Equity Market Development In Developing Countries
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Author | : Bryan L. Sudweeks |
Publisher | : Praeger |
Total Pages | : 224 |
Release | : 1989-05-15 |
Genre | : Business & Economics |
ISBN | : |
This book argues that the development of equity market is a crucial in the construction of a viable financial system for many developing countries. Drawing upon the Emerging Markets Database of the International Finance Corporation (World Bank) and analyzing a wide range of previously unavailable data, Sudweeks identifies the factors conducive to equity market development, and why these markets may be of interest to international portfolio managers. The book is written in non-technical language and brings together for the first time a variety of different views and experience in equity market development from the private, public, and academic sectors. Following a general introduction, Sudweeks addresses the theory behind the development of equity markets. Separate chapters discuss the benefits and costs of equity markets in developing countries, the general conditions for equity market development, measures to develop the supply and demand of shares, and portfolio implications of investing in developing countries. Three case studies examine equity market development in Brazil, India, and Korea to determine which factors have had an impact on market development. Sudweeks concludes that equity market development must be part of an overall financial development program, that equity market development is a complex, but somewhat predictable activity, and that successful equity market development requires a long-term commitment on the part of governments and key players.
Author | : Mansoor Dailami |
Publisher | : World Bank Publications |
Total Pages | : 54 |
Release | : 1990 |
Genre | : Capital market |
ISBN | : |
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.
Author | : Robert E. Litan |
Publisher | : Rowman & Littlefield |
Total Pages | : 548 |
Release | : 2003-09-05 |
Genre | : Business & Economics |
ISBN | : 9780815796107 |
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
Author | : Dong He |
Publisher | : World Bank Publications |
Total Pages | : 45 |
Release | : 1993 |
Genre | : Mercado de valores - Paises en desarrollo |
ISBN | : |
Author | : Bryan Lorin Sudweeks |
Publisher | : |
Total Pages | : 476 |
Release | : 1987 |
Genre | : Capital market |
ISBN | : |
Author | : Steve H. Hanke |
Publisher | : |
Total Pages | : 416 |
Release | : 1991 |
Genre | : Business & Economics |
ISBN | : |
Author | : Charles Amo Yartey |
Publisher | : International Monetary Fund |
Total Pages | : 38 |
Release | : 2008-02 |
Genre | : Business & Economics |
ISBN | : |
This paper examines the institutional and macroeconomic determinants of stock market development using a panel data of 42 emerging economies for the period 1990 to 2004. The paper finds that macroeconomic factors such as income level, gross domestic investment, banking sector development, private capital flows, and stock market liquidity are important determinants of stock market development in emerging market countries. The results also show that political risk, law and order, and bureaucratic quality are important determinants of stock market development because they enhance the viability of external finance. This result suggests that the resolution of political risk can be an important factor in the development of emerging stock markets. The analysis also shows the factors identified above as determining stock market development in emerging economies can also explain the development of the stock market in South Africa.
Author | : Aslı Demirgüç-Kunt |
Publisher | : World Bank Publications |
Total Pages | : 48 |
Release | : 1995 |
Genre | : Banks and banking |
ISBN | : |
Author | : Aslı Demirgüç-Kunt |
Publisher | : World Bank Publications |
Total Pages | : 39 |
Release | : 1993 |
Genre | : Capital market |
ISBN | : |
The relationship between the development of stock markets and the functioning of financial intermediaries may be complementary.
Author | : Mr.Robert Alan Feldman |
Publisher | : International Monetary Fund |
Total Pages | : 34 |
Release | : 1994-03-01 |
Genre | : Business & Economics |
ISBN | : 1451971214 |
Since the mid-1980s, there has been a very substantial increase in stock market activity in many developing countries. This paper first examines the main characteristics of the emerging stock markets, and illustrates the evolution of equity prices in these markets over the last decade. It then discusses the reasons for the markets’ growth and assesses the extent to which domestic policies, as well as external factors, have played a role. This is followed by a discussion of the likely benefits of these markets; the effects which any abrupt correction in stock prices could have for the economy; and the ways in which these markets can be made more efficient.