A report prepared for EMEAP by Marlene Amstad, Steven Kong, Frank Packer and Eli Remolona at the request of Mr Grant Spencer, Deputy Governor of the Reserve Bank of New Zealand and Chair of the EMEAP Working Group on Financial Markets.The eight local currency bond markets in which the Asian Bond...

The paper provides an empirical analysis of factors affecting the use of capital market instruments for financing infrastructure public-private partnership (PPP) projects. The findings of the paper contain useful policy guidance as the data provides some evidence to suggest that banks play a...

When large numbers of people are enabled to travel rapidly around the country, will it affect information production in capital markets? We study a government-directed buildout of high-speed rails (HSR) and find that after being connected to the HSR network, firms experience increased...

This paper examines the impact of the public's expectation of a political event on global financial markets. Using the setting of the UK referendum on EU membership, we show that an increase in the likelihood of Brexit led to lower stock prices and higher market implied volatility. Furthermore,...

Investment in infrastructure for increasing trade and connectivity in South Asia and Southeast Asia has been impacted by a reduction in commercial bank participation in project financing, which has significantly increased the role of multilateral financial institutions and export credit...

Ensuring the free movement of capital is a crucial element of European integration, which has to rely on the political will of countries on the one hand, and their respective infrastructure - on the other. Reasoning of the assessment methods to evaluate the progress on integration of securities...

As India is projected to be the world's most populous country by 2025, the growing needs of the economy, with expanding population, in the recent years have placed intense stress on physical infrastructure. In order to meet the deficit in the provision of infrastructure, mid-term appraisal of...

Investment in infrastructure for increasing trade and connectivity in South Asia and Southeast Asia has been impacted by a reduction in commercial bank participation in project financing, which has significantly increased the role of multilateral financial institutions and export credit...

This paper examines the relationship between infrastructure investment activity, capital market development, the role of public institutions and economic development in the Asia Pacific. It adopts a review approach drawing on empirical evidence over recent decades. Infrastructure is shown to be...

We discuss past performance and future challenges for the countries of Central and Eastern Europe (CEE). We highlight the successful convergence process of those countries, not least thanks to their integration into European and global value chains. As the external environment changes, so...