Financial Markets Volatility And Performance In Emerging Markets

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Financial Markets Volatility and Performance in Emerging Markets

Sebastian Edwards,Márcio G. P. Garcia
Financial Markets Volatility and Performance in Emerging Markets Book PDF

Author : Sebastian Edwards,Márcio G. P. Garcia
Publisher : University of Chicago Press
Page : 299 pages
File Size : 44,5 Mb
Release : 2008-09-15
Category : Business & Economics
ISBN : 9780226185040

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Financial Markets Volatility and Performance in Emerging Markets by Sebastian Edwards,Márcio G. P. Garcia Pdf

Capital mobility is a double-edged sword for emerging economies, as governments must weigh the benefits of investment against the potential economic costs and political consequences of currency crises, devaluations, and instability. Financial Markets Volatility and Performance in Emerging Markets addresses the delicate balance between capital mobility and capital controls as developing countries navigate the convoluted global network of private investors, hedge funds, large corporations, and international institutions such as the International Monetary Fund. A group of experts here examine rapidly globalizing financial markets with regard to capital flows and crises, domestic credit, international financial integration, and economic policy. Featuring detailed analyses and cross-national comparisons of countries such as Brazil, Argentina, Uruguay, and Korea, this book will shape economists’ and policymakers’ understanding of the effectiveness of restrictions on capital mobility in the world’s most fragile economies.

The Volatility of Capital Flows in Emerging Markets

Maria Sole Pagliari,Swarnali Ahmed Hannan
The Volatility of Capital Flows in Emerging Markets Book PDF

Author : Maria Sole Pagliari,Swarnali Ahmed Hannan
Publisher : International Monetary Fund
Page : 58 pages
File Size : 49,6 Mb
Release : 2017-03-07
Category : Business & Economics
ISBN : 9781475585254

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The Volatility of Capital Flows in Emerging Markets by Maria Sole Pagliari,Swarnali Ahmed Hannan Pdf

Capital flow volatility is a concern for macroeconomic and financial stability. Nonetheless, literature is scarce in this topic. Our paper sheds light on this issue in two dimensions. First, using quarterly data for 65 countries over the period 1970Q1-2016Q1, we construct three measures of volatility, for total capital flows and key instruments. Second, we perform panel regressions to understand the determinants of volatility. The measures show that the volatility of all instruments is prone to bouts, rising sharply during global shocks like the taper tantrum episode. Capital flow volatility thus remains a challenge for policy makers. The regression results suggest that push factors can be more important than pull factors in explaining volatility, illustrating that the characteristics of volatility can be different from those of the flows levels.

Emerging Market Volatility

Ms.Ratna Sahay,Mr.Vivek B. Arora,Mr.Athanasios V Arvanitis,Mr.Hamid Faruqee,Mr.Papa N'Diaye,Mr.Tommaso Mancini Griffoli
Emerging Market Volatility Book PDF

Author : Ms.Ratna Sahay,Mr.Vivek B. Arora,Mr.Athanasios V Arvanitis,Mr.Hamid Faruqee,Mr.Papa N'Diaye,Mr.Tommaso Mancini Griffoli
Publisher : International Monetary Fund
Page : 29 pages
File Size : 41,5 Mb
Release : 2014-10-02
Category : Business & Economics
ISBN : 9781484356005

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Emerging Market Volatility by Ms.Ratna Sahay,Mr.Vivek B. Arora,Mr.Athanasios V Arvanitis,Mr.Hamid Faruqee,Mr.Papa N'Diaye,Mr.Tommaso Mancini Griffoli Pdf

Accommodative monetary policies in advanced economies have spurred increased capital inflows into emerging markets since the global financial crisis. Starting in May 2013, when the Federal Reserve publicly discussed its plans for tapering unconventional monetary policies, these emerging markets have experienced financial turbulence at the same that their domestic economic activity has slowed. This paper examines their experiences and policy responses and draws broad policy lessons. For emerging markets, good macroeconomic fundamentals matter, and early and decisive measures to strengthen macroeconomic policies and reduce vulnerabilities help dampen market reactions to external shocks. For advanced economies, clear and effective communication about the exit from unconventional monetary policy can and did help later to reduce the risk of excessive market volatility. And for the global community, enhanced global cooperation, including a strong global financial safety net, offers emerging markets effective protection against excessive volatility.

International Mutual Funds, Capital Flow Volatility, and Contagion – A Survey

Mr.R. Gelos
International Mutual Funds Capital Flow Volatility and Contagion A Survey Book PDF

Author : Mr.R. Gelos
Publisher : International Monetary Fund
Page : 29 pages
File Size : 52,8 Mb
Release : 2011-04-01
Category : Business & Economics
ISBN : 9781455253319

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International Mutual Funds, Capital Flow Volatility, and Contagion – A Survey by Mr.R. Gelos Pdf

Gaining a better understanding of the behavior of international investors is key for informing the debate about the optimal response to capital flows and about reforms to the international financial architecture. In this context, recent research on the behavior of international mutual funds at the micro level has expanded our knowledge about the drivers of portfolio flows and the mechanisms behind the transmission of financial shocks across countries. This paper provides a brief survey of this literature, with a focus on the empirical evidence for emerging markets. Overall, the behavior of international mutual funds is complex and overly simplistic characterizations are misleading. However, there is broad-based evidence for momentum trading among funds. Moreover, funds tend to avoid opaque markets and assets, and this behavior becomes more pronounced during volatile times. Portfolio rebalancing mechanisms are clearly important in explaining contagion patterns, even in the absence of common macroeconomic fundamentals. From a surveillance point of view, this implies that monitoring the exposures of large investors at a micro level is crucial to assess vulnerabilities.

Trends in Emerging Markets Finance, Institutions and Money

Duc Khuong Nguyen ,Stéphane Goutte
Trends in Emerging Markets Finance Institutions and Money Book PDF

Author : Duc Khuong Nguyen ,Stéphane Goutte
Publisher : MDPI
Page : 250 pages
File Size : 50,7 Mb
Release : 2020-12-02
Category : Business & Economics
ISBN : 9783039364855

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Trends in Emerging Markets Finance, Institutions and Money by Duc Khuong Nguyen ,Stéphane Goutte Pdf

Since the waves of financial liberalization in the 1980s, emerging market economies have been accessible to foreign investors. Altogether, they contributed up to 43.8% of the global GDP in 2018, and many of them, such as China, India, Bangladesh, Philippines, Myanmar and Vietnam from 2010 to 2019, are among the fastest-growing economies in the world. Given the high economic growth, the assets issued by companies in emerging markets are viewed as a new set of investment opportunities for global investors and fund managers who seek to improve the risk-adjusted performance of their portfolios. In addition to their risky profile due to the lack of transparency as well as stable and matured institutions, their recent development path faces a number of challenges arising not only from the slow pace of economic reforms but also from their increased integration with the world. Geopolitical risks, the US–China trade wars, and rising policy uncertainty around the world are expected to reduce their growth potential and performance. This Special Issue dedicates special attention to the current dynamics of emerging financial markets, as well as their perspectives of development as a key driver for sustainable firms and economies. Accordingly, the focus is particularly placed on market integration and interdependence, valuations and risk management practices, and the financing means for inclusive growth.

Emerging Markets

Greg N. Gregoriou
Emerging Markets Book PDF

Author : Greg N. Gregoriou
Publisher : CRC Press
Page : 868 pages
File Size : 55,8 Mb
Release : 2009-06-26
Category : Business & Economics
ISBN : 1439804508

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Emerging Markets by Greg N. Gregoriou Pdf

Although emerging market economies consist of 50% of the global population, they are relatively unknown. Filling this knowledge gap, Emerging Markets: Performance, Analysis and Innovation compiles the latest research by noteworthy academics and money managers from around the world. With a focus on both traditional emerging markets and new areas, such as the Balkan, Middle East, and North African regions, it looks at how these markets can serve as drivers of portfolios and a significant force over the long term. This noteworthy collection sheds some light on what lies ahead for emerging markets with the most up-to-date research from academics and practitioners. It covers general issues in emerging markets and provides in-depth studies of regional markets experiencing transition, including the European Union, Latin America, and the Middle East. The book also explores Asian and Indian markets as well as financial instruments, such as bonds and funds, relative to these markets. It concludes with chapters on regulations, corporate governance, and corruption.

Emerging Markets and the Global Economy

Mohammed El Hedi Arouri,Sabri Boubaker,Duc Khuong Nguyen
Emerging Markets and the Global Economy Book PDF

Author : Mohammed El Hedi Arouri,Sabri Boubaker,Duc Khuong Nguyen
Publisher : Academic Press
Page : 927 pages
File Size : 52,6 Mb
Release : 2013-12-26
Category : Business & Economics
ISBN : 9780124115637

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Emerging Markets and the Global Economy by Mohammed El Hedi Arouri,Sabri Boubaker,Duc Khuong Nguyen Pdf

Emerging Markets and the Global Economy investigates analytical techniques suited to emerging market economies, which are typically prone to policy shocks. Despite the large body of emerging market finance literature, their underlying dynamics and interactions with other economies remain challenging and mysterious because standard financial models measure them imprecisely. Describing the linkages between emerging and developed markets, this collection systematically explores several crucial issues in asset valuation and risk management. Contributors present new theoretical constructions and empirical methods for handling cross-country volatility and sudden regime shifts. Usually attractive for investors because of the superior growth they can deliver, emerging markets can have a low correlation with developed markets. This collection advances your knowledge about their inherent characteristics. Foreword by Ali M. Kutan Concentrates on post-crisis roles of emerging markets in the global economy Reports on key theoretical and technical developments in emerging financial markets Forecasts future developments in linkages among developed and emerging economies

The Financial Landscape of Emerging Economies

Aswini Kumar Mishra,Vairam Arunachalam,Sanket Mohapatra,Dennis Olson
The Financial Landscape of Emerging Economies Book PDF

Author : Aswini Kumar Mishra,Vairam Arunachalam,Sanket Mohapatra,Dennis Olson
Publisher : Springer Nature
Page : 191 pages
File Size : 47,9 Mb
Release : 2020-11-25
Category : Business & Economics
ISBN : 9783030600082

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The Financial Landscape of Emerging Economies by Aswini Kumar Mishra,Vairam Arunachalam,Sanket Mohapatra,Dennis Olson Pdf

This volume presents current developments in the field of finance from an emerging markets perspective. Featuring most of the contributions presented at the second International Conference on Economics and Finance (ICEF-2020), Goa, India, this volume serves as a valuable forum for discussing financial performance and well-being, economic policy uncertainty, efficiency of commodity markets and various recent trends in the banking and financial sector. It provides an analysis of the current state of the financial sector and proposes solutions to challenging topics including bankruptcy, audit quality and liquidity crises. Popular topics such as cryptocurrency, stock market volatility and board governance are also covered.

Trading Fixed Income and FX in Emerging Markets

Dirk Willer,Ram Bala Chandran,Kenneth Lam
Trading Fixed Income and FX in Emerging Markets Book PDF

Author : Dirk Willer,Ram Bala Chandran,Kenneth Lam
Publisher : John Wiley & Sons
Page : 277 pages
File Size : 54,8 Mb
Release : 2020-10-26
Category : Business & Economics
ISBN : 9781119598992

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Trading Fixed Income and FX in Emerging Markets by Dirk Willer,Ram Bala Chandran,Kenneth Lam Pdf

A practitioner's guide to finding alpha in fixed income trading in emerging markets Emerging fixed income markets are both large and fast growing. China, currently the second largest economy in the world, is predicted to overtake the United States by 2030. Chinese fixed income markets are worth more than $11 trillion USD and are being added to global fixed income indices starting in 2019. Access for foreigners to the Indian fixed income market, valued at almost 1trn USD, is also becoming easier – a trend repeated in emerging markets around the world. The move to include large Emerging Market (EM) fixed income markets into non-EM benchmarks requires non-EM specialists to understand EM fixed income. Trading Fixed Income in Emerging Markets examines the principle drivers for EM fixed income investing. This timely guide suggests a more systematic approach to EM fixed income trading with a focus on practical trading rules on how to generate alpha, assisting EM practitioners to limit market-share losses to passive investment vehicles. The definitive text on trading EM fixed income, this book is heavily data-driven – every trading rule is thoroughly back-tested over the last 10+ years. Case studies help readers identify and benefit from market regularities, while discussions of the business cycle and typical EM events inform and optimise trading strategies. Topics include portfolio construction, how to apply ESG principles to EM and the future of EM investing in the realm of Big Data and machine learning. Written by practitioners for practitioners, this book: Provides effective, immediately-accessible tools Covers all three fixed income asset classes: EMFX, EM local rates and EM credit Thoroughly analyses the impact of the global macro cycle on EM investing Examines the influence of the financial rise of China and its fixed income markets Includes case studies of trades that illustrate how markets typically behave in certain situations The first book of its kind, Trading Fixed Income in Emerging Markets: A Practitioner’s Guide is an indispensable resource for EM fund managers, analysts and strategists, sell-side professionals in EM and non-EM specialists considering activity in emerging markets.

Emerging Stock Markets

Christopher Barry,John Peavy, III,Mauricio Rodriquez
Emerging Stock Markets Book PDF

Author : Christopher Barry,John Peavy, III,Mauricio Rodriquez
Publisher : Wiley
Page : 126 pages
File Size : 45,7 Mb
Release : 2000-04-14
Category : Business & Economics
ISBN : 094320545X

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Emerging Stock Markets by Christopher Barry,John Peavy, III,Mauricio Rodriquez Pdf

Emerging Stock Markets: Risk, Return, and Performance is a compendium of historical data currently available about the performance of securities in emerging markets. As a result, it will be an invaluable aid to the investor or investment manager trying to make informed decisions about investing in emerging market assets. The authors provide monthly stock return data for more than two dozen countries in the Emerging Markets Data Base maintained by the International Finance Corporation. Without such data, analysis of this fascinating asset class has been frustrated.

Volatility

Robert A. Schwartz,John Aidan Byrne,Antoinette Colaninno
Volatility Book PDF

Author : Robert A. Schwartz,John Aidan Byrne,Antoinette Colaninno
Publisher : Springer Science & Business Media
Page : 137 pages
File Size : 43,8 Mb
Release : 2010-11-18
Category : Business & Economics
ISBN : 9781441914743

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Volatility by Robert A. Schwartz,John Aidan Byrne,Antoinette Colaninno Pdf

Volatility is very much with us in today's equity markets. Day-to-day price swings are often large and intra-day volatility elevated, especially at market openings and closings. What explains this? What does this say about the quality of our markets? Can short-period volatility be controlled by better market design and a more effective use of electronic technology? Featuring insights from an international array of prominent academics, financial markets experts, policymakers and journalists, the book addresses these and other questions concerning this timely topic. In so doing, we seek deeper knowledge of the dynamic process of price formation, and of the market structure and regulatory environment within which our markets function. The Zicklin School of Business Financial Markets Series presents the insights emerging from a sequence of conferences hosted by the Zicklin School at Baruch College for industry professionals, regulators, and scholars. Much more than historical documents, the transcripts from the conferences are edited for clarity, perspective and context; material and comments from subsequent interviews with the panelists and speakers are integrated for a complete thematic presentation. Each book is focused on a well delineated topic, but all deliver broader insights into the quality and efficiency of the U.S. equity markets and the dynamic forces changing them.

An Introduction to the Microstructure of Emerging Markets

Jack D. Glen
An Introduction to the Microstructure of Emerging Markets Book PDF

Author : Jack D. Glen
Publisher : World Bank Publications
Page : 52 pages
File Size : 54,9 Mb
Release : 1994-01-01
Category : Business & Economics
ISBN : 0821331108

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An Introduction to the Microstructure of Emerging Markets by Jack D. Glen Pdf

IFC Discusssion Paper No. 24. Investors' interest in emerging markets has grown significantly in recent years because of potential high returns and the benefits of diversification. Despite this increased activity, there remains little information o

Macroeconomic Volatility, Institutions and Financial Architectures

J. Fanelli
Macroeconomic Volatility Institutions and Financial Architectures Book PDF

Author : J. Fanelli
Publisher : Springer
Page : 403 pages
File Size : 50,7 Mb
Release : 2008-01-17
Category : Business & Economics
ISBN : 9780230590182

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Macroeconomic Volatility, Institutions and Financial Architectures by J. Fanelli Pdf

The deregulation of domestic financial markets and the capital account in developing countries has frequently been associated with financial turmoil and macro volatility. The book analyzes the experiences of several countries, drawing implications for building development-friendly domestic and international financial architectures.

Volatility Spillovers and Contagion from Mature to Emerging Stock Markets

John Beirne
Volatility Spillovers and Contagion from Mature to Emerging Stock Markets Book PDF

Author : John Beirne
Publisher : Unknown
Page : 42 pages
File Size : 45,5 Mb
Release : 2009
Category : Stock exchanges
ISBN : IND:30000087928077

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Volatility Spillovers and Contagion from Mature to Emerging Stock Markets by John Beirne Pdf

This paper examines volatility spillovers from mature to emerging stock markets and tests for changes in the transmission mechanism-contagion-during turbulences in mature markets. Tri-variate GARCH-BEKK models of returns in global (mature), regional, and local markets are estimated for 41 emerging market economies (EMEs), with a dummy capturing parameter shifts during turbulent episodes. LR tests suggest that mature markets influence conditional variances in many emerging markets. Moreover, spillover parameters change during turbulent episodes. Conditional variances in most EMEs rise during these episodes, but there is only limited evidence of shifts in conditional correlations between mature and emerging markets.

Options for Volatile Markets

Richard Lehman,Lawrence G. McMillan
Options for Volatile Markets Book PDF

Author : Richard Lehman,Lawrence G. McMillan
Publisher : John Wiley & Sons
Page : 224 pages
File Size : 44,5 Mb
Release : 2011-08-09
Category : Business & Economics
ISBN : 9781118022269

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Options for Volatile Markets by Richard Lehman,Lawrence G. McMillan Pdf

Practical option strategies for the new post-crisis financial market Traditional buy-and-hold investing has been seriously challenged in the wake of the recent financial crisis. With economic and market uncertainty at a very high level, options are still the most effective tool available for managing volatility and downside risk, yet they remain widely underutilized by individuals and investment managers. In Options for Volatile Markets, Richard Lehman and Lawrence McMillan provide you with specific strategies to lower portfolio volatility, bulletproof your portfolio against any catastrophe, and tailor your investments to the precise level of risk you are comfortable with. While the core strategy of this new edition remains covered call writing, the authors expand into more comprehensive option strategies that offer deeper downside protection or even allow investors to capitalize on market or individual stock volatility. In addition, they discuss new offerings like weekly expirations and options on ETFs. For investors who are looking to capitalize on global investment opportunities but are fearful of lurking "black swans", this book shows how ETFs and options can be utilized to construct portfolios that are continuously protected against unforeseen calamities. A complete guide to the increased control and lowered risk covered call writing offers active investors and traders Addresses the changing investment environment and how to use options to succeed within it Explains how to use options with exchange-traded funds Understanding options is now more important than ever, and with Options for Volatile Markets as your guide, you'll quickly learn how to use them to protect your portfolio as well as improve its overall performance.