In response to the volatility of capital flows since the mid-1990s, many emerging market economies have taken a variety of steps designed to "self-insure" against volatile capital flows. One such measure has been the development of local securities and derivatives markets as an alternative source of funding the public and corporate sectors. This paper examines this self-insurance policy, focusing on the extent to which emerging markets have developed local securities and derivatives, and what key policy issues have arisen as a result.
- ISBN13 9781589062917
- Publish Date 30 April 2004
- Publish Status Active
- Publish Country US
- Imprint International Monetary Fund (IMF)
- Edition illustrated Edition
- Format Paperback
- Pages 95
- Language English