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2017 | OriginalPaper | Buchkapitel

5. Securitization in Emerging Markets

verfasst von : Bonnie G. Buchanan

Erschienen in: Securitization and the Global Economy

Verlag: Palgrave Macmillan US

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Abstract

In this chapter, I examine the history and development of emerging markets securitization. While the US securitization market developed as a means to accelerate liquidity, much of the emerging market securitization was initially established to deal with non-performing loans (NPLs). I trace the development of Latin American and Asian securitization. Additionally, I provide a mini case of the Chinese securitization market which became the largest Asian securitization market in 2014. I trace the evolution of the Chinese market from its pilot securitization program in 2005 to the present. The mini case makes it clear that at first glance, it may appear that the surging CLO market in China has a sense of déjà vu about it, especially if we recall the CLO product track record in US markets during the financial crisis. However, CLOs were introduced into the USA and China for very different reasons.

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Vorheriges Kapitel Securitization and Risk Transfer

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Titel: Securitization in Emerging Markets
verfasst von: Bonnie G. Buchanan
Verlag: Palgrave Macmillan US
Buch: Securitization and the Global Economy
Print ISBN: 978-1-137-34972-9

Electronic ISBN: 978-1-137-34287-4

Copyright-Jahr: 2017
DOI: https://doi.org/10.1057/978-1-137-34287-4_5

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