The Development of Local Debt Markets in Asia

Goswami, Mangal; Sharma, Sunil

doi:10.2139/ssrn.1864435

Cited by 3 publications

(4 citation statements)

References 7 publications

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“…Similarly, the financial industry can develop a diverse group of assets for risk diversification. In other words, as a market matures, savers and borrowers have more chances to invest in a variety of investment, risk-sharing, and risk-management instruments (Goswami & Sharma, 2017). It has been widely acknowledged that the higher the level of FD, the more the accessibility of financial services, which allows for risk diversification in funding.…”

Section: Conceptual Review Financial Deepening (Fd)mentioning

confidence: 99%

“…Deep financial markets enable investment in a wide range of high-quality assets and risk-sharing mechanisms. Borrowers can also access various financing and risk management instruments thanks to a robust financial sector (Goswami and Sharma, 2017). FD denotes the ability of financial organizations to efficiently marshal savings for the exclusive purpose of investment.…”

Section: Conceptual Review Financial Deepening (Fd)mentioning

confidence: 99%

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Financial Deepening and Small and Medium Scale Enterprises (SMEs) Output in Nigeria

EHIEDU¹,

ONUORAH²,

OSAKWE³

2022

JEFMS

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The study examined the relationship between financial deepening (FD) and entrepreneurial growth (EG) in Nigeria for the period of 1986-2021 (36years). This was done in respect to the measures of FD, namely; Ratio of Broad Money Supply to Gross Domestic Product (M2/GDP), Ratio of Private Sector Credit to Gross Domestic Product (PSC/GDP), Ratio of Market Capitalization to Gross Domestic Product (MCAP/GDP) and Ratio of Loans to Small and Medium Scale Enterprises to Gross Domestic Product (LSMSE/GDP) in relation to EG was proxied by Small and Medium Scale Enterprises Output (SMSEO) in Nigeria. The data for the study was sourced from Central Bank of Nigeria (CBN) Statistical Bulletin and World Bank Development Indicators. Then, the stationary and normality tests was carried out, followed by the descriptive statistics, correlation and multiple regression tool of analysis with the aid of E-VIEW 9.0 statistical package. The results showed that M2/GDP, PSC/GDP, MCAP/GDP and LSMSE/GDP have positive and negative significant effect on SMSEO in Nigeria. Hence, the study indicated that FD had a considerable impact on EG in Nigeria. The report proposed that the CBN compel deposit money Banks (DMBs) to extend greater loan facilities to entrepreneurs (private sector), including young graduates and new entrepreneurs, without collateral to enable them to participate in successful businesses. In addition, venture capital firms should be developed to aid in EG, resulting in the production of value and wealth.

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Section: Conceptual Review Financial Deepening (Fd)mentioning

confidence: 99%

Section: Conceptual Review Financial Deepening (Fd)mentioning

confidence: 99%

Financial Deepening and Small and Medium Scale Enterprises (SMEs) Output in Nigeria

EHIEDU¹,

ONUORAH²,

OSAKWE³

2022

JEFMS

View full text Add to dashboard Cite

show abstract

“…Despite the expansion of local debt markets, progress needs to be made on several fronts (Goswami and Sharma 2011). These include improvements in market access and infrastructure, transparency, risk assessment and management by financial institutions, the legal and regulatory framework, and market liquidity.…”

Section: Box 25 Case Study: Financial Liberalization In Koreamentioning

confidence: 99%

Frontier and Developing Asia: The Next Generation of Emerging Markets

Schipke¹,

Pillai²

2015

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For some time now, emerging markets have played an ever-more important role on the global economic stage. Today they account for half of the world's GDP and are a key driver of global growth. At the same time, a new group of countries is getting more and more attention, including from global investors. These are fast-growing low-income countries often referred to as frontier economies.Within Asia, this group includes countries such as Bangladesh, Cambodia, Mongolia, and Vietnam. They are located in the world's fastest-growing region and benefit from favorable population dynamics. Many of these economies face similar macroeconomic and institutional challenges. Will they become the next generation of emerging markets? What are the policy lessons that might be relevant for other low-income countries?This book addresses these questions, based on our experience of working with Asia's emerging, frontier, and developing economies over many years. We highlight that continued structural transformation and increased emphasis on inclusive growth will be critical to achieve the full potential of these countries. Also, drawing on the success of today's emerging markets, high growth and rapid structural transformation needs to be complemented by increased investment in "soft" infrastructure to avoid crises down the road. In particular, to realize the strong potential of frontier and developing Asia, upgrading of monetary and fiscal policy frameworks and continued strengthening of financial sector regulation and supervision will be critical.The IMF is contributing to the progress the frontier economies are making through our ongoing policy dialogue, analytical work, and capacity building. I am confident that this book will contribute to this effort and also raise awareness around the globe of the great potential that Asia's frontier economies have to lift their countries to a new level of widely shared growth and well-being of their citizens.

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“…6 Some of these trends mirror conscious policy efforts. See Felman and others (2011) and Goswami and Sharma (2011) on the Asian Bond Markets Initiative. The G20 has also emphasized the development of local currency bond markets, which led to a joint paper by the IMF, the World Bank, the European Bank for Reconstruction and Development, and the Organization for Economic Cooperation and Development, titled "Local Currency Bond Markets-A Diagnostic Framework," in July 2013.…”

Section: Growing Importance In Global Portfolios and Deepening Financ...mentioning

confidence: 99%

The Development of Local Debt Markets in Asia

Cited by 3 publications

References 7 publications

Financial Deepening and Small and Medium Scale Enterprises (SMEs) Output in Nigeria

Financial Deepening and Small and Medium Scale Enterprises (SMEs) Output in Nigeria

Frontier and Developing Asia: The Next Generation of Emerging Markets

Global Financial Stability Report, April 2014: Moving from Liquidity- to Growth-Driven Markets

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