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Consequences of Asset Shortages in Emerging Markets

Consequences of Asset Shortages in Emerging Markets »

Source: Consequences of Asset Shortages in Emerging Markets

Volume/Issue: 2012/102

Series: IMF Working Papers

Author(s): Patrick Imam , and Jiaqian Chen

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 April 2012

ISBN: 9781475502923

Keywords: Asset Shortage, Emerging Market, Crisis, Asset Bubble, financial assets, bond, bonds, asset bubbles, Money and Interest Rates: General, Financial Economics: General,

We assess econometrically the impact of asset shortages on economic growth, asset bubbles, the probability of a crisis, and the current account for a group of 41 Emerging markets for 1995-2008. The econometric esti...

Financial Integration and Risk-Adjusted Growth Opportunities

Financial Integration and Risk-Adjusted Growth Opportunities »

Source: Financial Integration and Risk-Adjusted Growth Opportunities

Volume/Issue: 2008/126

Series: IMF Working Papers

Author(s): Iryna Ivaschenko , and Gianni De Nicolo

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 2008

ISBN: 9781451869866

Keywords: growth opportunities, openness, financial development, financial globalization, european financial integration, foreign assets, financial deepening,

This paper documents the evolution of measures of financial integration for major advanced and emerging markets economies, assesses whether advances in integration have had a significant positive impact on countrie...

Assessing Default Risks for Chinese Firms

Assessing Default Risks for Chinese Firms »

Source: Assessing Default Risks for Chinese Firms : A Lost Cause?

Volume/Issue: 2015/140

Series: IMF Working Papers

Author(s): Daniel Law , and Shaun Roache

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 26 June 2015

ISBN: 9781513597584

Keywords: default probabilities, equity, market, Asset Pricing, Financial Forecasting and Simulation,

Assessing default risks for Chinese firms is hard. Standard measures of risk using market indicators may be unreliable because of implicit guarantees, the large role played by less-informed investors, and other mar...

Spillovers from China

Spillovers from China »

Source: Spillovers from China : Financial Channels

Volume/Issue: 2016/05

Series: Spillover Notes

Author(s): Nkunde Mwase , Papa N'Diaye , Hiroko Oura , Frantisek Ricka , Katsiaryna Svirydzenka , and Yuanyan Zhang

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 27 September 2016

ISBN: 9781475539486

Keywords: Spillovers, China, Asia and Pacific, Commodities, Asset markets, Assets, Trade, Global financial markets, transition, growth path

Although China's much-needed transition to a new growth path is proceeding broadly as expected, the transition is still fraught with uncertainty, including regarding the Chinese authorities' ability to achieve a sm...

Causes of Asset Shortages in Emerging Markets

Causes of Asset Shortages in Emerging Markets »

Source: Causes of Asset Shortages in Emerging Markets

Volume/Issue: 2011/114

Series: IMF Working Papers

Author(s): Jiaqian Chen , and Patrick Imam

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 2011

ISBN: 9781455262373

Keywords: Asset Shortage, Emerging Market, Capital Market, Regulation, financial assets, interest rates, capital markets, capital account, pension funds, Money and Interest Rates: General

We first illustrate that emerging markets (EMs) face a shortage of financial assets, with financial assets not growing as rapidly as domestic savings. We then estimate the asset shortage in EMs for 1995-2008. We de...

Financial Integration in Asia

Financial Integration in Asia »

Source: Financial Integration in Asia : Estimating the Risk-Sharing Gains for Australia and Other Nations

Volume/Issue: 2006/267

Series: IMF Working Papers

Author(s): Benoît Mercereau

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 2006

ISBN: 9781451865271

Keywords: Risk-sharing, international diversification, financial integration, foreign assets, recession, international economic order, Financial Aspects of Economic Integration,

Holding foreign assets reduces the volatility of a country's income by allowing countries to share risk. Yet, financial integration is limited in Asia. This paper estimates how much Australia and other countries in...

Country Transparency and the Global Transmission of Financial Shocks

Country Transparency and the Global Transmission of Financial Shocks »

Source: Country Transparency and the Global Transmission of Financial Shocks

Volume/Issue: 2013/156

Series: IMF Working Papers

Author(s): Luis Brandao Marques , R. Gelos , and Natalia Melgar

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 03 July 2013

ISBN: 9781484397237

Keywords: transmission of global financial shocks, bond, stock returns, equity markets, bond spreads, bond returns, Asset Pricing,

This paper considers the role of country-level opacity (the lack of availability of information) in amplifying shocks emanating from financial centers. We provide a simple model where, in the presence of ambiguity...

Financial Integration and Rebalancing in Asia

Financial Integration and Rebalancing in Asia »

Source: Financial Integration and Rebalancing in Asia

Volume/Issue: 2011/243

Series: IMF Working Papers

Author(s): Olaf Unteroberdoerster , and Runchana Pongsaparn

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 October 2011

ISBN: 9781463922641

Keywords: Financial Development, Rebalancing, portfolio investment, fdi, direct investment, portfolio investment assets, Macroeconomics: Consumption, Saving, Production, Employment and Investment: Other

The paper shows that Asia's degree of financial integration, both with the world and within the region remains low by various measures. The paper also provides empirical evidence that greater financial integration...

Optimal Liquidity and Economic Stability

Optimal Liquidity and Economic Stability »

Source: Optimal Liquidity and Economic Stability

Volume/Issue: 2012/135

Series: IMF Working Papers

Author(s): Linghui Han , and Il Lee

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 2012

ISBN: 9781475503883

Keywords: financial assets, financial sector, monetary aggregate, Methodology for Collecting, Estimating, and Organizing Macroeconomic Data, Monetary Policy, Central Banking, and the Supply of Money and Credit: General, Dynamic Panel,

Monetary aggregates are now much less used as policy instruments as identifying the right measure has become difficult and interest rate transmission has worked well in an increasingly complex financial system. In...

How Might a Disorderly Resolution of Global Imbalances Affect Global Wealth?

How Might a Disorderly Resolution of Global Imbalances Affect Global Wealth? »

Source: How Might a Disorderly Resolution of Global Imbalances Affect Global Wealth?

Volume/Issue: 2006/170

Series: IMF Working Papers

Author(s): Francis Warnock

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 2006

ISBN: 9781451864304

Keywords: U.S. asset holdings, global asset portfolios, disorderly currency adjustments, global current account imbalances, cpis, bonds, bond, bond markets, financial markets, International Lending and Debt Problems

Partly reflecting structural advantages such a liquidity and strong investor protection, foreigners have built up extremely large positions in U.S. (as well as other dollar-denominated) financial assets. This paper...