OECD Journal: Financial Market Trends

Frequency
Annual
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.

Article
 

Use of derivatives for debt management and domestic debt market development

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English
 
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    http://oecd.metastore.ingenta.com/content/2708011ec009.pdf
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Author(s):
Hans J. Blommestein, Das Udaibir, Alison Harwood, Ceyla Pazarbasioglu, Anderson Silva
29 May 2008
Pages:
13
Bibliographic information
No.:
9,
Volume:
2008,
Issue:
1
Pages:
223–235
http://dx.doi.org/10.1787/fmt-v2008-art9-en

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The Ninth OECD/World Bank/IMF Annual Global Bond Market Forum held on 22-23 May 2007 in Paris, France, highlighted that there has been very sharp growth in the use of derivative instruments in both mature and emerging market countries. The use of derivative instruments is helping public debt managers in their portfolio management operations and in supporting market development. Several institutional and structural impediments, however, remain toward the more active use of derivative products. Most developed market debt managers use derivative instruments for debt management purposes, while this is the case for only a handful of emerging markets. Several emerging markets, though, are taking steps towards developing the legal environment necessary to support derivative markets, and are addressing the challenges posed by illiquidity of the underlying cash market, deficiencies in prudential regulation, and restrictions on market participation.

 
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