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Emerging Market Securities Access To Global Plumbing
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Book Synopsis Emerging Market Securities Access to Global Plumbing by : Gongpil Choi
Download or read book Emerging Market Securities Access to Global Plumbing written by Gongpil Choi and published by International Monetary Fund. This book was released on 2021-03-26 with total page 37 pages. Available in PDF, EPUB and Kindle. Book excerpt: What are the constraints that have stalled EMs efforts to reuse their securities in international financial centers? We discuss the economics of collateral re-use and the present institutional structure in Asian and Latin American countries. Our empirical investigation suggests pledgeability enhances financial stability and reduces dollar funding risk. We also explain the Eurozone collateral pool to incentivize EMs, and why many securities (e.g., BTPs, Italy) are acceptable in London but not EM securities. Looking forward, EMs liaison with International Central Securities Depositories (ICSDs), and global banks’ balance sheet capacity to intermediate cross-border collateral will be crucial for this market to develop.
Book Synopsis Housekeeping and Plumbing by : Jeppe Ladekarl
Download or read book Housekeeping and Plumbing written by Jeppe Ladekarl and published by World Bank Publications. This book was released on 2004 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Barriers to Trade in Financial and Insurance Services: Evidence from the United Kingdom by : Jiri Podpiera
Download or read book Barriers to Trade in Financial and Insurance Services: Evidence from the United Kingdom written by Jiri Podpiera and published by International Monetary Fund. This book was released on 2021-10-29 with total page 21 pages. Available in PDF, EPUB and Kindle. Book excerpt: Distance, as a proxy for trade barriers, is found in many studies to matter even for weightless cross-border financial investments and lending, possibly due to the presence of information asymmetries. Its importance is tested in this paper using exports of all five broad categories of the U.K.’s financial and insurance services. No trade barriers are found for the bulk of the U.K.’s exports. Trade barriers are confirmed only for interest-bearing activities – being in line with available results in the literature. The positive effect of EU membership appears to be small. Notwithstanding the uncertainties, it suggests that post-Brexit disruptions of the U.K.’s export of financial and insurance services may be minor.
Book Synopsis Housekeeping and Plumbing by : Jeppe Ladekarl
Download or read book Housekeeping and Plumbing written by Jeppe Ladekarl and published by . This book was released on 2013 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The authors look at the investment allocation process employed by portfolio investors in emerging markets. In particular, they examine the first of a two-stage decision process: first, investors create a subset of countries with investments potential, to be analyzed later in further detail; second, they weigh expected returns versus risk and subsequently allocate their funds. The authors hypothesize that the determination of whether a country has potential investment opportunities, or not is influenced by a number of factors, especially related to size, quality of "housekeeping," (macroeconomic policies, political economy, local financial markets, corporate governance, and so on), and efficiency of "plumbing" (legal and regulatory framework, custody, clearing and settlement, taxes, and so on). By interviewing many types of these investors in both the United States and the United Kingdom, the authors delve into their decision-making processes, as well as attempt to uncover the factors they indicate, matter most in defining the "investment opportunities" universe. They determine the relative importance of such housekeeping, and plumbing factors while highlighting the role of external issues, such as index benchmarking and U.S. foreign policy. The authors recognize from the outset that the most profound effects on investment flows, or the required minimum expected returns, arise from improvements or deteriorations in macroeconomic policies. However, at the margin, improvements can be made in country policies that will, for a given macroeconomic situation, improve the ability of a country to attract international investment flows.
Book Synopsis Plumbers and Visionaries by : Peter Norman
Download or read book Plumbers and Visionaries written by Peter Norman and published by John Wiley & Sons. This book was released on 2008-07-31 with total page 364 pages. Available in PDF, EPUB and Kindle. Book excerpt: Plumbers and Visionaries: Securities Settlement and Europe’s Financial Market is a path-breaking account of the history and future of the securities settlement industry in Europe. Written by experienced journalist and author, Peter Norman, this book takes a look at the less visible, but nevertheless critical segment of the global capital markets, following the development of securities settlement across Europe’s frontiers. It encompasses the free-wheeling days of the Eurobond market in the 1960s, through the growing integration of the European Union, to the highly regulated and efficient multi-trillion euro business securities settlement it is today. This book is the story of a financial sector that has grown hugely in importance in the 40 years since Euroclear, now the world’s premier settlement system for domestic and international securities transactions, was created to deal with a settlement crisis that threatened to smother the international capital market in its infancy. Beginning with the settlement crisis in the Eurobond market, this book describes how Euroclear and later Cedel, its arch-rival, were founded to deal with the problem. It follows the challenges posed by cross-border settlement for a growing range of securities when most financial infrastructures operated only within national frontiers. The book demonstrates how securities settlement became an issue for public policy after the stock market crash of 1987 and how the problems of cross-border settlement moved rapidly up the European policy agenda after the euro’s launch. More than a mere history, this book engages with the people who created the modern European securities settlement industry and taps into the often entertaining memories of its founding fathers. This book also focuses on the difficulties and challenges of cross-border transactions which have been identified as hampering Europe’s economic growth. It looks at the present state of the industry seeking a way forward so that the securities settlement infrastructure will better serve a single European capital market.
Book Synopsis Emerging Local Securities and Derivatives Markets by : Mr. Ramana Ramaswamy
Download or read book Emerging Local Securities and Derivatives Markets written by Mr. Ramana Ramaswamy and published by International Monetary Fund. This book was released on 2004-04-20 with total page 103 pages. Available in PDF, EPUB and Kindle. Book excerpt: In response to the volatility of capital flows since the mid-1990s, many emerging market economies have taken a variety of steps designed to “selfinsure” against volatile capital flows. One such measure has been the development of local securities and derivatives markets as an alternative source of funding the public and corporate sectors. This paper examines this self-insurance policy, focusing on the extent to which emerging markets have developed local securities and derivatives, and what key policy issues have arisen as a result.
Book Synopsis Capital Markets and Investment Decision Making by : Raj S. Dhankar
Download or read book Capital Markets and Investment Decision Making written by Raj S. Dhankar and published by Springer. This book was released on 2019-04-25 with total page 355 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book discusses capital markets and investment decision-making, focusing on the globalisation of the world economy. It presents empirically tested results from Indian and Southwest Asian stock markets and offers valuable insights into the working of Indian capital markets. The book is divided into four parts: the first part examines capital-market operations, particularly clearance and settlement processes, and stock market operations. The second part then addresses the functioning of global markets and investment decisions; more specifically it explores calendar anomalies, dependencies, overreaction effect, causality effect and stock returns volatility in South Asia, U.S. and global stock markets as a whole. Part three covers issues relating to capital structure, values of firm and investment strategies. Lastly, part four discusses emerging issues in finance like behavioral finance, Islamic finance, and international financial reporting standards. The book fills the gap in the existing finance literature and helps fund managers and individual investors make more accurate investment decisions.
Book Synopsis Promoting Access to Primary Equity Markets by : Felice Betsy Friedman
Download or read book Promoting Access to Primary Equity Markets written by Felice Betsy Friedman and published by . This book was released on 2006 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: "This paper examines legal and regulatory measures that can be taken to promote access to the primary market in emerging market economies. While capital market development depends on many factors including, primarily, a favorable macroeconomic environment, an appropriately designed and effective legal and regulatory framework can help to encourage market growth and to increase access to finance for all companies, including small- and medium-sized enterprises. In this paper we identify the basic necessities that underpin a regulatory regime that is cost effective and strikes an appropriate balance between, on the one hand, laws and regulations that may be too restrictive to achieve a supply of capital and, on the other, those that may be so relaxed that investors feel that there is an unacceptable level of risk and do not care to venture into the market. We explore the legal foundations for the successful operation of a primary market for securities and identify disclosure and effective monitoring and enforcement as essential elements of legal protection. We then examine different legal and regulatory approaches for improving access to finance. We discuss measures that can be used by traditional stock exchanges to attract smaller enterprises to their lists as well as recent initiatives to create second boards or divide the main board into different market segments. We also discuss different mechanisms for companies to raise funds outside of a formal stock market listing, including private placements and private equity. Finally, we propose some recommendations for a simple legal and regulatory framework that will help promote access to primary equity markets, via both the traditional exchange as well as other alternatives. "--World Bank web site.
Book Synopsis International Strategy of Emerging Market Firms by : Andrei Panibratov
Download or read book International Strategy of Emerging Market Firms written by Andrei Panibratov and published by Routledge. This book was released on 2017-03-16 with total page 477 pages. Available in PDF, EPUB and Kindle. Book excerpt: Emerging economies are expected to be in the driver's seat of the global economy in the medium and long term. Large multinational corporations will account for much of this activity. In this textbook, Andrei Panibratov explains how emerging market firms accumulate and exploit market knowledge to develop competitive advantages whilst operating globally. Chapters dedicated to the key emerging economies - Brazil, Russia, India and China (BRIC) - are enhanced by detailed case studies of large firms’ activities. The book is divided into four parts, focusing on the following: An outline of the relevant terminology and the context of the international strategy of emerging market firms, providing an introductory foundation for the whole book. A guide to the evolution of perspectives regarding international strategy, designed to illustrate the changes and trends in the recent academic research on internationalization. A country-by-country illustration of the internationalization of BRIC economies and firms, providing an overall picture of each country’s global integration, outward investments, and strategies. The concepts and practices behind the strategies employed by different firms. Written by an established international business scholar, this book is essential reading for students of international strategy who wish to understand the importance of the emerging economies.
Book Synopsis Emerging Capital Markets and Globalization by : Augusto de la Torre
Download or read book Emerging Capital Markets and Globalization written by Augusto de la Torre and published by World Bank Publications. This book was released on 2006-10-20 with total page 228 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis The Great Financial Plumbing by : Karel Lannoo
Download or read book The Great Financial Plumbing written by Karel Lannoo and published by . This book was released on 2015 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The financial crisis has led to a far-reaching redesign of the European regulatory and supervisory framework for financial markets. This book provides students and professionals with a lucid guide to the new regulations and the policy context that led to the changes.
Book Synopsis The New York Times Guide to Essential Knowledge by : The New York Times
Download or read book The New York Times Guide to Essential Knowledge written by The New York Times and published by St. Martin's Press. This book was released on 2011-10-25 with total page 1376 pages. Available in PDF, EPUB and Kindle. Book excerpt: A COMPLETE REVISION AND THOROUGH UPDATING OF THE ULTIMATE REFERENCE FROM THE NEWSPAPER OF RECORD. A comprehensive guide offering insight and clarity on a broad range of even more essential subjects. Whether you are researching the history of Western art, investigating an obscure medical test, following current environmental trends, studying Shakespeare, brushing up on your crossword and Sudoku skills, or simply looking for a deeper understanding of the world, this book is for you. An indispensable resource for every home, office, dorm room, and library, this new edition of The New York Times Guide to Essential Knowledge offers in-depth explorations of art, astronomy, biology, business, economics, the environment, film, geography, history, the Internet, literature, mathematics, music, mythology, philosophy, photography, sports, theater, film, and many other subjects. This one volume is designed to offer more information than any other book on the most important subjects, as well as provide easy-to-access data critical to everyday life. It is the only universal reference book to include authoritative and engaging essays from New York Times experts in almost every field of endeavor. The New York Times Guide to Essential Knowledge provides information with matchless accuracy and exceptional clarity. This new revised and expanded third edition covers major categories with an emphasis on depth and historical context, providing easy access to data vital for everyday living. Covering nearly 50 major categories, and providing an immediate grasp of complex topics with charts, sidebars, and maps, the third edition features 50 pages of new material, including new sections on * Atheism * Digital Media * Inventions and Discoveries * Endangered Species * Inflation * Musical Theater * Book Publishing *Wikileaks *The Financial Crisis *Nuclear Weapons *Energy *The Global Food Supply Every section has been thoroughly updated, making this third edition more useful and comprehensive than ever. It informs, educates, answers, illustrates and clarifies---it's the only one-volume reference book you need.
Book Synopsis Global Strategic Assessment 2009: America's Security Role in a Changing World by : Patrick M. Cronin
Download or read book Global Strategic Assessment 2009: America's Security Role in a Changing World written by Patrick M. Cronin and published by Government Printing Office. This book was released on 2009 with total page 512 pages. Available in PDF, EPUB and Kindle. Book excerpt: Provides an overview of eight broad trends shaping the international security environment; a global analysis of the world's seven regions, to consider important developments in their distinctive neighborhoods; and, an examination of prospective U.S. contributions, military capabilities and force structure, national security organization, alliances and partnerships, and strategies.
Book Synopsis America's Security Role in a Changing World by : Patrick M. Cronin
Download or read book America's Security Role in a Changing World written by Patrick M. Cronin and published by . This book was released on 2009 with total page 80 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Health Aspects of Plumbing by : World Health Organization
Download or read book Health Aspects of Plumbing written by World Health Organization and published by World Health Organization. This book was released on 2006-03-03 with total page 139 pages. Available in PDF, EPUB and Kindle. Book excerpt: This publication describes the processes involved in the design installation and maintenance of modern plumbing systems. It recommends a number of plumbing system design and installation specifications that have demonstrated their validity from years of experience. It also examines the microbiological chemical physical and financial risks associated with plumbing and outlines the major risk management strategies that are used in the plumbing industry and emphasizes the importance of measures to conserve supplies of clean water. This work is dedicated to assisting developing countries in achieving the best possible plumbing levels to ensure the highest health benefits from use of sound plumbing practices. It is aimed at administrators and plumbers working in areas that are served by a mains drinking- water supply or sewerage system or are about to install a mains drinking- water supply or sewerage system. It should be of particular value to those working in countries or areas that are in the early stages of introducing modern plumbing systems. While it draws attention to the problems of drinking- water supply and waste removal in developing countries and outlines some of the strategies currently used it does not systematically cover issues specific to developing countries.
Book Synopsis International Macroeconomics in the Wake of the Global Financial Crisis by : Laurent Ferrara
Download or read book International Macroeconomics in the Wake of the Global Financial Crisis written by Laurent Ferrara and published by Springer. This book was released on 2018-06-13 with total page 298 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book collects selected articles addressing several currently debated issues in the field of international macroeconomics. They focus on the role of the central banks in the debate on how to come to terms with the long-term decline in productivity growth, insufficient aggregate demand, high economic uncertainty and growing inequalities following the global financial crisis. Central banks are of considerable importance in this debate since understanding the sluggishness of the recovery process as well as its implications for the natural interest rate are key to assessing output gaps and the monetary policy stance. The authors argue that a more dynamic domestic and external aggregate demand helps to raise the inflation rate, easing the constraint deriving from the zero lower bound and allowing monetary policy to depart from its current ultra-accommodative position. Beyond macroeconomic factors, the book also discusses a supportive financial environment as a precondition for the rebound of global economic activity, stressing that understanding capital flows is a prerequisite for economic-policy decisions.
Book Synopsis Collateral and Financial Plumbing by : Manmohan Singh
Download or read book Collateral and Financial Plumbing written by Manmohan Singh and published by . This book was released on 2016 with total page 211 pages. Available in PDF, EPUB and Kindle. Book excerpt: Collateral is one of the building blocks on which the financial markets are constructed. Used for a number of purposes--including trading with central counterparties (CCPs), secured funding with market counterparties and central banks, OTC derivatives margining and settlement--the role of effective collateral management in monetizing assets has never been more important.
