Investing in Emerging Fixed Income Markets - Hardcover

Hardcover

ISBN 10: 0471218367 ISBN 13: 9780471218364

Publisher: Wiley, 2002

Synopsis

An investor's guide to capitalizing on opportunities in the fixed income markets of emerging economies
The fixed income market in emerging countries represents a new and potentially lucrative area of investment for professionals, but with great risk. Investing in Emerging Fixed Income Markets shows investors how to identify solid investment opportunities, assess the risk potential, and develop an investment approach to enhance long-term returns. Contributors to this book, among the leading experts from around the world, share their insights, advice, and knowledge on a range of topics that will help investors make the right decisions and choices when dealing with emerging fixed income markets. This fully updated and revised edition of the Handbook of Emerging Fixed Income and Currency Markets is the best guide for navigating the complicated world of emerging fixed income markets.
Efstathia Pilarinu (Strasbourg, France) is a consultant specializing in the derivatives and emerging market fixed income areas. She has worked for several major Wall Street firms, including Salomon Brothers, Bankers Trust, Societe General. She has a doctorate degree and an MBA in finance from the University of Tennessee and an undergraduate degree in mathematics from the University of Patras, Greece.
John Wiley & Sons, Inc. is proud to be the publisher of the esteemed Frank J. Fabozzi Series. Comprising nearly 100 titles--which include numerous bestsellers--The Frank J. Fabozzi Series is a key resource for finance professionals and academics, strategists and students, and investors. The series is overseen by its eponymous editor, whose expert instruction and presentation of new ideas have been at the forefront of financial publishing for over twenty years. His successful career has provided him with the knowledge, insight, and advice that has led to this comprehensive series.
Frank J. Fabozzi, PhD, CFA, CPA, is Editor of the Journal of Portfolio Management, which is read by thousands of institutional investors, as well as editor or author of over 100 books on finance for the professional and academic markets. Currently, Dr. Fabozzi is an adjunct Professor of Finance at Yale University's School of Management and on the board of directors of the Guardian Life family of funds and the Black Rock complex of funds.

About this title

From the Publisher

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From the Inside Flap

In the 1990s, emerging markets began to be treated as a separate asset class. Even though there is no formal consensus on the definition of an emerging country, there is an understanding among investors of emerging market characteristics.

Investing in Emerging Fixed Income Markets touches on a variety of topics that are important to investors operating within fixed income emerging markets. This comprehensive guide addresses issues pertaining to the corporate bond market, valuation techniques, credit analysis, and risk management through valuable case studies and an in-depth examination of each topic. There are also chapters that describe local fixed income instruments, particularities of valuations, and arbitrage opportunities in these markets. This guide continues with focused coverage of the lessons learned from the Asian crisis and the effect European emerging markets will have on the European Union and the euro.

Written by experienced practitioners in this field-portfolio managers, traders, and credit analysts-Investing in Emerging Fixed Income Markets provides expert knowledge, advice, and insight on a range of topics, including:
* An in-depth examination of the issues of emerging market corporate bond valuations, the factors to be considered, and the risks that must be closely monitored
* An account from a Brazilian local fixed income trader of the events that took place from the 1997 Asian crisis to the 1999 Brazilian devaluation
* A proposal of new practices for credit analysis and risk management that has been triggered by the 1997 Asian crisis
* Adapting debt covenants to emerging markets
* Analytical issues in valuing emerging market assets, including the effect of swap spreads on the valuation of floating-rate bonds in emerging markets, the issue of pricing options on pegged currencies, and an analytical framework for default probabilities and recovery rates in emerging market bond valuation
* Case studies of the Brazilian company Tevecap and the Asian bank Dao Heng that demonstrate the particularities of emerging market risks

Investing in Emerging Fixed Income Markets shows you how to identify solid investment opportunities, assess risk potential, and develop an investment approach that will identify and capitalize on market opportunities in order to enhance long-term returns. With this book as your guide, you will effectively navigate the complicated world of emerging fixed income markets and consistently come out on top.

Edition details

• Publisher: Wiley
• Publication date: 2002
• ISBN 10: 0471218367
• ISBN 13: 9780471218364
• Binding: Hardcover
• Language: English
• Edition number: 1
• Number of pages: 384
• Editor: Fabozzi Frank J., Pilarinu Efstathia