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010   $a9786612843693
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100   $a20090903d2009      uf             0
101 0 $aeng
135   $aur|n|---|||||
181   $ctxt
182   $cc
183   $acr
200 12$aA framework for financial market development$b[electronic resource] /$fprepared by Ralph Chami, Connel Fullenkamp and Sunil Sharma
210   $aWashington, D.C. $cInternational Monetary Fund, IMF Institute$d2009
215   $a1 online resource (60 p.)
225 1 $aIMF working paper ;$vWP/09/156
300   $a"July 2009."
311   $a1-4519-1731-7 
320   $aIncludes bibliographical references.
327   $aContents; I. Introduction; II. The Framework: Key Players and their Incentives; A. Borrowers; B. Lenders; C. Liquidity Providers; D. Regulators; III. The Framework: Compromises That Define Financial Instruments; A. The Space of Financial Contracts; B. The Maturity-Collateral Compromise; C. The Seniority-Control Compromise; IV. Applying the Framework: Issues in Financial Market Development; A. Nascent Financial Markets; B. The Bond Market; C. Asset-Backed Securities; D. The Equity Market; E. Derivatives; F. The Loan Market and the Role of Banks; V. Concluding Remarks; References
330   $aThe paper proposes a framework for examining the process of financial market development. The framework, consistent with the functional view of financial system design, is anchored in studying the incentives facing the key players in financial markets-borrowers, lenders, liquidity providers, and regulators-whose actions determine whether and how markets develop. While different financial instruments embody different concessions by borrowers and lenders, the framework emphasizes the two main compromises: the tradeoffs between maturity and collateral, and between seniority and control. The frame
410  0$aIMF working paper ;$vWP/09/156.
606   $aBanks and banking
606   $aCapital market
606   $aFinancial instruments
606   $aForeign exchange market
608   $aElectronic books.
615  0$aBanks and banking.
615  0$aCapital market.
615  0$aFinancial instruments.
615  0$aForeign exchange market.
700   $aChami$b Ralph$0933130
701   $aFullenkamp$b Connel$0933131
701   $aSharma$b Sunil$0125664
712 02$aIMF Institute.
712 02$aInternational Monetary Fund.
801  0$bMiAaPQ
801  1$bMiAaPQ
801  2$bMiAaPQ
906   $aBOOK
912   $a9910464000703321
996   $aA framework for financial market development$92100260
997   $aUNINA