The Development of Debt Financial Markets – the Case of Selected CEE and Latin America Economies

Kód výsledku v IS VaVaI

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Výsledek na webu

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DOI - Digital Object Identifier

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Jazyk výsledku

angličtina

Název v původním jazyce

The Development of Debt Financial Markets – the Case of Selected CEE and Latin America Economies

Popis výsledku v původním jazyce

This research deals with loans and other debt sources provided to the non-financial sector. Naturally, especially in perfect market conditions, all of the debt sources are substitutes to each other. However, in real economy the choice between loans and other debt (e.g. bonds) depends on many variables. Some studies state that the choice among a variety of debt sources depends on the development of the financial market respectively of the economy as a whole. For example, it is quite well known that European market is rather bank-based, while US one rather capital-based. The aim of this paper is to characterize and compare the development of selected Central and Eastern European (CEE) and Latin America financial loan markets. For this purpose, we analyzed the data from the Bank of International Settlements (BIS), which gathers these data from the reporting economies (e.g. advanced, emerging market and other economies). The method that was used for the data analysis was time series correlation analysis. From the conducted research there can be stated that there are no significant differences between the development of CEE and Latin America markets at the aggregate level as well as among each analyzed country separately. The only notable exception is the development in Argentina, which still suffers from the consequences of state bankruptcy.

Název v anglickém jazyce

The Development of Debt Financial Markets – the Case of Selected CEE and Latin America Economies

Popis výsledku anglicky

This research deals with loans and other debt sources provided to the non-financial sector. Naturally, especially in perfect market conditions, all of the debt sources are substitutes to each other. However, in real economy the choice between loans and other debt (e.g. bonds) depends on many variables. Some studies state that the choice among a variety of debt sources depends on the development of the financial market respectively of the economy as a whole. For example, it is quite well known that European market is rather bank-based, while US one rather capital-based. The aim of this paper is to characterize and compare the development of selected Central and Eastern European (CEE) and Latin America financial loan markets. For this purpose, we analyzed the data from the Bank of International Settlements (BIS), which gathers these data from the reporting economies (e.g. advanced, emerging market and other economies). The method that was used for the data analysis was time series correlation analysis. From the conducted research there can be stated that there are no significant differences between the development of CEE and Latin America markets at the aggregate level as well as among each analyzed country separately. The only notable exception is the development in Argentina, which still suffers from the consequences of state bankruptcy.

Druh

D - Stať ve sborníku

CEP obor

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OECD FORD obor

50206 - Finance

Projekt

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Návaznosti

I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace

Rok uplatnění

2017

Kód důvěrnosti údajů

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Název statě ve sborníku

European Financial Systems 2017. Proceedings of the 14th International Scientific Conference, Brno: Masaryk University, 2017, part 2

ISBN

978-80-210-8610-4

ISSN

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e-ISSN

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Počet stran výsledku

7

Strana od-do

19-25

Název nakladatele

Masarykova Univerzita

Místo vydání

Brno

Místo konání akce

Brno

Datum konání akce

1. 1. 2017

Typ akce podle státní příslušnosti

WRD - Celosvětová akce

Kód UT WoS článku

000418110800002