Use of derivatives for debt management and domestic debt market development

2008 ◽  
Vol 2008 (1) ◽  
pp. 223-235 ◽  
Author(s):  
Hans J. Blommestein ◽  
Ceyla Pazarbasioglu ◽  
Anderson Silva ◽  
Das Udaibir ◽  
Alison Harwood
Keyword(s):  
Debt Management ◽  
Market Development ◽  
Domestic Debt ◽  
Debt Market

scholarly journals Sensitivity of Capital Market Development to Public Debt in Nigeria

2016 ◽  
Vol 7 (3) ◽  
pp. 213
Author(s):  
Kalu Onwukwe Emenike ◽  
Ugwueze Christian Amu ◽  
Ezeji Emmanuel Chigbu
Keyword(s):  
Capital Market ◽  
Public Debt ◽  
Descriptive Analysis ◽  
Unit Root Test ◽  
Debt Management ◽  
Market Development ◽  
Significance Level ◽  
Market Capitalization ◽  
Domestic Debt ◽  
Integration Techniques

This article investigated the sensitivity of capital market development to public debt in Nigeria using descriptive statistic, regression analysis, and the Engle-Granger co integration techniques for the period ranging from 1981 to 2014. The estimates from the descriptive analysis showed that both the market capitalization and public debt series were not normally distributed at 5% significance level. The ADF unit root test showed that the market capitalization and public debt series were integrated of order one (i.e., I (1)). The results from the regression model provide evidence to show that capital market development is not sensitive to domestic debt at any conventional level, but it is sensitive to external debt at 10% significance level. The estimates of the Engle-Granger co integration tests show that capital market development is not co integrated with public debt. It is recommended that capital market and debt management authorities should formulate policies will enhance linkage between the markets.

The Risks of Russia's Debt Policy against the Background of the Global Debt Crisis

2012 ◽  
pp. 80-97
Author(s):  
B. Kheifets
Keyword(s):  
Debt Crisis ◽  
Strong Dependence ◽  
Domestic Debt ◽  
Debt Market ◽  
State Paternalism ◽  
High Level ◽  
External Borrowing ◽  
Pension Liabilities ◽  
Policy Problems ◽  
Debt Policy

The paper discusses the debt component of the current global crisis, which becomes stronger in 2011—2012. The Russian economy is analyzed in terms of its debt stability: a thorough analysis shows that it is not quite adequate. This paper presents the main problems that could be exacerbated by the global debt crisis (strong dependence of the budget on the volatility of oil prices, deterioration of conditions for external borrowing and overheat of the domestic debt market, too high public pension liabilities, substantial corporate debt and high level of state paternalism in regard to big business). Some measures to address Russian debt policy problems are proposed.

scholarly journals Analysis of structure of a public debt of the countries of Latin America

2013 ◽  
pp. 228-231
Author(s):  
F. A. Ahmed Abu Bakr
Keyword(s):  
Latin America ◽  
Public Debt ◽  
Global Financial Crisis ◽  
Present Report ◽  
Debt Management ◽  
Capital Inflows ◽  
Management Options ◽  
Emerging Nations ◽  
Debt Market ◽  
International Investors

The article addresses the problem of public debt restructuring in seven largest countries of Latin America. Over the last decade there has been a steady decline in nations’ external debt liabilities. This process was originated by two main contributors: worsening borrowing conditions on the world credit market, encouraging governments to deleverage their external credit position, and a solid financial standing underpinned by a positive external environment. It is LAC-7 countries’ strong fiscal position that propelled the development of national debt market and attracted international investors. But as the present report reveals international capital inflows into public debt market is highly volatile, concentrated in the short term segment and insufficient to finance constantly rising needs of the emerging nations. Finally, the author considers debt management options for local government policies weighing the implications of the ongoing global financial crisis and the scarcity of external credit resources

Central European local investors will hold on to bonds

2017 ◽  
Keyword(s):  
Emerging Market ◽  
Bond Markets ◽  
Content Type ◽  
Developed Economies ◽  
Local Currency ◽  
Domestic Debt ◽  
The Us ◽  
Debt Market ◽  
Us Presidential Election ◽  
To Come

Significance The lira’s collapse is fuelling outflows from Turkey’s local currency government debt market, as foreign investors reduce their purchases of emerging market (EM) domestic debt amid a sharp sell-off in bond markets following Donald Trump’s upset victory in the US presidential election. Both Hungary and Poland -- hitherto two of the most resilient EMs -- suffered net outflows last year and are likely to come under further pressure as the ECB starts to scale back, or ‘taper’, its programme of quantitative easing (QE) in April. Impacts The dollar’s rise against a basket of other currencies since the US election will put severe strain on EM assets. The surging price of Brent crude is improving the inflation and growth outlook. Higher international oil prices will also reduce the scope for further easing of monetary policy in developing and developed economies.

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