IMF Working Papers

Causes of Asset Shortages in Emerging Markets

By Jiaqian Chen, Patrick A. Imam

May 1, 2011

Download PDF

Preview Citation

Format: Chicago

Jiaqian Chen, and Patrick A. Imam Causes of Asset Shortages in Emerging Markets, (USA: International Monetary Fund, 2011) accessed November 21, 2024
Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary

We first illustrate that emerging markets (EMs) face a shortage of financial assets, with financial assets not growing as rapidly as domestic savings. We then estimate the asset shortage in EMs for 1995-2008. We develop a model that explains how asset shortage develop, and then econometrically estimate the causes of asset shortages. We conclude with policy implications.

Subject: Capital markets, Expenditure, External position, Financial institutions, Financial markets, Foreign assets, Pension spending, Securities markets, Stocks

Keywords: Asset class, Asset issuance, Asset shortage, Asset shortage Indexit, Asset shortage persistence, Asset shortage problem, Asset supply, Capital Market, Capital markets, East Asia, EM asset class, Emerging Market, Fixed income, Foreign assets, Global, Incomplete market, Middle East, Money supply, Pension spending, Private equity, Regulation, Risk asset class, Securities markets, Stocks, Supply and demand, Supply of financial assets, Venture capital, WP

Publication Details

  • Pages:

    41

  • Volume:

    ---

  • DOI:

    ---

  • Issue:

    ---

  • Series:

    Working Paper No. 2011/114

  • Stock No:

    WPIEA2011114

  • ISBN:

    9781455262373

  • ISSN:

    1018-5941