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|c 5.00 USD
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|z 9781451868685
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|a 1018-5941
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|a BD-DhAAL
|c BD-DhAAL
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|a Lu, Yinqiu.
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|a Financial Instruments to Hedge Commodity Price Risk for Developing Countries /
|c Yinqiu Lu, Salih Neftci.
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|a Washington, D.C. :
|b International Monetary Fund,
|c 2008.
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| 300 |
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|a 1 online resource (20 pages)
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|a IMF Working Papers
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|a <strong>Off-Campus Access:</strong> No User ID or Password Required
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|a <strong>On-Campus Access:</strong> No User ID or Password Required
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|a Electronic access restricted to authorized BRAC University faculty, staff and students
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|a 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.
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| 538 |
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|a Mode of access: Internet
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|a Neftci, Salih.
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|a IMF Working Papers; Working Paper ;
|v No. 2008/006
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| 856 |
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|z Full text available on IMF
|u http://elibrary.imf.org/view/journals/001/2008/006/001.2008.issue-006-en.xml
|z IMF e-Library
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