The Development Of Domestic Bond Markets Interpreting The Mexican Experience

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Guidance Note For Developing Government Local Currency Bond Markets

Author : International Monetary Fund,World Bank
Publisher : International Monetary Fund
Page : 157 pages
File Size : 42,6 Mb
Release : 2021-03-12
Category : Business & Economics
ISBN : 9781513573922

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Guidance Note For Developing Government Local Currency Bond Markets by International Monetary Fund,World Bank Pdf

This guidance note was prepared by International Monetary Fund (IMF) and World Bank Group staff under a project undertaken with the support of grants from the Financial Sector Reform and Strengthening Initiative, (FIRST).The aim of the project was to deliver a report that provides emerging market and developing economies with guidance and a roadmap in developing their local currency bond markets (LCBMs). This note will also inform technical assistance missions in advising authorities on the formulation of policies to deepen LCBMs.

Emerging Capital Markets and Globalization

Author : Augusto de la Torre,Sergio Schmukler
Publisher : World Bank Publications
Page : 228 pages
File Size : 43,5 Mb
Release : 2006-10-20
Category : Business & Economics
ISBN : 0821365444

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Emerging Capital Markets and Globalization by Augusto de la Torre,Sergio Schmukler Pdf

Back in the early 1990s, economists and policy makers had high expectations about the prospects for domestic capital market development in emerging economies, particularly in Latin America. Unfortunately, they are now faced with disheartening results. Stock and bond markets remain illiquid and segmented. Debt is concentrated at the short end of the maturity spectrum and denominated in foreign currency, exposing countries to maturity and currency risk. Capital markets in Latin America look particularly underdeveloped when considering the many efforts undertaken to improve the macroeconomic environment and to reform the institutions believed to foster capital market development. The disappointing performance has made conventional policy recommendations questionable, at best. 'Emerging Capital Markets and Globalization' analyzes where we stand and where we are heading on capital market development. First, it takes stock of the state and evolution of Latin American capital markets and related reforms over time and relative to other countries. Second, it analyzes the factors related to the development of capital markets, with particular interest on measuring the impact of reforms. And third, in light of this analysis, it discusses the prospects for capital market development in Latin America and emerging economies and the implications for the reform agenda.

Global Waves of Debt

Author : M. Ayhan Kose,Peter Nagle,Franziska Ohnsorge,Naotaka Sugawara
Publisher : World Bank Publications
Page : 403 pages
File Size : 51,7 Mb
Release : 2021-03-03
Category : Business & Economics
ISBN : 9781464815454

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Global Waves of Debt by M. Ayhan Kose,Peter Nagle,Franziska Ohnsorge,Naotaka Sugawara Pdf

The global economy has experienced four waves of rapid debt accumulation over the past 50 years. The first three debt waves ended with financial crises in many emerging market and developing economies. During the current wave, which started in 2010, the increase in debt in these economies has already been larger, faster, and broader-based than in the previous three waves. Current low interest rates mitigate some of the risks associated with high debt. However, emerging market and developing economies are also confronted by weak growth prospects, mounting vulnerabilities, and elevated global risks. A menu of policy options is available to reduce the likelihood that the current debt wave will end in crisis and, if crises do take place, will alleviate their impact.

The Political Economy of Emerging Markets

Author : J. Santiso
Publisher : Springer
Page : 268 pages
File Size : 41,7 Mb
Release : 2003-08-22
Category : Political Science
ISBN : 9781403973788

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The Political Economy of Emerging Markets by J. Santiso Pdf

This book takes a cross-disciplinary look at the financial markets of emerging markets in Latin America. The author wants to disassemble the black box that is the financial market: what are the motivations and interests of the various actors, both institutional and individual?; How do these interact with each other?; How does this information help us understand the Mexican crisis in the 90s and the current crisis in Argentina? The author has conducted extensive interviews with brokers, asset managers, economists, strategists, and analysts in the US, UK, Europe, and Latin America, providing significant material for this study.

Restructuring the National Economy

Author : Lee-Jay Cho,Yoon Hyung Kim,Chung H. Lee
Publisher : University of Hawaii Press
Page : 480 pages
File Size : 49,9 Mb
Release : 2001
Category : Business & Economics
ISBN : STANFORD:36105112602276

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Restructuring the National Economy by Lee-Jay Cho,Yoon Hyung Kim,Chung H. Lee Pdf

Increasing globalization in the twenty-first century will present South Korea with many new challenges. Most of its domestic markets will become increasingly integrated into world markets, and many of its firms will be competing with global players, both at home and abroad. How successful will Korea be in meeting these challenges of globalization? Will it need to restructure its economy with new institutions better suited for the world of globalization? If so, what are the models that Korea should follow? Contributors attempt to answer some of these questions relating to globalization.

1993 World Economic and Financial Surveys

Author : International Monetary Fund
Publisher : International Monetary Fund
Page : 120 pages
File Size : 45,5 Mb
Release : 1993-01-01
Category : Business & Economics
ISBN : 9781451938906

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1993 World Economic and Financial Surveys by International Monetary Fund Pdf

This paper discusses systematic issues in international finance explained in the International Capital Markets report. The paper describes that the nature and extent of recent banking problems in several industrial countries along with the policy responses to those problems. It is observed that balance sheet problems in banking are widespread among the major industrial countries. The paper also analyses recent activity in the European currency unit bond and exchange markets, and reviews developments in the private financing of developing countries and discusses several issues raised by the recent experience, including the broadening of the investor base for developing country securities, the special role played by regional financial centers in East and Southeast Asia, and the systemic implications of the evolving pattern of developing country financing. A key influence on international capital movements in recent years was the rising international diversification of investment portfolios, which is generally believed to have increased in response to the liberalization of exchange and capital controls in many industrial countries in the 1970s and 1980s.

Local Currency Bond Markets - A Diagnostic Framework

Author : World Bank,International Monetary Fund,Inter-Secretariat Working Group on National Accounts,European Bank for Reconstruction and Development
Publisher : International Monetary Fund
Page : 40 pages
File Size : 50,6 Mb
Release : 2013-07-09
Category : Business & Economics
ISBN : 9781498341523

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Local Currency Bond Markets - A Diagnostic Framework by World Bank,International Monetary Fund,Inter-Secretariat Working Group on National Accounts,European Bank for Reconstruction and Development Pdf

In November 2011, the G-20 endorsed an action plan to support the development of local currency bond markets (LCBM). International institutions—the IMF, the World Bank, the EBRD, and the OECD—were asked to draw on their experience to develop a diagnostic framework (DF) to identify general preconditions, key components, and constraints for successful LCBM development. The objective is to provide a tool for analyzing the state of development and efficiency of local currency bond markets. The application of the DF is expected to be flexible, bearing in mind that the potential for LCBM development depends on economic size, financing needs, and stage of economic development.

Securities Clearance and Settlement Systems

Author : Mario Guadamillas,Robert Keppler
Publisher : World Bank Publications
Page : 44 pages
File Size : 48,9 Mb
Release : 2001
Category : Banks and banking
ISBN : 8210379456XXX

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Securities Clearance and Settlement Systems by Mario Guadamillas,Robert Keppler Pdf

How to assess securities clearance and settlement systems, based on international standards and best practices.

Living with Debt

Author : Eduardo Borensztein
Publisher : David Rockefeller Center for Latin American Studies
Page : 344 pages
File Size : 47,9 Mb
Release : 2006
Category : Business & Economics
ISBN : UCSC:32106018966934

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Living with Debt by Eduardo Borensztein Pdf

This book focuses on how to manage sovereign debt safely and effectively. The report traces the history of sovereign borrowing in Latin America, releases a new data set on public debt, and analyzes debt's evolution, highlighting the recent trend toward higher domestic debt and lower external borrowing.

Bondweek

Author : Anonim
Publisher : Unknown
Page : 680 pages
File Size : 44,5 Mb
Release : 1993
Category : Bonds
ISBN : UOM:35128001526647

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Bondweek by Anonim Pdf

Managing Elevated Risk

Author : Iwan J. Azis,Hyun Song Shin
Publisher : Springer
Page : 124 pages
File Size : 48,8 Mb
Release : 2014-12-11
Category : Business & Economics
ISBN : 9789812872845

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Managing Elevated Risk by Iwan J. Azis,Hyun Song Shin Pdf

This book discusses the risks and opportunities that arise in Emerging Asia given the context of a new environment in global liquidity and capital flows. It elaborates on the need to ensure financial and overall economic stability in the region through improved financial regulation and other policy measures to minimize the emergent risks. "Managing Elevated Risk: Global Liquidity, Capital Flows, and Macroprudential Policy—An Asian Perspective" also explores the range of policy options that may be deployed to address the impact of global liquidity on domestic financial and socio-economic conditions including income inequality. The book is primarily aimed at policy makers, financial market regulators and supervisory agencies to help them improve national regulatory systems and to promote harmonization of national regulations and practices in line with global standards. Scholars and researchers will also gain important information and knowledge about the overall impacts of changing global liquidity from the book.

Decentralized Development in Latin America

Author : Paul Lindert,Otto Verkoren
Publisher : Springer Science & Business Media
Page : 216 pages
File Size : 45,5 Mb
Release : 2010-03-02
Category : Social Science
ISBN : 9789048137398

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Decentralized Development in Latin America by Paul Lindert,Otto Verkoren Pdf

Much of the scholarly and professional literature on development focuses either on the ‘macro’ level of national policies and politics or on the ‘micro’ level of devel- ment projects and household or community socio-economic dynamics. By contrast, this collection pitches itself at the ‘meso’ level with a comparative exploration of the ways in which local institutions – municipalities, local governments, city authorities, civil society networks and others – have demanded, and taken on, a greater role in planning and managing development in the Latin American region. The book’s rich empirical studies reveal that local institutions have engaged upwards, with central authorities, to shape their policy and resource environments and in turn, been pressured from ‘below’ by local actors contesting the ways in which the structures and processes of local governance are framed. The examples covered in this volume range from global cities, such as Mexico and Santiago, to remote rural areas of the Bolivian and Brazilian Amazon. As a result the book provides a deep understanding of the diversity and complexity of local governance and local development in Latin America, while avoiding the stereotyped claims about the impact of globalisation or the potential benefits of decentralisation, as frequently stated in less empirically grounded analysis.