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Author Chami, Ralph
Title Framework for Financial Market Development
Imprint Washington : International Monetary Fund, 2009
©2009
book jacket
Descript 1 online resource (60 pages)
text txt rdacontent
computer c rdamedia
online resource cr rdacarrier
Series IMF Working Papers
IMF Working Papers
Note Intro -- 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
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 framework is used to analyze the sequencing of financial market development
Description based on publisher supplied metadata and other sources
Electronic reproduction. Ann Arbor, Michigan : ProQuest Ebook Central, 2020. Available via World Wide Web. Access may be limited to ProQuest Ebook Central affiliated libraries
Link Print version: Chami, Ralph Framework for Financial Market Development Washington : International Monetary Fund,c2009 9781451873030
Subject Banks and banking.;Capital market.;Financial instruments.;Foreign exchange market
Electronic books
Alt Author Sharma, Sunil
Fullenkamp, Connel
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