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It is widely believed that local currency bond markets (LCBMs) can promote financial stability in developing countries. For instance, they can help mitigate the currency and maturity mismatch that contributed to the outbreak of the Asian financial crisis of 1997-1998. In this paper, we...
Persistent link: https://www.econbiz.de/10011920074
It is widely believed that local currency bond markets (LCBMs) can promote financial stability in developing countries. For instance, they can help mitigate the currency and maturity mismatch that contributed to the outbreak of the Asian financial crisis of 1997–1998. In this paper, we...
Persistent link: https://www.econbiz.de/10012892024
Persistent link: https://www.econbiz.de/10012822175
Persistent link: https://www.econbiz.de/10012423815
This paper investigates whether the uncovered interest parity (UIP) will hold more firmly if the local currency bond markets (LCBMs) are more developed, and the presence of nonbank financial institutions (NBFIs) is expanded. Deviations in UIP decrease as LCBMs develop, while the patterns of the...
Persistent link: https://www.econbiz.de/10014254706
This paper investigates whether the uncovered interest parity (UIP) will hold more firmly if the local currency bond markets (LCBMs) are more developed, and the presence of nonbank financial institutions (NBFIs) is expanded. Deviations in UIP decrease as LCBMs develop, while the patterns of the...
Persistent link: https://www.econbiz.de/10013540710
Asia has run since the 1997–1998 Asian crisis. A country's current account surplus is, by definition, equal to its net …
Persistent link: https://www.econbiz.de/10010507271
The underdeveloped service sector in Asia has the potential to become a new engine of economic growth for developing … Asia, which has traditionally relied on export-oriented manufacturing to power its growth. The central objective of this … role of the service sector as an engine of growth in Asia. However, some Asian countries where the service sector is …
Persistent link: https://www.econbiz.de/10010507372
Persistent link: https://www.econbiz.de/10001975659
Developing Asia has traditionally relied on exports to the United States (US) and other industrialized countries for …
Persistent link: https://www.econbiz.de/10013142887