Speculative funds: the size o According to bIs see table 5-4 for daily fx transactions volume in emerging market. See table 5-5 for contract volume of derivatives trading
11 Speculative funds: the size ⚫ According to BIS – see table 5-4 for daily FX transactions volume in emerging market. – See table 5-5 for contract volume of derivatives trading
Speculative funds: the size o Cross board capital flow observed up to i trillion from 440 billion of 1990 capitalization of foreign bonds and equities to GDP in maior industrialized countries are more than 100%o capitalization of foreign bonds and equities in US are more than USS10 trillion the total capital available in major industrialized countries are more than USS 52 trillion
12 Speculative funds: the size ⚫ Cross board capital flow observed – up to 1 trillion from 440 billion of 1990 – capitalization of foreign bonds and equities to GDP in major industrialized countries are more than 100% – capitalization of foreign bonds and equities in US are more than US$10 trillion – the total capital available in major industrialized countries are more than US$ 52 trillion
Speculative funds: the size o The total assets to gDp of 300 largest institutional investors in US goes up to 110%(USS7, 200billion)in 1993 from 30%(USS535billion)in 1975 o The assets managed by insurance funds pension funds and mutual funds in 5 major industrialized countries up to USS 13 trillion in 1993(See table 5-6 for the detail
13 Speculative funds: the size ⚫ The total assets to GDP of 300 largest institutional investors in US goes up to 110% (US$7,200billion) in 1993 from 30% (US$535billion) in 1975 ⚫ The assets managed by insurance funds, pension funds and mutual funds in 5 major industrialized countries up to US$ 13 trillion in 1993 (See table 5-6 for the detail)
Speculative funds: the size o The capitalization of global equity market excess to USS14 trillion in 1993 o The outstanding balance of public debt in 7 major industrialized countries is USS 9 trillion o The assets managed by institutional investor in 5 major industrialized countries have increased 400%o and its ratio to gdp doubled from 1980s
14 Speculative funds: the size ⚫ The capitalization of global equity market excess to US$14 trillion in 1993 ⚫ The outstanding balance of public debt in 7 major industrialized countries is US$ 9 trillion ⚫ The assets managed by institutional investor in 5 major industrialized countries have increased 400% and its ratio to GDP doubled from 1980s
Speculative funds: the motive for movement 全球经济发展不平衡,资金供求失衡,获利机会 不均等 ●发展中国家设法结束金融抑制,进行了金融深化 ●金融市场发展非常迅速,出现政策优惠以及超额 盈利机会 发达国家广泛的金融自由化,为资本流动创造了 条件 ●网络以及通讯技术的发展,使资本低成本、迅速 转移成为现实
15 Speculative funds: the motive for movement ⚫ 全球经济发展不平衡，资金供求失衡，获利机会 不均等 ⚫ 发展中国家设法结束金融抑制，进行了金融深化 ⚫ 金融市场发展非常迅速，出现政策优惠以及超额 盈利机会 ⚫ 发达国家广泛的金融自由化，为资本流动创造了 条件 ⚫ 网络以及通讯技术的发展，使资本低成本、迅速 转移成为现实