摘要
In many emerging market countries, banks and nonfinancial firms usually face a shortage of long-term funding.This exposes them to cash flow and liquidity problems,which may constrain the conduct of monetary policy.The development of longer-term securities markets eases these constraints by lengthening the average maturity of financial instruments in the economy.
出处
《金融信息参考》
2005年第7期55-55,共1页
Financial Digest
