The future of domestic capital markets in developing countries / Robert E. Litan, Michael Pomerleano, V. Sundararajan, editors.

Format:

Book

Contributor:

Litan, Robert E., 1950-

Pomerleano, Michael.

Sundararajan, Vasudevan.

Series:

World Bank/IMF/Brookings emerging markets series

Language:

English

Subjects (All):

Capital market--Developing countries.

Capital market.

Capital market--Law and legislation.

Capital market--Government policy.

Developing countries.

Capital market--Government policy--Developing countries.

Capital market--Law and legislation--Developing countries.

Genre:

Conference papers and proceedings.

Physical Description:

x, 532 pages : illustrations ; 23 cm.

Place of Publication:

Washington : Brookings Institution Press, [2003]

Summary:

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.

Contents:

Part 1 Capital Market Development around the World

2 Trends in Developing-Country Capital Markets around the World / Gerd Hausler, Donald J. Mathieson, Jorge Roldos 21

3 The Development of Domestic Markets for Government Bonds / Clemente del Valle, Piero Ugolini 45

4 Bond Market Development: What Are the Policy Issues? / Philip Turner 77

Panel Summary: Country Experiences with Capital Market Development 113

Part 2 Integrated Supervision

5 Market Discipline and Financial Stability / Glenn Hoggarth, Patricia Jackson, Erlend Nier 125

6 Supervision at the Micro Level: Do Disclosure-Based Regimes Work? / Alan Cameron 153

7 Domestic Capital Market Reform and Access to Global Finance: Making Markets Work / Peter Blair Henry, Peter Lombard Lorentzen 179

8 Capital Market Development and Nurturing the IPO Market / Reena Aggarwal 215

9 Managing Risks in Financial Market Development: The Role of Sequencing / Cem Karacadag, V. Sundararajan, Jennifer Elliott 233

Panel Summary: Does Integrated Supervision Work in Emerging Markets? 273

Part 3 Securities Trading

10 Changing Market Structures, Demutualization, and the Future of Securities Trading / Ruben Lee 283

11 Corporate Governance Issues and Returns in Emerging Markets / Amar Gill 305

12 Capital Structures and Control Rights: Patterns, Trade-offs, and Policy Implications / Olivier Fremond, Mierta Capaul 317

13 Identifying Vulnerabilities, Promoting Financial Stability, and Other Challenges / Patrick K. Conroy, Arne B. Petersen 347

Panel Summary: Approaches to Securities Trading 365

Part 4 Private Equity

14 Capital Structure, Rates of Return, and Financing Corporate Growth: Comparing Developed and Emerging Markets, 1994-2000 / Jack Glen, Ajit Singh 373

15 Corporate Financing Patterns and Performance in Emerging Markets / Dilip Ratha, Philip Suttle, Sanket Mohapatra 417

Panel Summary: The Role of Private Equity in the Development of Capital Markets 457

Part 5 Looking Forward

16 Institutional Savings and Financial Markets: The Role of Contractual Savings Institutions / Alberto R. Musalem, Thierry Tressel 471

Panel Summary: The Future of Domestic Capital Markets in Developing Countries 503.

Notes:

Based on the fifth annual financial markets and development conference bearing the name of this volume, held April 14-16, 2003, in Washington, D.C.

Includes bibliographical references and index.

ISBN:

0815752997

OCLC:

52706496