Asia's Debt Capital Markets: Prospects and Strategies for Development: 6 - Rilegato

Rilegato

ISBN 10: 0387250891 ISBN 13: 9780387250892

Casa editrice: Springer-Verlag GmbH, 2006

Riassunto

The Development of Effective Securities Markets Gary Schinasi International Monetary Fund One of the more important lessons of the crisis of the 1990s―^not just the Asian Crisis―is that the performance and structure of a country's financial system is an important fundamental factor for assessing that coimtry's overall economic performance and prospects, and as a destination for investment and asset returns. Market participants that are presently managing international portfolios now understand this very well. And as we all know, many countries are making strong efforts to reform their financial infrastructures, and move their financial systems more in the direction of a market-intermediated financial system and away from an exclusively bank-intermediated system. These reform efforts are putting in place some of the important infrastructure elements that are necessary for developing effective securities markets. However, emphasis should be placed on the word necessary: as many of these measures, and all of them taken together, are only necessary and not sufficient for estabUshing effective security markets.

Su questo libro

Dalla quarta di copertina

Asia’s Debt Capital Markets: Prospects and Strategies for Development contains articles that share an important feature – an assessment of current and future prospects for developing debt capital markets in Asia. Some articles examine recent national or regionally sponsored actions to stimulate the development of these markets, while others provide specific proposals that are designed to expand such markets. The motivation for the articles is the fact that eight years of post-crisis discussion has not yet resulted in sufficient actions to broaden and deepen debt capital markets. Yet the role and value of such markets for economic growth and development is undisputed. The articles in this book make an important contribution in identifying obstacles to reform as well as in proposing ways to develop debt capital markets.

The book has three parts. Part I describes the characteristics and historical origins of these markets. Part II examines the contemporary bond markets and shows how they contribute to general welfare, describes the relationship between the banking sector and capital markets, and assesses prospects for reform in Asia's governmental and corporate debt markets. Part III explains the micro-level impediments and obstacles that must be the first targets of any reform efforts, provides an appraisal of attempts at regional cooperation to stimulate structural reform, and lastly contributes proposals to accelerate the growth and reach of bond markets throughout Asia.

Dettagli dell'edizione

• Editore: Springer-Verlag GmbH
• Data di pubblicazione: 2006
• Lingua: Inglese
• ISBN 10: 0387250891
• ISBN 13: 9780387250892
• Rilegatura: Copertina rigida
• Numero di pagine: 336
• Redattore: Arner Douglas W., Liu Qiao, Lejot Paul, Park Jae-Ha
• Contatto del produttore: non disponibile
• Persona responsabile: Springer Nature Customer Service Center GmbH; ProductSafety@springernature.com; ; Europaplatz 3,69115 Heidelberg, Germany; Heidelberg; 69115; Germania