Domestic Capital Market Reform and Access to Global Finance: Making Markets Work
- Topics:
- Equity
- Tags:
- Capital Market,
- Finance,
- Free Trade,
- Liberalization,
- Microsoft Access,
- National Bureau Of Economic Research
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Overview: Contrary to the predictions of standard economic theory, capital market liberalization has been a mixed blessing for many countries. Liberalization of debt inflows exposes economies to the risk of crises stemming from sudden changes in investor sentiment. Equity market liberalizations, on the other hand, have promoted growth in almost every liberalizing country. Yet equity market liberalizations have not had as strong an effect as might be expected. To convince outsiders to invest, countries must put in place laws and supporting institutions to protect the rights of minority shareholders.
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Format: PDF | Size: 315KB | Date: Oct 2003 | Pages: 46
