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A framework for financial market development /
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 the key players in financial markets-borrowers, lenders, liquidity providers, and reg...
| Clasificación: | Libro Electrónico |
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| Autores principales: | , , |
| Autores Corporativos: | , |
| Formato: | Electrónico eBook |
| Idioma: | Inglés |
| Publicado: |
Washington, D.C. :
International Monetary Fund,
2009.
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| Colección: | IMF working paper ;
WP/09/156. |
| Temas: | |
| Acceso en línea: | Texto completo |
| Sumario: | 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 the key players in financial markets-borrowers, lenders, liquidity providers, and regulators-whose actions determine whether and how markets develop. While different financial instruments embody different concessions by borrowers and lenders, the framework emphasizes the two main compromises: the tradeoffs between maturity and collateral, and between seniority and control. The framework is used to analyze the sequencing of financial market development. |
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| Notas: | "July 2009." At head of title: IMF Institute. |
| Descripción Física: | 1 online resource (58 pages) |
| Bibliografía: | Includes bibliographical references (pages 53-58). |
| ISBN: | 1451917317 9781451917314 1462310362 9781462310364 1452716773 9781452716770 1282843699 9781282843691 1451873034 9781451873030 9786612843693 6612843691 |
| ISSN: | 2227-8885 ; |