Causes of Asset Shortages in Emerging Markets
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Summary:
We first illustrate that emerging markets (EMs) face a shortage of financial assets, with financial assets not growing as rapidly as domestic savings. We then estimate the asset shortage in EMs for 1995-2008. We develop a model that explains how asset shortage develop, and then econometrically estimate the causes of asset shortages. We conclude with policy implications.
Series:
Working Paper No. 2011/114
Subject:
Capital markets Expenditure External position Financial institutions Financial markets Foreign assets Pension spending Securities markets Stocks
English
Publication Date:
May 1, 2011
ISBN/ISSN:
9781455262373/1018-5941
Stock No:
WPIEA2011114
Pages:
41
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