International Capital Markets August 2001
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International Capital Markets August 2001
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Author : Mr.Donald J. Mathieson
language : en
Publisher: International Monetary Fund
Release Date : 2001-08-22
International Capital Markets August 2001 written by Mr.Donald J. Mathieson and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2001-08-22 with Business & Economics categories.
This paper reports the on-off nature of emerging market access to international capital markets appears to have become a key characteristic of international financial markets. Emerging market borrowers have begun to adapt: when the market for US dollar-denominated bonds has closed, these borrowers turn to the syndicated loan markets, attempt to issue in bonds denominated in euro or yen, or issue in local-currency bond markets. In addition, they employ staff with extensive experience in investment banking and securities trading, exploit “windows of opportunity” to prefund their yearly financing requirement, and engage in debt exchanges to extend the maturity of their debt and avoid a bunching of maturities. The consolidation of financial institutions is driven by attempts to exploit economies of scale and scope, and technological advances such as the Internet and deregulation that facilitate universal banking activities are making it easier to reap such economies. Advances in technology are also transforming the securities trading industry.
International Capital Markets August 2001
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Author : Mr. Donald J. Mathieson
language : en
Publisher: International Monetary Fund
Release Date : 2001-08-22
International Capital Markets August 2001 written by Mr. Donald J. Mathieson and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2001-08-22 with Business & Economics categories.
This paper reports the on-off nature of emerging market access to international capital markets appears to have become a key characteristic of international financial markets. Emerging market borrowers have begun to adapt: when the market for US dollar-denominated bonds has closed, these borrowers turn to the syndicated loan markets, attempt to issue in bonds denominated in euro or yen, or issue in local-currency bond markets. In addition, they employ staff with extensive experience in investment banking and securities trading, exploit "windows of opportunity" to prefund their yearly financing requirement, and engage in debt exchanges to extend the maturity of their debt and avoid a bunching of maturities. The consolidation of financial institutions is driven by attempts to exploit economies of scale and scope, and technological advances such as the Internet and deregulation that facilitate universal banking activities are making it easier to reap such economies. Advances in technology are also transforming the securities trading industry.
International Capital Markets
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Author : Richard C. Williams
language : en
Publisher:
Release Date : 1981
International Capital Markets written by Richard C. Williams and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1981 with Banks and banking, International categories.
Globalization In Historical Perspective
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Author : Michael D. Bordo
language : en
Publisher: University of Chicago Press
Release Date : 2007-11-01
Globalization In Historical Perspective written by Michael D. Bordo and has been published by University of Chicago Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007-11-01 with Business & Economics categories.
As awareness of the process of globalization grows and the study of its effects becomes increasingly important to governments and businesses (as well as to a sizable opposition), the need for historical understanding also increases. Despite the importance of the topic, few attempts have been made to present a long-term economic analysis of the phenomenon, one that frames the issue by examining its place in the long history of international integration. This volume collects eleven papers doing exactly that and more. The first group of essays explores how the process of globalization can be measured in terms of the long-term integration of different markets-from the markets for goods and commodities to those for labor and capital, and from the sixteenth century to the present. The second set of contributions places this knowledge in a wider context, examining some of the trends and questions that have emerged as markets converge and diverge: the roles of technology and geography are both considered, along with the controversial issues of globalization's effects on inequality and social justice and the roles of political institutions in responding to them. The final group of essays addresses the international financial systems that play such a large part in guiding the process of globalization, considering the influence of exchange rate regimes, financial development, financial crises, and the architecture of the international financial system itself. This volume reveals a much larger picture of the process of globalization, one that stretches from the establishment of a global economic system during the nineteenth century through the disruptions of two world wars and the Great Depression into the present day. The keen analysis, insight, and wisdom in this volume will have something to offer a wide range of readers interested in this important issue.
In Defense Of Free Capital Markets
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Author : David F. DeRosa
language : en
Publisher:
Release Date : 2001
In Defense Of Free Capital Markets written by David F. DeRosa and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2001 with Business & Economics categories.
The future economic well-being of both developed and developing nations depends upon an honest look at the irrefutable lessons of these recent financial disasters - before they are repeated."--BOOK JACKET.
Monetary Economics In Globalised Financial Markets
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Author : Ansgar Belke
language : en
Publisher: Springer Science & Business Media
Release Date : 2010-03-14
Monetary Economics In Globalised Financial Markets written by Ansgar Belke and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-03-14 with Business & Economics categories.
This book integrates the fundamentals of monetary theory, monetary policy theory and financial market theory, providing an accessible introduction to the workings and interactions of globalised financial markets. Includes examples and extensive data analyses.
Regulation Of Fixed Income Securities Markets In The United States
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Author : Felice B. Friedman
language : en
Publisher: World Bank Publications
Release Date : 2004
Regulation Of Fixed Income Securities Markets In The United States written by Felice B. Friedman and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004 with Fixed-income securities categories.
Historical Dictionary Of The International Monetary Fund
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Author : Sarah Tenney
language : en
Publisher: Scarecrow Press
Release Date : 2011-05-01
Historical Dictionary Of The International Monetary Fund written by Sarah Tenney and has been published by Scarecrow Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-05-01 with Business & Economics categories.
In its more than 65 years of existence, the International Monetary Fund has evolved from a small, obscure international agency, with new and uncertain responsibilities, into a powerful institution that today has assumed center stage in the international monetary system. It is a remarkable story of how an institution has developed and adapted itself to an evolving world and a changing membership in ways that perhaps no other international agency has been forced or able to do. The third edition of the Historical Dictionary of the International Monetary Fund provides a comprehensive overview of the fund, including a chronology, an introductory essay, appendixes, a bibliography, and over 300 cross-referenced dictionary entries on the organizations, significant leaders, founders, and members. This book is an excellent access point for students, researchers, and anyone wanting to know more about the International Monetary Fund.
The International Capital Markets Review
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Author : Jeffrey B. Golden
language : en
Publisher:
Release Date : 2014
The International Capital Markets Review written by Jeffrey B. Golden and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014 with Capital market categories.
Short And Long Run Integration
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Author : Sergio L. Schmukler
language : en
Publisher:
Release Date : 1999
Short And Long Run Integration written by Sergio L. Schmukler and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1999 with categories.
August 2001 Do controls on capital flows persistently isolate domestic markets from international markets? Or is the insulation they provide just ephemeral? Kaminsky and Schmukler study whether capital controls affect the link between domestic and foreign stock market prices and interest rates. To examine the characteristics of international market integration and the effects of capital controls in the short and long run, they apply band-pass filter techniques to data from six emerging economies during the 1990s. They find that markets seem to be linked more at longer horizons. Equity prices seem to be more connected internationally than interest rates. They also find little evidence that controls effectively segment domestic markets from foreign markets. And when they do, the effects seem to be short-lived. Moreover, the effects of controls on outflows do not seem to differ from those of controls on inflows. For example, controls on outflows in Venezuela during the 1994 crisis, and unremunerated reserve requirements in Chile and Colombia during a capital-inflow episode, seem to have shielded domestic markets at the most at very high frequencies. The degree of financial sophistication does not seem to affect Kaminsky and Schmukler's conclusions on the insulation provided by capital controls. True, more developed financial markets, such as those in Brazil, are more closely linked to international markets than those in Colombia and Venezuela, which are far more illiquid. But capital controls do not seem to provide an extra cushion against international spillovers even in less developed markets. This paper--a product of Macroeconomics and Growth, Development Research Group--is part of a larger effort in the group to understand the functioning of financial markets and the benefits of financial integration. The study was funded by the Bank's Research Support Budget under the research project "Financial Development and Contagion." The authors may be contacted at [email protected] or [email protected].