Download or read book The Emerging Markets Monitor written by and published by . This book was released on 2009 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Drivers of Emerging Market Bond Flows and Prices written by Mr. Evan Papageorgiou and published by International Monetary Fund. This book was released on 2021-12-16 with total page 14 pages. Available in PDF, EPUB and Kindle. Book excerpt: An interesting disconnect has taken shape between local currency- and hard currency-denominated bonds in emerging markets with respect to their portfolio flows and prices since the start of the recovery from the COVID-19 pandemic. Emerging market assets have recovered sharply from the COVID-19 sell-off in 2020, but the post-pandemic recovery in 2021 has been highly uneven. This note seeks to answer why. Yields of local currency-denominated bonds have risen faster and are approaching their pandemic highs, while hard currency bond yields are still near their post-pandemic lows. Portfolio flows to local currency debt have similarly lagged flows to hard currency bonds. This disconnect is closely linked to the external environment and fiscal and inflationary pressures. Its evolution remains a key consideration for policymakers and investors, since local markets are the main source of funding for emerging markets. This note draws from the methodology developed in earlier Global Financial Stability Reports on fundamentals-based asset valuation models for funding costs and forecasting models for capital flows (using the at-risk framework). The results are consistent across models, indicating that local currency assets are significantly more sensitive to domestic fundamentals while hard currency assets are dependent on the external risk sentiment to a greater extent. This suggests that the post-pandemic, stressed domestic fundamentals have weighed on local currency bonds, partially offsetting the boost from supportive global risk sentiment. The analysis also highlights the risks emerging markets face from an asynchronous recovery and weak domestic fundamentals.

Download or read book Winning in Emerging Markets written by Tarun Khanna and published by Harvard Business Press. This book was released on 2010-04-28 with total page 261 pages. Available in PDF, EPUB and Kindle. Book excerpt: The best way to select emerging markets to exploit is to evaluate their size or growth potential, right? Not according to Krishna Palepu and Tarun Khanna. In Winning in Emerging Markets, these leading scholars on the subject present a decidedly different framework for making this crucial choice. The authors argue that the primary exploitable characteristic of emerging markets is the lack of institutions (credit-card systems, intellectual-property adjudication, data research firms) that facilitate efficient business operations. While such "institutional voids" present challenges, they also provide major opportunities-for multinationals and local contenders. Palepu and Khanna provide a playbook for assessing emerging markets' potential and for crafting strategies for succeeding in those markets. They explain how to: · Spot institutional voids in developing economies, including in product, labor, and capital markets, as well as social and political systems · Identify opportunities to fill those voids; for example, by building or improving market institutions yourself · Exploit those opportunities through a rigorous five-phase process, including studying the market over time and acquiring new capabilities Packed with vivid examples and practical toolkits, Winning in Emerging Markets is a crucial resource for any company seeking to define and execute business strategy in developing economies.

Download or read book Emerging Markets Analyst written by and published by . This book was released on 1994 with total page 334 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Emerging Market Business Groups Foreign Investors and Corporate Governance written by Tarun Khanna and published by . This book was released on 2010 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt: We examine the interaction between three kinds of concentrated owners commonly found in an emerging market: family-run business groups, domestic financial institutions, and foreign financial institutions. Using data from India in the early 1990s, we find evidence that domestic international investors are poor monitors, and that foreign institutional investors are good monitors. Whereas affiliates of those groups that attract foreign institutional investment are no more difficult to monitor than are unaffiliated firms, we find that group affiliation reduces the likelihood of foreign institutional investment. More transparent groups (where greater transparency is proxied for by a lower incidence of intra-group financial transactions) are more likely to attract such investment. We conclude that groups are difficult to monitor, and that foreign institutional investors serve a valuable monitoring function as emerging markets integrate with the global economy.

Download or read book Money Power and Financial Capital in Emerging Markets written by Ilias Alami and published by Routledge. This book was released on 2019-12-09 with total page 236 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides a comprehensive investigation of the messy and crisis-ridden relationship between the operations of capitalist finance, global capital flows, and state power in emerging markets. The politics, drivers of emergence, and diversity of these myriad forms of state power are explored in light of the positionality of emerging markets within the network of space and power relations that characterises contemporary global finance. The book develops a multi-disciplinary perspective and combines insights from Marxist political economy, post-Keynesian economics, economic geography, and postcolonial and feminist International Political Economy. Alami comprehensively reviews the theories, histories, and geographies of cross-border finance management, and develops a conceptual framework which allows unpacking the complex entanglement of constraint and opportunities, of growing integration and tight discipline, that cross-border finance represents for emerging markets. Extensive fieldwork research provides an in-depth comparative critical interrogation of the policies and regulations deployed in Brazil and South Africa. This volume will be especially useful to those researching and working in the areas of international political economy, contemporary geographies of money and finance, and critical development studies. It should also prove of interest to policy makers, practitioners, and activists concerned with the relation between finance and development in emerging markets and beyond.

Download or read book Push Factors and Capital Flows to Emerging Markets written by Mr.Eugenio Cerutti and published by International Monetary Fund. This book was released on 2015-06-22 with total page 43 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper analyzes the behavior of gross capital inflows across 34 emerging markets (EMs). We first confirm that aggregate inflows to EMs co-move considerably. We then report three findings: (i) the aggregate co-movement conceals significant heterogeneity across asset types as only bank-related and portfolio bond and equity inflows do co-move; (ii) while global push factors in advanced economies mostly explain the common dynamics, their relative importance varies by type of flow; and (iii) the sensitivity to common dynamics varies significantly across borrower countries, with market structure characteristics (especially the composition of the foreign investor base and the level of liquidity) rather than borrower country’s institutional fundamentals strongly affecting sensitivities. Countries relying more on international funds and global banks are found to be more sensitive to push factors. Our findings suggest that EMs need to closely monitor their lenders and investors to assess their inflow exposures to global push factors.

Download or read book Tracking Global Demand for Emerging Market Sovereign Debt written by Mr.Serkan Arslanalp and published by International Monetary Fund. This book was released on 2014-03-05 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper proposes an approach to track US$1 trillion of emerging market government debt held by foreign investors in local and hard currency, based on a similar approach that was used for advanced economies (Arslanalp and Tsuda, 2012). The estimates are constructed on a quarterly basis from 2004 to mid-2013 and are available along with the paper in an online dataset. We estimate that about half a trillion dollars of foreign flows went into emerging market government debt during 2010–12, mostly coming from foreign asset managers. Foreign central bank holdings have risen as well, but remain concentrated in a few countries: Brazil, China, Indonesia, Poland, Malaysia, Mexico, and South Africa. We also find that foreign investor flows to emerging markets were less differentiated during 2010–12 against the background of near-zero interest rates in advanced economies. The paper extends some of the indicators proposed in our earlier paper to show how the investor base data can be used to assess countries’ sensitivity to external funding shocks and to track foreign investors’ exposures to different markets within a global benchmark portfolio.

Download or read book Emerging Market Economies and Financial Globalization written by Leonardo E. Stanley and published by Anthem Press. This book was released on 2018-03-15 with total page 260 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the past, foreign shocks arrived to national economies mainly through trade channels, and transmissions of such shocks took time to come into effect. However, after capital globalization, shocks spread to markets almost immediately. Despite the increasing macroeconomic dangers that the situation generated at emerging markets in the South, nobody at the North was ready to acknowledge the pro-cyclicality of the financial system and the inner weakness of “decontrolled” financial innovations because they were enjoying from the “great moderation.” Monetary policy was primarily centered on price stability objectives, without considering the mounting credit and asset price booms being generated by market liquidity and the problems generated by this glut. Mainstream economists, in turn, were not majorly attracted in integrating financial factors in their models. External pressures on emerging market economies (EMEs) were not eliminated after 2008, but even increased as international capital flows augmented in relevance thereafter. Initially economic authorities accurately responded to the challenge, but unconventional monetary policies in the US began to create important spillovers in EMEs. Furthermore, in contrast to a previous surge in liquidity, funds were now transmitted to EMEs throughout the bond market. The perspective of an increase in US interest rates by the FED is generating a reversal of expectations and a sudden flight to quality. Emerging countries’ currencies began to experience higher volatility levels, and depreciation movements against a newly strong US dollar are also increasingly observed. Consequently, there are increasing doubts that the “unexpected” favorable outcome observed in most EMEs at the aftermath of the Global Financial Crisis (GFC) would remain.

Download or read book Doing Business in Emerging Markets written by Sudhir Rana and published by Taylor & Francis. This book was released on 2021-09-27 with total page 250 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume presents a comprehensive analysis of the business, financial and economic aspects of emerging markets. Using case studies from India, Turkey, Bangladesh and Africa, it discusses themes such as megaprojects, infrastructure and sustainability; cross-border mergers and acquisitions; a new paradigm for educational markets; exports competitiveness; work engagement in service sector; mobile banking and crowdfunding; and venture capital flow into emerging economies, to focus on the trade, foreign investment, financial, and social progress of these economies. The chapters review the current state, learnings, changing scenarios, business practices, and financial and economic perspectives across emerging markets while examining progression, challenges and the way forward. With its rigorous approach and topical content, this book will be useful to scholars and researchers of management studies, business management, financial management, business economics, international business, finance and marketing, development studies and economics. It will also interest policymakers and practitioners in the field.

Download or read book The Safe Investor written by Timothy F. McCarthy and published by Macmillan + ORM. This book was released on 2014-02-04 with total page 321 pages. Available in PDF, EPUB and Kindle. Book excerpt: Investing information is everywhere; there are blogs, newspapers, magazines, and cable TV shows all dedicated to helping individuals invest in smarter and more successful ways. Yet despite all the efforts to educate the public on investing, most people still feel uncomfortable with how they should actually invest their money. Recent predictions about slowing economic growth, historically low interest rates, and volatile markets have investors scratching their heads about what to do with their money. And more than ever, people are scared about whether they can grow their money enough to last through their lifetime. Expert investor Timothy McCarthy has spent the last 30 years in the US and overseas providing investment solutions to individuals and their advisors. He believes that understanding how to create a truly globally diverse portfolio while applying the magic of time will help all investors navigate risky markets. McCarthy also explores the fundamentals of picking and evaluating financial advisors for those who want to understand the principles of investing but not actually do the work themselves. McCarthy helps guide the reader along a straightforward path to investment success by telling engaging and actual stories to illustrate each of his seven lessons of successful investing. The Safe Investor will help even those readers with little interest or aptitude for finance to be comfortable in knowing what to do to manage their life investment plan and how to manage their own advisors.

Download or read book Do Multi Sector Bond Funds Pose Risks to Emerging Markets written by Fabio Cortes and published by . This book was released on 2020-08-07 with total page 57 pages. Available in PDF, EPUB and Kindle. Book excerpt: Emerging economies in the post-crisis period increasingly saw portfolio debt inflows from a type of large international investment fund: Multi-Sector Bond Funds (MSBFs). These investors have lacked adequate representation in the literature. This paper constructs a new detailed database from micro-level MSBF emerging market (EM) holdings from 2009:Q4-2018:Q2. Exploiting this data, the paper assesses the risks they pose to the financial stability of specific emerging bond markets. The data shows that MSBFs are highly concentrated-both in their positions and their decision-making. The empirical results further suggest that MSBFs exhibit opportunistic behavior (and more so than other investment funds). In periods of high risk aversion, large MSBF portfolio reallocations out of EMs can be associated with underperformance of the same markets, signaling the importance of monitoring their footprint and better understanding their asset allocation decisions.

Download or read book Global Finance in Emerging Market Economies written by Todd Knoop and published by Routledge. This book was released on 2013-02-11 with total page 330 pages. Available in PDF, EPUB and Kindle. Book excerpt: Emerging market economies have accounted for three quarters of world economic growth and more than half of world output over the last decade. But the energy and ideas inherent in emerging economies cannot generate growth by themselves without resources to support them — and first among these resources is money which is needed to purchase the capital and knowhow that turn ideas and initiative into income. How do emerging economies rich in resources other than money get money? This question encapsulates what emerging market finance is all about, and why finance is absolutely crucial to economic development. In emerging countries, most of the population does not have access to bank accounts or financial markets to save or borrow. The result is that many firms cannot get access to financial resources to grow, while households cannot borrow and save in ways that could reduce the riskiness and poverty of their lives. Even those that do have access to formal finance find that credit is unreliable and expensive. These financial failures limit growth and also increase the frequency of costly financial crises. These issues, and many more like them, mean that finance in emerging economies is different and often more complex than the view presented in most textbooks, where finance is only considered from the perspective of wealthy, developed economies. This book addresses this failure by focusing on the important characteristics of financial systems in emerging market economies and their differences from those in developed countries. This book surveys both theoretical and empirical research on finance in emerging economies, as well as reviewing numerous case studies. The final chapters describe and compare financial systems within the four different regions that encompass most emerging economies: Sub-Saharan Africa, the Middle East, Asia, and South America.

Download or read book Financial Market Regulation and Reforms in Emerging Markets written by Masahiro Kawai and published by Brookings Institution Press. This book was released on 2011 with total page 441 pages. Available in PDF, EPUB and Kindle. Book excerpt: "In the wake of the global financial crisis that began in 2008, offers a systematic overview of recent developments in regulatory frameworks in advanced and emerging-market countries, outlining challenges to improving regulation, markets, and access in developing economies"--Provided by publisher.

Download or read book International Strategy of Emerging Market Firms written by Andrei Panibratov and published by Taylor & Francis. This book was released on 2017-03-16 with total page 435 pages. Available in PDF, EPUB and Kindle. Book excerpt: Emerging economies are expected to be in the driver's seat of the global economy in the medium and long term. Large multinational corporations will account for much of this activity. In this textbook, Andrei Panibratov explains how emerging market firms accumulate and exploit market knowledge to develop competitive advantages whilst operating globally. Chapters dedicated to the key emerging economies - Brazil, Russia, India and China (BRIC) - are enhanced by detailed case studies of large firms’ activities. The book is divided into four parts, focusing on the following: An outline of the relevant terminology and the context of the international strategy of emerging market firms, providing an introductory foundation for the whole book. A guide to the evolution of perspectives regarding international strategy, designed to illustrate the changes and trends in the recent academic research on internationalization. A country-by-country illustration of the internationalization of BRIC economies and firms, providing an overall picture of each country’s global integration, outward investments, and strategies. The concepts and practices behind the strategies employed by different firms. Written by an established international business scholar, this book is essential reading for students of international strategy who wish to understand the importance of the emerging economies.

Download or read book Emerging Markets written by Greg N. Gregoriou and published by CRC Press. This book was released on 2009-06-26 with total page 870 pages. Available in PDF, EPUB and Kindle. Book excerpt: Although emerging market economies consist of 50% of the global population, they are relatively unknown. Filling this knowledge gap, Emerging Markets: Performance, Analysis and Innovation compiles the latest research by noteworthy academics and money managers from around the world. With a focus on both traditional emerging markets and new areas, su

Download or read book Global Debt Database Methodology and Sources written by Samba Mbaye and published by International Monetary Fund. This book was released on 2018-05-14 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper describes the compilation of the Global Debt Database (GDD), a cutting-edge dataset covering private and public debt for virtually the entire world (190 countries) dating back to the 1950s. The GDD is the result of a multiyear investigative process that started with the October 2016 Fiscal Monitor, which pioneered the expansion of private debt series to a global sample. It differs from existing datasets in three major ways. First, it takes a fundamentally new approach to compiling historical data. Where most debt datasets either provide long series with a narrow and changing definition of debt or comprehensive debt concepts over a short period, the GDD adopts a multidimensional approach by offering multiple debt series with different coverages, thus ensuring consistency across time. Second, it more than doubles the cross-sectional dimension of existing private debt datasets. Finally, the integrity of the data has been checked through bilateral consultations with officials and IMF country desks of all countries in the sample, setting a higher data quality standard.