OECD Journal: Financial Market Trends

Frequency
Semiannual
ISSN: 
1995-2872 (online)
ISSN: 
1995-2864 (print)
http://dx.doi.org/10.1787/19952872
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The articles in Financial Market Trends focus on trends, structural issues and developments in financial markets and the financial sector.

 

Volume 2015, Issue 1 You do not have access to this content

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  03 Feb 2016
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    http://oecd.metastore.ingenta.com/content/2715011ec001.pdf
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  • http://www.keepeek.com/Digital-Asset-Management/oecd/finance-and-investment/finance-and-climate_fmt-2015-5jrrz76d5td5
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Finance and climate
Jean Boissinot, Doryane Huber, Gildas Lame

Climate change is a major political and economic challenge. This paper sketches out its relevance for the financial sector. Necessary low-carbon investments imply a significant yet manageable financing gap. However, we argue that beyond capital mobilisation that has attracted most attention until now, the main challenge is ensuring a transition-consistent capital reallocation. The financial sector has a key role to play in that respect, complementary to appropriately designed climate policies. To help the financial system fulfil its role, the understanding of the economics of climate change should be deepened and a sector-wide businessoriented appropriation of these issues should be promoted.

JEL classification: Q54, E10, E44, G12, G14, G21, G22, G23, G28.
Keywords: Climate change, low carbon, climate finance, green finance, investment, capital allocation, financial system, risks

  03 Feb 2016
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    http://oecd.metastore.ingenta.com/content/2715011ec002.pdf
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  • http://www.keepeek.com/Digital-Asset-Management/oecd/finance-and-investment/financial-instruments-for-managing-disaster-risks-related-to-climate-change_fmt-2015-5jrqdkpxk5d5
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Financial instruments for managing disaster risks related to climate change
Leigh Wolfrom,

This article provides an overview of the potential implications of climate change for the financial management of disaster risks. It outlines the contribution of insurance to reducing the economic disruption of disaster events and policy approaches to supporting the penetration of disaster insurance coverage and the capacity of insurance markets to absorb disaster risks, including through the use of capital markets instruments and international co-operation in risk pooling. It concludes with a number of recommendations for improving the financial management of disaster risks in the context of climate change and some areas of further work.

JEL classification: G22, G23, H84, Q54
Keywords: Climate change, natural disasters, extreme events, insurance, reinsurance, catastrophe bonds

  03 Feb 2016
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    http://oecd.metastore.ingenta.com/content/2715011ec003.pdf
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  • http://www.keepeek.com/Digital-Asset-Management/oecd/finance-and-investment/opportunities-and-limitations-of-public-equity-markets-for-smes_fmt-2015-5jrs051fvnjk
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Opportunities and limitations of public equity markets for SMEs
Iota Kaousar Nassr, Gert Wehinger

This article on public equity financing for small and medium-sized enterprises (SMEs) complements earlier OECD work on market-based finance for SMEs. The development of this market segment could promote investment in SMEs and, together with securitisation and other non-bank debt financing instruments, encourage an enhanced allocation of risk and risk taking, and thus support growth. Despite the benefits of public SME equity, its share is small and an equity gap exists for risk financing more generally. A number of important impediments to the wider use of public equities for SMEs are identified, such as admission cost and listing requirements, lack of liquidity, educational gaps, limited ecosystems, and tax treatment, all of which require attention by regulators and policy makers alike.

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