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Pension funds and domestic bond markets in emerging economies

Churchill, Jennifer; Bonizzi, Bruno; Kaltenbrunner, Annina

Authors

Jennifer Churchill

Bruno Bonizzi

Annina Kaltenbrunner



Abstract

The East Asian Financial Crisis forced the international policy community to take the risks of financial liberalisation in emerging economies (EE) seriously. Currency and maturity “mismatches” were seen to have introduced grave fragility to the balance sheets of banks and firms, opening the way for a currency crisis to induce a financial and economic event of regional proportions (Corsetti, Pesenti and Roubini, 1999; Sharma, 2003). This chapter focuses on two contemporary interrelated policy debates that emerged from these experiences: first, the need to create local currency domestic bond markets (LCBM), and second, the need for institutional investors, including private pension funds, to form the dependable, patient demand within them.

Citation

Churchill, J., Bonizzi, B., & Kaltenbrunner, A. (2021). Pension funds and domestic bond markets in emerging economies. In Capital Movements and Corporate Dominance in Latin America (264). Cheltenham, UK; Northampton, MA, USA: Edward Elgar. https://doi.org/10.4337/9781800372146

Acceptance Date Jan 11, 2021
Publication Date Jun 8, 2021
Deposit Date Jun 2, 2021
Publicly Available Date Jun 9, 2022
Pages 264
Series Title New Directions in Post-Keynesian Economics
Book Title Capital Movements and Corporate Dominance in Latin America
Chapter Number 4
ISBN 9781800372139
DOI https://doi.org/10.4337/9781800372146
Keywords pensions; bond markets; capital flows; emerging markets
Public URL https://uwe-repository.worktribe.com/output/7417459
Publisher URL https://www.e-elgar.com/shop/gbp/capital-movements-and-corporate-dominance-in-latin-america-9781800372139.html

Files

This file is under embargo until Jun 9, 2022 due to copyright reasons.

Contact Jennifer.Churchill@uwe.ac.uk to request a copy for personal use.




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