Fixed-Income Markets in the United States, Europe, and Japan-Some Lessons for Emerging Markets /

This paper identifies factors that contributed to the development and effectiveness of debt securities markets in the major advanced economies. Government securities markets have benefited from their international orientation-debt management is most effective when it is independent of monetary and e...

תיאור מלא

מידע ביבליוגרפי
מחבר ראשי: Schinasi, Garry
מחברים אחרים: Smith, T.
פורמט: כתב-עת
שפה:English
יצא לאור: Washington, D.C. : International Monetary Fund, 1998.
סדרה:IMF Working Papers; Working Paper ; No. 1998/173
גישה מקוונת:Full text available on IMF
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100 1 |a Schinasi, Garry. 
245 1 0 |a Fixed-Income Markets in the United States, Europe, and Japan-Some Lessons for Emerging Markets /  |c Garry Schinasi, T. Smith. 
264 1 |a Washington, D.C. :  |b International Monetary Fund,  |c 1998. 
300 |a 1 online resource (43 pages) 
490 1 |a IMF Working Papers 
500 |a <strong>Off-Campus Access:</strong> No User ID or Password Required 
500 |a <strong>On-Campus Access:</strong> No User ID or Password Required 
506 |a Electronic access restricted to authorized BRAC University faculty, staff and students 
520 3 |a This paper identifies factors that contributed to the development and effectiveness of debt securities markets in the major advanced economies. Government securities markets have benefited from their international orientation-debt management is most effective when it is independent of monetary and exchange rate policies; and financial infrastructures should be patterned on the standards of liquidity, transparency, issuing and trading efficiency, and tax treatment. The same degree of consensus does not exist for corporate debt securities markets. The paper identifies six regulatory and market-created factors that help explain why the U.S. corporate debt market has flourished, while corporate debt securities markets elsewhere have only recently begun to develop. 
538 |a Mode of access: Internet 
700 1 |a Smith, T. 
830 0 |a IMF Working Papers; Working Paper ;  |v No. 1998/173 
856 4 0 |z Full text available on IMF  |u http://elibrary.imf.org/view/journals/001/1998/173/001.1998.issue-173-en.xml  |z IMF e-Library