Developing Essential Financial Markets in Smaller Economies : Stylized Facts and Policy Options

Publication Date: December 16, 2008
Electronic Access: Link to Abstract

Summary: This paper surveys the foreign exchange markets, money and secondary government security markets, and stock exchanges in 107 smaller economy countries. The underdevelopment of these markets impedes risk transfer, monetary policy, corporate financing, and the capacity to absorb capital inflows. This study marks a first step toward formulating policies to develop essential smaller economy financial markets by documenting the stylized facts and presenting a framework for assessing the policy issues.
Series: Occasional Paper No. 265
Subject(s): Banking systems | Central bank policy | Financial sector | Small states | Stock markets

Publication Date: December 16, 2008
ISBN/ISSN: 9781589067752/0251-6365 Format: Paper
Stock No: S265EA Pages: 86
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