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The Systemic Regulation of Credit Rating Agencies and Rated Markets

Sy, Amadou N. R. - International Monetary Fund (IMF) - 2009

Credit ratings have contributed to the current financial crisis. Proposals to regulate credit rating agencies focus on micro-prudential issues and aim at reducing conflicts of interest and increasing transparency and competition. In contrast, this paper argues that macro-prudential regulation is...

Persistent link: https://www.econbiz.de/10008528614

A Framework for Financial Market Development

Chami, Ralph; Sharma, Sunil; Fullenkamp, Connel - International Monetary Fund (IMF) - 2009

The paper proposes a framework for examining the process of financial market development. The framework, consistent with the functional view of financial system design, is anchored in studying the incentives facing the key players in financial markets-borrowers, lenders, liquidity providers, and...

Persistent link: https://www.econbiz.de/10008528687

The Derivatives Market in South Africa; Lessons for Sub-Saharan African Countries

Adelegan, Olatundun Janet - International Monetary Fund (IMF) - 2009

This paper examines the role of the derivatives market in South Africa and provides policy options for promoting the development of derivatives markets in sub-Saharan Africa. South Africa's derivatives market has grown rapidly in recent years, supporting capital inflows and helping market...

Persistent link: https://www.econbiz.de/10008528705

Convergence in institutions and market outcomes: cross-country and time-series evidence from the business environment and enterprise performance surveys in transition economies

Mitra, Pradeep; Muravyev, Alexander; Schaffer, Mark E. - Economics Research, World Bank Group - 2009

This paper uses firm-level data from the Business Environment and Enterprise Performance Surveys to study the process of convergence of transition countries with developed market economies. The study focuses on competition and market structure, finance and the structure of lending to firms, and...

Persistent link: https://www.econbiz.de/10005106885

An introduction to value-at-risk

Choudhry, Moorad; Wong, Max - 2013 - Fifth edition

Persistent link: https://www.econbiz.de/10013546861

An introduction to value-at-risk

Choudhry, Moorad - 2013 - Fifth edition

-friendly look at the concept of VaR and its different estimation methods, and is aimed specifically at newcomers to the market or … present this concise yet in-depth coverage of VaR, set in the context of risk management as a whole. Topics covered include …: Defining value-at-risk Variance-covariance methodology Portfolio VaR Credit risk and credit VaR Stressed VaR Critique and VaR …