The role of securitisation and credit default swaps in the credit crisis : a South African perspective / White W.

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dc.contributor.author White, Johannes Petrus Lodewikus en_US
dc.date.accessioned 2012-10-23T12:34:10Z
dc.date.available 2012-10-23T12:34:10Z
dc.date.issued 2011 en_US
dc.identifier.uri http://hdl.handle.net/10394/7581
dc.description Thesis (M.Com. (Risk management))--North-West University, Potchefstroom Campus, 2012.
dc.description.abstract The financial crisis that struck financial markets in 2008 was devastating for the global economy. The impact continues to be felt in the market - most recently in sovereign defaults. 1 There are many questions as to the origin of the crisis and how the same events may be prevented in the future. This dissertation explores two financial instruments: securitisation and credit default swaps (CDSs) and attempts to establish the role they played in the financial crisis. To fully understand the events that unfolded before and during the crisis, a sound theoretical understanding of these instruments is required. This understanding is important to discern the future of stable financial markets and to gain insight into some of the potential risks faced by financial markets. The South African perspective regarding securitisation, CDSs and the global financial crisis is an important field of study. The impact of the crisis on South Africa will be explored in this dissertation, as well as, the effect of the crisis on South Africa's securitisation market (which has proved healthy and robust over the first part of the new millennium despite the global slowdown of these instruments) and the CDS market. A key goal of this work is to establish whether or not CDSs have been used in South Africa to hedge the credit risk component of bonds linked to asset–backed securities (ABSs). This will provide an indication of the maturity of the South African credit risk transfer (CRT) market and how South Africa compares to more developed financial markets regarding complexity, regulation, sophistication and market sentiment. Through the exploration and understanding of these concepts, the efficacy of emerging economies to adapt to globalisation, and how welcome financial innovation has proved to be in emerging markets will be addressed. en_US
dc.publisher North-West University
dc.subject Securitisation en_US
dc.subject CDSs en_US
dc.subject Global financial crisis en_US
dc.subject Financial innovation en_US
dc.subject South Africa en_US
dc.subject Sekuritisasie en_US
dc.subject Globale finansiële krisis en_US
dc.subject Finansiële innovasie en_US
dc.subject Suid-Afrika en_US
dc.title The role of securitisation and credit default swaps in the credit crisis : a South African perspective / White W. en_US
dc.type Thesis en_US
dc.description.thesistype Masters en_US

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