Developing Essential Financial Markets in Smaller Economies: Stylized Facts and Policy Options
December 16, 2008
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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: Banking, Currency markets, Emerging and frontier financial markets, Financial institutions, Financial markets, Foreign exchange, Government securities, Interbank markets, Stock markets
Keywords: Africa, Baltics, Caribbean, Central America, company, country trading, Currency markets, economy, Emerging and frontier financial markets, emerging market country, Government securities, government securities market, Interbank markets, market, market development, market participant, market player, market underdevelopment, OP, smaller economy, Southern Africa, Stock markets, trading, West Africa
Pages:
86
Volume:
2008
DOI:
Issue:
006
Series:
Occasional Paper No. 2008/006
Stock No:
S265EA
ISBN:
9781589067752
ISSN:
0251-6365
