Open Access. Powered by Scholars. Published by Universities.®
- Discipline
Articles 1 - 2 of 2
Full-Text Articles in Business
Choice Of Currency By East Asia Bond Issuers, David Fernandez, Simon Klassen
Choice Of Currency By East Asia Bond Issuers, David Fernandez, Simon Klassen
Research Collection Lee Kong Chian School Of Business
In discussing bond markets in Asia, academics and policymakers typically begin by noting that the Asian crisis of 1997-98 in part resulted from the underdevelopment of the region’s domestic bond markets and the resultant currency and duration mismatches. When assessing the progress made in developing these markets in the post-crisis years, academics and policymakers usually observe that, while several domestic currency government bond markets have moved ahead, corporate bond markets have lagged (Asian Development Bank (2002), Reserve Bank of Australia (2003)). The policy conclusion is therefore often drawn: to prevent another Asian crisis, Asian bond markets must be further developed.
Sources Of Price Discovery In The Australian Dollar Currency Market, Alex Frino, Elvis Jarnecic, Andrew S. Tan, Maxwell Stevenson
Sources Of Price Discovery In The Australian Dollar Currency Market, Alex Frino, Elvis Jarnecic, Andrew S. Tan, Maxwell Stevenson
Faculty of Commerce - Papers (Archive)
This paper examines the source of price discovery in the Australian Dollar currency market. The time-varying relationship between changes in quotes posted by cash market dealers and changes in currency futures quotes is estimated. The cash market quotations identifY the eleven dealers posting the quotes, as well as geographical location of the dealers (Australia or overseas). Reported results show that price discovery originates in the cash market in any trading period. Amongst CUlTency dealers, the results imply that local desks are price leaders during Australian trading hours. Though some foreign desks do contribute to price discovery during the European and …