... Enterprise
Responsible Business Conduct in an
Emerging Market Economy 3
Evolution to a Market Economy
Tr ansition to a Market Economy
The Individual Business in an EmergingMarket Economy
SUMMARY 20
RESPONSIBLE ... governments, and civil society are asking
the same question, not just in emergingmarket economies, but also across
the globe.
The Individual Business in an EmergingMarket Economy
The RBE recognizes ... OF MARKET- ORIENTED INSTITUTIONS
To raise the living standards of its people, a society must provide the condi-
tions for a functioning market. In a free market, the role of government in
the marketplace...
... liberalization on the
integration of emerging markets capital markets into world financial markets are confined to equity markets,
ignoring currency markets that arguably are more important in determining ... as the
7
market liberalization on the degree of integration of emerging markets currency markets is yet to
be determined, claims of financial market integration following capital market liberalization ... “Stock Market Openings: Experience of Emerging Economies, ”
Journal of Business, 73, 25-66.
Korajczyk, R. A., 1996, “A Measure of Stock Market Integration for Developed and Emerging
Markets,”...
... the emerging markets together
accounted for 20 percent of global output,
versus 80 percent for the developed world.
By 2010, the share of emerging markets had
doubled to 40 percent, and this share ... consumer brand from an emerging eco-
nomy. Going ahead, in the spirit of next
practice, we are convinced that we will wit-
ness the rise of global brands from emerging
markets. Many will try, ... Chinese companies
are still relatively young, often no more than
20 years old, at least in their new market-
48/643
countries, or the more derogatory “Third
World.” The term emerging markets” was
unknown....
... banks that lend to emerging markets
can increase the amount they lend. As long as the banks do not collude, the funds for international
syndicated bank lending to emerging markets are elastic — if ... of emergingmarket debt. A large body of literature in international
finance and development studies emergingmarket debt. Two papers that specifically address the
international bond and loan markets ... potential
liquidity problems are more likely to borrow on the bond market. The second result follows from
the fact that there are costs associated with banking activity, and from the fact that the market
for bank...
... positive
market returns. This relationship seems to point to investors’ having a preference for
yield stabilization, i.e. when NAVs are high, market prices are low, when NAVs are low,
market prices are ... for
emerging market bonds include domestic high yield bonds (CSFB High Yield) or
emerging market equities (IFCI or IFCG). Again there remains a market capitalization
gap, but it at least we are ... has the lowest R-squares averaging some 54%.
9
In this next period from July 1995 to September 1997 emergingmarket bonds are
described solely by two asset classes: emergingmarket equities and...
... 2006/15
Central Bank Interventions,
Communication and Interest Rate
Policy in Emerging European
Economies
BALÁZS ÉGERT
INSTITUTE OF ECONOMICS, HUNGARIAN ACADEMY OF SCIENCES
BUDAPEST,...
... following three
conditions are satisfied. "First, the firm must have a product or a production process such that the firm enjoys
some market power advantage in foreign markets. Second, the firm ... 1999; Wild, Wild and Han, 2000).
Market Power Theory
The Market Power Theory states that FDI will occur when a company tries to establish a dominant market
presence in an industry. In ... Companies that are able to achieve a great deal of market power can
integrate forward to increase control over output (Wild, Wild and Han, 2000).
As has been reviewed in this section, there are a number...
... Guide to Retaining Employees
What Are Their Choices in Today's Labor Market?
P&G vs. Career Alternative (Dot.Com)
Conclusions derived from Focus ... consumers - P&G
examples are the case studies in marketing class
for brand management.
Changes the world - get in on the leading edge of
the new economy
Long term career development - high ... employees interested in potential P&G dot-
com work:
Attraction of P&G Career Attraction of Dot-Com Career;
P&G has the world's best training ground. Want to get experience...
... this area. The database provides the
nationality distribution of banks’ gross international asset position vis-à-vis countries outside the
reporting area.
14
Since the transition economiesare ... differences to stock market correlations. We also examined
whether market pressures in countries with flexible exchange rate regimes tended to comove more
with those in other economies than market pressures ... per series: 28. Note:
Coefficients that are significant at the 5 percent level are marked bold.
III. EXCHANGE MARKET PRESSURES
A. A Composite Exchange Market Pressure Index
In this section, we...
... interest rate
movements compared to risk-free rates between the euro
area and the United States are much less pronounced.
As relevant as they are, these aggregate results are never-
theless biased ... 29
Central bank rates, market rates and retail bank rates in
the euro area in the Context of the reCent Crisis
Chart 1 USE OF THE DEPOSIT FACILITY AND EURO AREA MONEY MARKET INTEREST RATE
(daily ... bond markets by creating the
Securities Markets Programme (SMP). Under the SMP, the Eurosystem may conduct interventions in the euro
area’s public and private debt securities secondary markets...
... 42
BIS Papers No 11
Bond markets and banks
in emergingeconomies
John Hawkins
1
1. Introduction
As the financial system in most emergingeconomies is centred on banks, an important ... funds when bond markets dry up, as occurred following the Russian default in 1998.
An alternative view is that bond markets rarely fulfil this “spare tyre” role. When banks are reluctant to ... healthy banks to have a sound bond market. And
a bond market may improve the health of banks, by improving market discipline.
2. Competition between banks and bond markets
2.1 The historical development...
... SCIENCE RESEARCH COUNCIL • MEDIA PIRACY IN EMERGINGECONOMIES SOCIAL SCIENCE RESEARCH COUNCIL • MEDIA PIRACY IN EMERGING ECONOMIES
Media Piracy in EmergingEconomies is
licensed under the Creative ... COUNCIL • MEDIA PIRACY IN EMERGING ECONOMIES
22
SOCIAL SCIENCE RESEARCH COUNCIL • MEDIA PIRACY IN EMERGING ECONOMIESSOCIAL SCIENCE RESEARCH COUNCIL • MEDIA PIRACY IN EMERGING ECONOMIES
consistency ... media goods are luxury items in most parts of the world, and licit media markets
are correspondingly tiny. Industry estimates of high rates of piracy in emerging markets—68%
for software in Russia,...