1. 资源名称：Global Financial Stability Report_Financial Market Turbulence, Causes, Consequences, and Policies; October 2007

2. 作者：IMF

3. 资源类别：研究报告

4. 资源大小、格式、页数：2.87MB   .pdf  196 pages

Contents

Preface vii
Executive Summary ix

Chapter 1. Assessing Risks To Global Financial Stability 1
Global Financial Stability Map 2
Credit Indiscipline in Mature Markets 7
Weaker Credit and Market Discipline Warrants Increased Surveillance in Emerging Markets 22
Investment Infl ows into Emerging Markets—Do They Destabilize Local Markets? 27
Policy Challenges 33
Annex 1.1. The Global Financial Stability Map 39
Annex 1.2. Sovereign Wealth Funds 45
References 50

Chapter 2. Do Market Risk Management Techniques Amplify Systemic Risks? 52
VaR and Other Risk Management Techniques 54
Assessing Amplifi cation Effects in a Stylized Market Risk Management Framework 57
Developments in Market Risk Management Practices by Banks and Hedge Funds 63
Observations 69
Policy Implications 71
Conclusions 73
References 74

Chapter 3. The Quality of Domestic Financial Markets and Capital Infl ows 77
Does Domestic Financial Development Help Determine Capital Infl ows? 79
Challenges Associated with Capital Infl ows and Policy Responses: Case Studies 85
Key Results and Conclusions 90
Annex 3.1. Estimation Specifi cation and Results 93
Annex 3.2. Experiences with Recent Capital Infl ows: Brazil, India, Romania,
South Africa, and Vietnam 100
Annex 3.3. Experiences with Recent Capital Infl ows: Selected Countries 105
References 108
Glossary 110
Annex: Summing Up by the Acting Chair 117
Statistical Appendix 121

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