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issue of critical size can be addressed through an integrated regional market for local currency bonds that provides greater …
Persistent link: https://www.econbiz.de/10009151210
Persistent link: https://www.econbiz.de/10005590943
gains from hedging long-term bonds with interest rate derivatives. These bonds can help develop interest-rate derivative … interest-rate derivative markets, and their use by governments. Their stabilizing properties imply that, when bond prices fall …This paper analyzes the price stabilizing properties of puttable and extendible bonds, their potential to help develop …
Persistent link: https://www.econbiz.de/10005826508
Persistent link: https://www.econbiz.de/10005824821
This paper presents the primary institutions and economic policies that have led to Chile’s remarkable record of stability and growth over the past twenty years. The core of this policy stance is the combination of fiscal discipline and an open trade policy regime, together with carefully...
Persistent link: https://www.econbiz.de/10005767351
The objective of this paper is to discuss the key issues relating to the development of local corporate bond markets …. We examine the requirements for local corporate bond market development, and compare and contrast experiences across both … risk pricing, the availability of reliable trading systems, and the development of hedging instruments are fundamental for …
Persistent link: https://www.econbiz.de/10005264116
This paper proposes an integrated and risk-based approach to the sequencing and coordination of reforms to develop domestic financial markets. The paper argues that there is a hierarchy of financial markets that reflects the complexity of risks in each market and the interlinkages among markets....
Persistent link: https://www.econbiz.de/10005768863
This paper surveys the foreign exchange markets, money and secondary government security markets, and stock exchanges in 107 smaller economy countries. The underdevelopment of these markets impedes risk transfer, monetary policy, corporate financing, and the capacity to absorb capital inflows....
Persistent link: https://www.econbiz.de/10011245902
Emerging European countries have made large strides in developing their local capital markets since the early-1990s. However, the rate of development has been widely disparate across countries and market segments, underpinned by the varying degrees of progress made in key areas such as...
Persistent link: https://www.econbiz.de/10005264095
The financial turmoil of the late 1990s prompted a broad search for tools and techniques for detecting and preventing financial crises, and more recent episodes of instability have high lighted the importance of continuous monitoring of financial systems as a tool for preventing crises. This...
Persistent link: https://www.econbiz.de/10005590915