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

By Hemant Shah, Jorge A Chan-Lau, Geoffrey J Bannister, Ana Carvajal, Ivan S Guerra

December 1, 2007

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Hemant Shah, Jorge A Chan-Lau, Geoffrey J Bannister, Ana Carvajal, and Ivan S Guerra. Equity and Private Debt Markets in Central America, Panama, and the Dominican Republic, (USA: International Monetary Fund, 2007) accessed September 19, 2024

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.

Subject: Capital markets, Financial institutions, Financial markets, Mutual funds, Securities, Securities markets, Stock markets

Keywords: Baltics, Capital market, Capital market development, Capital markets, Central America, Commercial paper, Costa Rica, Debt, Dominican Republic, El Salvador, Equity, Financial integration, Global, Guatemala, Honduras, Insider trading, Market maker, Market participant, Mutual fund, Mutual funds, Nicaragua, Panama, Private sector, Securities, Securities exchange, Securities issuance, Securities markets, Securities regulation, Securities regulator, Securitization, Stock markets, WP

Publication Details

Pages:

130
Volume:

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DOI:

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Issue:

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Series:

Working Paper No. 2007/288
Stock No:

WPIEA2007288
ISBN:

9781451868517
ISSN:

1018-5941

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