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Emerging Market Bond Spreads and Sovereign Credit Ratings

Emerging Market Bond Spreads and Sovereign Credit Ratings »

Source: Emerging Market Bond Spreads and Sovereign Credit Ratings : Reconciling Market Views with Economic Fundamentals

Volume/Issue: 2001/165

Series: IMF Working Papers

Author(s): Amadou Sy

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 October 2001

ISBN: 9781451858051

Keywords: Bond spreads, monitoring, risk appetite, bond, bonds, emerging market bond, market bond, Financial Institutions and Services: General,

This paper uses a panel data estimation of a simple univariate model of sovereign spreads on ratings to analyze statistically significant deviations from the estimated relationship. We find evidence of an asymmetri...

Measuring Liquidity in Financial Markets

Measuring Liquidity in Financial Markets »

Source: Measuring Liquidity in Financial Markets

Volume/Issue: 2002/232

Series: IMF Working Papers

Author(s): Tonny Lybek , and Abdourahmane Sarr

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 2002

ISBN: 9781451875577

Keywords: foreign exchange, bond, foreign exchange markets, exchange markets, Measuring Liquidity, General Financial Markets,

This paper provides an overview of indicators that can be used to illustrate and analyze liquidity developments in financial markets. The measures include bid-ask spreads, turnover ratios, and price impact measures...

Why Complementarity Matters for Stability—Hong Kong SAR and Singapore as Asian Financial Centers

Why Complementarity Matters for Stability—Hong Kong SAR and Singapore as Asian Financial Centers »

Source: Why Complementarity Matters for Stability-Hong Kong SAR and Singapore as Asian Financial Centers

Volume/Issue: 2014/119

Series: IMF Working Papers

Author(s): Vanessa Le Lesle , Franziska Ohnsorge , Minsuk Kim , and Srikant Seshadri

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 08 July 2014

ISBN: 9781498334464

Keywords: Networks, financial institutions and services, government policy and regulation, bond, financial stability, bond markets, financial institutions, hedge, General,

There is much speculation regarding a 'race for dominance' among financial centers in Asia, arising from the anticipated financial opening up of China. This frame of reference is, to an extent, a predilection that...

An Anatomy of Corporate Bond Markets

An Anatomy of Corporate Bond Markets »

Source: An Anatomy of Corporate Bond Markets : Growing Pains and Knowledge Gains

Volume/Issue: 2005/152

Series: IMF Working Papers

Author(s): Pipat Luengnaruemitchai , and Li Ong

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 2005

ISBN: 9781451861716

Keywords: Benchmark, mature markets, regulation, bond, bonds, corporate bonds, corporate bond, General Financial Markets: Government Policy and Regulation,

The objective of this paper is to discuss the key issues relating to the development of local corporate bond markets. We examine the requirements for local corporate bond market development, and compare and contras...

A Framework for Financial Market Development

A Framework for Financial Market Development »

Source: A Framework for Financial Market Development

Volume/Issue: 2009/156

Series: IMF Working Papers

Author(s): Ralph Chami , Sunil Sharma , and Connel Fullenkamp

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 2009

ISBN: 9781451873030

Keywords: Financial market development, contracts, borrowers, lenders, liquidity providers, regulators, New Institutional Economics, bonds, cash flows, bond

The paper proposes a framework for examining the process of financial market development. The framework, consistent with the functional view of financial system design, is anchored in studying the incentives facing...

Asean Bond Market Development

Asean Bond Market Development »

Source: Asean Bond Market Development : Where Does it Stand? Where is it Going?

Volume/Issue: 2011/137

Series: IMF Working Papers

Author(s): Mahmood Pradhan , Shanaka Peiris , Mangal Goswami , Dulani Seneviratne , Joshua Felman , Andreas Jobst , and Simon Gray

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 2011

ISBN: 9781455265428

Keywords: ASEAN, market development, bond market, capital inflows, securities, capital markets, General Equilibrium and Disequilibrium: General, Financial Markets and the Macroeconomy, Financial Aspects of Economic Integration, Market Structure And Pricing

Since the Asian crisis, ASEAN5 countries have expended considerable effort in trying to develop their domestic bond markets. Yet today these markets are not much larger, relative to GDP, than they were a decade bef...

International Pricing of Emerging Market Corporate Debt

International Pricing of Emerging Market Corporate Debt »

Source: International Pricing of Emerging Market Corporate Debt : Does the Corporate Matter?

Volume/Issue: 2010/26

Series: IMF Working Papers

Author(s): Sonja Keller , and Ashoka Mody

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 2010

ISBN: 9781451962475

Keywords: Corporate bonds, bond spreads, Fama-French factors, equity returns, bonds, bond, General Financial Markets, Corporate Finance And Governance,

We examine risk spreads charged on corporate bonds placed by emerging market borrowers on international exchanges. While global developments have an important effect on spreads, changes in firm-level default risk a...

Drivers of Financial Integration – Implications for Asia

Drivers of Financial Integration – Implications for Asia »

Source: Drivers of Financial Integration - Implications for Asia

Volume/Issue: 2015/160

Series: IMF Working Papers

Author(s): Nasha Ananchotikul , Shi Piao , and Edda Zoli

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 17 July 2015

ISBN: 9781513554815

Keywords: regulation, portfolio, investment, portfolio investment, market, bond, Financial Aspects of Economic Integration, General, regulation.,

Deeper intraregional financial integration is prominent on Asian policymakers' agenda. This paper takes stock of Asia's progress toward that objective, analyzing recent trends in cross-border portfolio investment a...

The Development of Local Debt Markets in Asia

The Development of Local Debt Markets in Asia »

Source: The Development of Local Debt Markets in Asia

Volume/Issue: 2011/132

Series: IMF Working Papers

Author(s): Mangal Goswami , and Sunil Sharma

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 2011

ISBN: 9781455259373

Keywords: local currency debt markets, investor base, bank lending, regulatory framework, bond markets, securities, capital market, bond market, Financial Markets and the Macroeconomy, Financial Aspects of Economic Integration

The paper makes an assessment of the progress made in developing local debt markets in emerging Asia. Market development has been limited by hurdles confronting borrowers and lenders, current and potential liquidit...

Future of Asia’s Finance

Future of Asia’s Finance »

Source: Future of Asia's Finance : How Can it Meet Challenges of Demographic Change and Infrastructure Needs?

Volume/Issue: 2014/126

Series: IMF Working Papers

Author(s): Ding Ding , Waikei Lam , and Shanaka Peiris

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 16 July 2014

ISBN: 9781498321082

Keywords: Demographic change, infrastructure financing, financial deepening, financial integration, capital and financial flows, bond, financial markets, financial sector development, bonds, Models with Panel Data

There is a role for Asia's financial sector to play to address the challenges associated with the region's changing demographics and infrastructure investment needs. Enhancing financial innovation and integration i...