izpis_h1_title_alt

Global liquidity, risk premiums and growth opportunities
De Nicolò, Gianni (Author), Ivaschenko, Iryna V. (Author)

URLURL - Presentation file, Visit http://www.imf.org/external/pubs/ft/wp/2009/wp0952.pdf This link opens in a new window

Abstract
This paper constructs new indicators of liquidity for equity, bond and money markets in major advanced and emerging market countries, documents their evolution and comovements, and assesses the extent to which such measures are determinants of selected spreads and proxy measures of countries' growth opportunities. Three main results obtain. First, there is evidence of an historical increase in market liquidity since the early 1990s, in part as a result of advances in international financial integration, but markets have been increasingly exposed to global systemic liquidity shocks. Second, liquidity indicators appear to be important determinants of bond spreads in advanced economies and EMBI spreads in emerging markets. Third, improvements in market liquidity have significant real effects, as liquidity indicators have a significant positive impact on proxy measures of countries' growth opportunities.

Language:English
Keywords:finančni trg, trg kapitala, delnice, obveznice, denar, likvidnost, tveganje, ekonomska rast, financial market, capital market, shares, bonds, money, liquidity, risk, economic growth
Work type:Not categorized (r6)
Organization:EF - Faculty of Economics
Year:2009
Publisher:International Monetary Fund
Number of pages:33 str.
Place:[Washington (D.C.)]
UDC:336.76
COBISS.SI-ID:19275238 Link is opened in a new window
Views:457
Downloads:253
Metadata:XML RDF-CHPDL DC-XML DC-RDF
 
Average score:(0 votes)
Your score:Voting is allowed only to logged in users.
:
Share:AddThis
AddThis uses cookies that require your consent. Edit consent...

Similar documents

Similar works from RUL:
Similar works from other Slovenian collections:

Comments

Leave comment

You have to log in to leave a comment.

Comments (0)
0 - 0 / 0
 
There are no comments!

Back