Publication:
The Growing Role of the Euro in Emerging Market Finance

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dc.contributor.authorMasson, Paul R.
dc.date.accessioned2012-06-08T19:53:06Z
dc.date.available2012-06-08T19:53:06Z
dc.date.issued2007-11
dc.description.abstractMore than eight years after the introduction of the euro, impacts on developing countries have been relatively modest. Overall, the euro has become much more important in debt issuance than in official foreign exchange reserve holdings. The former has benefited from the creation of a large set of investors for which the euro is the home currency, while demand for euro reserves has been held back by the dominance of the dollar as a vehicle and intervention currency, and the greater liquidity of the market for US treasury securities. Fears of further dollar decline may fuel some shifts out of dollars into euros, however, with the potential for a period of financial instability.en
dc.identifierhttp://documents.worldbank.org/curated/en/2007/11/8665371/growing-role-euro-emerging-market-finance-growing-role-euro-emerging-market-finance
dc.identifier.doi10.1596/1813-9450-4381
dc.identifier.urihttps://hdl.handle.net/10986/7584
dc.languageEnglish
dc.publisherWorld Bank, Washington, DC
dc.relation.ispartofseriesPolicy Research Working Paper; No. 4381
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo/
dc.subjectADVANCED COUNTRIES
dc.subjectBALANCE OF PAYMENTS
dc.subjectBALANCE OF PAYMENTS DEFICIT
dc.subjectBASIS POINTS
dc.subjectBID
dc.subjectBOND
dc.subjectBOND ISSUANCE
dc.subjectBOND MARKETS
dc.subjectBOND PORTFOLIOS
dc.subjectBONDS
dc.subjectCAPITAL ACCOUNT
dc.subjectCAPITAL ASSET
dc.subjectCAPITAL ASSET PRICING
dc.subjectCAPITAL CONTROLS
dc.subjectCAPITAL INFLOWS
dc.subjectCENTRAL BANK
dc.subjectCENTRAL BANKS
dc.subjectCOLLATERAL
dc.subjectCOMMODITIES
dc.subjectCOMMODITY
dc.subjectCOMMODITY PRICES
dc.subjectCONSUMER PRICE INDEXES
dc.subjectCONVERTIBILITY
dc.subjectCORPORATE BOND
dc.subjectCORPORATE BOND MARKET
dc.subjectCRAWLING PEGS
dc.subjectCREDIT RISKS
dc.subjectCREDITORS
dc.subjectCURRENCY BOARD
dc.subjectCURRENCY COMPOSITION
dc.subjectCURRENCY MARKETS
dc.subjectCURRENCY SWAPS
dc.subjectCURRENCY VALUES
dc.subjectCURRENT ACCOUNT DEFICIT
dc.subjectCURRENT ACCOUNT DEFICITS
dc.subjectCURRENT ACCOUNT SURPLUSES
dc.subjectDEBT
dc.subjectDEBT INSTRUMENTS
dc.subjectDEBT ISSUANCE
dc.subjectDEBT ISSUES
dc.subjectDEBT SECURITIES
dc.subjectDEBT SERVICE
dc.subjectDEBTS
dc.subjectDEFICITS
dc.subjectDEGREE OF RISK
dc.subjectDEUTSCHE MARK
dc.subjectDEVELOPING COUNTRIES
dc.subjectDEVELOPING COUNTRY
dc.subjectDIFFERENT CURRENCIES
dc.subjectDOMESTIC INFLATION
dc.subjectDURABLE
dc.subjectEMERGING MARKET
dc.subjectEMERGING MARKET COUNTRIES
dc.subjectEMERGING MARKET DEBT
dc.subjectEMERGING MARKET ECONOMIES
dc.subjectEMERGING MARKET FINANCE
dc.subjectEMERGING-MARKET
dc.subjectEQUAL SHARES
dc.subjectEQUITIES
dc.subjectEURO
dc.subjectEUROPEAN MONETARY SYSTEM
dc.subjectEX POST RETURNS
dc.subjectEXCHANGE MARKET INTERVENTION
dc.subjectEXCHANGE RATE
dc.subjectEXCHANGE RATE CHANGES
dc.subjectEXCHANGE RATE FLEXIBILITY
dc.subjectEXCHANGE RATE MOVEMENTS
dc.subjectEXCHANGE RATE PEGS
dc.subjectEXCHANGE RATE REGIMES
dc.subjectEXCHANGE RATE RISK
dc.subjectEXCHANGE RATES
dc.subjectEXCHANGE RISK
dc.subjectEXPOSURE
dc.subjectEXTERNAL ASSETS
dc.subjectEXTERNAL BORROWING
dc.subjectEXTERNAL DEBT
dc.subjectEXTERNAL FINANCING
dc.subjectFEDERAL RESERVE
dc.subjectFEDERAL RESERVE BANK
dc.subjectFINANCES
dc.subjectFINANCIAL CRISES
dc.subjectFINANCIAL DEVELOPMENTS
dc.subjectFINANCIAL INSTABILITIES
dc.subjectFINANCIAL INSTABILITY
dc.subjectFINANCIAL INSTITUTIONS
dc.subjectFINANCIAL INTEGRATION
dc.subjectFINANCIAL INTERMEDIARY
dc.subjectFINANCIAL MARKETS
dc.subjectFIXED EXCHANGE RATE
dc.subjectFLEXIBLE EXCHANGE RATES
dc.subjectFLOATING EXCHANGE RATES
dc.subjectFOREIGN ASSETS
dc.subjectFOREIGN CURRENCIES
dc.subjectFOREIGN EXCHANGE
dc.subjectFOREIGN EXCHANGE MARKET
dc.subjectFOREIGN EXCHANGE MARKETS
dc.subjectFOREIGN EXCHANGE RESERVE
dc.subjectFOREIGN EXCHANGE RESERVES
dc.subjectFOREIGN EXCHANGE TRANSACTIONS
dc.subjectGLOBAL DEVELOPMENT FINANCE
dc.subjectGOVERNMENT BOND
dc.subjectGOVERNMENT BOND MARKETS
dc.subjectGOVERNMENT BOND YIELDS
dc.subjectGOVERNMENT BONDS
dc.subjectGOVERNMENT DEBT
dc.subjectGOVERNMENT PAPER
dc.subjectHOLDING
dc.subjectHOLDINGS
dc.subjectHOME COUNTRY
dc.subjectHOME CURRENCY
dc.subjectINDUSTRIAL COUNTRIES
dc.subjectINDUSTRIAL COUNTRY
dc.subjectINFLATION
dc.subjectINTEREST RATE
dc.subjectINTEREST RATES
dc.subjectINTERNATIONAL BANK
dc.subjectINTERNATIONAL BOND
dc.subjectINTERNATIONAL BOND MARKETS
dc.subjectINTERNATIONAL BONDS
dc.subjectINTERNATIONAL BORROWINGS
dc.subjectINTERNATIONAL CAPITAL
dc.subjectINTERNATIONAL CAPITAL MARKETS
dc.subjectINTERNATIONAL DEBT
dc.subjectINTERNATIONAL DEBT SECURITIES
dc.subjectINTERNATIONAL ECONOMIES
dc.subjectINTERNATIONAL FINANCE
dc.subjectINTERNATIONAL FINANCIAL STATISTICS
dc.subjectINTERNATIONAL LIQUIDITY
dc.subjectINTERNATIONAL MONETARY SYSTEM
dc.subjectINTERNATIONAL RESERVES
dc.subjectINTERNATIONAL TRADE
dc.subjectINVESTMENT PORTFOLIO
dc.subjectINVESTMENT PURPOSE
dc.subjectINVESTMENT PURPOSES
dc.subjectJAPANESE YEN
dc.subjectLIQUID ASSETS
dc.subjectLIQUID MARKET
dc.subjectLIQUIDITY
dc.subjectLIQUIDITY OF MARKETS
dc.subjectLONG-TERM BOND MARKETS
dc.subjectLONG-TERM DEBT
dc.subjectMARKET CONDITIONS
dc.subjectMARKET FINANCE
dc.subjectMARKET FOR GOVERNMENT SECURITIES
dc.subjectMARKET FOR SECURITIES
dc.subjectMARKET LIQUIDITY
dc.subjectMARKET PRICE
dc.subjectMARKET TRADE
dc.subjectMARKET VALUE
dc.subjectMATURITY
dc.subjectMATURITY MISMATCH
dc.subjectMATURITY SPECTRUM
dc.subjectMONETARY FUND
dc.subjectMONETARY INTEGRATION
dc.subjectMONETARY POLICIES
dc.subjectMONETARY POLICY
dc.subjectNET DEBT
dc.subjectNOMINAL EXCHANGE RATES
dc.subjectNOMINAL INTEREST RATES
dc.subjectNUMERAIRE
dc.subjectOFFICIAL RESERVES
dc.subjectOPTIMAL PORTFOLIO
dc.subjectOPTIMAL PORTFOLIOS
dc.subjectOUTPUT
dc.subjectPEGS
dc.subjectPORTFOLIO
dc.subjectPORTFOLIO ALLOCATION
dc.subjectPORTFOLIO DIVERSIFICATION
dc.subjectPORTFOLIO INFLOWS
dc.subjectPOSSIBILITY OF DEFAULT
dc.subjectPOUNDS STERLING
dc.subjectPRICE CHANGES
dc.subjectRAPID GROWTH
dc.subjectRATES OF RETURN
dc.subjectREPO
dc.subjectREPO MARKET
dc.subjectRESERVE CURRENCIES
dc.subjectRESERVES
dc.subjectRETURN
dc.subjectRETURNS
dc.subjectRISK AVERSION
dc.subjectRISK OF DEFAULT
dc.subjectSCENARIOS
dc.subjectSECONDARY MARKET
dc.subjectSECONDARY MARKETS
dc.subjectSETTLEMENT
dc.subjectSHORT-TERM CAPITAL
dc.subjectSINGLE MARKET
dc.subjectSMALL ECONOMIES
dc.subjectSOVEREIGN DEBT
dc.subjectSOVEREIGN ISSUERS
dc.subjectSOVEREIGN RISK
dc.subjectSTOCK DATA
dc.subjectSTORE OF VALUE
dc.subjectSWAPS
dc.subjectSWISS FRANCS
dc.subjectTAX
dc.subjectTAX COLLECTION
dc.subjectTERMS OF TRADE
dc.subjectTRADES
dc.subjectTRADING
dc.subjectTRANSACTIONS COSTS
dc.subjectTREASURIES
dc.subjectTREASURY
dc.subjectTREASURY BILLS
dc.subjectTREASURY SECURITIES
dc.subjectTREATY
dc.subjectVALUATION
dc.subjectVENTURE CAPITALIST
dc.subjectVOLATILITY
dc.subjectWORLD ECONOMY
dc.subjectYEN
dc.titleThe Growing Role of the Euro in Emerging Market Financeen
dspace.entity.typePublication
okr.crossref.titleThe Growing Role Of The Euro In Emerging Market Finance
okr.date.doiregistration2025-04-10T09:35:13.939056Z
okr.doctypePublications & Research::Policy Research Working Paper
okr.doctypePublications & Research
okr.docurlhttp://documents.worldbank.org/curated/en/2007/11/8665371/growing-role-euro-emerging-market-finance-growing-role-euro-emerging-market-finance
okr.globalpracticeMacroeconomics and Fiscal Management
okr.globalpracticeFinance and Markets
okr.globalpracticeTrade and Competitiveness
okr.guid261421468136795649
okr.identifier.doi10.1596/1813-9450-4381
okr.identifier.externaldocumentum000158349_20071109090511
okr.identifier.internaldocumentum8665371
okr.identifier.reportWPS4381
okr.language.supporteden
okr.pdfurlhttp://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2007/11/09/000158349_20071109090511/Rendered/PDF/wps4381.pdfen
okr.topicFinance and Financial Sector Development::Currencies and Exchange Rates
okr.topicPrivate Sector Development::Emerging Markets
okr.topicFinance and Financial Sector Development::Debt Markets
okr.topicFiscal and Monetary Policy
okr.topicMacroeconomics and Economic Growth
okr.unitDevelopment Research Group (DECRG)
okr.volume1 of 1
relation.isSeriesOfPublication26e071dc-b0bf-409c-b982-df2970295c87
relation.isSeriesOfPublication.latestForDiscovery26e071dc-b0bf-409c-b982-df2970295c87
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