Summary of Global Corporate Bond Issuance
What Role for US Quantitative Easing?
The US Federal Reserve’s quantitative easing has helped developing-world companies borrow more cheaply.
What was once heresy is today banality: Now that nearly every central bank either has undertaken or is pursuing quantitative easing (QE), it is probably time to retire the phrase “unconventional monetary policy” to describe it. Marco Lo Duca, Giulio Nicoletti and Ariadna Vidal Martinez, economists at the European Central Bank, show how the brainstorms and experiments of academics and central bankers affect the real world, particularly in the aftermath of the 2008 financial crisis. getAbstract recommends this informative analysis of the Federal Reserve’s QE policies and their effects on corporate bond issuance around the world.
In this summary, you will learn
- How central banks’ quantitative easing (QE) policies affect corporate bond issuance
- Why much more emerging-market debt exists due to US Federal Reserve asset purchases
- Whether other central banks’ QE programs have similar impacts
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Source: IMF eLibrary, 2015