Issues In Capital Market Development

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Asian Capital Market Development and Integration

Author : Asian Development Bank
Publisher : Oxford University Press, USA
ISBN 13 : 9780198099451
Total Pages : 0 pages
Book Rating : 4.0/5 (994 download)

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Book Synopsis Asian Capital Market Development and Integration by : Asian Development Bank

Download or read book Asian Capital Market Development and Integration written by Asian Development Bank and published by Oxford University Press, USA. This book was released on 2014 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The fiscal crisis in Europe continues to cast a shadow on the global economic outlook, and the securities issued by the United States and European nations are losing their status as traditional safe assets and reserve value. As a result, investors and governments are looking to diversify their investment portfolio with emerging markets, particularly Asian bonds. Such renewed interest has led to excessive capital inflows, making the region increasingly vulnerable to external shocks. However, on the other hand, it leads to abundant liquidity in the capital markets, which reduces financing costs and expands investment opportunities. This book analyses this dilemma and proposes that development of local bond markets and achieving greater market depth and interconnectedness is the best bet to prevent the reoccurrence of a currency crisis like 1997. It thus, assesses the progress achieved thus far in capital market integration in Asia, and compares it with its global peers. The study also assesses the degree to which volatility in equity and bond market returns, driven by financial turmoil originating at both the regional and global levels, spills over into emerging Asia domestic equity and bond markets. The results of this analysis indicate that such spill-over significantly impacts both domestic equity and bond markets in the region. This finding suggests that on-going regional capital market integration initiatives should take into account the risk of contagion that regional financial integration presents, and introduce measures for mitigating such risk as a means of ensuring financial stability in the region.

The Development of Local Capital Markets

Author : Mr.Luc Laeven
Publisher : International Monetary Fund
ISBN 13 : 1498372201
Total Pages : 25 pages
Book Rating : 4.4/5 (983 download)

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Book Synopsis The Development of Local Capital Markets by : Mr.Luc Laeven

Download or read book The Development of Local Capital Markets written by Mr.Luc Laeven and published by International Monetary Fund. This book was released on 2014-12-19 with total page 25 pages. Available in PDF, EPUB and Kindle. Book excerpt: Capital markets can improve risk sharing and the efficiency with which capital is allocated to the real economy, boosting economic growth and welfare. However, despite these potential benefits, not all countries have well developed capital markets. Moreover, government-led initiatives to develop local capital markets have had mixed success. This paper reviews the literature on the benefits and costs of developing local capital markets, and describes the challenges faced in the development of such markets. The paper concludes with a set of policy recommendations emerging from this literature.

The Future of Domestic Capital Markets in Developing Countries

Author : Robert E. Litan
Publisher : Rowman & Littlefield
ISBN 13 : 0815796102
Total Pages : 543 pages
Book Rating : 4.8/5 (157 download)

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Book Synopsis The Future of Domestic Capital Markets in Developing Countries by : Robert E. Litan

Download or read book The Future of Domestic Capital Markets in Developing Countries written by Robert E. Litan and published by Rowman & Littlefield. This book was released on 2003-09-05 with total page 543 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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

The Development of Local Capital Markets

Author : Mr.Luc Laeven
Publisher : International Monetary Fund
ISBN 13 : 149837297X
Total Pages : 25 pages
Book Rating : 4.4/5 (983 download)

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Book Synopsis The Development of Local Capital Markets by : Mr.Luc Laeven

Saudi Capital Market

Author : Bader Alkhaldi
Publisher : Kluwer Law International B.V.
ISBN 13 : 9041183523
Total Pages : 322 pages
Book Rating : 4.0/5 (411 download)

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Book Synopsis Saudi Capital Market by : Bader Alkhaldi

Download or read book Saudi Capital Market written by Bader Alkhaldi and published by Kluwer Law International B.V.. This book was released on 2016-11-24 with total page 322 pages. Available in PDF, EPUB and Kindle. Book excerpt: A thriving capital market, one that not only brings investment funds into a country but also distributes profits in a transparent manner, is essential for any economy, especially a rapidly developing one such as Saudi Arabia. Already a key player on the world stage, the Kingdom is going through a major planned economic transformation and diversification. In particular, a robust and transparent capital market, with a high level of integrity and sound enforcement, is well on the way to fruition. This book is the first in English to analyse and evaluate the roles of economic planning and a capital market in Saudi Arabia’s economic modernization. In the process of examining the level of transparency and fairness in Saudi Arabia’s capital market, the author provides detailed information and analysis of such issues and topics as the following: – market disclosure rules; – insider trading laws; – gaps in enforcement; – dispute resolution; – role of securities agencies; – Saudi Arabia’s position in international organizations; and – repercussions of the 2006 Saudi stock market collapse. The author draws on a wide range of sources in both English and Arabic, and concludes with well-grounded proposals for appropriate judicial, administrative, and enforcement policies. Investors, their management and attorneys, and other advisors with an eye on trade development in the Middle East will derive great benefit from the current and detailed information in this book. Lawyers and policymakers will discover all they need to know about the Saudi capital market, its developing trends, and applicable laws.

Global Capital Markets

Author : Maurice Obstfeld
Publisher : Cambridge University Press
ISBN 13 : 9780521671798
Total Pages : 386 pages
Book Rating : 4.6/5 (717 download)

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Book Synopsis Global Capital Markets by : Maurice Obstfeld

Download or read book Global Capital Markets written by Maurice Obstfeld and published by Cambridge University Press. This book was released on 2004 with total page 386 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is an economic survey of international capital mobility from the late nineteenth century to the present.

Stock Markets in Developing Countries

Author : Mansoor Dailami
Publisher : World Bank Publications
ISBN 13 :
Total Pages : 54 pages
Book Rating : 4./5 ( download)

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Book Synopsis Stock Markets in Developing Countries by : Mansoor Dailami

Download or read book Stock Markets in Developing Countries written by Mansoor Dailami and published by World Bank Publications. This book was released on 1990 with total page 54 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

stock market development and long run growth

Author : Ross Levine
Publisher : World Bank Publications
ISBN 13 : 6101919153
Total Pages : 32 pages
Book Rating : 4.1/5 (19 download)

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Book Synopsis stock market development and long run growth by : Ross Levine

Download or read book stock market development and long run growth written by Ross Levine and published by World Bank Publications. This book was released on 1996 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Money and Capital in Economic Development

Author : Ronald I. McKinnon
Publisher : Brookings Institution Press
ISBN 13 : 9780815718499
Total Pages : 204 pages
Book Rating : 4.7/5 (184 download)

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Book Synopsis Money and Capital in Economic Development by : Ronald I. McKinnon

Download or read book Money and Capital in Economic Development written by Ronald I. McKinnon and published by Brookings Institution Press. This book was released on 2010-12-01 with total page 204 pages. Available in PDF, EPUB and Kindle. Book excerpt: This books presents a theory of economic development very different from the "stages of growth" hypothesis or strategies emphasizing foreign aid, trade, or regional association. Leaving these aside, the author breaks new ground by focusing on the use of domestic capital markets to stimulate economic performance. He suggests a "bootstrap" approach in which successful development would depend largely on policy choices made by national authorities in the developing countries themselves. Central to his theory is the freeing of domestic financial markets to allow interest rates to reflect the true scarcity of capital in a developing economy. His analysis leads to a critique of prevailing monetary theory and to a new view of the relation between money and physical capital—a view with policy implications for governments striving to overcome the vicious circle of inflation and stagnation. Examining the performance of South Korea, Taiwan, Brazil, and other countries, the author suggests that their success or failure has depended primarily on steps taken in the monetary sector. He concludes that monetary reform should take precedence over other development measures, such as tariff and tax reform or the encouragement of foreign capital investment. In addition to challenging much of the conventional wisdom of development, the author's revision of accepted monetary theory may be relevant for mature economies that face monetary problems.

Aging and the Macroeconomy

Author : National Research Council
Publisher : National Academies Press
ISBN 13 : 0309261961
Total Pages : 230 pages
Book Rating : 4.3/5 (92 download)

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Book Synopsis Aging and the Macroeconomy by : National Research Council

Download or read book Aging and the Macroeconomy written by National Research Council and published by National Academies Press. This book was released on 2013-01-10 with total page 230 pages. Available in PDF, EPUB and Kindle. Book excerpt: The United States is in the midst of a major demographic shift. In the coming decades, people aged 65 and over will make up an increasingly large percentage of the population: The ratio of people aged 65+ to people aged 20-64 will rise by 80%. This shift is happening for two reasons: people are living longer, and many couples are choosing to have fewer children and to have those children somewhat later in life. The resulting demographic shift will present the nation with economic challenges, both to absorb the costs and to leverage the benefits of an aging population. Aging and the Macroeconomy: Long-Term Implications of an Older Population presents the fundamental factors driving the aging of the U.S. population, as well as its societal implications and likely long-term macroeconomic effects in a global context. The report finds that, while population aging does not pose an insurmountable challenge to the nation, it is imperative that sensible policies are implemented soon to allow companies and households to respond. It offers four practical approaches for preparing resources to support the future consumption of households and for adapting to the new economic landscape.

African Capital Markets: Challenges and Opportunities

Author : Heidi Raubenheimer
Publisher : CFA Institute Research Foundation
ISBN 13 : 1944960880
Total Pages : 126 pages
Book Rating : 4.9/5 (449 download)

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Book Synopsis African Capital Markets: Challenges and Opportunities by : Heidi Raubenheimer

Download or read book African Capital Markets: Challenges and Opportunities written by Heidi Raubenheimer and published by CFA Institute Research Foundation. This book was released on 2019-11-21 with total page 126 pages. Available in PDF, EPUB and Kindle. Book excerpt: Africa encompasses a wide range of market conditions, from rapidly emerging economies to countries with a long history with financial markets. Produced in partnership with the African Securities Exchanges Association, this collection of essays includes the perspectives of authors in local markets who provide their analysis of the history, current developments, and future outlook for South Africa, Nigeria, Mauritius, Ghana, Zimbabwe, Morocco, Egypt, Botswana, and East Africa. For prospective investors, the book provides valuable insights on how changing regulation, evolving financial technology, and expanding investor access are transforming local markets on the continent.

Brazil’s Capital Market

Author : Mr.Joonkyu Park
Publisher : International Monetary Fund
ISBN 13 : 147551025X
Total Pages : 21 pages
Book Rating : 4.4/5 (755 download)

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Book Synopsis Brazil’s Capital Market by : Mr.Joonkyu Park

Download or read book Brazil’s Capital Market written by Mr.Joonkyu Park and published by International Monetary Fund. This book was released on 2012-09-01 with total page 21 pages. Available in PDF, EPUB and Kindle. Book excerpt: Capital market development in Brazil is a key policy issue going forward to foster savings, investment and absorptive capacity in a context of prospects for sizable capital flows in the medium term. During the last decade, Brazil has achieved substantial progress in capital market development. The menu of available financial instruments has been expanded, market infrastructure has been reformed and strengthened, and a diversified investor base has been built. Nonetheless, Brazil’s capital markets are still facing a number of challenges including prevalent short-term indexation, investors’ risk aversion to long-term fixed rate bonds, still low liquidity in the secondary market, and managing the role of BNDES. A shift to a lower yield curve environment should continue to gradually take place. But further progress will require continued policy effort to assure macro stability and financial sector reforms to promote the development of longer-term private finance.

Bond Market Development in Asia

Author : OECD
Publisher : OECD Publishing
ISBN 13 : 9264192220
Total Pages : 452 pages
Book Rating : 4.2/5 (641 download)

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Book Synopsis Bond Market Development in Asia by : OECD

Download or read book Bond Market Development in Asia written by OECD and published by OECD Publishing. This book was released on 2001-03-30 with total page 452 pages. Available in PDF, EPUB and Kindle. Book excerpt: This conference proceedings of the second "Round Table on Capital Market Reforms in Asia" held in Tokyo in April 2000, which was organised by the OECD and the Asian Development Bank Institute (ADBI), focused on bond market development in Asia.

Capital Markets, Globalization, and Economic Development

Author : Benton E. Gup
Publisher : Springer Science & Business Media
ISBN 13 : 0387245634
Total Pages : 226 pages
Book Rating : 4.3/5 (872 download)

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Book Synopsis Capital Markets, Globalization, and Economic Development by : Benton E. Gup

Download or read book Capital Markets, Globalization, and Economic Development written by Benton E. Gup and published by Springer Science & Business Media. This book was released on 2006-07-20 with total page 226 pages. Available in PDF, EPUB and Kindle. Book excerpt: Capital Markets, Globalization, and Economic Development consists of fourteen articles contributed by authors from Australia, Asia, Europe, South America, and the United States who provide a wide range of insights. The contributors include academics, government officials, and regulators. This book examines some of the capital market issues that economies face as they mature. These include, but are not limited to, credit ratings, financial regulation, infrastructure privatization and other timely topics.

Focus on Capital

Author : Kenroy Dowers
Publisher : IDB
ISBN 13 : 9781931003490
Total Pages : 572 pages
Book Rating : 4.0/5 (34 download)

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Book Synopsis Focus on Capital by : Kenroy Dowers

Download or read book Focus on Capital written by Kenroy Dowers and published by IDB. This book was released on 2003 with total page 572 pages. Available in PDF, EPUB and Kindle. Book excerpt: Local capital market development responds to the need to reduce the risk of financial crises that result from an excessive reliance on external borrowing -- for example, to avoid foreign exchange risk, reduce contagion, and decrease short-term external borrowing. In fact, as financial crises dwarf the role of financial intermediation, the problems of asymmetric information become even more severe, leading to greater public mistrust of financial institutions. The contributors in Focus on Capital tackle various aspects of developing Latin American capital markets. Macroeconomic and structural policies, accounting practices and standards, bond market development, market infrastructure, derivatives markets, corporate governance, ethics, human capital, and regional integration all play a role. One of the shortcomings of many strategies for capital market development -- more important than getting the sequencing wrong -- is failing to understand the links between the various components and the need for an overall strategy as well as plans for each component. Focus on Capital analyzes the status of the markets in Latin America and identifies the technical, political, and financial challenges to building vibrant capital markets and increasing the efficiency benefits of regional economic and financial integration.

Issues in Capital Market Development

Author :
Publisher :
ISBN 13 :
Total Pages : 92 pages
Book Rating : 4.F/5 ( download)

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Book Synopsis Issues in Capital Market Development by :

Download or read book Issues in Capital Market Development written by and published by . This book was released on 1997 with total page 92 pages. Available in PDF, EPUB and Kindle. Book excerpt:

The Integration of World Capital Markets

Author : Mr.Michael Mussa
Publisher : International Monetary Fund
ISBN 13 : 145195039X
Total Pages : 66 pages
Book Rating : 4.4/5 (519 download)

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Book Synopsis The Integration of World Capital Markets by : Mr.Michael Mussa

Download or read book The Integration of World Capital Markets written by Mr.Michael Mussa and published by International Monetary Fund. This book was released on 1993-12-01 with total page 66 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.