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What Slice of the Pie? The Corporate Bond Market Boom in Emerging Economies1

What Slice of the Pie? The Corporate Bond Market Boom in Emerging Economies1 »

Source: What Slice of the Pie? The Corporate Bond Market Boom in Emerging Economies

Volume/Issue: 2015/148

Series: IMF Working Papers

Author(s): Diana Ayala Pena , Milan Nedeljkovic , and Christian Saborowski

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 07 July 2015

ISBN: 9781513579757

Keywords: bond, markets, debt, market, General, General, General,

This paper studies the determinants of shifts in debt composition among EM non-financial corporates. We show that institutions and macro fundamentals create an enabling environment for bond market development. Duri...

Foreign Participation in Emerging Markets’ Local Currency Bond Markets

Foreign Participation in Emerging Markets’ Local Currency Bond Markets »

Source: Foreign Participation in Emerging Markets' Local Currency Bond Markets

Volume/Issue: 2010/88

Series: IMF Working Papers

Author(s): Shanaka Peiris

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 April 2010

ISBN: 9781451982602

Keywords: Emerging Market Economies, bond, bond yields, government bond, government bond yields,

This paper estimates the impact of foreign participation in determining long-term local currency government bond yields and volatility in a group of emerging markets from 2000-2009. The results of a panel data anal...

Emerging Market Bond Spreads and Sovereign Credit Ratings

Emerging Market Bond Spreads and Sovereign Credit Ratings »

Source: Emerging Market Bond Spreads and Sovereign Credit Ratings : Reconciling Market Views with Economic Fundamentals

Volume/Issue: 2001/165

Series: IMF Working Papers

Author(s): Amadou Sy

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 October 2001

ISBN: 9781451858051

Keywords: Bond spreads, monitoring, risk appetite, bond, bonds, emerging market bond, market bond, Financial Institutions and Services: General,

This paper uses a panel data estimation of a simple univariate model of sovereign spreads on ratings to analyze statistically significant deviations from the estimated relationship. We find evidence of an asymmetri...

Macroeconomic Fundamentals, Price Discovery and Volatility Dynamics in Emerging Markets

Macroeconomic Fundamentals, Price Discovery and Volatility Dynamics in Emerging Markets »

Source: Macroeconomic Fundamentals, Price Discovery and Volatility Dynamics in Emerging Markets

Volume/Issue: 2009/147

Series: IMF Working Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 2009

ISBN: 9781451872941

Keywords: bond pricing, macroeconomic news, survey data, news spillovers, high-frequency data, news, bond, emerging market bonds,

This study characterizes volatility dynamics in external emerging bond markets and examines how prices and volatility respond to news about macroeconomic fundamentals. As in mature bond markets, macroeconomic surpr...

Policy Responses to Capital Flows in Emerging Markets

Policy Responses to Capital Flows in Emerging Markets »

Source: Policy Responses to Capital Flows in Emerging Markets

Volume/Issue: 2011/10

Series: Staff Discussion Notes

Author(s): Mahmood Pradhan , Ravi Balakrishnan , Reza Baqir , Geoffrey Heenan , Sylwia Nowak , Ceyda Oner , and Sanjaya Panth

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 20 April 2011

ISBN: 9781463935122

Keywords: Emerging markets, Capital flows, Macroeconomic policies, Macroprudential policies, capital inflows, bond, bond yields, bonds,

Staff Discussion Notes showcase the latest policy-related analysis and research being developed by individual IMF staff and are published to elicit comment and to further debate. These papers are generally brief an...

Financial Spillovers to Emerging Markets During the Global Financial Crisis

Financial Spillovers to Emerging Markets During the Global Financial Crisis »

Source: Financial Spillovers to Emerging Markets During the Global Financial Crisis

Volume/Issue: 2009/104

Series: IMF Working Papers

Author(s): Nathaniel Frank , and Heiko Hesse

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 2009

ISBN: 9781451872514

Keywords: Subprime Crisis, Solvency, GARCH, bond, stock market, financial institutions,

In this paper potential financial linkages between liquidity and bank solvency measures in advanced economies and emerging market (EM) bond and stock markets are analyzedduring the latest crisis. A multivariate GAR...

The Impact of Macroeconomic Announcements on Emerging Market Bonds

The Impact of Macroeconomic Announcements on Emerging Market Bonds »

Source: The Impact of Macroeconomic Announcements on Emerging Market Bonds

Volume/Issue: 2005/83

Series: IMF Working Papers

Author(s): Jochen Andritzky , Geoffrey Bannister , and Natalia Tamirisa

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 April 2005

ISBN: 9781451861020

Keywords: Announcement, emerging market bonds, news, crisis, bond, equation, bonds, financial markets, anova,

This paper examines how emerging bond markets react to macroeconomic announcements. Global bond spreads respond to rating actions and changes in global interest rates rather than domestic data and policy announceme...

Bank Rating Changes and Bank Stock Returns-Puzzling Evidence from the Emerging Markets

Bank Rating Changes and Bank Stock Returns-Puzzling Evidence from the Emerging Markets »

Source: Bank Rating Changes and Bank Stock Returns-Puzzling Evidence from the Emerging Markets

Volume/Issue: 1999/151

Series: IMF Working Papers

Author(s): Anthony Richards , and David Deddouche

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 November 1999

ISBN: 9781451857016

Keywords: Event Study, Rating Changes, Bank Stock Prices, bond, stock prices, stock market, bank stocks, stock returns

This paper examines the performance of emerging market bank stocks around the time of rating changes by major international agencies. The data suggest that downgrades on average have followed periods of negative cu...

The Corporation of Foreign Bondholders

The Corporation of Foreign Bondholders »

Source: The Corporation of Foreign Bondholders

Volume/Issue: 2003/107

Series: IMF Working Papers

Author(s): Paolo Mauro , and Yishay Yafeh

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 2003

ISBN: 9781451853001

Keywords: foreign bondholders, bond finance, creditor coordination, bondholders, bonds, debt, creditors, creditor, Financial Aspects of Economic Integration, Economic History: Financial Markets and Institutions: General

This paper analyzes the Corporation of Foreign Bondholders (CFB), an association of British investors holding bonds issued by foreign governments. The CFB played a key role during the heyday of international bond f...

IMF EXECUTIVE BOARD: Work Program to Accelerate IMF Reform

IMF EXECUTIVE BOARD: Work Program to Accelerate IMF Reform »

Source: IMF Survey, Volume 37, Issue 01

Volume/Issue: 37/1

Series: IMF Survey

Author(s): International Monetary Fund. External Relations Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 22 January 2008

ISBN: 9781451967494

Keywords: low-income countries, legal status, world growth, work program, Banks And Banking. Asset Securitization, Bond Market, Capital Market, Carbon Taxes, Economic Development. Environmental Aspects, Environmental Policy. International Cooperation

Work Program, IMF Reform, Local Bond Markets, Lipsky Sees Slower Growth, Climate Change, Lipsky Interviewed, Fiscal Spending in G-7, Korea Health Check, Loan for Guinea, Technical Assistance, Indonesia, Chile's Eco...