Primary Securities Markets In Emerging Nations
DOWNLOAD
Download Primary Securities Markets In Emerging Nations PDF/ePub or read online books in Mobi eBooks. Click Download or Read Online button to get Primary Securities Markets In Emerging Nations book now. This website allows unlimited access to, at the time of writing, more than 1.5 million titles, including hundreds of thousands of titles in various foreign languages. If the content not found or just blank you must refresh this page
Primary Securities Markets In Emerging Nations
DOWNLOAD
Author : Ananth Madhavan
language : en
Publisher:
Release Date : 1999
Primary Securities Markets In Emerging Nations written by Ananth Madhavan and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1999 with categories.
Primary capital markets involve the exchange of cash for claims against the issuers, either in the form of equity or debt, or some other derivative instrument. These markets are of great importance to both investors and issuers, especially in emerging markets where capital is scarce relative to investment needs. Yet, because of the lack of data on primary markets previous research has largely focused on secondary markets where pre-existing securities trade. This paper extends our knowledge of primary markets in two ways. First, we use new data on primary market activity for both developed and emerging markets to provide a quot;macroquot; overview of the role played by these markets. Second, we provide an in-depth, quot;microquot; examination of the institutional factors affecting emerging primary markets in Peru. The combined micro- and macro-views yield new perspectives on primary markets. In particular, these markets are complex and involve many market-specific aspects that are not readily apparent. These include, among others, the legal and regulatory framework, the nature of the institutional investor community, the tax regime, and the competitiveness of the investment-banking network. Recognition of these factors is critical to understanding the functioning of these markets and the role they perform in capital formation. The analysis suggests several important policy implications.
Primary Securities Markets
DOWNLOAD
Author : Anthony H. Aylward
language : en
Publisher: World Bank Publications
Release Date : 1999-01-01
Primary Securities Markets written by Anthony H. Aylward and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 1999-01-01 with Business & Economics categories.
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.
The Future Of Domestic Capital Markets In Developing Countries
DOWNLOAD
Author : Robert E. Litan
language : en
Publisher: Rowman & Littlefield
Release Date : 2003-09-05
The Future Of Domestic Capital Markets In Developing Countries written by Robert E. Litan and has been published by Rowman & Littlefield this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003-09-05 with Business & Economics categories.
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
Capital Market Development In Transition Economies Country Experiences And Policies For The Future
DOWNLOAD
Author : OECD
language : en
Publisher: OECD Publishing
Release Date : 1998-10-06
Capital Market Development In Transition Economies Country Experiences And Policies For The Future written by OECD and has been published by OECD Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 1998-10-06 with categories.
The book, the first time, critically evaluates the evolution of both equity and securities markets in transition economies.
Promoting Access To Primary Equity Markets
DOWNLOAD
Author : Felice Betsy Friedman
language : en
Publisher:
Release Date : 2006
Promoting Access To Primary Equity Markets written by Felice Betsy Friedman and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006 with Capital market categories.
"This paper examines legal and regulatory measures that can be taken to promote access to the primary market in emerging market economies. While capital market development depends on many factors including, primarily, a favorable macroeconomic environment, an appropriately designed and effective legal and regulatory framework can help to encourage market growth and to increase access to finance for all companies, including small- and medium-sized enterprises. In this paper we identify the basic necessities that underpin a regulatory regime that is cost effective and strikes an appropriate balance between, on the one hand, laws and regulations that may be too restrictive to achieve a supply of capital and, on the other, those that may be so relaxed that investors feel that there is an unacceptable level of risk and do not care to venture into the market. We explore the legal foundations for the successful operation of a primary market for securities and identify disclosure and effective monitoring and enforcement as essential elements of legal protection. We then examine different legal and regulatory approaches for improving access to finance. We discuss measures that can be used by traditional stock exchanges to attract smaller enterprises to their lists as well as recent initiatives to create second boards or divide the main board into different market segments. We also discuss different mechanisms for companies to raise funds outside of a formal stock market listing, including private placements and private equity. Finally, we propose some recommendations for a simple legal and regulatory framework that will help promote access to primary equity markets, via both the traditional exchange as well as other alternatives. "--World Bank web site.
The Politics Of Equity Finance In Emerging Markets
DOWNLOAD
Author : Kathryn C. Lavelle
language : en
Publisher: Oxford University Press
Release Date : 2004-10-14
The Politics Of Equity Finance In Emerging Markets written by Kathryn C. Lavelle and has been published by Oxford University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004-10-14 with Business & Economics categories.
Emerging market stock issuance relative to GDP rose in the late twentieth century to levels that roughly matched that of advanced, industrial markets. Nonetheless, the connection between owning shares of emerging market stock and the ability to influence the management of these firms remains fundamentally different from the analogous institutional connection that has evolved in industrial markets. The reasons for the differences in emerging markets are both historical and political in nature. That is, local equity markets have had the objective of providing for some degree of local ownership and control of large economic entities since the late nineteenth century. However, local markets have operated under different global political structures since that time, ranging from imperialism, to world wars, to sovereign developmental states, to neo-liberal states. Shares issued under these different structures have been reconfigured over time, resulting in a lack of convergence along either the Anglo-American or Continental models of corporate governance. The author uses a political science paradigm to explain the growth of emerging equity markets. She departs from conventional economic explanations and examines politics at the micro-level of large issues of emerging market stock. The second half of the book presents case studies dealing with emerging market countries in Latin America, Asia, Russia and Eastern Europe, Africa and the Middle East. The case studies connect the regional, state, and firm levels to detail the multiple ownership and control arrangements, and to dispel the notion that mere quantitative growth of these markets will lead to a convergence in financial institutional structures along the lines of the industrial core of the world economy.
Emerging Bond Markets In The Dynamic Asian Economies
DOWNLOAD
Author : Organisation for Economic Co-operation and Development
language : en
Publisher: OECD
Release Date : 1993
Emerging Bond Markets In The Dynamic Asian Economies written by Organisation for Economic Co-operation and Development and has been published by OECD this book supported file pdf, txt, epub, kindle and other format this book has been release on 1993 with Business & Economics categories.
Provides a detailed survey of a largely unexplored territory - the bond markets in the Dynamic Asian Economies of Hong Kong, Korea, Malaysia, Singapore, Taiwan and Thailand.
Stock Markets In Developing Countries
DOWNLOAD
Author : Mansoor Dailami
language : en
Publisher: World Bank Publications
Release Date : 1990
Stock Markets In Developing Countries written by Mansoor Dailami and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 1990 with Capital market categories.
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.
Financial Market Regulation And Reforms In Emerging Markets
DOWNLOAD
Author : Masahiro Kawai
language : en
Publisher: Brookings Institution Press
Release Date : 2011
Financial Market Regulation And Reforms In Emerging Markets written by Masahiro Kawai and has been published by Brookings Institution Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011 with Business & Economics categories.
"In the wake of the global financial crisis that began in 2008, offers a systematic overview of recent developments in regulatory frameworks in advanced and emerging-market countries, outlining challenges to improving regulation, markets, and access in developing economies"--Provided by publisher.
Emerging Equity Markets
DOWNLOAD
Author : Mr.Robert Alan Feldman
language : en
Publisher: International Monetary Fund
Release Date : 1994-03-01
Emerging Equity Markets written by Mr.Robert Alan Feldman and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1994-03-01 with Business & Economics categories.
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.