Financial innovations, accelerated by ICT, have increasingly produced wide-ranging impacts on economic activities; extensive improvement in market efficiency on the one hand, but market volatility, excessive leverage, transfigured money, complexity of financial products/services, laborious risk evaluation, industrial reshuffle, etc. on the other.
Their impacts loom dark over policy management for financial soundness and protection of depositors, investors and insurance policy holders.

This course focuses on changes in financial intermediation infrastructure, financial regulatory/and managerial issues critically in view of the international financial framework.

• Heffernan, "Modern Banking" 2005, Wiley
• Mishkin,"The Economics of Money, Banking, and Financial Markets" (seventh edition), 2007, Addison-Wesley
• Brealey and others, "Principles of Corporate Finance" (8th edition) 2006, McGraw-Hill (「コーポレートファイナンス」上･下、日経BP)
• Charles R. Morris "The Trillion Dollar Meltdown" 2008, PublicAffairs
• Cohen, "The Future of Money" 2004, Princeton University Press
• 岩村充「企業金融講義」2005年、東洋経済
• 酒井良清･前多康男「金融システムの経済学」2003年、東洋経済
• Various papers of IMF, World Bank, BIS, ADB, EBRD, IOSCO and others

• www.imf.org/
• www.bis.org/
• www.fsa.go.jp/

and websites for OECD, World Bank, IFAC and PIOB