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Essai sur les déterminants empiriques de développement des marchés obligataires

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Author Info
Jamel Boukhatem
Abstract

Based on the methodology adopted by Eichengreen and Luengnaruemitchai (2004), Luengnaruemitchai and Ong (2005), Borensztein and al. (2006), and Eichengreen and al. (2006), this study analyse the development of local bond markets. We show that the development of bond markets is a phenomenon with multiple dimensions. The contribution of our study is threefold. First, we do not limit our analysis to Asian and Latin-American emerging countries, we consider although countries from the Middle East and Africa according to data availability. Then we introduce other factors to better understand the development of bond markets. Finally, we present a dynamic version of the determinants of bond market development.

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Publisher Info
Paper provided by University of Paris West - Nanterre la Défense, EconomiX in its series EconomiX Working Papers with number 2009-32.

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Length: 34 pages
Date of creation: 2009
Date of revision:
Handle: RePEc:drm:wpaper:2009-32

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Related research
Keywords: Bond markets; economic factors; institutional factors; economic policy; dynamic panel data; GMM system;

Find related papers by JEL classification:
E44 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Financial Markets and the Macroeconomy
E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy
F34 - International Economics - - International Finance - - - International Lending and Debt Problems
G15 - Financial Economics - - General Financial Markets - - - International Financial Markets
G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation
I20 - Health, Education, and Welfare - - Education - - - General
J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity

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This page was last updated on 2009-11-23.

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