What are the constraints that have stalled EMs efforts to reuse their securities in international financial centers? We discuss the economics of collateral re-use and the present institutional structure in Asian and Latin American countries. Our empirical investigation suggests pledgeability...

The heated debates over the QE tapering and the Fed government shutdown in the US suggest that there will be many obstacles on the path to the global economic recovery. In particular, uncertainties over the timing of the QE tapering might set off a financial market tsunami with turbulent capital...

What are the constraints that have stalled EMs efforts to reuse their securities in international financial centers? We discuss the economics of collateral re-use and the present institutional structure in Asian and Latin American countries. Our empirical investigation suggests pledgeability...