The Future Of Domestic Capital Markets In Developing Countries PDF Download

Are you looking for read ebook online? Search for your book and save it on your Kindle device, PC, phones or tablets. Download The Future Of Domestic Capital Markets In Developing Countries PDF full book. Access full book title The Future Of Domestic Capital Markets In Developing Countries.

The Future of Domestic Capital Markets in Developing Countries

The Future of Domestic Capital Markets in Developing Countries
Author: Robert E. Litan
Publisher: Rowman & Littlefield
Total Pages: 548
Release: 2003-09-05
Genre: Business & Economics
ISBN: 9780815796107
GET BOOK

Download The Future of Domestic Capital Markets in Developing Countries Book in PDF, ePub and Kindle

The Future of Domestic Capital Markets in Developing Countries addresses the challenges that countries face as they develop and strengthen capital markets. Based on input from the world's most prominent capital market experts and leading policymakers in developing countries, this volume represents the latest thinking in capital market development. It captures the views of a global gathering of experts, with perspectives from developing and developed countries, from all regions of the world, from the public and private sector. This volume should be of interest to senior financial sector policymakers from developed and developing countries in securities and exchange commissions, regulators, central banks, ministries of finance, and monetary authorities; private sector executives in stock exchanges, bond markets, venture capital markets, and investment funds; and researchers and academicians with an interest in capital market development in emerging markets. What are the key factors threatening the development and survival of stock exchanges in developing countries? What domestic strategies are needed to protect the future of local markets? Should exchanges consider linkages or alliances? Merging with, or buying up, other exchanges? Demutualization? The volume provides practical guidance on strategies such as nurturing issuers, improving rules and institutions, addressing regulatory challenges, and sequencing reforms. The contributors address a variety of country experiences, and suggest steps that policymakers and practitioners in emerging markets can take to promote an orderly transition toward efficient, well-regulated, and accessible capital markets. Contributors include Reena Aggarwal (Georgetown University), Alexander S. Berg (World Bank), Alan Cameron (Sydney Futures Exchange), Olivier Fremond (PSACG), Amar Gill (Credit Lyonnais Securities Asia), Gerd Hausler (IMF), Jack Glen (International Finance Corporation), Peter Blair Henry (Stanf

Emerging Capital Markets and Globalization

Emerging Capital Markets and Globalization
Author: Augusto de la Torre
Publisher: World Bank Publications
Total Pages: 232
Release: 2006-10-20
Genre: Business & Economics
ISBN: 0821365444
GET BOOK

Download Emerging Capital Markets and Globalization Book in PDF, ePub and Kindle

Back in the early 1990s, economists and policy makers had high expectations about the prospects for domestic capital market development in emerging economies, particularly in Latin America. Unfortunately, they are now faced with disheartening results. Stock and bond markets remain illiquid and segmented. Debt is concentrated at the short end of the maturity spectrum and denominated in foreign currency, exposing countries to maturity and currency risk. Capital markets in Latin America look particularly underdeveloped when considering the many efforts undertaken to improve the macroeconomic environment and to reform the institutions believed to foster capital market development. The disappointing performance has made conventional policy recommendations questionable, at best. 'Emerging Capital Markets and Globalization' analyzes where we stand and where we are heading on capital market development. First, it takes stock of the state and evolution of Latin American capital markets and related reforms over time and relative to other countries. Second, it analyzes the factors related to the development of capital markets, with particular interest on measuring the impact of reforms. And third, in light of this analysis, it discusses the prospects for capital market development in Latin America and emerging economies and the implications for the reform agenda.

The Integration of World Capital Markets

The Integration of World Capital Markets
Author: Mr.Michael Mussa
Publisher: International Monetary Fund
Total Pages: 66
Release: 1993-12-01
Genre: Business & Economics
ISBN: 145195039X
GET BOOK

Download The Integration of World Capital Markets Book in PDF, ePub and Kindle

This paper discusses the extent to which national capital markets have become linked, and identifies several of the more important consequences of that increased degree of integration. Alternative approaches to the measurement of capital market integration are reviewed, including deviations from the law of one price, differences between actual and optimally diversified portfolios, correlations between domestic investment and domestic saving, and cross-country links in consumption behavior. Two recent episodes of large-scale international capital flows—namely, the turmoil in the European Monetary System in the fall of 1992, and the surge of capital inflows into Latin America during the last three years—are examined for insights into the workings of today’s global capital market. Finally, the paper offers some concluding remarks on the future development of international capital markets, on exchange rate management, on alternative approaches to living with larger and more influential financial markets, and on the financing of investment in the formerly centrally planned economies.

Creating Domestic Capital Markets in Developing Countries

Creating Domestic Capital Markets in Developing Countries
Author: Dimitrios G. Demekas
Publisher:
Total Pages:
Release: 2020
Genre:
ISBN:
GET BOOK

Download Creating Domestic Capital Markets in Developing Countries Book in PDF, ePub and Kindle

Domestic capital markets that are deep, efficient, and well-regulated can create access to long-term, local-currency finance. Interviews with market participants reveal four important findings. First, there are two distinct phases of capital market development, an embryonic phase in which the government is predominant and a mature phase in which the capital market starts to serve the private sector. Each phase has distinct preconditions and drivers that determine the success of capital market development. Second, capital market development requires continuous monitoring and policy interventions due to changing market stages, some of them stable but suboptimal. Third, while capital markets are a crucial source of large volume, long-term local currency finance, they often fail smaller countries and companies. Finally, as the capital market develops, intangible or 'soft' factors become more important, including financial sophistication, a culture of trading and risk-taking, the quality of human capital, and an appreciation of transparency.

Short-Term Capital Flows and Economic Crises

Short-Term Capital Flows and Economic Crises
Author: Stephany Griffith-Jones
Publisher: OUP Oxford
Total Pages: 325
Release: 2001-02-01
Genre: Business & Economics
ISBN: 0191589144
GET BOOK

Download Short-Term Capital Flows and Economic Crises Book in PDF, ePub and Kindle

The currency crises that engulfed East Asian economies in 1997 and Mexico in 1994 - and their high development costs - raise a serious concern about the net benefits for developing countries of large flows of potentially reversible short-term international capital. Written by senior policy-makers and academics, the contributions to this volume examine in depth the macroeconomic and other policy dilemmas confronting public authorities in the emerging economies as they deal with short-term capital movements, especially in the period before the outbreak of these crises. The studies are based on comparative case studies of key emerging economies. Valuable insights are also derived from contrasts between the East Asian, Latin American, African, and European experiences, between the financial and real effects of financial flows, and between private and public responsibilities in managing financial markets. The great value of the chapters in this volume is that they analytically identify the weaknesses in both domestic and international capital market regimes. The recommendations derived from this analysis apply to the development of financial markets in developing countries, the monitoring and regulation of mutual funds in source countries, and the future development of international capital markets. They will make an important contribution both to the discussion of national policies and of a new international financial architechture.

Primary Securities Markets

Primary Securities Markets
Author: Anthony H. Aylward
Publisher: World Bank Publications
Total Pages: 54
Release: 1999-01-01
Genre: Business & Economics
ISBN: 9780821345221
GET BOOK

Download Primary Securities Markets Book in PDF, ePub and Kindle

IFC Discussion Paper No. 39.During the period 1980-95, the level of activity increased dramatically for funds raised domestically via issues of debt and equity securities in public capital markets in 32 countries. There were also substantial differences in the level of activity across markets and countries. This paper examines aggregate domestic primary capital market activity in a cross section of countries, including 24 emerging markets. It defines exactly how important a role financial markets have played in raising capital for investment.In this pioneering work, the authors compile aggregate data on primary market activity for a recent period of time, which allows them to quantify the size of the markets and how they have evolved over time. Through their analysis, the authors document the rapidly increasing importance of primary capital markets in many developing countries, where, relative to GDP, these markets now source as much private capital as their developed country counterpart.

Open Doors

Open Doors
Author: Robert E. Litan
Publisher: Rowman & Littlefield
Total Pages: 452
Release: 2004-05-13
Genre: Business & Economics
ISBN: 9780815798132
GET BOOK

Download Open Doors Book in PDF, ePub and Kindle

A Brookings Institution Press, the World Bank, and the International Monetary Fund publication The extensive reforms and liberalization of financial services in emerging markets worldwide call for cutting-edge strategies to capture the benefits of new investment opportunities. In Open Doors, a volume of papers from the third annual Financial Markets and Development conference, multidisciplinary financial sector experts analyze current economic and political trends and prescribe practical advice to the financial development community. The book addresses the key issues of concern regarding the emerging markets, including the trends, motivations, and scope of FDI in finance; policy options that will best capture the opportunities of foreign entry; and the role of foreign institutions in e-finance innovation. The authors focus on specific topics such as foreign participation in emerging market banking systems and securities industries, WTO policies and enforcement, the role of foreign banks, liberalization of insurance markets, the need for capital markets, and the policy, regulatory, and legal issues associated with e-finance. For policymakers and financial practitioners affected by the WTO's Financial Services Agreement, this timely book should be of particular interest. Contributors include Donald Mathieson (International Money Fund), Pierre Sauvé (Trade Directorate, OECD), George J. Vojta (formerly with Bankers Trust and Citibank), Harold D. Skipper (J. Mack Robinson College of Business, Georgia State University), Benn Steil (Council on Foreign Relations), Morris Goldstein and Edward M. Graham (Institute for International Economics), Nicolas Lardy (Brookings Institution), Phillip Turner (Bank of International Settlements), and Robert Ledig (Fried, Frank, Shriver & Jacobson).

Stock Markets in Developing Countries

Stock Markets in Developing Countries
Author: Mansoor Dailami
Publisher: World Bank Publications
Total Pages: 54
Release: 1990
Genre: Capital market
ISBN:
GET BOOK

Download Stock Markets in Developing Countries Book in PDF, ePub and Kindle

With foreign capital funds dwindling, governments in many developing countries-- with increased Bank support-- are looking to develop capital markets to provide risk capital for the corporate sector. But first, some basic issues must be empirically explored.

International Capital Markets

International Capital Markets
Author: John Eatwell
Publisher: Oxford University Press
Total Pages: 493
Release: 2002-04-18
Genre: Business & Economics
ISBN: 0195349016
GET BOOK

Download International Capital Markets Book in PDF, ePub and Kindle

These papers provide a cutting-edge overview of general issues regarding world capital markets, experience in developing countries, and capital market regulation, which many economists believe could turn into the number one topic in international business and economics.