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  • Cited by 15
Publisher:
Cambridge University Press
Online publication date:
September 2009
Print publication year:
2001
Online ISBN:
9780511493331

Book description

Hedge funds are among the most innovative and controversial of financial market institutions. Largely exempt from regulation and shrouded in secrecy, they are credited as having improved efficiency and add liquidity to financial markets, but also having severely destabilised markets following the Asian financial crisis and the near collapse of long-term capital management. De Brouwer presents a nuanced and balanced account to what is becoming an increasingly politicised and hysterical discussion of the subject. Part I explains the workings of hedge funds. Part II focuses on the activities of macro hedge funds and proprietary trading desks in East Asia in 1997 and 1998, with case study material from Hong Kong, Indonesia, Malaysia, Singapore, Australia and New Zealand. Part III of the book looks at the future of hedge funds, their role for institutional investors, and policy proposals to limit their destabilising effects.

Reviews

Review of the hardback:‘How to escape the maze of international financial crises? Do the overgrown hedges need to be trimmed back? De Brouwer’s book is a timely and useful contribution to the debate.’

Jeffrey Frankel - Harvard University

Review of the hardback:‘The definitive work on hedge funds. Although they are integral parts of today's global markets … a relatively small number of hedge funds,at times, could undermine the integrity of financial markets’

Professor Eisuke Sakakibara - Global Security Research Center, Keio University

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