Emerging Market Finance: New Challenges and Opportunities

Emerging economies have faced new challenges and opportunities in banking and finance in the post-crisis era under increasing uncertainty. This edited volume of International Finance Review contains original papers that examine rising challenges facing emerging financial markets and institutions. It covers issues such as global banking, risk and contagion, stock market behaviour, global financing for firms, and financial inclusion in the major emerging economies. Particular emphasis on banking is given to the impact of foreign banks on lending by domestic banks, bank loan pricing behaviour with corporate default risk, determinants of nonperforming loans and their macrofinancial implications, foreign bank activities of emerging market entry, international financial shock transmission through the foreign bank lending channel via internal capital markets, and spillover effects of global monetary shocks from an advanced to an emerging economy. Additional emphasis on stock market behaviour and financing is given to emerging stock markets under policy uncertainty from advanced economies, extended multifactor models for emerging stock markets, asymmetric volatility and herd behaviour in geopolitical crises, trade financing as an important cause of the recent trade collapse, determinants of capital structure, and social and financial inclusion in the major emerging markets. This volume also provides significant insight and important policy implications for market participants, researchers, and policy makers in emerging market finance.