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Bond Markets As Conduits for Capital Flows : How Does Asia Compare?.

Annotation

Detalles Bibliográficos
Clasificación:Libro Electrónico
Autores principales: Luengnaruemitchai, Pipat (Autor), Eichengreen, Barry J. (Autor)
Formato: Electrónico eBook
Idioma:Inglés
Publicado: Washington : International Monetary Fund, Oct. 2006.
Colección:IMF working paper ; WP/06/238.
Temas:
Acceso en línea:Texto completo

MARC

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100 1 |a Luengnaruemitchai, Pipat,  |e author. 
245 1 0 |a Bond Markets As Conduits for Capital Flows :  |b How Does Asia Compare?. 
260 |a Washington :  |b International Monetary Fund,  |c Oct. 2006. 
300 |a 1 online resource (33 pages). 
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/06/238 
520 8 |a Annotation  |b We use data on the extent to which residents of one country hold the bonds of issuers resident in another as a measure of financial integration or interrelatedness, asking how Asia compares with Europe and Latin America and with the base case in which the purchaser and issuer of the bonds reside in different regions. Not surprisingly, we find that Europe is more financially integrated than other regions. Asia, more interestingly, already seems to have made more progress on this front than Latin America and other parts of the world. the contrast with Latin America is largely explained by stronger creditor and investor rights, better contract enforcement, and greater transparency, all of which are conducive to foreign participation in local markets and to intraregional cross holdings of Asian bonds generally. Further results based on a limited sample suggest that one factor holding back investment in foreign bonds in East Asia may be limited geographical diversification by mutual funds, in turn reflecting a dearth of appropriate assets. Asian Bond Fund 2, by creating a passively managed portfolio of local currency bonds potentially attractive to mutual fund managers and investors, may help to relax this constraint. 
504 |a Includes bibliographical references. 
505 0 |a ""Contents""; ""I. INTRODUCTION""; ""II. REVIEW OF PREVIOUS STUDIES""; ""III. DATA AND SPECIFICATION""; ""IV. BASIC RESULTS""; ""V. SENSITIVITY CHECKS""; ""VI. CONNECTIONS WITH OTHER ASPECTS OF FINANCIAL DEVELOPMENT""; ""VII. THE COMPOSITION OF THE INVESTOR BASE""; ""VIII. CONCLUSIONS AND POLICY IMPLICATIONS""; ""References"" 
590 |a ProQuest Ebook Central  |b Ebook Central Academic Complete 
650 0 |a Capital movements  |z Asia. 
650 0 |a Investments, Foreign  |z Asia  |x Mathematical models. 
650 6 |a Mouvements de capitaux  |z Asie. 
650 6 |a Investissements étrangers  |z Asie  |x Modèles mathématiques. 
650 7 |a Capital movements  |2 fast 
650 7 |a Investments, Foreign  |x Mathematical models  |2 fast 
651 7 |a Asia  |2 fast  |1 https://id.oclc.org/worldcat/entity/E39PBJxMpyjKQ9Jtm3jkjPBgKd 
700 1 |a Eichengreen, Barry J.,  |e author. 
758 |i has work:  |a Bond markets as conduits for capital flows (Text)  |1 https://id.oclc.org/worldcat/entity/E39PCGp8jpyYjPdJ9fTMXtkcrq  |4 https://id.oclc.org/worldcat/ontology/hasWork 
776 0 8 |a Print Version:  |z 9781451909517 
830 0 |a IMF working paper ;  |v WP/06/238. 
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994 |a 92  |b IZTAP