Evaluation of Blockchain in Capital Market Use-Cases

2018 ◽  
Vol 10 (1) ◽  
pp. 54-76
Author(s):  
Sinsu Anna Mathew ◽  
Abdul Quadir Md
Keyword(s):  
Capital Markets ◽  
Capital Market ◽  
Use Cases ◽  
Third Party ◽  
Global Capital ◽  
Distributed Ledger ◽  
The World ◽  
High Integrity ◽  
Middle Man ◽  
Financial Transactions

This article describes the “Blockchain” which is an upcoming technology in the current leading world and which serves as a capital market use-cases for many of the global Fintech industries across the world, is a distributed ledger of economic transactions which not only used for recording financial transactions but mostly everything of value in this world. In the current world, mostly all the transactions are done through online which mainly includes the bank as a “middle man,” which could be untrustworthy at times. Blockchain comes into the picture which eliminates the need of a middle man or third party between the users who are involved in the transactions. Represents a financial ledger entry of data structure which consists of record of transactions which is digitally signed and cannot be tampered as authenticity is ensured in which the ledger is considered to be of high integrity. One of the leading and highly valued platform of blockchain is “Hyperledger Fabric” which is meant for securing transactions and serves a powerful container technology for smart contract development in the global capital firms. The potential of Blockchain and DLT in capital markets in this upcoming world could remove many of the inefficiencies and costs inherent in the global capital markets across the world and could be considered as a viable technology which enable to settlement.

Evaluation of Blockchain in Capital Market Use-Cases

2018 ◽  
pp. 168-192 ◽  
Author(s):  
Sinsu Anna Mathew ◽  
Abdul Quadir Md
Keyword(s):  
Data Structure ◽  
Capital Markets ◽  
Capital Market ◽  
Use Cases ◽  
Third Party ◽  
Global Capital ◽  
The World ◽  
High Integrity ◽  
Middle Man ◽  
Financial Transactions

This article describes the “Blockchain” which is an upcoming technology in the current leading world and which serves as a capital market use-cases for many of the global Fintech industries across the world, is a distributed ledger of economic transactions which not only used for recording financial transactions but mostly everything of value in this world. In the current world, mostly all the transactions are done through online which mainly includes the bank as a “middle man,” which could be untrustworthy at times. Blockchain comes into the picture which eliminates the need of a middle man or third party between the users who are involved in the transactions. Represents a financial ledger entry of data structure which consists of record of transactions which is digitally signed and cannot be tampered as authenticity is ensured in which the ledger is considered to be of high integrity. One of the leading and highly valued platform of blockchain is “Hyperledger Fabric” which is meant for securing transactions and serves a powerful container technology for smart contract development in the global capital firms. The potential of Blockchain and DLT in capital markets in this upcoming world could remove many of the inefficiencies and costs inherent in the global capital markets across the world and could be considered as a viable technology which enable to settlement.

Demokratie und wirtschaftsordnung

1996 ◽  
Vol 5 (2) ◽  
Author(s):  
Josef Thesig
Keyword(s):  
Capital Market ◽  
World Economy ◽  
Economic Order ◽  
Global Policy ◽  
Global Capital ◽  
Rapid Changes ◽  
The World ◽  
Market Democracy ◽  
Main Factor

The article analyses two concepts: democracy and economic order. Since 1989 the world was a witness of rapid changes as never before. In the world economy we can see a globalization, nations and regions are determine by global policy, world economy and global capital market. Democracy needs a substantial economics base. This base is main factor of its stability.

scholarly journals TINGKAT INTEGRASI PASAR MODAL INDONESIA DENGAN PASAR MODAL GLOBAL

2018 ◽  
Vol 4 (2) ◽  
Author(s):  
Dedy Saputra
Keyword(s):  
Correlation Coefficient ◽  
Capital Markets ◽  
Capital Market ◽  
Composite Index ◽  
Stock Index ◽  
Analysis Tool ◽  
Global Capital ◽  
Market Index ◽  
Dow Jones Industrial Average ◽  
German Stock

This study aims to determine the level of capital market interation Indonesia (Jakarta Composite Index) with American capital markets (Dow Jones Industrial Average), England (FTSE 100 Index), German (Deutsche Borse AG German Stock Index), Hongkong (Hang Seng) and Japan (Nikkei 225). The result of this study expected to become an information for investment actors in deciding to invest at the stockmarket. These variables include the Indonesian capital market as the dependent variable and the global capital markets as an independent variable. Analysis tool is the correlation coefficient and t test. It is used to determine the significance of the correlation coefficient between independent variables and the dependent variable. Based on the calculation of the correlation coefficient is exemplified that the market index Indonesian capital market and the five major global capital markets has been integrated on various classification levels of relationships or different integration. The level of integration between Indonesian capital market and capital markets of America and Japan are very strong level of integration, the German stock market has stronglevel integration, and England and Hong Kong capital market has low level integration.

scholarly journals GLOBALISASI PASAR MODAL DUNIA DAN PENGARUHNYA TERHADAP PASAR MODAL INDONESIA

2017 ◽  
Vol 1 (1) ◽  
pp. 10
Author(s):  
R Adisetiawan
Keyword(s):  
Stock Market ◽  
Capital Markets ◽  
Capital Market ◽  
Stock Exchange ◽  
Global Market ◽  
Stock Market Index ◽  
Causality Test ◽  
Global Capital ◽  
Market Index ◽  
Cointegration Tests

This study aims to prove causality, cointegration and the influence of global capital markets with a market capital of Indonesia for the period 2001-2016 with a Granger causality test statistics, cointegration tests and Multiple Regression testing. These results prove that the 99% confidence interval occurred a long term relationship (cointegration) and the significant influence of global market indices with the Indonesia capital market index (CSPI) in Indonesia Stock Exchange (IDX) for the period 2001 to 2016, it indicates that Indonesia's economy has been integrated with global capital markets with varying levels of integration, but is causally there is only one country that has a causal relationship with the Indonesian stock market index (CSPI), the Taiwan stock market index (TWSE).Keywords: Capital Market Integration

scholarly journals CONTAGION EFFECT DAN INTEGRASI PASAR MODAL DI KAWASAN ASIA, EROPA DAN AMERIKA

2018 ◽  
Vol 14 (1) ◽  
pp. 1-9
Author(s):  
Robiyanto ◽  
Aldhi Fajar Hartanto
Keyword(s):  
Capital Markets ◽  
Capital Market ◽  
Market Integration ◽  
Composite Index ◽  
The United States ◽  
Contagion Effect ◽  
Kuala Lumpur ◽  
Index Set ◽  
Capital Market Integration ◽  
The World

Capital market integration is a very interesting topic to study because it is constantly evolving along with the development of time and conditions that occur in the capital markets in the world. This study examines the integration of capital markets and the contagion effect of capital markets in Asia, Europe and America. This study uses monthly closing data of Jakarta Composite Index (JCI) for Indonesia, (KLCI) for Malaysia, PSE Composite Index (PSE) for Philippines, Straight Times Index (STI) for Singapore, SET Index (SET) for Thailand, NIKKEI 225 for Japan, FTSE 100 for UK, DAX 30 for Germany, CAC 40 for France, IBEX 35 for Spain, Dow Jones for USA during period of January 2012 until December 2016. The result of this research is there is no comovement between capital markets of Indonesia, Malaysia, Philippines, Singapore, Thailand, Japan, UK, Germany, France, Italy, Spain and the United States.   Integrasi pasar modal merupakan topik yang masih sangat menarik untuk dikaji karena senantiasa berkembang seiring dengan perkembangan waktu dan kondisi yang terjadi pada pasar modal-pasar modal yang ada di dunia. Penelitian ini mengkaji integrasi pasar modal dan contagion effect dari pasar modal di Asia, Eropa dan Amerika. Penelitian ini menggunakan data penutupan bulanan Indeks Harga Saham Gabungan (IHSG) untuk Indonesia, Kuala Lumpur Composite Index (KLCI) untuk Malaysia, PSE Composite Index(PSE) untuk Filipina, Straight Times Index (STI) untuk Singapura, SET Index (SET) untuk Thailand, NIKKEI 225 untuk Jepang, FTSE 100 untuk Inggris, DAX 30 untuk Jerman, CAC 40 untuk Prancis, IBEX 35 untuk Spanyol, Dow Jones untuk Amerika Serikatselama periode bulan Januari 2012 sampai dengan Desember 2016. Hasil penelitian ini adalah tidak terdapat comovement antara pasar modal Indonesia, Malaysia, Filipina, Singapura, Thailand, Jepang, UK, Jerman, Perancis, Italia, Spanyol, dan Amerika Serikat.

INTEGRATION OF GLOBAL CAPITAL MARKETS: AN EMPIRICAL EXPLORATION

2004 ◽  
Vol 07 (04) ◽  
pp. 385-405 ◽  
Author(s):  
MALAY BHATTACHARYYA ◽  
ASHOK BANERJEE
Keyword(s):  
Capital Markets ◽  
Capital Market ◽  
Stock Markets ◽  
Cointegration Analysis ◽  
The Other ◽  
Causal Relationships ◽  
Global Capital ◽  
Fund Managers ◽  
Emerging Stock Markets ◽  
The Usa

It is generally argued that with lifting of barriers to the flow of capital across countries by respective governments, the capital markets have come closer and are now more integrated. This paper examines the existence (or absence) of integration among stock indices of 11 developed and emerging stock markets from three continents: Asia, Europe and America. Using synchronous weekly closing index values from November, 1990 through December, 2001, the study found that all the 11 stock markets are cointegrated. The cointegration analysis was carried out using an error correction vector autoregression (VECM) model. The study goes further to test whether there are any causal relationships among the indices and has used a hitherto empirically untested methodology to explore the causal relationships. Results show that capital market indices from European countries and the USA are not Granger caused by any index. On the other hand, causality effects are much pronounced in Asian capital markets. The capital market in Hong Kong "leads" the other markets in Asia. This learning would help fund managers in managing their exposure in Asian capital markets. The regulators may use the causality results to identify the markets driving movements in a country's capital market and take corrective measures.

Global Capital Markets in the Long Run: A Review of Maurice Obstfeld and Alan Taylor's Global Capital Markets

2007 ◽  
Vol 45 (2) ◽  
pp. 400-409 ◽  
Author(s):  
Jeffrey G Williamson
Keyword(s):  
World War Ii ◽  
Capital Markets ◽  
Capital Market ◽  
Financial Capital ◽  
Real Economy ◽  
World War ◽  
Poor Countries ◽  
Global Capital ◽  
Long Run ◽  
Market Regimes

Written by Maurice Obstfeld and Alan Taylor, Global Capital Markets: Integration, Crisis, and Growth was a much-needed book that will be cited extensively by those with interests in the long run evolution of the world financial capital market. The book does not simply assess changes in the efficiency of global capital markets over the past 150 years, but rather adds significantly to debates about instability and crisis, asymmetry between rich and poor countries in the costs of going open, the Lucas Paradox, the connections between foreign exchange and financial capital market regimes, and much more. The book makes far better use of the comparative evidence generated by the three epochs since 1850—the first global century before 1914, the second global century after 1950, and the autarchy in between—than do competitors that focus solely on one regime, whether the gold standard, post–World War II Breton Woods, or the float since. In addition, while the financial literature rarely assesses in any useful empirical way the connection between financial markets and the real economy, this book makes that connection absolutely clear. Global Capital Markets is a stimulating book with a very wide and deep reach.

scholarly journals The New Role for the World Bank

2016 ◽  
Vol 30 (1) ◽  
pp. 53-76 ◽  
Author(s):  
Michael A. Clemens ◽  
Michael Kremer
Keyword(s):  
World Bank ◽  
Capital Markets ◽  
Private Capital ◽  
International Capital ◽  
International Capital Markets ◽  
Global Capital ◽  
The World Bank ◽  
The World ◽  
Private Capital Flows

The World Bank was founded to address what we would today call imperfections in international capital markets. Its founders thought that countries would borrow from the Bank temporarily until they grew enough to borrow commercially. Some critiques and analyses of the Bank are based on the assumption that this continues to be its role. For example, some argue that the growth of private capital flows to the developing world has rendered the Bank irrelevant. However, we will argue that modern analyses should proceed from the premise that the World Bank’s central goal is and should be to reduce extreme poverty, and that addressing failures in global capital markets is now of subsidiary importance. In this paper, we discuss what the Bank does: how it spends money, how it influences policy, and how it presents its mission. We argue that the role of the Bank is now best understood as facilitating international agreements to reduce poverty, and we examine implications of this perspective.

scholarly journals Global capital markets: An updated profile

2007 ◽  
Vol 54 (2) ◽  
pp. 197-217
Author(s):  
Miroslava Filipovic
Keyword(s):  
Supply Chain ◽  
Capital Markets ◽  
Capital Market ◽  
Capital Flows ◽  
Quantitative Review ◽  
Global Capital

More than two decades after the beginning of the financial revolution globalization of capital flows still attracts considerable attention, from both practitioners and academics. The aim of this paper is to contribute to understanding of some aspects of the global capital scene, as well as to emphasize certain developments which might illustrate its changing profile. Several fundamental perspectives profile the global capital market. A quantitative review provides a sense of sheer volumes, trends, origins and destinations of capital flows; an assessment of the global capital market?s degree of integration follows. The emergence of new (types of) actors is another important aspect of the global processes, while illustrations of new market products and emerging segments may add new perspectives on the profile of the global capital market. Finally, the paper concludes with a brief overview of digitalization of the financial supply chain.

scholarly journals Risk of Investment in Cryptocurrencies

2021 ◽  
Vol 14 (3) ◽  
pp. 294-304
Author(s):  
Sylwester Kozak ◽  
Seweryn Gajdek
Keyword(s):  
Standard Deviation ◽  
Capital Markets ◽  
Risk Measures ◽  
Rates Of Return ◽  
Global Capital ◽  
The World ◽  
Investment Tool ◽  
Level Of Risk ◽  
International Companies

Abstract Subject and purpose of work: Cryptocurrencies are a phenomenon that has been strengthening its place in the world of finance for over ten years and which is becoming a frequent investment tool. The aim of this study is to compare the level of risk measures of investments in the cryptocurrency market with investments in global capital markets in 2011-2020. Materials and methods: The study used the quotations of the analysed instruments. The level of risk was estimated using standard deviation and semi-standard deviation of daily logarithmic rates of return. Results: Investment in cryptocurrencies is more risky than in shares of the largest international companies. The level of risk decreases with the duration of the cryptocurrency presence on the market. Conclusions: Achieving extraordinary rates of return generates an increased demand and volatility of cryptocurrencies’ quotations. The level of risk of investing in cryptocurrencies is much higher than in the indexes of global capital exchanges.

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