Hedge Funds in Emerging Markets

This book explains the workings of hedge funds, their role in destabilising international finance and their future.

Gordon de Brouwer (Author)

9780521802338, Cambridge University Press

Hardback, published 6 September 2001

242 pages
22.9 x 15.2 x 1.7 cm, 0.53 kg

Review of the hardback: 'The definitive work on hedge funds. Although they are integral parts of today's global markets … a relatively small number of hedge funds,at times, could undermine the integrity of financial markets' Professor Eisuke Sakakibara, Global Security Research Center, Keio University

Hedge funds are among the most innovative and controversial of financial market institutions. Largely exempt from regulation and shrouded in secrecy, they are credited as having improved efficiency and add liquidity to financial markets, but also having severely destabilised markets following the Asian financial crisis and the near collapse of long-term capital management. De Brouwer presents a nuanced and balanced account to what is becoming an increasingly politicised and hysterical discussion of the subject. Part I explains the workings of hedge funds. Part II focuses on the activities of macro hedge funds and proprietary trading desks in East Asia in 1997 and 1998, with case study material from Hong Kong, Indonesia, Malaysia, Singapore, Australia and New Zealand. Part III of the book looks at the future of hedge funds, their role for institutional investors, and policy proposals to limit their destabilising effects.

List of figures
List of tables
Preface
1. The issues
2. What is a hedge fund?
3. Hedge funds and East Asia
4. Hong Kong
5. Indonesia, Malaysia, and Singapore
6. Australia and New Zealand
7. Models of market dynamics
8. Inferring hedge fund positions from returns data
9. Looking forward
References
Index.

Subject Areas: Finance & accounting [KF], Political economy [KCP], International economics [KCL], Economic statistics [KCHS], Regional studies [GTB]