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The fast growth of China's economy has brought it not only to the center of the world's economic system but also to a … pressing challenges, not just for China but also for the world. We provide a comprehensive review of China's financial markets … management, and currency, focusing on their development, distinct characteristics and unique opportunities. While China …
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A large amount of activity in the financial sector occurs in secondary financial markets, where securities are traded among investors without capital flowing to firms. The stock market is the archetypal example, which in most developed economies captures a lot of attention and resources. Is the...
Persistent link: https://www.econbiz.de/10012940333
This paper measures valuation and strategic uncertainty in an over-the-counter market. The analysis uses a novel data set of price estimates that major financial institutions provide to a consensus pricing service. We model these institutions as Bayesian agents that learn from consensus prices...
Persistent link: https://www.econbiz.de/10012388763
Government interventions such as bailouts are often implemented in times of high uncertainty. Policymakers may therefore rely on information from financial markets to guide their decisions. We propose a model in which a policymaker learns from market activity and where market participants have...
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The 2007-8 global financial crisis has shown the failure of private finance to efficiently allocate capital to finance real capital development. The resilience and stability of Brazil’s financial system has received attention, since it navigated relatively smoothly through the Great Recession...
Persistent link: https://www.econbiz.de/10010462517
We describe and assess two dimensions of the current state of bond market development in developing Asia: the role of … bond markets in overall financial systems and a comparison of the salient features of bond market development in developing … Asia and other regions. We highlight key drivers and constraints of bond market development in developing Asia …
Persistent link: https://www.econbiz.de/10011346220