Equity and Private Debt Markets in Central America, Panama, and the Dominican Republic

Author/Editor: Shah, Hemant ; Carvajal, Ana ; Bannister, Geoffrey J. ; Chan-Lau, Jorge A. ; Guerra, Ivan
Publication Date: December 01, 2007
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Disclaimer: This Working Paper should not be reported as representing the views of the IMF. The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate
Summary: This study focuses on equity, private debt, and asset-backed securities markets in Central America. These markets are generally under-developed throughout the region due to several structural problems, economic and political factors, and weaknesses in regulation and in institutional investor base. The paper identifies key country-specific recommendations to strengthen securities laws, regulatory oversight, market infrastructure, investor base, and new products such as asset-backed securities. Despite these efforts, developing seven viable private capital markets is a difficult goal. The paper thus also explores the benefits and difficulties of creating a single capital market in a region still short of full economic integration.
Series: Working Paper No. 07/288
Subject(s): Debt | Costa Rica | Dominican Republic | El Salvador | Guatemala | Honduras | Nicaragua | Panama | Capital markets | Securities regulations

Author's Keyword(s): Central America | equity | debt | securitization | financial integration | capital market development | securities regulation | Costa Rica | Dominican Republic | El Salvador | Guatemala | Honduras | Nicaragua | Panama
Publication Date: December 01, 2007
Format: Paper
Stock No: WPIEA2007288 Pages: 130
US$18.00 (Academic Rate:
US$18.00 )
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