Securitization : a platform for organic economic growth in emerging markets : authored
Thesis (S.M.)--Massachusetts Institute of Technology, Sloan School of Management, 2004.
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| Format: | Thesis |
| Language: | eng |
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Massachusetts Institute of Technology
2005
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| Online Access: | http://hdl.handle.net/1721.1/17905 |
| _version_ | 1811096349540614144 |
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| author | Macon, Lance P. (Lance Perry), 1971- |
| author2 | Roberto Rigobon. |
| author_facet | Roberto Rigobon. Macon, Lance P. (Lance Perry), 1971- |
| author_sort | Macon, Lance P. (Lance Perry), 1971- |
| collection | MIT |
| description | Thesis (S.M.)--Massachusetts Institute of Technology, Sloan School of Management, 2004. |
| first_indexed | 2024-09-23T16:42:26Z |
| format | Thesis |
| id | mit-1721.1/17905 |
| institution | Massachusetts Institute of Technology |
| language | eng |
| last_indexed | 2024-09-23T16:42:26Z |
| publishDate | 2005 |
| publisher | Massachusetts Institute of Technology |
| record_format | dspace |
| spelling | mit-1721.1/179052019-04-11T09:25:44Z Securitization : a platform for organic economic growth in emerging markets : authored Macon, Lance P. (Lance Perry), 1971- Roberto Rigobon. Sloan School of Management. Sloan School of Management. Sloan School of Management. Thesis (S.M.)--Massachusetts Institute of Technology, Sloan School of Management, 2004. Includes bibliographical references (leaf 53). One of the keys to building a solid economy is the existence of a long term debt market. Long term borrowing is crucial for personal home ownership, the creation of critical infrastructure, and the development of major real estate projects. Most emerging market economies do not have a long term debt market due to numerous factors including political instability, hyper-inflation, and low perceived credit quality. In the light of lending debacles in countries like Argentina and Venezuela, investors tend to punish banks who seek to lend in emerging market economies. For these reasons and more, many lending institutions shy away from lending on a long term basis in these regions. The perceived risk far outweighs the prospect of high returns. The resultant lack of a long term debt market leads to a stagnant or declining economy. Borrowing on a local level too is very difficult as it is cost prohibitive and the prospect of currency risk makes long term lending almost impossible even on a local level. One of the mechanisms used to "spread the risk" of long term debt is the securitization market. This thesis is structured to look at some of the benefits and externalities of securitization as well as look at how a securitization discipline could fit in an emerging markets quest for growth and stability. Additionally, the thesis will identify several reasons why securitization is not commonplace in most emerging markets and identify potential remedies so that securitization can be managed. Finally, this thesis will suggest ways that multilateral agencies and other would-be lenders can help emerging nations succeed without having the massive overhang of costly debt. by Lance P. Macon. S.M. 2005-06-02T19:07:54Z 2005-06-02T19:07:54Z 2004 2004 Thesis http://hdl.handle.net/1721.1/17905 56676150 eng M.I.T. theses are protected by copyright. They may be viewed from this source for any purpose, but reproduction or distribution in any format is prohibited without written permission. See provided URL for inquiries about permission. http://dspace.mit.edu/handle/1721.1/7582 56 leaves 2432505 bytes 2432312 bytes application/pdf application/pdf application/pdf Massachusetts Institute of Technology |
| spellingShingle | Sloan School of Management. Macon, Lance P. (Lance Perry), 1971- Securitization : a platform for organic economic growth in emerging markets : authored |
| title | Securitization : a platform for organic economic growth in emerging markets : authored |
| title_full | Securitization : a platform for organic economic growth in emerging markets : authored |
| title_fullStr | Securitization : a platform for organic economic growth in emerging markets : authored |
| title_full_unstemmed | Securitization : a platform for organic economic growth in emerging markets : authored |
| title_short | Securitization : a platform for organic economic growth in emerging markets : authored |
| title_sort | securitization a platform for organic economic growth in emerging markets authored |
| topic | Sloan School of Management. |
| url | http://hdl.handle.net/1721.1/17905 |
| work_keys_str_mv | AT maconlanceplanceperry1971 securitizationaplatformfororganiceconomicgrowthinemergingmarketsauthored |