International Financial Intermediation

This excellent study is something between a sophisticated primer and a condensed handbook. It explains very clearly what the internationalization of banking and finance means, and examines its extent and the reasons it has developed. The advantages and disadvantages of the new situation-and what is yet to come-are neatly sketched, along with the policy problems for national governments and international bodies. The book summarizes a great deal of research by others, but the clear-sighted Mr. Bryant of Brookings is firmly in control.