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010   $a9786612842740
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035   $a(PQKBTitleCode)TC0000941192
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100   $a20090616d2009      uf             0
101 0 $aeng
181   $ctxt
182   $cc
183   $acr
200 10$aGlobal liquidity, risk premiums and growth opportunities$b[electronic resource] /$fprepared by Gianni De Nicolo? & Iryna V. Ivaschenko
210   $a[Washington, DC] $cIMF$d2009
215   $a1 online resource (45 p.)
225 1 $aIMF working paper ;$vWP/09/52
300   $a"March 2009".
311   $a1-4519-1635-3 
320   $aIncludes bibliographical references.
327   $aCover Page; Title Page; Copyright Page; Contents; I. Introduction; II. Liquidity Indicators: Theory and Measurement; A. A simple model of liquidity; B. Measurement; III. Liquidity Indicators: Evidence; A. Data; B. Descriptive Statistics; 1. Global Liquidity Indicators; 2. G-7 Equity and Bond Liquidity Indicators; 3. Emerging Markets Liquidity Indicators: Latin America; 4. Emerging Markets Liquidity Indicators: Asia; 5. Emerging Markets Liquidity Indicators: Europe; 6. Liquidity Indicators: Mean and Standard Deviation; C. Dynamics and Co-Movements; 7. Liquidity Indicators: Trend Coefficients
327   $a1. Fixed Effect Panel Regressions 2. Liquidity Indicators: Dynamics of Cross Sectional Variances; 8. Liquidity Indicators: Correlations; D. Systemic Liquidity Shocks; 9. Indicators of Global Systemic Liquidity Shocks; 3. Bi-variate VAR of Global Equity and Bond Systemic Liquidity Shocks; IV. Liquidity and bond premiums; A. Advanced Economies; 4. Government Bond Spreads and Liquidity: Advanced Economies; B. Emerging Economies; 5. EMBI Spreads and Liquidity: Emerging Economies; V. Liquidity and growth opportunities; 6. Price-Earning (PE) Ratios and Liquidity; VI. Conclusion; References
327   $aFootnotes
330   $aThis paper constructs new indicators of liquidity for equity, bond and money markets in major advanced and emerging market countries, documents their evolution and comovements, and assesses the extent to which such measures are determinants of selected spreads and proxy measures of countries' growth opportunities. Three main results obtain. First, there is evidence of an historical increase in market liquidity since the early 1990's, in part as a result of advances in international financial integration, but markets have been increasingly exposed to global systemic liquidity shocks...
410  0$aIMF working paper ;$vWP/09/52.
606   $aLiquidity (Economics)
606   $aRisk management
606   $aEconomic development
608   $aElectronic books.
615  0$aLiquidity (Economics)
615  0$aRisk management.
615  0$aEconomic development.
676   $a332.1
676   $a332.10688
700   $aDe Nicolo?$b Gianni$0375199
701   $aIvaschenko$b Iryna V$0933505
712 02$aInternational Monetary Fund.$bResearch Dept.
801  0$bMiAaPQ
801  1$bMiAaPQ
801  2$bMiAaPQ
906   $aBOOK
912   $a9910464256203321
996   $aGlobal liquidity, risk premiums and growth opportunities$92101447
997   $aUNINA