Publication:
Whither Latin American Capital Markets?

dc.contributor.author De La Torre, Augusto
dc.contributor.author Schmukler, Sergio L.
dc.date.accessioned 2017-01-25T20:32:42Z
dc.date.available 2017-01-25T20:32:42Z
dc.date.issued 2004-10
dc.description.abstract In this study, the authors analyze where we stand and where we are heading on capital market development. More specifically, this study has three main goals. First, the authors take stock of the state and evolution of Latin American capital markets and related reforms, over time and relative to other countries. Second, authors analyze the factors driving the development of capital markets, with particular interest on measuring the impact of reforms. Third, in light of this analysis, authors discuss the prospects for capital market development in Latin America and emerging economies in general, and the implications for the reform agenda going forward. To understand the state and future of capital markets in developing countries, the report consists of three additional chapters. Chapter two documents the main developments in international financial markets and the increasing globalization process. The chapter also describes the influence of these worldwide trends on Latin America, with particular attention to the effects on the policies and reforms adopted. Chapter three evaluates the factors behind the development (or lack of development) of capital markets. The chapter first studies how different macroeconomic and institutional variables affect the development of domestic stock and bond markets and their internationalization. The second part of chapter three analyzes the effects of reforms on capital markets. The chapter finishes by examining whether the experience of Latin America is similar to that of other regions. Finally, chapter four discusses the future of capital markets in developing countries, the policy implications, and the lessons for the reform agenda. en
dc.identifier http://documents.worldbank.org/curated/en/612051482748198671/Whither-Latin-American-capital-markets
dc.identifier.uri http://hdl.handle.net/10986/25933
dc.language English
dc.language.iso en_US
dc.publisher World Bank, Washington, DC
dc.rights CC BY 3.0 IGO
dc.rights.holder World Bank
dc.rights.uri http://creativecommons.org/licenses/by/3.0/igo
dc.subject capital flows
dc.subject capital markets
dc.subject market capitalization
dc.subject stock exchange
dc.subject economic reform
dc.title Whither Latin American Capital Markets? en
dc.type Book en
dc.type Livre fr
dc.type Libro es
dspace.entity.type Publication
okr.date.disclosure 2016-12-26
okr.doctype Publications & Research
okr.doctype Publications & Research :: Working Paper
okr.docurl http://documents.worldbank.org/curated/en/612051482748198671/Whither-Latin-American-capital-markets
okr.identifier.externaldocumentum 090224b0848058a7_1_0
okr.identifier.internaldocumentum 27052670
okr.identifier.report 109977
okr.imported true
okr.language.supported en
okr.pdfurl http://documents.worldbank.org/curated/en/612051482748198671/pdf/109977-WP-Box396323B-PUBLIC-Whither-Latin-American-Capital-Markets-La-Torre-Schmukler-10-2004.pdf en
okr.region.administrative Latin America & Caribbean
okr.topic Finance and Financial Sector Development :: Capital Markets and Capital Flows
okr.topic Macroeconomics and Economic Growth :: Economic Conditions and Volatility
okr.topic Macroeconomics and Economic Growth :: Economic Investment & Savings
okr.topic Macroeconomics and Economic Growth :: Economic Policy, Institutions and Governance
okr.topic Macroeconomics and Economic Growth :: Financial Economics
okr.topic Macroeconomics and Economic Growth :: Investment and Investment Climate
okr.unit DECRG: Finance & Priv Sec Devt (DECFP)
relation.isAuthorOfPublication ad1ad457-a974-53de-815c-c7010e0fdd74
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