concepts classified as entity approaches. This book explains why there are several procedures and whether they lead to the same result. It also examines the economic differences between the methods and indicates the various purposes they serve. Further it describes the limits of the procedures and the situations they are best applied to. The problems this book addresses are relevant to theoreticians and practitioners alike.

Macroeconomics. --- Investment banking. --- Securities. --- Business mathematics. --- Macroeconomics/Monetary Economics//Financial Economics. --- Investments and Securities. --- Business Mathematics. --- Arithmetic, Commercial --- Business --- Business arithmetic --- Business math --- Commercial arithmetic --- Finance --- Mathematics --- Blue sky laws --- Capitalization (Finance) --- Investment securities --- Portfolio --- Scrip --- Securities --- Securities law --- Underwriting --- Investments --- Investment banking --- Banks and banking, Investment --- Investment banks --- Financial institutions --- Economics --- Law and legislation --- Firm valuation --- Cost of capital --- Weighted average cost of capital --- Insolvency and valuation --- Adjusted present value --- Accounting --- Taxation --- Audit --- Discounted cash flow --- Cash flows --- Asset pricing --- Equity and debt --- Flow to equity --- Total cash flow --- Financing --- Investment --- Leverage --- investments and securities