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This paper examines the motivation for, and the success of, regional efforts in Asia to promote local currency bond …
Persistent link: https://www.econbiz.de/10003928027
This paper examines the motivation for, and the success of, regional efforts in Asia to promote local currency bond …
Persistent link: https://www.econbiz.de/10013142018
The yield curve should reflect the time value of the money to maintain the maturity transformation of the banking system. A tightened gap between the 3 month and 10 year yields on the bond market indicates liquidity shortage. This paper analyzes such liquidity shortages at the Euro area as well...
Persistent link: https://www.econbiz.de/10013105941
We analyse the extent to which prices in the sovereign credit default swap (CDS) and bond markets reflect the same information on credit risk in the context of the European Monetary Union. The empirical analysis is based on the theoretical equivalence relation that should hold between the CDS...
Persistent link: https://www.econbiz.de/10012868898
Persistent link: https://www.econbiz.de/10003271060
characterized as unsound and unfit institutions for economic developmentas often argued in the context of post-crisis Asia …, one then needsto ask: what went wrong with the banking system in Asia? The second category of questions focuseson why …
Persistent link: https://www.econbiz.de/10011291591
Persistent link: https://www.econbiz.de/10011866572
Persistent link: https://www.econbiz.de/10012135949
constraints in acquiring local currency and foreign currency liquidity in the corporate sector in Asia as foreign banks withdrew … investments from Asia. Furthermore, Asia needs large long term capital (US$ 750 billion per year for 2010–2020) for developing … productive investments in Asia. To enhance corporate bond financing, it is important to examine factors that affect the effective …
Persistent link: https://www.econbiz.de/10010608142
Using a novel financial data-set which covers an extensive time period between 1995-2012, we test for the impact of currency denomination of bonds on Asian firms' survival probabilities. Our data span two financial crises: the 1997-98 Asian crisis and the 2007-09 global financial crisis. We find...
Persistent link: https://www.econbiz.de/10013014405