While there is no doubt that securitisation contributed to the 2007-9 global financial crisis
(GFC), it remains a very viable and flexible financing tool especially for developing and
emerging markets. Focusing on the BRICS (Brazil, Russia, India, China and South Africa),
this paper examines the issues, challenges and prospects of securitisation in these
economies. Although the challenges such as the need for more robust and effective
regulation, limited size and development of their financial markets remain, we argue that …