Financial innovations Involving the Greek Drachma
January 1, 1997
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Summary
During the last decade, a number of new financial instruments and derivative products related to the Greek drachma have emerged in local as well as international capital markets. The paper analyzes the characteristics of these financial instruments which are traded in organized exchanges and over-the-counter (OTC) markets, and evaluates the conditions under which they have evolved. Drawing from legislative and industry developments in the European Union (EU) and the United States, the paper also examines the effects and implications of such developments for local markets and for the conduct of monetary and foreign exchange policies and argues for the need for sound macroeconomic policies.
Subject: Banking, Capital markets, Derivative markets, Financial instruments, Stock markets
Keywords: derivative product, deutsche mark, foreign exchange, interest rate, U.S. dollar, WP
Pages:
49
Volume:
1997
DOI:
Issue:
014
Series:
Working Paper No. 1997/014
Stock No:
WPIEA0141997
ISBN:
9781451843088
ISSN:
1018-5941
