Capital Markets Covid 19 And Policy Measures

Author : Khalid ElFayoumi,Martina Hengge
Publisher : International Monetary Fund
Page : 36 pages
File Size : 43,8 Mb
Release : 2021-02-12
Category : Health & Fitness
ISBN : 9781513569413

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Capital Markets, COVID-19 and Policy Measures by Khalid ElFayoumi,Martina Hengge Pdf

The COVID-19 pandemic and associated policy responses triggered a historically large wave of capital reallocation between markets and asset classes. Using high-frequency country-level data, this paper examines if and how the number of COVID cases, the stringency of the lockdown, and the fiscal and monetary policy response determined the dynamics of portfolio flows. Despite more dominant global factors, we find that these domestic factors played an important role, particularly for emerging markets and bond flows, contributing to a global wave of reallocation to safer asset classes. Our results indicate that rising domestic COVID cases had a strong positive effect on portfolio flows, which responded to an increase in financing needs in affected economies. Lockdown and fiscal policy measures also led to an increase in portfolio flows; however, evidence from the CDS market suggests that the increase in flows was dominated by supply forces, reflecting investors' preference for stronger policy responses. In contrast, we find that interest rate cuts led to a decline in portfolio flows as investors searched for higher yield. Finally, we show that COVID policy responses also affected countries' exposure to the global shock and that pre-COVID macroeconomic conditions, such as lower sovereign risk and higher trade openness, contributed to larger flows during the COVID episode.

Author : OECD
Publisher : OECD Publishing
Page : 142 pages
File Size : 53,9 Mb
Release : 2021-06-30
Category : Electronic
ISBN : 9789264796164

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Corporate Governance The Future of Corporate Governance in Capital Markets Following the COVID-19 Crisis by OECD Pdf

This report provides an evidence-based overview of developments in capital markets globally leading up to the COVID-19 crisis. It then documents the impact of the crisis on the use of capital markets and the introduction of temporary corporate governance measures.

Author : Çagatay Basarir,Burak Darici
Publisher : Rowman & Littlefield
Page : 227 pages
File Size : 54,9 Mb
Release : 2021-10-11
Category : Business & Economics
ISBN : 9781793645562

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Financial Systems, Central Banking and Monetary Policy During COVID-19 Pandemic and After by Çagatay Basarir,Burak Darici Pdf

The book makes an effort in investigating the present and future developments in the financial system, after the COVID-19 Pandemic. The effects of health issues and epidemic diseases influencing the country economies and expected to influence to effect in the future in terms of banking sector especially Central Banking will be discussed. People who take this work will be able to look at events from different windows about money, banking, Central Banks, historical transformation of the banking sector and the relations among the entire financial system and policy makers and also their current issues.

Author : Anonim
Publisher : Unknown
Page : 142 pages
File Size : 41,5 Mb
Release : 2021
Category : Electronic
ISBN : 9264397833

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The Future of Corporate Governance in Capital Markets Following the COVID-19 Crisis by Anonim Pdf

This report provides an evidence-based overview of developments in capital markets globally leading up to the COVID-19 crisis. It then documents the impact of the crisis on the use of capital markets and the introduction of temporary corporate governance measures. Although the structural effects of the crisis on capital markets and its interplay with corporate governance remain to be fully understood, this report presents trends that can be used to shape policies that will support the recovery and formulates key policy messages that will guide the upcoming review of the G20/OECD Principles of Corporate Governance. The report emphasises that the road to recovery will require well-functioning capital markets that can allocate substantial financial resources for long-term investments. It also highlights the need to adapt corporate governance rules and practices to the post-COVID-19 reality, particularly in areas such as increased ownership concentration; environmental, social and governance (ESG) risk management; digitalisation; insolvency; audit quality and creditor rights.

Author : Anonim
Publisher : Unknown
Page : 142 pages
File Size : 54,8 Mb
Release : 2021
Category : Electronic
ISBN : 926498349X

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The Future of Corporate Governance in Capital Markets Following the COVID-19 Crisis by Anonim Pdf

This report provides an evidence-based overview of developments in capital markets globally leading up to the COVID-19 crisis. It then documents the impact of the crisis on the use of capital markets and the introduction of temporary corporate governance measures. Although the structural effects of the crisis on capital markets and its interplay with corporate governance remain to be fully understood, this report presents trends that can be used to shape policies that will support the recovery and formulates key policy messages that will guide the upcoming review of the G20/OECD Principles of Corporate Governance. The report emphasises that the road to recovery will require well-functioning capital markets that can allocate substantial financial resources for long-term investments. It also highlights the need to adapt corporate governance rules and practices to the post-COVID-19 reality, particularly in areas such as increased ownership concentration; environmental, social and governance (ESG) risk management; digitalisation; insolvency; audit quality and creditor rights.

Author : International Monetary Fund. Monetary and Capital Markets Department,World Bank
Publisher : International Monetary Fund
Page : 10 pages
File Size : 46,8 Mb
Release : 2020-05-21
Category : Business & Economics
ISBN : 9781513545059

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COVID-19: The Regulatory and Supervisory Implications for the Banking Sector by International Monetary Fund. Monetary and Capital Markets Department,World Bank Pdf

This joint IMF-World Bank note provides a set of high-level recommendations that can guide national regulatory and supervisory responses to the COVID-19 pandemic and offers an overview of measures taken across jurisdictions to date.

Author : Oecd
Publisher : Org. for Economic Cooperation & Development
Page : 140 pages
File Size : 48,8 Mb
Release : 2021-06-30
Category : Electronic
ISBN : 926459275X

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The Future of Corporate Governance in Capital Markets Following the COVID-19 Crisis by Oecd Pdf

Author : Morris Goldstein,David Fokke Ihno Folkerts-Landau
Publisher : International Monetary Fund
Page : 65 pages
File Size : 45,5 Mb
Release : 1994
Category : Business & Economics
ISBN : 9781557754264

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International Capital Markets by Morris Goldstein,David Fokke Ihno Folkerts-Landau Pdf

The Effects of Fiscal Measures During COVID-19

Author : Sabri Boubaker,Duc Khuong Nguyen
Publisher : World Scientific
Page : 857 pages
File Size : 49,6 Mb
Release : 2022-05-18
Category : Business & Economics
ISBN : 9781800610798

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Financial Transformations Beyond The Covid-19 Health Crisis by Sabri Boubaker,Duc Khuong Nguyen Pdf

The COVID-19 global health pandemic, which started in late December 2019, forced many countries to adopt unusual measures such as social distancing and strict lockdowns. It changed many of our certainties and practices, including the foundations of the market-led version of capitalism, by bringing social and health considerations back to the forefront of firms' considerations, investors' strategies and governments' priorities. Under the effects of this unprecedented crisis, all sectors of finance and real economy have been seriously affected.Health uncertainties and their increasing consequences for human life and activities require stronger and faster actions to shape pathways towards sustainability and better resilience. The COVID-19 health crisis is a visible part of a greater iceberg: the World Health Organization has tracked, over recent years, a large number of epidemic events around the world, suggesting that many other similar diseases could appear and evolve in the future from epidemic to pandemic in a globalized world.Financial Transformations Beyond the COVID-19 Health Crisis was specifically designed to provide the readers with new results, recent findings and future outlook on the impacts of COVID-19 on financial markets, firm behaviors, and finance and investment strategies. It favors multidimensional perspectives and brings together conceptual, empirical and policy-oriented chapters, using quantitative and qualitative methods alike. This is a timely and comprehensive collection of theoretical, empirical and policy contributions from renowned scholars around the world, and provides the thoughts and insights required to rethink the financial sector in the event of new shocks of the same nature.

Author : Eva Su
Publisher : Unknown
Page : 27 pages
File Size : 45,9 Mb
Release : 2020
Category : COVID-19 (Disease)
ISBN : LCCN:2020253303

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Capital markets volatility and COVID-19 by Eva Su Pdf

Author : Bernadette Andreosso-O'Callaghan,Woosik Moon,Wook Sohn
Publisher : Routledge
Page : 214 pages
File Size : 47,9 Mb
Release : 2021-09-28
Category : Business & Economics
ISBN : 9781000461718

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Economic Policy and the Covid-19 Crisis by Bernadette Andreosso-O'Callaghan,Woosik Moon,Wook Sohn Pdf

This book offers an assessment of the different monetary and fiscal policy responses that have been implemented by national governments in major European and Asian countries faced with the Covid-19 crisis since 2020; it also deals with the case of the US experience as a benchmarking example. The book provides a comprehensive cross-country comparative study on health crisis management at the macroeconomic level. Its focus on monetary and fiscal policies across different countries in Asia, Europe and the USA makes it unique. Divided into three parts following a general introduction that sets the context of the study, the book deals with the case of the USA, EU and European countries as well as with that of key Asian countries. Of specific relevance is the European Union and euro-area contexts that serve as a framework to the different EU national monetary and fiscal policy responses. Each chapter deals with a specific country, including Italy and the UK in Europe and Singapore and South Korea in Asia, and covers the following topics: the extent of the outbreak of the public health crisis and its macroeconomic impact; the comparative examination of fiscal and monetary policy responses to both crises; and an overall assessment of the effectiveness of these policies along with the public health policy to mitigate the economic impact. Given the unprecedented nature of the Covid-19 crisis, anyone eager to know more about its macroeconomic impact and ensuing policies in a comparative framework will be keen to read this book. It will be essential reading to any researcher, policy maker and/or analyst working in the area of public policy and is also a unique contribution to the field of European studies, Asian studies and Comparative Economic Studies.

Author : Ms. Mitali Das,Ms. Gita Gopinath,Şebnem Kalemli-Özcan
Publisher : International Monetary Fund
Page : 54 pages
File Size : 47,9 Mb
Release : 2022-01-07
Category : Business & Economics
ISBN : 9781616358341

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Preemptive Policies and Risk-Off Shocks in Emerging Markets by Ms. Mitali Das,Ms. Gita Gopinath,Şebnem Kalemli-Özcan Pdf

We show that “preemptive” capital flow management measures (CFM) can reduce emerging markets and developing countries’ (EMDE) external finance premia during risk-off shocks, especially for vulnerable countries. Using a panel dataset of 56 EMDEs during 1996–2020 at monthly frequency, we document that countries with preemptive policies in place during the five year window before risk-off shocks experienced relatively lower external finance premia and exchange rate volatility during the shock compared to countries which did not have such preemptive policies in place. We use the episodes of Taper Tantrum and COVID-19 as risk-off shocks. Our identification relies on a difference-in-differences methodology with country fixed effects where preemptive policies are ex-ante by construction and cannot be put in place as a response to the shock ex-post. We control the effects of other policies, such as monetary policy, foreign exchange interventions (FXI), easing of inflow CFMs and tightening of outflow CFMs that are used in response to the risk-off shocks. By reducing the impact of risk-off shocks on countries’ funding costs and exchange rate volatility, preemptive policies enable countries’ continued access to international capital markets during troubled times.

Author : Mr. Tobias Adrian,Mr. Fabio M Natalucci,Mahvash S Qureshi
Publisher : International Monetary Fund
Page : 27 pages
File Size : 45,5 Mb
Release : 2022-12-16
Category : Business & Economics
ISBN : 9798400223532

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Macro-Financial Stability in the COVID-19 Crisis: Some Reflections by Mr. Tobias Adrian,Mr. Fabio M Natalucci,Mahvash S Qureshi Pdf

The global financial system has shown remarkable resilience during the COVID-19 pandemic, despite a sharp decline in economic activity and the initial financial market upheaval in March 2020. This paper takes stock of the factors that contributed to this resilience, focusing on the role of monetary and financial policies. In response to the pandemic-induced crisis, major central banks acted swiftly and decisively, cutting policy rates, introducing new asset purchase programs, providing liquidity support for the banking system, and creating several emergency facilities to sustain the flow of credit to the real economy. Several emerging market central banks also deployed asset purchase programs for the first time. While the pandemic crisis has underscored the importance of policies in preventing calamitous financial outcomes, it has also brought to the fore some unintended consequences of policy actions—in particular, of providing prolonged monetary policy support and applying regulation to specific segments of the financial system rather than taking a broader approach—that could undermine financial stability in the future.

Author : International Monetary Fund. Monetary and Capital Markets Department
Publisher : INTERNATIONAL MONETARY FUND
Page : 118 pages
File Size : 47,7 Mb
Release : 2020-10-23
Category : Business & Economics
ISBN : 1513554220

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Global Financial Stability Report, October 2020 by International Monetary Fund. Monetary and Capital Markets Department Pdf

Near-term global financial stability risks have been contained as an unprecedented policy response to the coronavirus (COVID-19) pandemic has helped avert a financial meltdown and maintain the flow of credit to the economy. For the first time, many emerging market central banks have launched asset purchase programs to support the smooth functioning of financial markets and the overall economy. But the outlook remains highly uncertain, and vulnerabilities are rising, representing potential headwinds to recovery. The report presents an assessment of the real-financial disconnect, as well as forward-looking analysis of nonfinancial firms, banks, and emerging market capital flows. After the outbreak, firms’ cash flows were adversely affected as economic activity declined sharply. More vulnerable firms—those with weaker solvency and liquidity positions and smaller size—experienced greater financial stress than their peers in the early stages of the crisis. As the crisis unfolds, corporate liquidity pressures may morph into insolvencies, especially if the recovery is delayed. Small and medium-sized enterprises (SMEs) are more vulnerable than large firms with access to capital markets. Although the global banking system is well capitalized, some banking systems may experience capital shortfalls in an adverse scenario, even with the currently deployed policy measures. The report also assesses the pandemic’s impact on firms’ environmental performance to gauge the extent to which the crisis may result in a reversal of the gains posted in recent years.

Author : Asian Development Bank
Publisher : Asian Development Bank
Page : 118 pages
File Size : 50,7 Mb
Release : 2021-12-01
Category : Business & Economics
ISBN : 9789292693237

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COVID-19 and the Finance Sector in Asia and the Pacific by Asian Development Bank Pdf

This guidance note examines the effects of the coronavirus disease (COVID-19) on real economies, particularly financial sectors, and the measures taken to ease the impact. It notes risks to financial stability, such as an anticipated rise in nonperforming assets. It also reviews short-term actions that can mitigate pressures on people, small and medium-sized enterprises (SMEs), banking and capital markets, and insurance and pensions. Lastly, it provides medium-term policy considerations for resilience in the post- COVID-19 period. These include establishing a framework for epidemic risk financing, buttressing financial stability and macroprudential measures, developing insurance markets for risk sharing and transfer solutions, improving SME financing, and fostering digital transformation in the finance sector.