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Emerging Capital Markets and Globalization

The Latin American Experience

; Sergio Schmukler

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. Les mer
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Legg i
Vår pris: 481,-

(Paperback) Fri frakt!
Leveringstid: Sendes innen 21 dager
På grunn av Brexit-tilpasninger og tiltak for å begrense covid-19 kan det dessverre oppstå forsinket levering.

Om boka

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.

Fakta

Innholdsfortegnelse


































































































































Forewordxi
Acknowledgmentsxv
About the Authorsxvii
Abbreviationsxviii
1 WHITHER CAPITAL MARKET DEVELOPMENT?1(24)




Why Does Financial Development Matter?

5(3)




Evolution and Globalization of Capital Markets

8(5)




Main Developments in Domestic Capital Markets

13(2)




Factors behind the Development and Internationalization of Capital Markets

15(4)




Policy Implications

19(2)




Conclusions

21(4)
2 DEVELOPMENTS IN CAPITAL MARKETS25(58)




The Global Context

26(4)




Developing Countries in the Global Context

30(13)




Developments in Domestic Capital Markets

43(29)




Participation in International Capital Markets

72(8)




Conclusions

80(1)




Annex: When "Marking to Market" Becomes "Marking to Model"

81(2)
3 FACTORS BEHIND THE DEVELOPMENT AND INTERNATIONALIZATION OF CAPITAL MARKETS83(56)




Factors behind Capital Market Development

85(25)




Stock Market Internationalization

110(19)




Domestic Capital Market Development in Latin America

129(2)




Conclusions

131(8)
4 WHITHER THE REFORM AGENDA?139(28)




What Went Wrong and What to Do Next?

144(8)




Back to Basics

152(10)




Final Remarks

162(2)




Annex: Regional Capital Markets Integration A Viable Alternative?

164(3)
Endnotes167(18)
References185(18)
Index203