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[null,"1.","Record Nr.",null,"UNINA9910956154303321"]
[null,null,"Autore",null,"Lu Yinqiu"]
[null,null,"Titolo",null,"Financial Instruments to Hedge Commodity Price Risk for Developing Countries / / Yinqiu Lu, Salih Neftci"]
[null,null,"Pubbl/distr/stampa",null,"Washington, D.C. : , : International Monetary Fund, , 2008"]
[null,null,"ISBN",null,"9786612840395"]
[{"$nulls":4},"9781462397181"]
[{"$nulls":4},"1462397182"]
[{"$nulls":4},"9781452794501"]
[{"$nulls":4},"1452794502"]
[{"$nulls":4},"9781451868685"]
[{"$nulls":4},"1451868685"]
[{"$nulls":4},"9781282840393"]
[{"$nulls":4},"1282840398"]
[null,null,"Edizione",null,"[1st ed.]"]
[null,null,"Descrizione fisica",null,"1 online resource (22 p.)"]
[null,null,"Collana",null,"IMF Working Papers"]
[null,null,"Disciplina",null,"338.52091724"]
[null,null,"Soggetti",null,"Prices - Developing countries"]
[{"$nulls":4},"Commercial products - Economic aspects - Developing countries"]
[{"$nulls":4},"Revenue - Developing countries"]
[{"$nulls":4},"Options (Finance) - Developing countries"]
[{"$nulls":4},"Banks and Banking"]
[{"$nulls":4},"Capital and Ownership Structure"]
[{"$nulls":4},"Commercial products"]
[{"$nulls":4},"Commodities"]
[{"$nulls":4},"Commodity Markets"]
[{"$nulls":4},"Commodity prices"]
[{"$nulls":4},"Credit default swap"]
[{"$nulls":4},"Credit"]
[{"$nulls":4},"Derivative securities"]
[{"$nulls":4},"Finance"]
[{"$nulls":4},"Financial Instruments"]
[{"$nulls":4},"Financial Risk and Risk Management"]
[{"$nulls":4},"Financial risk management"]
[{"$nulls":4},"Financial services law & regulation"]
[{"$nulls":4},"Financing Policy"]
[{"$nulls":4},"Goodwill"]
[{"$nulls":4},"Hedging"]
[{"$nulls":4},"Institutional Investors"]
[{"$nulls":4},"Investment & securities"]
[{"$nulls":4},"Investments: Commodities"]
[{"$nulls":4},"Investments: Options"]
[{"$nulls":4},"Macroeconomics"]
[{"$nulls":4},"Monetary economics"]
[{"$nulls":4},"Monetary Policy, Central Banking, and the Supply of Money and Credit: General"]
[{"$nulls":4},"Money and Monetary Policy"]
[{"$nulls":4},"Non-bank Financial Institutions"]
[{"$nulls":4},"Options"]
[{"$nulls":4},"Pension Funds"]
[{"$nulls":4},"Prices"]
[{"$nulls":4},"Value of Firms"]
[{"$nulls":4},"Developing countries Economic policy"]
[{"$nulls":4},"Developing countries Economic conditions"]
[{"$nulls":4},"Chile"]
[null,null,"Lingua di pubblicazione",null,"Inglese"]
[null,null,"Formato",null,"Materiale a stampa"]
[null,null,null,"Livello bibliografico","Monografia"]
[null,null,null,"Note generali","\"January 2008.\""]
[null,null,null,"Nota di bibliografia","Includes bibliographical references (p. 19-20)."]
[null,null,"Nota di contenuto",null,"Contents; I. Introduction; II. Smooth fluctuations in Commodity Revenue Collections-Option Transactions; A. Plain Vanilla Options; Figures; 1. A Put Option Structure; B. Risk Reversals; Tables; 1. Prices of ATM Options; 2. Prices of 20 Percent OTM Options; 2. A Zero Premium Risk Reversal Structure; C. Barrier Option Structures; 3. Prices of the Up-and-Out Put Options: H=120; 3. A Knock-out Option; III. Smooth Borrowing Cost-A Structured Product; A. The Instrument; B. Intermediary; 4. The Structure of the New Instrument; C. Pricing; 5 The Involvement of Investment Bank as an Intermediary"]
[null,null,null,"Sommario/riassunto","Many developing economies are heavily exposed to commodity markets, leaving them vulnerable to the vagaries of international commodity prices. This paper examines the use of commodity options-including plain vanilla, risk reversal, and barrier options-to hedge such risk. It then proposes the use of a new structured product-a sovereign Eurobond with an embedded option on a specific commodity price. By extracting commodity price risk out of the bond, such an instrument insulates the bond default risk from commodity price movements, allowing it to be marketed at a lower credit spread. The product is also designed to help developing countries establish a credit derivatives market, which would in turn enhance the marketability and liquidity of sovereign bonds."]