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Author: Maurice Obstfeld
Publisher: Cambridge University Press
Published: 2004
Total Pages: 386
ISBN-13: 9780521671798
DOWNLOAD EBOOK →This book is an economic survey of international capital mobility from the late nineteenth century to the present.
Author: Sourajit Aiyer
Publisher: Elsevier
Published: 2016-11-03
Total Pages: 156
ISBN-13: 0081019165
DOWNLOAD EBOOK →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
Author: Mr.Masafumi Yabara
Publisher: International Monetary Fund
Published: 2012-01-01
Total Pages: 31
ISBN-13: 1463971826
DOWNLOAD EBOOK →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.
Author: E. Dorodnykh
Publisher: Springer
Published: 2013-11-04
Total Pages: 103
ISBN-13: 1137381701
DOWNLOAD EBOOK →This book provides an original approach to the determinants of stock exchange integration. With case studies of successful integration projects in Europe, North America, Latin America as well as intercontinental cross-border mergers, it provides a complete analysis of all existing integration projects between stock exchange markets.
Author: Scott McCleskey
Publisher: Butterworth-Heinemann
Published: 2004-01-02
Total Pages: 184
ISBN-13: 9780750657457
DOWNLOAD EBOOK →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.
Author: Asian Development Bank
Publisher: Oxford University Press, USA
Published: 2014
Total Pages: 0
ISBN-13: 9780198099451
DOWNLOAD EBOOK →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.
Author: Mr.Michael Mussa
Publisher: International Monetary Fund
Published: 1993-12-01
Total Pages: 66
ISBN-13: 145195039X
DOWNLOAD EBOOK →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.
Author: Diego Valiante
Publisher: Centre for European Policy Studies
Published: 2016
Total Pages: 0
ISBN-13: 9781786600448
DOWNLOAD EBOOK →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...
Author: Haluk Akdoğan
Publisher: Edward Elgar Publishing
Published: 1995
Total Pages: 214
ISBN-13:
DOWNLOAD EBOOK →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.
Author: Mr.Tamim Bayoumi
Publisher: International Monetary Fund
Published: 1994-10-01
Total Pages: 26
ISBN-13: 1451939698
DOWNLOAD EBOOK →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.
