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A Framework for Financial Market Development
Chami, Ralph; Sharma, Sunil; Fullenkamp, Connel - International Monetary Fund (IMF) - 2009
The paper proposes a framework for examining the process of financial market development. The framework, consistent with the functional view of financial system design, is anchored in studying the incentives facing the key players in financial markets-borrowers, lenders, liquidity providers, and...
Persistent link: https://www.econbiz.de/10008528687
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How Private Creditors Fared in Emerging Debt Markets, 1970-2000
Zettelmeyer, Jeromin; Weder, Beatrice; Klingen, Christoph - International Monetary Fund (IMF) - 2004
bond. This reflects the combined effect of the 1980s debt crisis and much higher returns during 1989-2000. Annual returns …We estimate ex post returns to emerging market debt by combining secondary-market prices with observed flows based on … high-yield bonds. However, unlike returns on these bonds, emerging market debt returns do not seem significantly correlated …
Persistent link: https://www.econbiz.de/10005264003
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The Corporation of Foreign Bondholders
Mauro, Paolo; Yafeh, Yishay - International Monetary Fund (IMF) - 2003
issued by foreign governments. The CFB played a key role during the heyday of international bond finance, 1870-1913, and in …, arranging successfully for many important debt restructurings, though failing persistently in a few cases. While a revamped …
Persistent link: https://www.econbiz.de/10005826518
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Republic of Korea; 2002 Article IV Consultation-Staff Report; Staff Statement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director...
International Monetary Fund (IMF); International … - 2003
This 2002 Article IV Consultation highlights that the economic growth of Korea rose to about 6 percent in 2002 from 3 percent in 2001. Buoyant consumption and residential construction spending underpinned the recovery beginning in late 2001. In 2002, exports rebounded strongly in spite of a...
Persistent link: https://www.econbiz.de/10005598815
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Republic of Korea; 2004 Article IV Consultation—Staff Report; Staff Statement; and Public Information Notice on the Executive Board Discussion
International Monetary Fund (IMF); International … - 2005
This 2004 Article IV Consultation highlights that from 1999 to 2002, Korea’s economy grew rapidly, by an average of 7¼ percent per year. But starting in 2003, the economy has begun to sputter. Growth suddenly stopped in the first half of the year, leapt ahead in the second half as...
Persistent link: https://www.econbiz.de/10005252883
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People’s Republic China; Detailed Assessment Report: CPSS-IOSCO Recommendations for Securities Settlement Systems and Central Counterparties
International Monetary Fund (IMF); International … - 2012
presented. The bond market comprises the interbank bond market, the exchange bond market, and the bank counter market. The two …
Persistent link: https://www.econbiz.de/10011244858
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Stress Testing of Financial Systems; An Overview of Issues, Methodologies, and FSAP Experiences
Peria, Maria Soledad Martinez; Majnoni, Giovanni; … - International Monetary Fund (IMF) - 2001
The paper has three objectives. After a general introduction to some of the concepts and basic techniques of stress testing, the paper gives an overview of some of the conceptual issues involved in evaluating risks at the aggregated level of financial systems. Second, this study provides a basic...
Persistent link: https://www.econbiz.de/10005248173
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The Use of Mortgage Covered Bonds
Avesani, Renzo G.; Ribakova, Elina; Pascual, Antonio Garcia - International Monetary Fund (IMF) - 2007
movements in covered bond prices can be used to analyze the credit developments of the underlying issuer and the quality of its …The rapid mortgage credit growth experienced in recent years in mature and emerging countries has raised some stability … concerns. Many European credit institutions in mature markets have reacted by increasing securitization, particularly via …
Persistent link: https://www.econbiz.de/10005826294
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Credit Stagnation in Latin America
Barajas, Adolfo; Steiner, Roberto - International Monetary Fund (IMF) - 2002
This study examines the recent marked slowdown in bank credit to the private sector in Latin America. Based on the …, changes in bank balance sheets are examined to determine whether the credit slowdown is merely a reflection of a slowdown in … recent studies of credit slowdowns in East Asia and Finland, the paper investigates possible causes for the slowdown in three …
Persistent link: https://www.econbiz.de/10005826373
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Transmission of Liquidity Shocks; Evidence From the 2007 Subprime Crisis
Hesse, Heiko; Frank, Nathaniel; González-Hermosillo, Brenda - International Monetary Fund (IMF) - 2008
We examine the linkages between market and funding liquidity pressures, as well as their interaction with solvency issues surrounding key financial institutions during the 2007 subprime crisis. A multivariate GARCH model is estimated in order to test for the transmission of liquidity shocks...
Persistent link: https://www.econbiz.de/10005769187