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

Author/Editor: Stone, Mark R. ; Shimizu, Seiichi ; Nordstrom, Anna ; Ferhani, Hervé J
Publication Date: December 16, 2008
Electronic Access: Link to Abstract

Electronic Access: Link to Table of Contents

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.
Subject(s): Banking systems | Capital markets | Central bank policy | Corporate governance | Cross country analysis | Economic integration | Financial sector | Foreign exchange | Small states | Stock markets

Publication Date: December 16, 2008
ISBN/ISSN: 978-1-58906-775-2 Format: Paper
Stock No: S265EA Pages: 86
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