Keith Pilbeam’s “International Finance” is a widely respected textbook used in universities and colleges around the world for courses on the subject. Downloading a digital copy of the book, legally, usually involves purchasing it through online retailers like Amazon Kindle, Google Play Books, or directly from the publisher, Palgrave Macmillan. You might also find it through university library databases if you are a student or faculty member at an institution with a subscription.
Pilbeam’s text is valuable for its comprehensive coverage of the key topics in international finance. It typically delves into areas like:
- Exchange Rate Determination: Analyzing the factors that influence exchange rates, including purchasing power parity, interest rate parity, and balance of payments models. It explores both fixed and floating exchange rate systems.
- The Foreign Exchange Market: Detailing the structure and function of the FX market, including spot rates, forward rates, hedging, and speculation. It also examines the role of different market participants.
- International Monetary System: Discussing the evolution of the international monetary system from the gold standard to Bretton Woods and the current floating exchange rate regime. It often includes analysis of the role of international institutions like the IMF.
- Balance of Payments: Explaining the components of the balance of payments account and its relationship to a country’s exchange rate and economic performance.
- International Investment: Covering foreign direct investment (FDI), portfolio investment, and the motivations behind cross-border investment flows. It includes analysis of the impact of these flows on host and home countries.
- International Banking and Financial Markets: Exploring the operations of international banks, Eurocurrency markets, and the increasing globalization of financial markets.
- Currency Risk Management: Providing strategies for hedging against currency risk, including the use of forward contracts, futures, options, and other derivative instruments.
A key strength of Pilbeam’s book is its blend of theory and practical application. It uses real-world examples and case studies to illustrate the concepts being discussed, making it easier for students to understand the complexities of international finance. It also often incorporates current events and policy debates, keeping the material relevant and engaging.
Different editions of the book will exist, so make sure you’re downloading the version recommended by your instructor or the most current edition if you are studying independently. Newer editions usually include updated data, recent developments in the field, and revised chapters to reflect the evolving global financial landscape.
In summary, Keith Pilbeam’s “International Finance” provides a strong foundation in the principles and practices of international finance. Obtaining a legal copy, either in print or digital format, will offer students and professionals a valuable resource for understanding this important field.