The Role of Subordinated Debt in Market Discipline : The Case of Emerging Markets

The Case of Emerging Markets

The Role of Subordinated Debt in Market Discipline : The Case of Emerging Markets
This paper evaluates the potential role of mandatory subordinated debt (MSD) in enhancing market discipline in emerging markets. The conceptual merits and key preconditions of MSD are first reviewed. Then, the extent to which emerging markets satisfy these preconditions-among them the monitorability of bank assets, the presence of nonbank... READ MORE...

Publication date: December 2000
ISBN 9781451875034
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