Local Currency Bond Markets - A Diagnostic Framework
Title | Local Currency Bond Markets - A Diagnostic Framework PDF eBook |
Author | World Bank |
Publisher | International Monetary Fund |
Pages | 40 |
Release | 2013-07-09 |
Genre | Business & Economics |
ISBN | 1498341527 |
In November 2011, the G-20 endorsed an action plan to support the development of local currency bond markets (LCBM). International institutions—the IMF, the World Bank, the EBRD, and the OECD—were asked to draw on their experience to develop a diagnostic framework (DF) to identify general preconditions, key components, and constraints for successful LCBM development. The objective is to provide a tool for analyzing the state of development and efficiency of local currency bond markets. The application of the DF is expected to be flexible, bearing in mind that the potential for LCBM development depends on economic size, financing needs, and stage of economic development.
Guidance Note For Developing Government Local Currency Bond Markets
Title | Guidance Note For Developing Government Local Currency Bond Markets PDF eBook |
Author | International Monetary Fund |
Publisher | International Monetary Fund |
Pages | 157 |
Release | 2021-03-12 |
Genre | Business & Economics |
ISBN | 1513573926 |
This guidance note was prepared by International Monetary Fund (IMF) and World Bank Group staff under a project undertaken with the support of grants from the Financial Sector Reform and Strengthening Initiative, (FIRST).The aim of the project was to deliver a report that provides emerging market and developing economies with guidance and a roadmap in developing their local currency bond markets (LCBMs). This note will also inform technical assistance missions in advising authorities on the formulation of policies to deepen LCBMs.
Exploring the Role of Foreign Investors in Russia's Local Currency Government Bond (OFZ) Market
Title | Exploring the Role of Foreign Investors in Russia's Local Currency Government Bond (OFZ) Market PDF eBook |
Author | Yinqiu Lu |
Publisher | International Monetary Fund |
Pages | 37 |
Release | 2017-02-10 |
Genre | Business & Economics |
ISBN | 1475577583 |
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 focus on foreign investors. As this fixed-income market has experienced a liberalization of the domestic trading and settlement infrastructure, and weathered several episodes of market stresses since the 2008–09 global financial crisis, the role of foreign investors can be observed along with these events. What we have found is that foreign investors had influenced the market before they became an important player and since then they have contributed to the development of the market while not necessarily destabilizing it in episodes of shocks.
Developing Government Bond Markets: A Handbook
Title | Developing Government Bond Markets: A Handbook PDF eBook |
Author | |
Publisher | World Bank Publications |
Pages | 452 |
Release | 2001-09-21 |
Genre | Business & Economics |
ISBN | 9780821349557 |
This handbook is a comprehensive and authoritative reference for both senior policymakers—those responsible for the development of government bond markets in their own countries—and all individuals responsible for guiding the market development process at the operational level—those who have a substantial need to understand the policy issues involved.
Good Practices for Developing a Local Currency Bond Market
Title | Good Practices for Developing a Local Currency Bond Market PDF eBook |
Author | Asian Development Bank |
Publisher | Asian Development Bank |
Pages | 350 |
Release | 2019-05-01 |
Genre | Business & Economics |
ISBN | 9292616110 |
Local currency bond markets in ASEAN+3 play an important role in diversifying financial intermediary channels and mitigating the impacts of financial crises. They also have the potential to help mobilize developing Asia's significant savings to meet the region's enormous infrastructure investment needs. Drawing extensively on knowledge generated by the ASEAN+3 Bond Market Forum, the publication looks at the essential building blocks and the enabling environment for these markets, as well as the roles of government, relevant authorities, and market participants.
The Development of Local Capital Markets
Title | The Development of Local Capital Markets PDF eBook |
Author | Mr.Luc Laeven |
Publisher | International Monetary Fund |
Pages | 25 |
Release | 2014-12-19 |
Genre | Business & Economics |
ISBN | 1498372201 |
Capital markets can improve risk sharing and the efficiency with which capital is allocated to the real economy, boosting economic growth and welfare. However, despite these potential benefits, not all countries have well developed capital markets. Moreover, government-led initiatives to develop local capital markets have had mixed success. This paper reviews the literature on the benefits and costs of developing local capital markets, and describes the challenges faced in the development of such markets. The paper concludes with a set of policy recommendations emerging from this literature.
Global Waves of Debt
Title | Global Waves of Debt PDF eBook |
Author | M. Ayhan Kose |
Publisher | World Bank Publications |
Pages | 403 |
Release | 2021-03-03 |
Genre | Business & Economics |
ISBN | 1464815453 |
The global economy has experienced four waves of rapid debt accumulation over the past 50 years. The first three debt waves ended with financial crises in many emerging market and developing economies. During the current wave, which started in 2010, the increase in debt in these economies has already been larger, faster, and broader-based than in the previous three waves. Current low interest rates mitigate some of the risks associated with high debt. However, emerging market and developing economies are also confronted by weak growth prospects, mounting vulnerabilities, and elevated global risks. A menu of policy options is available to reduce the likelihood that the current debt wave will end in crisis and, if crises do take place, will alleviate their impact.