Causes of asset shortages in emerging markets
نویسندگان
چکیده
منابع مشابه
Asset Pricing in Emerging Markets
Emerging markets provide a formidable challenge to current asset pricing theory. The reason that emerging market do not obey standard asset pricing paradigms can be traced to the lack of complete market integration of many of these markets. Importantly, to understand both the cross-section of expected returns as well as the evolution of expected returns through time in these markets, it is nece...
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Over the course of U.S. history there have been a number of occasions in which aggregate nominal spending has declined, the most recent of which occurred during the recession that began in December 2007. Coincident with these observed declines in nominal spending is a corresponding decline in the quantity of transaction assets and real output, where the former are defined as financial assets th...
متن کاملOn the Macroeconomics of Asset Shortages
The world has a shortage of financial assets. Asset supply is having a hard time keeping up with the global demand for store of value and collateral by households, corporations, governments, insurance companies, and financial intermediaries more broadly. These shortages have been a perennial problem in emerging markets, where many of their economic perils and idiosyncrasies stem from this featu...
متن کاملOn the Macroeconomics of Asset Shortages
These shortages have been a perennial problem in emerging markets, where many of their economic perils and idiosyncrasies stem from this feature. But we are now seeing a shortage on a global scale. It probably began with the meltdown of a substantial share of Japanese assets in the early 1990s, it was exacerbated by European stagnation and the collective emerging market crises of the late 1990s...
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Financial contagion from liquidity shocks has being recently ascribed as a prominent driver of systemic risk in interbank lending markets. Building on standard compartment models used in epidemics, here we develop an EDB (Exposed-Distressed-Bankrupted) model for the dynamics of liquidity shocks reverberation between banks, and validate it on electronic market for interbank deposits data. We sho...
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ژورنال
عنوان ژورنال: Review of Development Finance
سال: 2013
ISSN: 1879-9337
DOI: 10.1016/j.rdf.2012.12.002