A framework for financial market development [[electronic resource] /] / prepared by Ralph Chami, Connel Fullenkamp and Sunil Sharma

• Autore: Chami Ralph
• Pubblicazione: Washington, D.C., : International Monetary Fund, IMF Institute, 2009
• Descrizione fisica: 1 online resource (60 p.)
• Soggetto topico: Banks and banking; Capital market; Financial instruments; Foreign exchange market
• Soggetto genere / forma: Electronic books.
• Altri autori: FullenkampConnel SharmaSunil
• Note generali: "July 2009."
• Nota di bibliografia: Includes bibliographical references.
• Nota di contenuto: Contents; 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
• Sommario/riassunto: The 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
• Titolo autorizzato: A framework for financial market development
• ISBN: 1-4623-1036-2; 1-4527-1677-3; 1-282-84369-9; 1-4518-7303-4; 9786612843693
• Formato: Materiale a stampa
• Livello bibliografico: Monografia
• Lingua di pubblicazione: Inglese
• Record Nr.: 9910464000703321
• Lo trovi qui: Univ. Federico II
• Serie: IMF working paper ; ; WP/09/156.