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BANKING ON OPPORTUNITY: A SCAN OF THE EVOLVING FIELD OF BANK ON INITIATIVES

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This report covers in considerable detail the legal as well as institutional struc- tures of the Serbian bond market, and compares these to the evolution of the recent- ly developed bond markets in the Czech Republic, Hungary, Poland, and Slovakia. The core of the study is a technical section on the estimation of the bond yield curve in Serbia using the Nelson-Siegel Model, followed by an illustration of how parame- ter estimates can be utilized to forecast the term structure. This analysis was con- strained by limited data availability on the over-the-counter market. About 80% of overall trading volume takes place over-the-counter but prices are only reported...
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BANKING ON OPPORTUNITY: A SCAN OF THE EVOLVING FIELD OF BANK ON INITIATIVES

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