Asian Equity Markets: Growth, Opportunities, and Challenges

Author/Editor:

Charles Frederick Kramer ; Catriona Purfield ; Hiroko Oura ; Andreas Jobst

Publication Date:

December 1, 2006

Electronic Access:

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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:

Asian equity markets have grown significantly in size since the early 1990s, driven by strong international investor inflows, growing regional financial integration, capital account liberalization, and structural improvements to markets. The development of equity markets provides a more diversified set of channels for financial intermediation to support growth, thus bolstering medium-term financial stability. At the same time, as highlighted by the May-June 2006 market corrections, the increasing role of stock markets potentially changes the nature of macroeconomic and financial stability risks, as well as the policy requirements for dealing with these risks.

Series:

Working Paper No. 2006/266

Subject:

Asset prices Corporate governance Emerging and frontier financial markets Financial institutions Financial markets Mutual funds Prices Stock markets Stocks

English

Publication Date:

December 1, 2006

ISBN/ISSN:

9781451865264/1018-5941

Stock No:

WPIEA2006266

Pages:

39

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