The Puzzle of a Unique Instrument in Emerging Markets of South Asia

Hammad Siddiqi ()

MPRA Paper from University Library of Munich, Germany

Abstract: A unique instrument has been associated with emerging markets of India and Pakistan. We show that the instrument can be considered a market response to the information gaps in these markets. The instrument may credibly transmit information and may eliminate information gaps. Hence, the birth of the instrument is, perhaps, an example of a creative market response to information problems.

Keywords: Information Asymmetry; Information Transmission; Emerging Markets; Perfect Bayesian Equilibria; Badla Finance (search for similar items in EconPapers)
JEL-codes: D00 D82 G0 (search for similar items in EconPapers)
Date: 2009-12
New Economics Papers: this item is included in nep-cta and nep-cwa
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