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Asian Equity Markets; Growth, Opportunities, and Challenges

Kramer, Charles Frederick; Purfield, Catriona; Oura, Hiroko - International Monetary Fund (IMF) - 2006

Asian equity markets have grown significantly in size since the early 1990s, driven by strong international investor inflows, growing regional financial integration, capital account liberalization, and structural improvements to markets. The development of equity markets provides a more...

Persistent link: https://www.econbiz.de/10005599719

Short-Run Pain, Long-Run Gain; The Effects of Financial Liberalization

Schmukler, Sergio L.; Kaminsky, Graciela Laura - International Monetary Fund (IMF) - 2003

We examine the short- and long-run effects of financial liberalization on capital markets. To do so, we construct a new comprehensive chronology of financial liberalization in 28 mature and emerging market economies since 1973. We also construct an algorithm to identify booms and busts in stock...

Persistent link: https://www.econbiz.de/10005826221

Financial Sector Reforms and Prospects for Financial Integration in Maghreb Countries

Sole, Juan; Sensenbrenner, Gabriel; Tahari, Amor; … - International Monetary Fund (IMF) - 2007

A healthy and dynamic financial sector is essential to achieving high and sustainable economic growth in the Maghreb region-Algeria, Libya, Mauritania, Morocco, and Tunisia. Financial integration within the Maghreb region will help deepen financial markets, increase their efficiency, and enhance...

Persistent link: https://www.econbiz.de/10005825882

Uganda; Selected Issues

International Monetary Fund (IMF); International … - 2009

This Selected Issues paper on Uganda discusses the progress toward harmonization of capital account regulations and capital market integration. A unified East African Community financial market would offer several benefits to the regional economy. It would expand the opportunities for savings...

Persistent link: https://www.econbiz.de/10011243570

Investorsâ€™ Risk Appetite and Global Financial Market Conditions

González-Hermosillo, Brenda - International Monetary Fund (IMF) - 2008

A structural vector autoregression model is developed to analyze the dynamics of bond spreads among a sample of mature … contribution on bond spreads from global market conditions (including funding liquidity, market liquidity, as well as credit and … changes in bond spreads over the sample, global market risk factors are fundamental driving forces during periods of stress …

Persistent link: https://www.econbiz.de/10005769174

Crisis Resolution; Next Steps

Kletzer, Kenneth; Eichengreen, Barry J.; Mody, Ashoka - International Monetary Fund (IMF) - 2003

of collective action clauses (CACs) in international bonds. This decision was shaped partly by Mexico's successful launch … of a bond subject to New York law but featuring CACs, and by subsequent issues with similar provisions from other … the future. It asks whether we can expect to see additional issuance by emerging markets of bonds featuring CACs, whether …

Persistent link: https://www.econbiz.de/10005599331

Policy Responses to Capital Flows in Emerging Markets

Pradhan, Mahmood; Balakrishnan, Ravi; Baqir, Reza; … - International Monetary Fund (IMF) - 2011

Staff Discussion Notes showcase the latest policy-related analysis and research being developed by individual IMF staff and are published to elicit comment and to further debate. These papers are generally brief and written in nontechnical language, and so are aimed at a broad audience...

Persistent link: https://www.econbiz.de/10010790479

What Determines Bond Market Development in Sub-Saharan Africa?

Adelegan, Olatundun Janet; Radzewicz-Bak, Bozena - International Monetary Fund (IMF) - 2009

This study empirically analyzes the determinants of bond market development in a cross section of 23 sub …-Saharan African (SSA) countries between 1990 and 2008. It considers the stage of development and the size of the bond market, as well … as the historical, structural, institutional and macroeconomic factors driving bond market development in SSA. The study …

Persistent link: https://www.econbiz.de/10008559281

Understanding the Growth of African Financial Markets

Andrianaivo, Mihasonirina; Yartey, Charles Amo - International Monetary Fund (IMF) - 2009

This paper examines empirically the determinants of financial market development in Africa with an emphasis on banking systems and stock markets. The results show that income level, creditor rights protection, financial repression, and political risk are the main determinants of banking sector...

Persistent link: https://www.econbiz.de/10008528658

How Private Creditors Fared in Emerging Debt Markets, 1970-2000

Zettelmeyer, Jeromin; Weder, Beatrice; Klingen, Christoph - International Monetary Fund (IMF) - 2004

bond. This reflects the combined effect of the 1980s debt crisis and much higher returns during 1989-2000. Annual returns … high-yield bonds. However, unlike returns on these bonds, emerging market debt returns do not seem significantly correlated …

Persistent link: https://www.econbiz.de/10005264003