Emerging capital markets and globalization : the Latin American experience
著者
書誌事項
Emerging capital markets and globalization : the Latin American experience
（Latin American development forum）
Stanford University Press , World Bank, c2007
- : world rights except North America
- : hardcover: North America
- : softcover: North America
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注記
Includes bibliographical references (p. 185-201) and index
eISBN: 0821365444
"A copublication of Stanford Economics and Finance, an imprint of Stanford University Press, and the World Bank"
内容説明・目次
- 巻冊次
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: hardcover: North America ISBN 9780804757188
内容説明
Back in the early 1990s, economists and policy makers had high expectations about the prospects for domestic capital market development in emerging economies, particularly in Latin America. Unfortunately, they are now faced with disheartening results. Stock and bond markets remain illiquid and segmented. Debt is concentrated at the short end of the maturity spectrum and denominated in foreign currency, exposing countries to maturity and currency risk. Capital markets in Latin America look particularly underdeveloped when considering the many efforts undertaken to improve the macroeconomic environment and to reform the institutions believed to foster capital market development. The disappointing performance has made conventional policy recommendations questionable, at best. Emerging Capital Markets and Globalization analyzes where we stand and where we are heading on capital market development. First, it takes stock of the state and evolution of Latin American capital markets and related reforms over time and relative to other countries. Second, it analyzes the factors related to the development of capital markets, with particular interest on measuring the impact of reforms.
And third, in light of this analysis, it discusses the prospects for capital market development in Latin America and emerging economies and the implications for the reform agenda.
- 巻冊次
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: softcover: North America ISBN 9780804757195
内容説明
Back in the early 1990s, economists and policy makers had high expectations about the prospects for domestic capital market development in emerging economies, particularly in Latin America. Unfortunately, they are now faced with disheartening results. Stock and bond markets remain illiquid and segmented. Debt is concentrated at the short end of the maturity spectrum and denominated in foreign currency, exposing countries to maturity and currency risk. Capital markets in Latin America look particularly underdeveloped when considering the many efforts undertaken to improve the macroeconomic environment and to reform the institutions believed to foster capital market development. The disappointing performance has made conventional policy recommendations questionable, at best. Emerging Capital Markets and Globalization analyzes where we stand and where we are heading on capital market development. First, it takes stock of the state and evolution of Latin American capital markets and related reforms over time and relative to other countries. Second, it analyzes the factors related to the development of capital markets, with particular interest on measuring the impact of reforms.
And third, in light of this analysis, it discusses the prospects for capital market development in Latin America and emerging economies and the implications for the reform agenda.
- 巻冊次
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: world rights except North America ISBN 9780821365434
内容説明
This book sheds light on the analytical, empirical, and policy dimensions of a basic stylized fact - that the development of local capital markets in most of Latin America has been quite poor relative to other emerging economies and to global trends. Importantly, it discusses the implications for the capital market reform agenda going forward, emphasizing the need for revisions to the prevalent policy paradigm.
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