Equity market development in developing countries
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.
What people are saying - Write a review
We haven't found any reviews in the usual places.
THEORY BEHIND THE DEVELOPMENT
BENEFITS AND COSTS OF EQUITY MARKETS IN DCs
8 other sections not shown
Other editions - View all
activities addition Agtmael allocation allowed assets benefits billion bonds borrowers Brazil Brazilian capital flight capital markets commercial banks competition confidence convertible bonds country funds credit subsidies debentures debt deposits developing countries development program disclosure diversification dividends domestic economic development effect efficient emerging markets environment equity market development established financial development financial institutions financial markets firms fiscal foreign investment go public government securities important incentives income increased India individual industries inflation institutional investors interest rates International Finance Corporation international investors internationalization issues Korea Korea Stock Exchange KSFC limited liquidity listed loans long-term major markets in developing mobilization modern portfolio theory monetary mutual funds operations ownership pension funds percent private sector problems profit regulation regulatory requirements restrictions risk savings secondary markets securities markets shareholders source of funds stage stock exchanges stock market theory trading U.S. Dollars