Asias Debt Capital Markets PDF Download
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Author | : Douglas W. Arner |
Publisher | : Springer Science & Business Media |
Total Pages | : 328 |
Release | : 2006-12-11 |
Genre | : Business & Economics |
ISBN | : 0387250905 |
Download Asia's Debt Capital Markets Book in PDF, ePub and Kindle
This volume comprises studies by leading research scholars in the United States and Asia on Asia’s debt capital markets. The book is unique in drawing upon the research, experience and perspectives of experts from the academic, legal, governmental and practical investment fields. They assess the risks and opportunities, and strategies for developing these markets. The authors adopt a multidisciplinary approach, encompassing economics, finance and law.
Author | : Paul Lejot |
Publisher | : |
Total Pages | : 37 |
Release | : 2011 |
Genre | : |
ISBN | : |
Download Asia's Debt Capital Markets Book in PDF, ePub and Kindle
Markets for debt securities exist in a comprehensive way in no Asian economy other than Japan, even though short or medium-term bonds have been issued in almost all and Asian borrowers are established (though not prolific) international issuers. The markets provide no more than a simple borrowing medium for governments, banks and some companies, while investor activity is closely correlated with banking sector credit creation. Above all, the region's unfinished markets provide no guard against crisis or contagion, nor act as a balance to banking systems that are susceptible to distortion and event risk. Insufficient effort has been made to encourage activity by institutional investors.This paper is concerned with markets for tradable debt securities; and with the value and appropriateness of structured finance techniques to expand general usage of Asia's debt markets. The paper examines the condition of the domestic and offshore debt capital markets for Asia-Pacific risk. It traces common patterns of development among the established and nascent public debt securities markets in the region, and looks at the dynamics that will affect these markets in the medium term. Last, it seeks to identify whether Asian markets can be made to accommodate continuous issuing and trading activity typical of advanced economies, and to consider the associated advantages and considerations.
Author | : Ferrarini, Benno |
Publisher | : Edward Elgar Publishing |
Total Pages | : 456 |
Release | : 2022-02-22 |
Genre | : Business & Economics |
ISBN | : 1800883722 |
Download The Sustainability of Asia’s Debt Book in PDF, ePub and Kindle
This is an open access title available under the terms of a [CC BY 3.0 IGO] License. It is free to read, download and share on Elgaronline.com. Asia has shown the world what success in economic development looks like. From the amazing transformations of Japan, the Republic of Korea, and the other ‘tigers’ in the early 70s, to the more recent takeoffs of the People’s Republic of China (PRC), India, and the leading economies in Southeast Asia, the region has prospered at a startling pace. Technologies were adopted, productivity raised, and export markets conquered. Billions were lifted out of poverty. What was once a backwater is now a global engine of growth.
Author | : Mr.Mangal Goswami |
Publisher | : International Monetary Fund |
Total Pages | : 33 |
Release | : 2011-06-01 |
Genre | : Business & Economics |
ISBN | : 1455259373 |
Download The Development of Local Debt Markets in Asia Book in PDF, ePub and Kindle
The paper makes an assessment of the progress made in developing local debt markets in emerging Asia. Market development has been limited by hurdles confronting borrowers and lenders, current and potential liquidity providers, and insufficient support from government policies and regulations. Besides fostering a credit culture to deepen local debt markets, the issue of critical size can be addressed through an integrated regional market for local currency bonds that provides greater scale, efficiency, and access. With rapid economic growth in Asia, a key challenge is to generate financial assets that can provide the underlying collateral for expanding fixed-income markets, and hence domestic and regional investment opportunities.
Author | : Paul Lejot |
Publisher | : |
Total Pages | : 55 |
Release | : 2011 |
Genre | : |
ISBN | : |
Download Making Markets Book in PDF, ePub and Kindle
Liquid markets for debt securities exist comprehensively in no East Asian economy other than Japan, even though short or medium-term bonds are issued in most and Asian borrowers are established (though generally not prolific) international issuers. Today's markets provide a borrowing medium (not always effectively) for Asian governments, financial institutions and some companies, but investor activity is closely correlated with bank credit creation. Above all, the region's markets provide no real guard against crisis or contagion, nor act as a balance to banking systems susceptible to distortion and event risk. Asia's economies may not suffer general capital shortages but poor resource allocation is pervasive and would be greatly improved by efficient national and regional financial markets. Seven years after its most profound financial crisis, Asia risks new contagion from any similar, unforeseen loss of confidence. Active debt capital markets would help limit such risks. The world's foremost bond markets developed as a result of intense national needs, and while economic growth will inevitably lead to greater bond issuance and trading this will be insufficient for the region's wider requirements without official sponsorship of active cooperative market reform. This paper contains three linked policy proposals: a matrix of steps to remove legal, fiscal, regulatory or systemic obstacles or omissions that hinder market usage; measures to encourage the development of a unified regional offshore market for local and major currency risk; and the concept of a regional body to promote the creation of asset-backed securities on a scale not previously contemplated and greatly expand activity in Asia's debt markets.
Author | : Paul Lejot |
Publisher | : |
Total Pages | : 55 |
Release | : 2004 |
Genre | : Asset-backed financing |
ISBN | : |
Download Making Markets Book in PDF, ePub and Kindle
Author | : Jian Gao |
Publisher | : John Wiley & Sons |
Total Pages | : 542 |
Release | : 2011-08-31 |
Genre | : Business & Economics |
ISBN | : 1118161076 |
Download Debt Capital Markets in China Book in PDF, ePub and Kindle
An in-depth look at China’s burgeoning capital markets Author Jian Gao is the number one authority on fixed income markets in China, and with this book, he brings his considerable experience and knowledge about these markets to investors worldwide. For those interested in becoming active in China’s growing fixed income markets, Debt Capital Markets in China is the book you need to get started. It includes coverage of the primary and secondary markets, government debt instruments, corporate bonds, the collateralized bond market, and asset-backed securitizations. Debt Capital Markets in China also examines the developing market trends, which affect investors and institutions looking to make the most of this incredible financial opportunity. Dr. Jian Gao, PhD (Beijing, China) is the Vice Governor of China Development Bank (CDB).
Author | : Florian H. A. Schmidt |
Publisher | : John Wiley & Sons |
Total Pages | : 480 |
Release | : 2014-01-28 |
Genre | : Business & Economics |
ISBN | : 1118502027 |
Download A Guide to Asian High Yield Bonds Book in PDF, ePub and Kindle
An up-to-date, comprehensive analysis of the high-yield bond market in Asia Beginning with a general definition of high-yield bond products and where they reside within the corporate capital structure, this newly updated guide looks at the development of high-yield bonds in the United States and Europe before analysing this sector in Asia. It covers issuer countries and industries, ratings, and size distributions, and also covers the diversification of the high-yield issuer universe. It includes a thorough technical analysis of high-yield bond structures commonly employed in Asian transactions, including discussion of the respective covenants and security packages that vary widely across the region. Chapters and sections new to this edition cover such subjects as high-yield bond restructuring, the new high-yield "Dim Sum" market, and the high-yield placement market shutdown of 2008 – 2009. Finally, the book looks at the new characteristics of Asian economies for indicators on how the high-yield market will develop there are the near future. Offers an extremely detailed analysis of Asia's high-yield bond market Features new and updated material, including new coverage of the key differences between Asian structures and United States structures Ideal for CFOs of companies contemplating high-yield issuance, as well as investment bankers, bank credit analysts, portfolio managers, and institutional investors
Author | : Robert N. McCauley |
Publisher | : |
Total Pages | : 0 |
Release | : 2007 |
Genre | : |
ISBN | : |
Download Book Review Book in PDF, ePub and Kindle
Author | : Juthathip Jongwanich |
Publisher | : ISEAS-Yusof Ishak Institute |
Total Pages | : 232 |
Release | : 2017-08-24 |
Genre | : Business & Economics |
ISBN | : 9814786063 |
Download Capital Mobility in Asia Book in PDF, ePub and Kindle
"Asia has benefitted greatly from its integration into the world economy. But globalization has its challenges, including those that are the subject of this excellent new study: how to manage the interface with global capital markets, especially in the current, highly unusual monetary policy settings in the major economies. Dr Juthathip Jongwanich has been researching these issues for several years. In this volume she writes with great authority, providing a comprehensively, succinct and accessible examination of the many complex issues. A must-read volume for policymakers and academics alike." -- Hal Hill, H.W. Arndt Professor of Southeast Asian Economies, Australian National University span, SPAN { background-color:inherit; text-decoration:inherit; white-space:pre-wrap } "A very timely and excellent book on capital volatility. Jongwanich provides a superb analysis on the impact of capital flows on home country, exchange rates and the capital account policies. A very important book, especially for academia and policymakers." -- Muhamad Chatib Basri, Former Finance Minister of Indonesia "This timely book presents outstanding research on the determinants and effects of capital flows as well as the effectiveness of capital control policies in dealing with volatile capital flows in emerging Asian countries. It will be a useful and valuable reading for researchers and policymakers to understand the nature of cross-border capital movement and design the policies conducive to more stable and sustainable economic growth." -- Jong-Wha Lee, Professor of Economics and Director of Asiatic Research Institute, Korea University "This is an important book. Ever since the East Asian financial crisis, it has been recognized that emerging market economies are vulnerable to both excessive inflows of capital and sudden outflows. But up until now there have been few detailed empirical studies of this issue. This book looks at the key factors determining capital mobility, considers the impact of capital flows, especially on real exchange rates, and examines the possibility of effective capital controls. Jongwanich draws two key conclusions: shifting the mix of inflows towards FDI is possible and desirable, and well-functioning domestic financial markets are essential if capital inflows are to be well used." -- David Vines, Professor of Economics and Fellow of Balliol College, University of Oxford