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...

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Bibliographic Details
Call Number:Libro Electrónico
Main Authors: Chami, Ralph (Author), Fullenkamp, Connel (Author), Sharma, Sunil (Author)
Corporate Authors: International Monetary Fund, IMF Institute
Format: Electronic eBook
Language:Inglés
Published: Washington, D.C. : International Monetary Fund, 2009.
Series:IMF working paper ; WP/09/156.
Subjects:
Capital market.
Financial instruments.
Debts, Public.
Risk management.
Foreign exchange market.
Risk Management
Marché financier.
Dettes publiques.
Gestion du risque.
Marché des changes.
risk management.
Capital market
Debts, Public
Financial instruments
Foreign exchange market
Risk management
Online Access:Texto completo
Table of Contents:
  • I. Introduction; II. The Framework: Key Players and their Incentives; A. Borrowers; B. Lenders; C. Liquidity Providers; D. Regulators; III. The Framework: Compromises That Define Financial Instruments; A. The Space of Financial Contracts; B. The Maturity-Collateral Compromise; C. The Seniority-Control Compromise; IV. Applying the Framework: Issues in Financial Market Development; A. Nascent Financial Markets; B. The Bond Market; C. Asset-Backed Securities; D. The Equity Market; E. Derivatives; F. The Loan Market and the Role of Banks; V. Concluding Remarks; References

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