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Instruments, Investor Base, and Recent Developments in the Malaysian Government Bond Market

Instruments, Investor Base, and Recent Developments in the Malaysian Government Bond Market »

Volume/Issue: 2018/95

Series: IMF Working Papers

Author(s): Yinqiu Lu , and Dmitry Yakovlev

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 26 April 2018

DOI: http://dx.doi.org/10.5089/9781484353073.001

ISBN: 9781484353073

Keywords: Asia and Pacific, International financial markets, Malaysia, local currency government bonds; FX derivatives; Malaysia, local currency government bonds, FX derivatives, Financial Markets and the Macroeconomy, General

Foreign holdings of Malaysian local currency (LCY) government bonds have increased since the global financial crisis. By exploring the micro-level bank by bank and fund by fund data, we are able to shed light on th...

Instruments, Investor Base, and Recent Developments in the Malaysian Government Bond Market

Instruments, Investor Base, and Recent Developments in the Malaysian Government Bond Market »

Source: Instruments, Investor Base, and Recent Developments in the Malaysian Government Bond Market

Volume/Issue: 2018/95

Series: IMF Working Papers

Author(s): Yinqiu Lu , and Dmitry Yakovlev

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 26 April 2018

ISBN: 9781484353073

Keywords: Asia and Pacific, International financial markets, Malaysia, local currency government bonds; FX derivatives; Malaysia, local currency government bonds, FX derivatives, Financial Markets and the Macroeconomy, General

Foreign holdings of Malaysian local currency (LCY) government bonds have increased since the global financial crisis. By exploring the micro-level bank by bank and fund by fund data, we are able to shed light on th...

How Important is the Global Financial Cycle? Evidence from Capital Flows*

How Important is the Global Financial Cycle? Evidence from Capital Flows* »

Source: How Important is the Global Financial Cycle? Evidence from Capital Flows

Volume/Issue: 2017/193

Series: IMF Working Papers

Author(s): Eugenio Cerutti , Stijn Claessens , and Andrew Rose

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 September 2017

ISBN: 9781484316603

Keywords: Capital flows, Globalization, Monetary policy, Financial cycles, Panel analysis, Cross-country analysis, Capital market volatility, empirical; data; center; country; panel; fit; VIX; equity; bonds; FDI; credit, empirical, data

This study quantifies the importance of a Global Financial Cycle (GFCy) for capital flows. We use capital flow data dis-aggregated by direction and type between 1990Q1 and 2015Q5 for 85 countries, and conventional...

How Important is the Global Financial Cycle? Evidence from Capital Flows

How Important is the Global Financial Cycle? Evidence from Capital Flows »

Volume/Issue: 2017/193

Series: IMF Working Papers

Author(s): Eugenio Cerutti , Stijn Claessens , and Andrew Rose

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 September 2017

DOI: http://dx.doi.org/10.5089/9781484316603.001

ISBN: 9781484316603

Keywords: Capital flows, Globalization, Monetary policy, Financial cycles, Panel analysis, Cross-country analysis, Capital market volatility, empirical; data; center; country; panel; fit; VIX; equity; bonds; FDI; credit, empirical, data

This study quantifies the importance of a Global Financial Cycle (GFCy) for capital flows. We use capital flow data dis-aggregated by direction and type between 1990Q1 and 2015Q5 for 85 countries, and conventional...

Debt Limits and the Structure of Public Debt1

Debt Limits and the Structure of Public Debt1 »

Source: Debt Limits and the Structure of Public Debt

Volume/Issue: 2017/117

Series: IMF Working Papers

Author(s): Alex Pienkowski

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 22 May 2017

ISBN: 9781484300657

Keywords: Sovereign debt, debt limits, sovereign default, state-contingent debt, GDP-linked bonds, International Lending and Debt Problems

This paper provides a tractable framework to assess how the structure of debt instruments-specifically by currency denomination and indexation to GDP-can raise the debt limit of a sovereign. By calibrating the mode...

IMF Discussed State - Contingent Debt Instruments

IMF Discussed State - Contingent Debt Instruments »

Source: State-Contingent Debt Instruments for Sovereigns

Volume/Issue: 2017/023

Series: Policy Papers

Author(s): International Monetary Fund. Asia and Pacific Dept;International Monetary Fund. Strategy, Policy, & Review Department;International Monetary Fund. Legal Dept.;International Monetary Fund. Monetary and Capital Markets Department

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 22 May 2017

ISBN: 9781498346818

Keywords: Bonds, Financial instruments, Fiscal policy, Fiscal risk, Investment, Risk management, Sovereign debt, Multilateral development institutions, Economic conditions, Development

Background. The case for sovereign state-contingent debt instruments (SCDIs) as a countercyclical and risk-sharing tool has been around for some time and remains appealing; but take-up has been limited. Earlier sta...

State-Contingent Debt Instruments for Sovereigns

State-Contingent Debt Instruments for Sovereigns »

Volume/Issue: 2017/023

Series: Policy Papers

Author(s): International Monetary Fund. Asia and Pacific Dept;International Monetary Fund. Strategy, Policy, & Review Department;International Monetary Fund. Legal Dept.;International Monetary Fund. Monetary and Capital Markets Department

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 22 May 2017

DOI: http://dx.doi.org/10.5089/9781498346818.007

ISBN: 9781498346818

Keywords: Bonds, Financial instruments, Fiscal policy, Fiscal risk, Investment, Risk management, Sovereign debt, Multilateral development institutions, Economic conditions, Development

Background. The case for sovereign state-contingent debt instruments (SCDIs) as a countercyclical and risk-sharing tool has been around for some time and remains appealing; but take-up has been limited. Earlier sta...

Debt Limits and the Structure of Public Debt

Debt Limits and the Structure of Public Debt »

Volume/Issue: 2017/117

Series: IMF Working Papers

Author(s): Alex Pienkowski

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 22 May 2017

DOI: http://dx.doi.org/10.5089/9781484300657.001

ISBN: 9781484300657

Keywords: Sovereign debt, debt limits, sovereign default, state-contingent debt, GDP-linked bonds, International Lending and Debt Problems

This paper provides a tractable framework to assess how the structure of debt instruments-specifically by currency denomination and indexation to GDP-can raise the debt limit of a sovereign. By calibrating the mode...

State-Contingent Debt Instruments for Sovereigns

State-Contingent Debt Instruments for Sovereigns »

Source: State-Contingent Debt Instruments for Sovereigns

Volume/Issue: 2017/023

Series: Policy Papers

Author(s): International Monetary Fund. Asia and Pacific Dept;International Monetary Fund. Strategy, Policy, & Review Department;International Monetary Fund. Legal Dept.;International Monetary Fund. Monetary and Capital Markets Department

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 22 May 2017

ISBN: 9781498346818

Keywords: Bonds, Financial instruments, Fiscal policy, Fiscal risk, Investment, Risk management, Sovereign debt, Multilateral development institutions, Economic conditions, Development

Background. The case for sovereign state-contingent debt instruments (SCDIs) as a countercyclical and risk-sharing tool has been around for some time and remains appealing; but take-up has been limited. Earlier sta...

Exploring the Role of Foreign Investors in Russia's Local Currency Government Bond (OFZ) Market

Exploring the Role of Foreign Investors in Russia's Local Currency Government Bond (OFZ) Market »

Source: Exploring the Role of Foreign Investors in Russia's Local Currency Government Bond (OFZ) Market

Volume/Issue: 2017/28

Series: IMF Working Papers

Author(s): Yinqiu Lu , and Dmitry Yakovlev

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 10 February 2017

ISBN: 9781475577587

Keywords: Europe, Bond markets, Bonds, Currencies, Russian Federation, Foreign investment, International financial markets, Supply and demand, local currency government bonds; Russia; financial market development, local currency government bonds

Local currency government bonds (OFZ bonds) are an important fixed-income instrument in Russia's financial markets. In this paper, based on granular data, we explore the development of the OFZ bond market with a fo...