World Bank2012-06-152012-06-1520070-8213-6977-6https://hdl.handle.net/10986/8126The globalization of corporate finance also points to other challenges. As emerging-market corporations have expanded their international operations, they have increased their exposure to interest rate and currency risks. Concerns are growing that several countries in emerging Europe and Central Asia are experiencing a credit boom engendered by cross-border borrowing by banks of untested financial health and stamina. Some of these banks have increased their foreign exchange exposure to worrisome levels, a concern that warrants special attention from national policymakers. Given banks' critical role in domestic monetary systems, policymakers should step up their regulation of foreign borrowing by banks. The projected slowdown in global growth and tighter monetary policy in high-income countries are expected to make financing conditions for developing countries somewhat less favorable in coming years. While a soft landing is the most likely outcome, there are risks. Global development finance is the World Bank's annual review of global financial conditions facing developing countries. The current volume provides analysis of key trends and prospects, including coverage of capital raised by developing country based corporations.CC BY 3.0 IGOACCOUNTINGACCOUNTING STANDARDSASSET PRICESBANK BORROWINGBANK LENDINGBANK LOANSBANKING PRACTICESBANKING SECTORBASIS POINTSBOND FLOWSBOND INDEXBOND ISSUANCEBOND ISSUESBOND MARKETBOND SPREADSBONDSBUSINESS CYCLECAPACITY CONSTRAINTSCAPITAL ACCOUNTCAPITAL ALLOCATIONCAPITAL FLOWSCAPITAL MARKETCAPITAL MARKET DEVELOPMENTSCAPITAL MARKETSCDSCOMMERCIAL BANKSCOMMODITY PRICESCORPORATE BONDCORPORATE BONDSCORPORATE DEBTCORPORATE GOVERNANCECORPORATE SECURITIESCREDIBILITYCREDIT DEFAULTCREDIT DEFAULT SWAPCREDIT DEFAULT SWAPSCREDIT DERIVATIVECREDIT GROWTHCREDIT RATINGSCREDIT RISKCREDITORSCREDITWORTHINESSCURRENCY RISKSCURRENT ACCOUNT DEFICITCURRENT ACCOUNT DEFICITSDEBT BURDENSDEBT FLOWSDEBT MANAGEMENTDEBT RELIEFDEBT RESTRUCTURINGDERIVATIVE MARKETSDERIVATIVESDERIVATIVES MARKETSDEVELOPING COUNTRIESDEVELOPING COUNTRYDISBURSEMENTSDOMESTIC BANKSDOMESTIC DEBTDOMESTIC MARKETSECONOMIC POLICIESEMERGING ECONOMIESEMERGING MARKETEMERGING MARKET BONDSEMERGING MARKETSENFORCEMENT MECHANISMSEQUITY CAPITALEQUITY FINANCINGEQUITY FLOWSEQUITY ISSUESEQUITY MARKETEQUITY MARKET DEVELOPMENTSEQUITY MARKETSEQUITY RETURNSEXCHANGE COMMISSIONEXCHANGE RATESEXPORT GROWTHEXPORTERSEXTERNAL BORROWINGFINANCIAL DISTRESSFINANCIAL FLOWFINANCIAL FLOWSFINANCIAL HEALTHFINANCIAL INFRASTRUCTUREFINANCIAL MARKETSFINANCIAL STABILITYFISCAL POLICYFLEXIBLE EXCHANGE RATESFOREIGN BORROWERSFOREIGN CAPITALFOREIGN DEBTFOREIGN DIRECT INVESTMENTFOREIGN EXCHANGEFOREIGN EXCHANGE RESERVESFOREIGN INVESTMENTFOREIGN INVESTMENT FLOWSFOREIGN INVESTORFOREIGN INVESTORSFOREIGN LOANGLOBAL BUSINESSGLOBAL CAPITALGLOBAL DEBTGLOBAL DEVELOPMENT FINANCEGLOBAL ECONOMYGLOBAL FINANCEGLOBALIZATIONGOVERNMENT REGULATIONGROSS DOMESTIC PRODUCTINFLATIONINFLATIONARY PRESSUREINFLATIONARY PRESSURESINITIAL PUBLIC OFFERINGINITIAL PUBLIC OFFERINGSINTEREST RATEINTEREST RATESINTERNATIONAL BANKINTERNATIONAL BANKSINTERNATIONAL BONDINTERNATIONAL BORROWINGINTERNATIONAL CREDITINTERNATIONAL DEBTINTERNATIONAL DEBT MARKETSINTERNATIONAL ECONOMICSINTERNATIONAL FINANCEINTERNATIONAL FINANCIAL INSTITUTIONSINTERNATIONAL FINANCIAL MARKETSINTERNATIONAL FINANCIAL STATISTICSINTERNATIONAL INTERESTINTERNATIONAL INVESTORSINTERNATIONAL PORTFOLIOINVESTOR BASEINVESTOR BASESINVESTOR PARTICIPATIONIPOLIQUID MARKETSLIQUIDITYLOANLOAN MATURITYLOAN PORTFOLIOSLOCAL CURRENCYLOCAL DEBTLOCAL DEBT MARKETSLONG-TERM EXTERNAL DEBTMACROECONOMIC MANAGEMENTMACROECONOMIC POLICYMARKET CONDITIONSMARKET COUNTRIESMARKET DEBTMARKET ECONOMIESMARKET EQUITIESMARKET EQUITYMATURE MARKETSMATURITIESMATURITYMATURITY STRUCTUREMONETARY AUTHORITIESMONETARY FUNDMONETARY POLICYNET DEBTOIL PRICEOIL PRICESOPEN ECONOMIESOUTSTANDING DEBTPORTFOLIOPREPAYMENTSPRINCIPAL REPAYMENTSPRIVATE BONDPRIVATE CAPITALPRIVATE CREDITPRIVATE CREDITORSPRIVATE DEBTPRIVATE DEBT FLOWSPRIVATE DEBT MARKETPRIVATE DEBT MARKET DEVELOPMENTSPRIVATE DEBT MARKETSPRIVATE EQUITYPRIVATE FINANCEPRIVATE LENDINGPRUDENTIAL REGULATIONPUBLIC DEBTPURCHASING POWERREAL INTERESTREAL INTEREST RATESREGIONAL BOND MARKETSREGULATORY CAPACITYREGULATORY FRAMEWORKSREMITTANCEREMITTANCESREPAYMENTSRETURNRISK MANAGEMENTRISK PREMIUMSRISKY BORROWERSECURITIESSECURITIES REGULATIONSHORT-TERM DEBTSHORT-TERM INTEREST RATESSOVEREIGN DEBTSTOCK EXCHANGESTOCK EXCHANGESSTOCK MARKETSTOCK MARKET INDEXESSTOCKSSWAPTRADE BALANCETRADE FINANCINGTRADINGTRANSITION COUNTRIESTRANSITION ECONOMIESTRANSPARENCYTREASURIESTREASURYTREASURY BONDSVALUATIONSWARRANTSWorld Bank10.1596/978-0-8213-6977-7