Sara G. Castellanos and Lorenza Martinez
- Published in print:
- 2008
- Published Online:
- August 2013
- ISBN:
- 9780262026321
- eISBN:
- 9780262269025
- Item type:
- chapter
- Publisher:
- The MIT Press
- DOI:
- 10.7551/mitpress/9780262026321.003.0003
- Subject:
- Economics and Finance, Econometrics
This chapter analyzes the Mexican bond market. It describes policies that may have contributed to fostering capital markets and analyzes how much of the recent performance of the corporate debt ...
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This chapter analyzes the Mexican bond market. It describes policies that may have contributed to fostering capital markets and analyzes how much of the recent performance of the corporate debt market in Mexico can be attributed to them. The chapter is organized as follows. The second section describes some macroeconomic aspects and legal reforms that may be influencing the development of bond markets. The third section explains the government debt management strategies and the extension of the yield curve that may have contributed to expanding the corporate debt market. The fourth section portrays in more detail the recent growth trend of the corporate bond market. The fifth section is dedicated to empirical analysis, using two different approaches: Probit and tobit regressions are estimated to determine the impact of macroeconomic and legal factors on the probability of issuing corporate debt and the conditions of issuances. Finally, the sixth section identifies additional ways to encourage the deepening of bond markets, and presents some final remarks.Less
This chapter analyzes the Mexican bond market. It describes policies that may have contributed to fostering capital markets and analyzes how much of the recent performance of the corporate debt market in Mexico can be attributed to them. The chapter is organized as follows. The second section describes some macroeconomic aspects and legal reforms that may be influencing the development of bond markets. The third section explains the government debt management strategies and the extension of the yield curve that may have contributed to expanding the corporate debt market. The fourth section portrays in more detail the recent growth trend of the corporate bond market. The fifth section is dedicated to empirical analysis, using two different approaches: Probit and tobit regressions are estimated to determine the impact of macroeconomic and legal factors on the probability of issuing corporate debt and the conditions of issuances. Finally, the sixth section identifies additional ways to encourage the deepening of bond markets, and presents some final remarks.
Charles W. Calomiris
- Published in print:
- 2003
- Published Online:
- February 2013
- ISBN:
- 9780226032146
- eISBN:
- 9780226032153
- Item type:
- chapter
- Publisher:
- University of Chicago Press
- DOI:
- 10.7208/chicago/9780226032153.003.0008
- Subject:
- Economics and Finance, International
This chapter discusses the problems associated with the existing global financial architecture and proposes a set of solutions to those problems. These include reformulation of rules governing ...
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This chapter discusses the problems associated with the existing global financial architecture and proposes a set of solutions to those problems. These include reformulation of rules governing domestic bank safety-net policies, the lending policy of the International Monetary Fund (IMF), international competition in banking, and government debt management policies. These proposals are intended to replace existing lending programs including the Exchange Stabilization Fund (ESF) and ad hoc emergency lending by the World Bank and the Inter-American Development Bank. This chapter also evaluates the feasibility of implementing the proposed rules.Less
This chapter discusses the problems associated with the existing global financial architecture and proposes a set of solutions to those problems. These include reformulation of rules governing domestic bank safety-net policies, the lending policy of the International Monetary Fund (IMF), international competition in banking, and government debt management policies. These proposals are intended to replace existing lending programs including the Exchange Stabilization Fund (ESF) and ad hoc emergency lending by the World Bank and the Inter-American Development Bank. This chapter also evaluates the feasibility of implementing the proposed rules.
