Is it possible that the insurance and reinsurance industries cannot handle a major catastrophe? Ten years ago, the notion that the overall cost of a single catastrophic event might exceed 10 billion was unthinkable. With ever increasing property-casualty risks and unabated growth in hazard-prone...

Over the past decade, foreign direct investment (FDI) around the world has nearly tripled, and with this surge have come dramatic shifts in FDI flows. In Foreign Direct Investment, distinguished economists look at changes in FDI, including historical trends, specific country experiences,...

This timely volume addresses three important recent trends in the internationalization of United States equity markets: extensive market integration through foreign investment and links among stock prices around the world; increasing securitization as countries such as Japan come to rely more...