This article examines the issues and challenges involved for institutions, policy makers, and law-makers in less developed countries in their efforts to implement asset securitization techniques in their financial markets. Challenges and issues in the areas of market development, legislation,...

Key factors identified as contributing to the global financial crisis included the roles of financial accounting policies and credit rating agencies, and the combination of these factors in producing a continuing pro-cyclical destabilising effect on financial institutions. This article examines...

As one component in the determination of price caps for access to regulated gas pipelines under the National Access Code for Natural Gas Pipeline Systems (which is given legal effect through relevant State legislation), regulators utilise the CAPM to determine a 'reasonable' rate of return on...

This study examines the empirical relation between the yield spread of the term structure of interest rates and future economic activity in Australia. Results indicate that the term spread has significant power to predict real GDP growth but not nominal GDP growth. The term spread has more power...

In this paper we examine the information on inflation contained in the term spread of the Australian term structure in a model in which we allow the expected real term spread to vary with time. Previously, Mishkin (1990) assumed a constant expected real term spread in a similar inflation...

Distributional properties of emerging market returns may impact on investor ability and willingness to diversify. Investors may also place greater weighting on downside losses, compared to upside gains. Using individual equities in a range of emerging Asian markets, we investigate the potential...

This study examines the pattern of returns and volatility on Irish equity markets, over a period when the markets were deregulated. GARCH and GARCH-IN-MEAN models are applied to data from three study periods. Volatility spillovers from the London stock market are considered, providing a test for...