Documents et rapports

The Anatomy of Index Rebalancings : Evidence from Transaction Data (anglais)

This paper exploits a novel dataset covering the universe of transactions in the Colombian Stock Exchange to analyze episodes of additions to and deletions from MSCI equity indexes. The analysis finds...

Estimating the Gains from International Diversification : The Case of Pension (anglais)

For pension funds, international assets represent an opportunity to improve their returns while possibly reducing risks. Nonetheless, pension funds in many developing countries face regulations that limit...

The Boom in Corporate Borrowing after the Global Financial Crisis : Different Tales from East Asia and Latin America (anglais)

Firms from emerging economies increased their bond financing significantly after the 2008-09 global financial crisis. The patterns of corporate borrowing in East Asia and Latin America offer very different...

Universidad de San Martín de Porres (USMP) (anglais)

Founded in 1962, Universidad de San Martín de Porres (USMP) is the largest private university in Peru. The university caters to students mostly from the lower-middle income segment of the student population...

2018-19 Audit Report - SIDBI Entity Audit Report (anglais)

Creating Domestic Capital Markets in Developing Countries : Perspectives from Market Participants (anglais)

Domestic capital markets that are deep, efficient, and well-regulated can create access to long-term, local-currency finance. Interviews with market participants reveal four important findings. First...

Indonesia Daily Economic Update (anglais)

This brief contains the economic highlights of Indonesia as of September 12, 2019. OJK will temporarily stop issuing new mutual funds. The President will amend 72 regulations to attract foreign investment.

LA P149670-TF0AA564 CA _ CATASTROPHE RISK PROJECT -FINANCIAL STATEMENT AT MAY 31, 2016 (anglais)

Philippines - Financial Sector Assessment Program : Capital Markets Development - Technical Note (anglais)

The Philippines corporate debt and equity markets will need to grow to provide alternative financing sources to support the strongly growing economy and emphasis on infrastructure spend. Capital markets...

Search for Yield in Large International Corporate Bonds : Investor Behavior and Firm Responses (anglais)

Emerging market corporations have significantly increased their borrowing in international markets since 2008. This paper shows that this increase was driven by large-denomination bond issuances, most...

The Rise of Domestic Capital Markets for Corporate Financing : Lessons from East Asia (anglais)

Firms from emerging economies have significantly increased the amount of bond financing, particularly after the Global Financial Crisis and when compared to other financing instruments. The literature...

Household Savings in Central Eastern and Southeastern Europe : How Do Poorer Households Save? (anglais)

Based on a survey of households in 10 Central Eastern European and Western Balkan countries, this paper presents new and unique evidence on which households have savings and how they save. The paper shows...

Colombia - Sust. Growth and Income Convergence DPL (anglais)

Survey of the Nepal Private Equity and Venture Capital Environment (anglais)

This paper discusses the landscape for private equity and venture capital financing in Nepal. It provides an overview of the nascent private equity and venture capital market in the country, describing...

Media Sentiment and International Asset Prices (anglais)

This paper assesses the impact of media sentiment on international equity prices using a dataset of more than 4.5 million Reuters articles published across the globe between 1991 and 2015. Media sentiment...

Assessing the international comovement of equity returns (anglais)

The international comovement of equity returns has been viewed as reflecting either pervasive common shocks or local linkages between countries. This paper brings these perspectives together by assessing...

Capital inflows, equity issuance activity, and corporate investment (anglais)

This paper uses issuance-level data to study how equity capital inflows that enter emerging market economies affect equity issuance and corporate investment. It shows that foreign inflows are strongly...

Gross capital flows, common factors, and the global financial cycle (anglais)

This paper assesses the international comovement of gross capital inflows and outflows using a two-level factor model. Among advanced and emerging countries, capital flows exhibit strong commonality: common...

Promoting competition in the distribution of mutual funds : lessons for securities markets regulatory authorities in emerging market economies (anglais)

This Policy Note focuses on distribution channels, the role they play in product diversification and costs, and how regulation can promote competition in mutual funds (MFs) distribution. In many emerging...

India - Financial sector assessment program update : securities regulation - technical note (anglais)

This Technical Note examines India’s securities market and the regulatory system overseeing the securities market and market participants. It is based upon a mission to Mumbai, India from March 14 – 31...