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

Abstract

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

Jordan, Cally E., Prospects for Securitisation in Transition Economies: The Case of Vietnam (November 30, 2009). U of Melbourne Legal Studies Research Paper No. 446. Available at SSRN: https://ssrn.com/abstract=1516092 or http://dx.doi.org/10.2139/ssrn.1516092

Cally E. Jordan (Contact Author)

Melbourne Law School ( email )

University Square
185 Pelham Street, Carlton
Victoria, Victoria 3010
Australia

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