No doubt in recent past there has been overwhelming use of derivatives in advanced economies but its use in emerging economies has also accelerated, especially after global financial crises. However, derivatives operate under different conditions in emerging markets. In this survey, we have analyzed the literature on derivatives use in emerging economies to see if its role in these economies is any different from that in advanced countries. We have focused on issues that have attracted attention in last four years with respect to use of derivatives such as price discovery, risk management and hedging, price stabilization, market efficiency and market structures.
Keywords
Derivatives, Emerging Economies, Exchanges, Risk, Hedging, Price Discovery.
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