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This book is an economic survey of international capital mobility from the late nineteenth century to the present.
Book Synopsis Global Capital Markets by : Maurice Obstfeld
Download or read book Global Capital Markets written by Maurice Obstfeld and published by Cambridge University Press. This book was released on 2004 with total page 386 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is an economic survey of international capital mobility from the late nineteenth century to the present.
Capital Market Integration in South Asia: Realizing the SAARC Opportunity discusses the potential Capital Market Products/Activities which can create closer inter-linkage of the South Asian capital markets and help local/global investors benefit from this economic opportunity. While some ideas may be implementable now; others have future promise as the regional markets further mature. The book demonstrates both retail and institutional investor interest in this combined high-growth region by offering scope for yield, diversification and risk mitigation, maximized upside from multiple growth markets, minimized downside through low-correlation constituents, and more. The book's core theme addresses the challenges towards deepening the awareness and acceptability of regional economies. Only when this happens will the asset flows increase into the regional market products, providing scale-up that will aid viability for these products. Presents unconventional ideas for converting SAARC’s unique opportunities into ideas for capital markets Includes socioeconomic issues as a part of the discussion Offers a unique perspective on how the region’s economic opportunities can be translated into actual products Includes numerous charts and figures on South Asia’s economic state, its financial opportunities, and projected growth
Book Synopsis Capital Market Integration in South Asia by : Sourajit Aiyer
Download or read book Capital Market Integration in South Asia written by Sourajit Aiyer and published by Elsevier. This book was released on 2016-11-03 with total page 154 pages. Available in PDF, EPUB and Kindle. Book excerpt: Capital Market Integration in South Asia: Realizing the SAARC Opportunity discusses the potential Capital Market Products/Activities which can create closer inter-linkage of the South Asian capital markets and help local/global investors benefit from this economic opportunity. While some ideas may be implementable now; others have future promise as the regional markets further mature. The book demonstrates both retail and institutional investor interest in this combined high-growth region by offering scope for yield, diversification and risk mitigation, maximized upside from multiple growth markets, minimized downside through low-correlation constituents, and more. The book's core theme addresses the challenges towards deepening the awareness and acceptability of regional economies. Only when this happens will the asset flows increase into the regional market products, providing scale-up that will aid viability for these products. Presents unconventional ideas for converting SAARC’s unique opportunities into ideas for capital markets Includes socioeconomic issues as a part of the discussion Offers a unique perspective on how the region’s economic opportunities can be translated into actual products Includes numerous charts and figures on South Asia’s economic state, its financial opportunities, and projected growth
Providing an overview of the infrastructure of European Securities markets, this text offers topical analysis of developments and trends in market integration. The author provides industry professionals with a concise exposition of how the post-Euro market works, as well as offering laymen an entry point into the subject. Topics include: wholesale electronic execution; central counterpart clearing; and consolidation of the securities depositories.
Book Synopsis Achieving Market Integration by : Scott McCleskey
Download or read book Achieving Market Integration written by Scott McCleskey and published by Butterworth-Heinemann. This book was released on 2004-01-02 with total page 184 pages. Available in PDF, EPUB and Kindle. Book excerpt: Providing an overview of the infrastructure of European Securities markets, this text offers topical analysis of developments and trends in market integration. The author provides industry professionals with a concise exposition of how the post-Euro market works, as well as offering laymen an entry point into the subject. Topics include: wholesale electronic execution; central counterpart clearing; and consolidation of the securities depositories.
Capital markets in the East African Community (EAC) face common challenges of low capitalization and liquidity, but to different degrees. EAC member countries have made noticeable progress in developing domestic capital markets through a regional approach, removing constraints on capital transactions and harmonizing market infrastructure. Nevertheless, empirical analysis suggests capital market integration has not deepened during the past few years in the EAC, although convergence of investment returns is taking place to some extent. Learning from the experience of the West African Economic and Monetary Union and the Association of Southeast Asian Nations, EAC countries would benefit from four actions to accelerate financial market integration: (i) further harmonize market infrastructure; (ii) strengthen regional surveillance mechanisms; (iii) encourage local currency bond issuance by multilateral financial institutions; and (iv) build the capacity of the existing regional institutions.
Book Synopsis Capital Market Integration by : Mr.Masafumi Yabara
Download or read book Capital Market Integration written by Mr.Masafumi Yabara and published by International Monetary Fund. This book was released on 2012-01-01 with total page 31 pages. Available in PDF, EPUB and Kindle. Book excerpt: Capital markets in the East African Community (EAC) face common challenges of low capitalization and liquidity, but to different degrees. EAC member countries have made noticeable progress in developing domestic capital markets through a regional approach, removing constraints on capital transactions and harmonizing market infrastructure. Nevertheless, empirical analysis suggests capital market integration has not deepened during the past few years in the EAC, although convergence of investment returns is taking place to some extent. Learning from the experience of the West African Economic and Monetary Union and the Association of Southeast Asian Nations, EAC countries would benefit from four actions to accelerate financial market integration: (i) further harmonize market infrastructure; (ii) strengthen regional surveillance mechanisms; (iii) encourage local currency bond issuance by multilateral financial institutions; and (iv) build the capacity of the existing regional institutions.
The fiscal crisis in Europe continues to cast a shadow on the global economic outlook, and the securities issued by the United States and European nations are losing their status as traditional safe assets and reserve value. As a result, investors and governments are looking to diversify their investment portfolio with emerging markets, particularly Asian bonds. Such renewed interest has led to excessive capital inflows, making the region increasingly vulnerable to external shocks. However, on the other hand, it leads to abundant liquidity in the capital markets, which reduces financing costs and expands investment opportunities. This book analyses this dilemma and proposes that development of local bond markets and achieving greater market depth and interconnectedness is the best bet to prevent the reoccurrence of a currency crisis like 1997. It thus, assesses the progress achieved thus far in capital market integration in Asia, and compares it with its global peers. The study also assesses the degree to which volatility in equity and bond market returns, driven by financial turmoil originating at both the regional and global levels, spills over into emerging Asia domestic equity and bond markets. The results of this analysis indicate that such spill-over significantly impacts both domestic equity and bond markets in the region. This finding suggests that on-going regional capital market integration initiatives should take into account the risk of contagion that regional financial integration presents, and introduce measures for mitigating such risk as a means of ensuring financial stability in the region.
Book Synopsis Asian Capital Market Development and Integration by : Asian Development Bank
Download or read book Asian Capital Market Development and Integration written by Asian Development Bank and published by Oxford University Press, USA. This book was released on 2014 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The fiscal crisis in Europe continues to cast a shadow on the global economic outlook, and the securities issued by the United States and European nations are losing their status as traditional safe assets and reserve value. As a result, investors and governments are looking to diversify their investment portfolio with emerging markets, particularly Asian bonds. Such renewed interest has led to excessive capital inflows, making the region increasingly vulnerable to external shocks. However, on the other hand, it leads to abundant liquidity in the capital markets, which reduces financing costs and expands investment opportunities. This book analyses this dilemma and proposes that development of local bond markets and achieving greater market depth and interconnectedness is the best bet to prevent the reoccurrence of a currency crisis like 1997. It thus, assesses the progress achieved thus far in capital market integration in Asia, and compares it with its global peers. The study also assesses the degree to which volatility in equity and bond market returns, driven by financial turmoil originating at both the regional and global levels, spills over into emerging Asia domestic equity and bond markets. The results of this analysis indicate that such spill-over significantly impacts both domestic equity and bond markets in the region. This finding suggests that on-going regional capital market integration initiatives should take into account the risk of contagion that regional financial integration presents, and introduce measures for mitigating such risk as a means of ensuring financial stability in the region.
This paper discusses the extent to which national capital markets have become linked, and identifies several of the more important consequences of that increased degree of integration. Alternative approaches to the measurement of capital market integration are reviewed, including deviations from the law of one price, differences between actual and optimally diversified portfolios, correlations between domestic investment and domestic saving, and cross-country links in consumption behavior. Two recent episodes of large-scale international capital flows—namely, the turmoil in the European Monetary System in the fall of 1992, and the surge of capital inflows into Latin America during the last three years—are examined for insights into the workings of today’s global capital market. Finally, the paper offers some concluding remarks on the future development of international capital markets, on exchange rate management, on alternative approaches to living with larger and more influential financial markets, and on the financing of investment in the formerly centrally planned economies.
Book Synopsis The Integration of World Capital Markets by : Mr.Michael Mussa
Download or read book The Integration of World Capital Markets written by Mr.Michael Mussa and published by International Monetary Fund. This book was released on 1993-12-01 with total page 66 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper discusses the extent to which national capital markets have become linked, and identifies several of the more important consequences of that increased degree of integration. Alternative approaches to the measurement of capital market integration are reviewed, including deviations from the law of one price, differences between actual and optimally diversified portfolios, correlations between domestic investment and domestic saving, and cross-country links in consumption behavior. Two recent episodes of large-scale international capital flows—namely, the turmoil in the European Monetary System in the fall of 1992, and the surge of capital inflows into Latin America during the last three years—are examined for insights into the workings of today’s global capital market. Finally, the paper offers some concluding remarks on the future development of international capital markets, on exchange rate management, on alternative approaches to living with larger and more influential financial markets, and on the financing of investment in the formerly centrally planned economies.
Stock market integration between developing and emerging markets has numerous benefits for creating a global - yet stable - world economy. It increases competition and the efficiency of local markets, in turn reducing price volatility and the cost of capital among integrated markets. It also generates capital flows, which enhance financial stability and spur economic growth. At its core, stock market integration has an important role to play in both developing and emerging markets still reeling from the global financial crisis. Global Stock Market Integration analyzes the financial makeup of developing and emerging markets around the world, providing empirical insights into market integration, co-movements in price, crises, and efficiency linkages. Mobarek and Mollah argue that the relationship between market integration and market efficiency within developing and emerging countries is not the only measure necessary for effecting real financial growth. This work brings the review of theories and empirical research on the topic up-to-date and expands the existing literature with new perspectives on developed and emerging markets.
Book Synopsis Global Stock Market Integration by : Sabur Mollah
Download or read book Global Stock Market Integration written by Sabur Mollah and published by Palgrave Macmillan. This book was released on 2015-11-17 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Stock market integration between developing and emerging markets has numerous benefits for creating a global - yet stable - world economy. It increases competition and the efficiency of local markets, in turn reducing price volatility and the cost of capital among integrated markets. It also generates capital flows, which enhance financial stability and spur economic growth. At its core, stock market integration has an important role to play in both developing and emerging markets still reeling from the global financial crisis. Global Stock Market Integration analyzes the financial makeup of developing and emerging markets around the world, providing empirical insights into market integration, co-movements in price, crises, and efficiency linkages. Mobarek and Mollah argue that the relationship between market integration and market efficiency within developing and emerging countries is not the only measure necessary for effecting real financial growth. This work brings the review of theories and empirical research on the topic up-to-date and expands the existing literature with new perspectives on developed and emerging markets.
The integration of international capital markets is central to the major economic changes taking place throughout the world. This key issue in global finance is analyzed, both theoretically and empirically, in this book.
Book Synopsis The Integration of International Capital Markets by : Haluk Akdoğan
Download or read book The Integration of International Capital Markets written by Haluk Akdoğan and published by Edward Elgar Publishing. This book was released on 1995 with total page 214 pages. Available in PDF, EPUB and Kindle. Book excerpt: The integration of international capital markets is central to the major economic changes taking place throughout the world. This key issue in global finance is analyzed, both theoretically and empirically, in this book.
This book builds on a year-long discussion with a group of academics, policy-makers and industry experts to provide a long-term contribution to the Capital Markets Union project, launched by the European Commission in 2015. It identifies 36 cross-border barriers to capital mar...
Book Synopsis Europe's Untapped Capital Market by : Diego Valiante
Download or read book Europe's Untapped Capital Market written by Diego Valiante and published by Centre for European Policy Studies. This book was released on 2016 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book builds on a year-long discussion with a group of academics, policy-makers and industry experts to provide a long-term contribution to the Capital Markets Union project, launched by the European Commission in 2015. It identifies 36 cross-border barriers to capital mar...
The IMF Working Papers series is designed to make IMF staff research available to a wide audience. Almost 300 Working Papers are released each year, covering a wide range of theoretical and analytical topics, including balance of payments, monetary and fiscal issues, global liquidity, and national and international economic developments.
Book Synopsis Consumption, Income, and International Capital Market Integration by : Mr.Tamim Bayoumi
Download or read book Consumption, Income, and International Capital Market Integration written by Mr.Tamim Bayoumi and published by International Monetary Fund. This book was released on 1994-10-01 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt: The IMF Working Papers series is designed to make IMF staff research available to a wide audience. Almost 300 Working Papers are released each year, covering a wide range of theoretical and analytical topics, including balance of payments, monetary and fiscal issues, global liquidity, and national and international economic developments.
