The Resource What is an emerging market?, prepared by Ashoka Mody

What is an emerging market?, prepared by Ashoka Mody

Label
What is an emerging market?
Title
What is an emerging market?
Statement of responsibility
prepared by Ashoka Mody
Creator
Contributor
Author
Issuing body
Subject
Language
eng
Summary
As developing economies become richer, they seek to contract with the global economy in increasingly complex ways. Dealing with that complexity often implies the need to renegotiate contracts. However, such recontracting is viewed with concern, particularly by market participants. At the same time, iron-clad commitments to abstain from recontracting are untenable. Sovereign debt experts have long dealt with this dilemma. This paper argues that the acute trade-off between commitment and flexibility is not unique to sovereign debt. Instead, it is the defining characteristic of an emerging market. Examples of World Bank guarantees on behalf of sovereign governments to private lenders, exchange rate regimes, and international bond contracts, highlight the evolution from commitment to flexibility. Early interaction with international markets typically benefits from strong transaction-specific commitment. However, the goal is to grow out of transactional commitments to achieve commitment through credible institutions. Institutional commitment allows the benefits of flexibility, with the country's "word" acting as the necessary assurance to behave responsibly
Member of
Action
digitized
Cataloging source
OCLCE
Dewey number
336.3435091724
Index
no index present
LC call number
HG3881.5.I58
LC item number
W67 no.04/177
Literary form
non fiction
Nature of contents
dictionaries
Series statement
IMF working paper
Series volume
WP/04/177
Label
What is an emerging market?, prepared by Ashoka Mody
Publication
Antecedent source
file reproduced from original
http://library.link/vocab/branchCode
  • net
Carrier category
online resource
Carrier category code
cr
Carrier MARC source
rdacarrier
Color
black and white
Content category
text
Content type code
txt
Content type MARC source
rdacontent
Control code
ocn646977996
Dimensions
unknown
Extent
1 online resource (23 pages)
File format
one file format
Form of item
online
Isbn
9781451904260
Media category
computer
Media MARC source
rdamedia
Media type code
c
http://library.link/vocab/recordID
.b3716322x
Reproduction note
Electronic reproduction.
Specific material designation
remote
System control number
  • (OCoLC)646977996
  • imf1451904266
System details
Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002.

Library Locations

    • Deakin University Library - Geelong Waurn Ponds CampusBorrow it
      75 Pigdons Road, Waurn Ponds, Victoria, 3216, AU
      -38.195656 144.304955
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