Prospects for Securitisation in Transition Economies: The Case of Vietnam
25 Pages Posted: 2 Dec 2009 Last revised: 1 Feb 2010
Date Written: November 30, 2009
Sometimes, missing the boat is a blessing. Unlike a number of other Asian economies, and despite prodding by both industry participants and the international financial institutions, Vietnam did not rush to put in place legislative frameworks to facilitate securitisation. Forgotten in the rush over the last two decades to replicate securitisation structures around the world has been how profoundly rooted they are in the contextual framework of the US economy and its regulatory system. This article looks at the basics of securitisation as it developed in the United States, how securitisation was reinvented elsewhere and investigates some of the experimentation with securitisation in Asia. The article identifies the major considerations important to implementation of securitisation in transition economies, in particular, Vietnam.
Keywords: securitisation, mortgage backed securities, transition economies, Vietnam
JEL Classification: F02, F30, G28, K22, N25, O19
Suggested Citation: Suggested Citation