Shah / Thomas / Gorham Indian Financial Markets

An Insider's Guide to How the Markets Work
1. Auflage 2008
ISBN: 978-0-08-055994-0
Verlag: Elsevier Science & Techn.
Format: PDF
Kopierschutz: 1 - PDF Watermark

E-Book, Englisch, 264 Seiten, Web PDF

The whole world wants to invest in India. But how to do this successfully? Written by two Indian financial experts with a seasoned expert of the Chicago Mercantile Exchange, this book tells you the why and how of investing in India. It explains how India's financial markets work, discusses the amazing growth of the Indian economy, identifies growth drivers, uncovers areas of uncertainty and risk. It describes how each market works: private equity and IPOs, bonds, stocks, derivatives, commodities, real estate, currency. The authors include a discussion of capital controls in each section to address the needs of foreign investors. Learn about the the markets, the instruments, the participants, and the institutions governing trading, clearing, and settlement of transactions, as well as the legal and regulatory framework governing financial securities transactions.

--Written by two life-long insiders who can explain India's financial markets to outsiders
--Clear and comprehensive coverage of this economic powerhouse
--Caters to the needs of foreign investors

Autoren/Hrsg.

Shah, Ajay

Thomas, Susan

Gorham, Michael

Inhaltsverzeichnis

1;Cover;1
2;India’s Financial Markets;6
3;Copyright Page;7
4;Dedications;8
5;Table of Contents;10
6;Foreword;14
7;Preface;16
8;Chapter 1. The Economy;18
8.1;1.1 Overall Growth Experience;18
8.2;1.2 Understanding India’s Post-Independence Trajectory;20
8.3;1.3 Interpreting the Growth Experience;22
8.4;1.4 Trends and Volatility in GDP Growth;38
8.5;1.5 Conclusions;47
9;Chapter 2. The Firms;50
9.1;2.1 The CMIE Database;50
9.2;2.2 The Large Nonfinancial Firms of India;51
9.3;2.3 Role of Equity Financing;57
9.4;2.4 Regulation of Firms;60
10;Chapter 3. Private Equity and the IPO Market;62
10.1;3.1 Private Equity Investment;63
10.2;3.2 The IPO Market;69
11;Chapter 4. The Public Equity Market;72
11.1;4.1 Products, Venues, Market Design;72
11.2;4.2 Liquidity;81
11.3;4.3 Derivatives;85
11.4;4.4 Risk and Return;89
11.5;4.5 Role of Indian Equity in Global Portfolios;96
12;Chapter 5. Government Bonds;98
12.1;5.1 Products in the Government Debt Market;98
12.2;5.2 Markets;107
12.3;5.3 Regulation and Market Access;110
12.4;5.4 Elusive Liquidity;111
13;Chapter 6. Corporate Bonds;112
13.1;6.1 The Products;112
13.2;6.2 Markets;123
13.3;6.3 Secondary Market Trading;125
13.4;6.4 Regulation and Next Steps Forward;126
14;Chapter 7. Commodity Futures Markets;130
14.1;7.1 A Little History;130
14.2;7.2 Products in the Commodity Derivatives Markets;132
14.3;7.3 Markets;137
14.4;7.4 Market Outcomes;144
14.5;7.5 Regulation and Legal Framework;146
15;Chapter 8. Real Estate;150
15.1;8.1 Price Trends in Real Estate;150
15.2;8.2 Accuracy of Prices;152
15.3;8.3 Property Development;153
15.4;8.4 Segments of the Overall Real Estate Market;155
15.5;8.5 Investors;163
15.6;8.6 Title and Transparency in Indian Real Estate;165
15.7;8.7 The Sensitive Issue of Corruption;166
15.8;8.8 Conclusion;168
16;Chapter 9. The Rupee;170
16.1;9.1 Market Description;170
16.2;9.2 Going Under the Hood;173
16.3;9.3 A De Facto Pegged Exchange Rate to the US Dollar;174
16.4;9.4 Difficulties of Implementing the Pegged Exchange Rate;175
16.5;9.5 Four Phases in INR/USD Volatility;177
16.6;9.6 Conclusion;180
17;Chapter 10. Financial Firms;182
17.1;10.1 A Bird’s Eye View;182
17.2;10.2 The Nature of the Financial Firm in India;183
17.3;10.3 Infrastructure;184
17.4;10.4 Transaction-Oriented Firms;186
17.5;10.5 Banks;190
17.6;10.6 Insurance Companies;197
17.7;10.7 Pensions;198
17.8;10.8 Mutual Funds;200
17.9;10.9 Foreign Institutional Investors;204
17.10;10.10 Private Equity Funds;205
17.11;10.11 The Fundamental Difficulties of Fund Management;206
18;Chapter 11. Policy Issues;208
18.1;11.1 The State of Indian Finance;208
18.2;11.2 Reform;210
18.3;11.3 The Agenda at SEBI;218
18.4;11.4 Conclusion;229
19;Chapter 12. What Can Global Financial Firms Do with India?;230
19.1;12.1 Portfolio Investment;231
19.2;12.2 Private Equity;232
19.3;12.3 FDI;233
19.4;12.4 The Mauritius Route;233
19.5;12.5 India-Related Financial Business Outside India;233
20;Appendix A. Sources;236
21;Appendix B. Abbreviations;238
22;Appendix C. Interpreting Those Strange Indian Numbers;242
23;Bibliography;244
24;Index;248