Global financial market development

In this regard, Itaipti represents something of an anomaly for its time. Financing was obtained not from multilateral development banks but from global financial markets. While technical studies and consulting reports were done by firms from Europe and the U.S., construction was carried out almost entirely by two consortia. 

The rapid shift to a global gas market is not a certainty. It depends enormously on creating the context in which investors will have confidence to deploy vast sums of financial and intellectual capital it requires finding solutions to the adverse social and political consequences of developing natural resources in countries where governance is weak and it assumes a continued pull from the growing world electricity sector. 

The banking and liquidity crisis of 2007-2009, which led to global recession and the first examples of deflation in developed economies since the Second World War, had a profound effect on financial markets. Its aftermath is an opportune time to update a textbook on fixed-income securities and derivatives, as we can review the impact that the crisis had on the instruments concerned. 

---