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Author: Christian Wildmann Publisher: ISBN: Category : Languages : en Pages : 68
Book Description
After decades of steady liberalisation and financial market development, emerging capital markets experienced unparalleled capital inflows in the aftermath of the emerging markets crisis in the 1990s. This paper studies portfolio investment decisions of German banks in 30 emerging capital markets using monthly data from 2002 to 2007. The use of a dynamic Time-Series Cross-Section framework and the micro database External Position Report provided by Deutsche Bundesbank, which covers German banks assets and liability positions vis-à-vis foreign countries, allows insights into the various determinants: indicators of financial market development, the portfolio-calculus of investors, investor-specific characteristics, as well as the macroeconomic environment. There is evidence for German banks taking into account the various dimensions of financial market development in their portfolio investment decisions and anticipating the special risks inherent in emerging markets. The implication for policymakers would be to foster financial market development in order to attract and sustain international portfolio investors. However, there is additional evidence for the investor's domestic market environment and global risk aversion exerting a significant influence in times of financial turmoil.
Author: Christian Wildmann Publisher: ISBN: Category : Languages : en Pages : 68
Book Description
After decades of steady liberalisation and financial market development, emerging capital markets experienced unparalleled capital inflows in the aftermath of the emerging markets crisis in the 1990s. This paper studies portfolio investment decisions of German banks in 30 emerging capital markets using monthly data from 2002 to 2007. The use of a dynamic Time-Series Cross-Section framework and the micro database External Position Report provided by Deutsche Bundesbank, which covers German banks assets and liability positions vis-à-vis foreign countries, allows insights into the various determinants: indicators of financial market development, the portfolio-calculus of investors, investor-specific characteristics, as well as the macroeconomic environment. There is evidence for German banks taking into account the various dimensions of financial market development in their portfolio investment decisions and anticipating the special risks inherent in emerging markets. The implication for policymakers would be to foster financial market development in order to attract and sustain international portfolio investors. However, there is additional evidence for the investor's domestic market environment and global risk aversion exerting a significant influence in times of financial turmoil.
Author: Augusto de la Torre Publisher: World Bank Publications ISBN: 0821365444 Category : Business & Economics Languages : en Pages : 232
Book Description
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.
Author: Meçik, Oytun Publisher: IGI Global ISBN: Category : Business & Economics Languages : en Pages : 606
Book Description
Nations are at a pivotal moment, grappling with significant macroeconomic challenges that impede structural reform and industrial development. From volatile global markets to domestic pressures of modernization and workforce transitions, they must address complex economic hurdles while striving to build competitive and sustainable industries. In this context, policymakers, economists, and researchers must work together to design and implement innovative strategies that can drive structural transformation, enhance industrial capacity, and secure long-term growth and stability. Macroeconomic Challenges to Structural Reform and Industrial Development brings together a diverse array of expert perspectives to explore the complex macroeconomic challenges facing structural reform and industrial development. By synthesizing the latest research findings, empirical evidence, and policy insights, the book offers a nuanced understanding of the key forces shaping these economic trajectories. Covering topics such as corrupt governments, post-growth economy, and sustainable growth, this book is an excellent resource for policymakers, economists, researchers, academics, and students.
Author: Nina Eichacker Publisher: Edward Elgar Publishing ISBN: 178643203X Category : Europe Languages : en Pages : 212
Book Description
This book analyzes how financial liberalization affected the development of the financial crisis in Europe, with particular attention given to the ways in which power asymmetries within Western Europe facilitated financial liberalization and distributed the costs and gains from it. The author combines institutional narrative analysis with empirical surveys and econometrics, as well as country-level studies of financial liberalization and its consequences before and after the 2008 Global Financial Crisis.
Author: Greg N. Gregoriou Publisher: CRC Press ISBN: 1439804508 Category : Business & Economics Languages : en Pages : 870
Book Description
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, su
Author: Publisher: World Bank Publications ISBN: 9780195211160 Category : Business & Economics Languages : en Pages : 432
Book Description
This book analyzes the process of international financial integration and the structural forces driving private capital to developing countries. Against this background, it details the potential benefits of integration and the implications of fast-moving global capital flows for emerging economics. Examining the experience of countries that have attracted substantial private capital flows, the book provides invaluable guidance as to what works and what doesn't during the transition to financial integration. It will be of compelling interest to policymakers and also to international investors and bankers, financial analysts, and researchers.
Author: Mr.Luc Laeven Publisher: International Monetary Fund ISBN: 1498372201 Category : Business & Economics Languages : en Pages : 25
Book Description
Capital markets can improve risk sharing and the efficiency with which capital is allocated to the real economy, boosting economic growth and welfare. However, despite these potential benefits, not all countries have well developed capital markets. Moreover, government-led initiatives to develop local capital markets have had mixed success. This paper reviews the literature on the benefits and costs of developing local capital markets, and describes the challenges faced in the development of such markets. The paper concludes with a set of policy recommendations emerging from this literature.
Author: José A. Soler Ramos Publisher: IDB ISBN: 9781886938717 Category : Business & Economics Languages : en Pages : 422
Book Description
"Drawing on practical methods used by successful risk managers in emerging and developed markets throughout the world, the book provides specific guidance on establishing a modern risk management framework and developing efficient approaches to increase the profitability of risk management activities in emerging market settings."--BOOK JACKET.
Author: Christian Wildmann
Author: Christian Wildmann
Author: Christian Wildmann
Author: Augusto de la Torre
Author: Meçik, Oytun
Author: Nina Eichacker
Author: Greg N. Gregoriou
Author: Deutsche Bundesbank
Author: 
Author: Mr.Luc Laeven
Author: José A. Soler Ramos