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A framework for developing secondary markets for government securities /
This paper consolidates previous work on the development of secondary markets for government securities, and focuses on the sequencing of measures necessary for their development. Six main lessons are identified: (i) a commitment to achieving and maintaining a stable macroeconomic environment, espec...
| Clasificación: | Libro Electrónico |
|---|---|
| Autores principales: | , |
| Autor Corporativo: | |
| Formato: | Electrónico eBook |
| Idioma: | Inglés |
| Publicado: |
Washington, D.C. :
International Monetary Fund, Monetary and Capital Markets Dept.,
2008.
©2008 |
| Colección: | IMF working paper ;
WP/08/174. |
| Temas: | |
| Acceso en línea: | Texto completo |
MARC
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| 050 | 4 | |a HG3881.5.I58 |b W67 no.08/174 | |
| 082 | 0 | 4 | |a 332.632044 |2 23 |
| 049 | |a UAMI | ||
| 100 | 1 | |a Árvai, Zsófia, |e author. | |
| 245 | 1 | 2 | |a A framework for developing secondary markets for government securities / |c prepared by Zsófia Árvai and Geoffrey Heenan. |
| 260 | |a Washington, D.C. : |b International Monetary Fund, Monetary and Capital Markets Dept., |c 2008. | ||
| 264 | 4 | |c ©2008 | |
| 300 | |a 1 online resource (55 pages) : |b illustrations | ||
| 336 | |a text |b txt |2 rdacontent | ||
| 337 | |a computer |b c |2 rdamedia | ||
| 338 | |a online resource |b cr |2 rdacarrier | ||
| 490 | 1 | |a IMF working paper ; |v WP/08/174 | |
| 500 | |a "July 2008." | ||
| 504 | |a Includes bibliographical references (pages 53-55). | ||
| 520 | 3 | |a This paper consolidates previous work on the development of secondary markets for government securities, and focuses on the sequencing of measures necessary for their development. Six main lessons are identified: (i) a commitment to achieving and maintaining a stable macroeconomic environment, especially prudent fiscal policy, should underpin market development; (ii) a sound and transparent public debt management strategy supports secondary market activity; (iii) a deep and diverse investor base is required; (iv) poor market infrastructure leads to high transaction costs, slow order execution, and excessive operational risk, which all inhibit trading; (v) secondary market growth is facilitated by effective monetary policy implementation; and (vi) reforms should be sequenced to ensure even development of all the structures supporting the secondary market. | |
| 588 | 0 | |a Print version record. | |
| 505 | 0 | |a I. Introduction; II. Lessons Arising from Country Experiences; III. Benefits of Deep and Liquid Secondary Government Securities Markets; A. Government Financing; B. Monetary Policy; C. Financial Market Development and Resiliency; IV. Impediments to Secondary Market Development; A. Macroeconomic Environment; B. Legal and Regulatory Framework; C. Market Infrastructure; D. Debt Management; E. Investor Base; F. Monetary Operations Framework; V. Sequencing of Secondary Market Development. | |
| 505 | 8 | |a A. Stylized Description of the Market and Sequencing of Measures to Develop the Government Debt MarketBoxes; 1. The Central Bank's Role in Developing Secondary Markets; 2. Country Examples of Major Shortcomings in Stage I; B. Stage II-Deepening of Markets; 3. Primary Dealer Systems; C. Stage III-Maturing Markets; D. Summary of Secondary Market Development Action Plans; Appendixes; Country Case Studies on Developing Secondary Markets; Tables; 1. Hungary: Main Macroeconomic Indicators; Figures; 1. Composition of Domestic Debt; 2. Hungary: Breakdown of Treasury Bond Holding by Investor Groups. | |
| 505 | 8 | |a 3. Hungary: Breakdown of Treasury Bill Holding by Investor Groups2. Hungary: Nonresidents' Holdings of Government Securities at End-Year; 4. Hungary: Breakdown of Secondary Market Turnover of Treasury Bonds and Bills; 5. India: Government Securities Secondary Market Turnover, FY95-FY07; 6. India: Ownership of Government-Dated Securities, FY1992 and FY2002; 3. Mexico: Main Macroeconomic Indicators; 7. Mexico: Composition of Domestic Public Sector Debt; Reference. | |
| 506 | |3 Use copy |f Restrictions unspecified |2 star |5 MiAaHDL | ||
| 533 | |a Electronic reproduction. |b [Place of publication not identified]: |c HathiTrust Digital Library. |d 2024. |5 MiAaHDL | ||
| 538 | |a Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. |u http://purl.oclc.org/DLF/benchrepro0212 |5 MiAaHDL | ||
| 583 | 1 | |a digitized |c 2024. |h HathiTrust Digital Library |l committed to preserve |2 pda |5 MiAaHDL | |
| 590 | |a ProQuest Ebook Central |b Ebook Central Academic Complete | ||
| 650 | 0 | |a Secondary markets. | |
| 650 | 0 | |a Government securities. | |
| 650 | 0 | |a Aftermarkets. | |
| 650 | 6 | |a Marchés secondaires. | |
| 650 | 6 | |a Effets publics. | |
| 650 | 7 | |a Aftermarkets |2 fast | |
| 650 | 7 | |a Government securities |2 fast | |
| 650 | 7 | |a Secondary markets |2 fast | |
| 650 | 7 | |a Öffentliche Anleihe. |2 stw | |
| 650 | 7 | |a Finanzmarkt. |2 stw | |
| 700 | 1 | |a Heenan, Geoffrey, |e author. | |
| 710 | 2 | |a International Monetary Fund. |b Monetary and Capital Markets Department. | |
| 758 | |i has work: |a A framework for developing secondary markets for government securities (Text) |1 https://id.oclc.org/worldcat/entity/E39PCGkmMH9WmbJGGXCv9T78md |4 https://id.oclc.org/worldcat/ontology/hasWork | ||
| 776 | 0 | 8 | |i Print version: |a Árvai, Zsófia. |t Framework for developing secondary markets for government securities. |d Washington, D.C. : International Monetary Fund, Monetary and Capital Markets Dept., 2008 |w (OCoLC)252262427 |
| 830 | 0 | |a IMF working paper ; |v WP/08/174. | |
| 856 | 4 | 0 | |u https://ebookcentral.uam.elogim.com/lib/uam-ebooks/detail.action?docID=1607937 |z Texto completo |
| 938 | |a EBL - Ebook Library |b EBLB |n EBL1607937 | ||
| 938 | |a ebrary |b EBRY |n ebr10368605 | ||
| 938 | |a YBP Library Services |b YANK |n 11617742 | ||
| 994 | |a 92 |b IZTAP | ||