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Hedge Funds and Financial Market Dynamics

Bankim Chadha, Laura Kodres, Donald Mathieson, Sunil Sharma (), Barry Eichengreen () and Anne Jansen

No 1998/009, IMF Occasional Papers from International Monetary Fund

Abstract: Hedge funds are collective investment vehicles, often organized as private partnerships and resident offshore for tax and regulatory purposes. Their legal status places few restrictions on their portfolios and transactions, leaving their managers free to use short sales, derivative securities, and leverage to raise returns and cushion risk. This paper considers the role of hedge funds in financial market dynamics, with particular reference to the Asian crisis.

Keywords: OP; hedge fund manager; hedge fund operation; investment vehicle; market; market transparency; market integrity; role of hedge funds; Hedge funds; Mutual funds; Securities; Stocks; Arbitrage; Global; Eastern Europe; Caribbean; East Asia; Southeast Asia (search for similar items in EconPapers)
Pages: 80
Date: 1998-05-15
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Handle: RePEc:imf:imfops:1998/009