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The domestic bond markets of the Asia and Pacific region have grown considerably since the Asian financial crisis of 1997, although they remain undeveloped relative to the region's weight in the world economy. This paper proposes that in order to encourage further development of these markets,...
Persistent link: https://www.econbiz.de/10008467199
We consider recent events in financial markets and the subsequent responses by monetary and fiscal authorities, which are impressive for their scale, innovation and flexibility in the face of sharply deteriorating circumstances. Internationally, the economic malaise has brought perverse...
Persistent link: https://www.econbiz.de/10013151126
While the domestic bond markets of Asia-Pacific have grown considerably since the Asian Financial Crisis of 1997, it is clear that they remain undeveloped relative to the region's weight in the world economy. This paper adds to the policy debate on this issue by proposing that in order to...
Persistent link: https://www.econbiz.de/10013156796
We examine the recent development of the foreign bond market - termed Kangaroo bonds - in Australia. Initially, a perspective is provided on the scale and scope of this market with particular attention paid to the characteristics of issuers. Overwhelmingly, this market is high credit quality and...
Persistent link: https://www.econbiz.de/10012715400
This study investigates the development of Korea’s foreign bond (Arirang) market for won-denominated foreign bonds. We provide an institutional perspective and discuss the problems, concerns and key issues related to the development of this market. We find no evidence that Arirang issuance...
Persistent link: https://www.econbiz.de/10005518458
Using a daily time series from 1983 to 2005 of currency prices in spot and forward USD/Yen markets and matching equivalent maturity short term US and Japanese interest rates, we investigate the sensitivity over the sample period of the difference between actual prices in forward markets to those...
Persistent link: https://www.econbiz.de/10005649949
Opportunistic inside-traders are known to trade specific financial contracts, such as options, to maximise the economic benefits arising from their private information. However, the recent conviction of inside-traders Kamay and Hill in the foreign exchange markets demonstrates more complex...
Persistent link: https://www.econbiz.de/10013003825
The Kamay and Hill insider trading conviction in Australia highlights many of the issues and problems involved in the prevention, detection and prosecution of insider trading. The case uniquely highlights how ethical behaviour is instilled at home, in school and in society, and the need for...
Persistent link: https://www.econbiz.de/10012971084
The relationship between energy and stock prices is investigated in the context of Asia, including China and Japan. Oil, gas and coal prices are considered both individually and in an energy portfolio. Consistent with evidence from analysis of other asset prices in international markets, during...
Persistent link: https://www.econbiz.de/10012957216
One reason that investors hold commodities is to receive diversification benefits. However, while an extensive set of existing studies demonstrate diversification benefits when investors hold international stocks or bonds, they are generally silent on the implications of holding commodities....
Persistent link: https://www.econbiz.de/10013027447