Emerging Equity Markets: Growth, Benefits, and Policy Concerns

IMF Policy Discussion Papers, March 1, 1994

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Emerging Equity Markets: Growth, Benefits, and Policy Concerns

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Bibliographic details

• Authors: Manmohan S. Kumar, Robert A Feldman
• Published: March 1, 1994
• Series: IMF Policy Discussion Papers
• DOI: https://doi.org/10.5089/9781451971217.003

Main characteristics and evolution

• Since the mid-1980s, there has been a very substantial increase in stock market activity in many developing countries.
• The paper examines the main characteristics of emerging stock markets and illustrates the evolution of equity prices in these markets over the last decade.

Drivers of growth

• The paper discusses the reasons for the markets’ growth.
• It assesses the extent to which domestic policies, as well as external factors, have played a role in the expansion of emerging equity markets.

Benefits and macroeconomic risks

• The paper discusses the likely benefits of emerging equity markets for economies.
• It analyzes the effects which any abrupt correction in stock prices could have for the economy.

Market efficiency and policy implications

• The paper outlines ways in which these markets can be made more efficient.
• Issues addressed include market liquidity, market manipulation, market efficiency, and accounting standards as they relate to emerging equity markets.

Key descriptive metadata (as presented on the page)

• Authors: Manmohan S. Kumar, Robert A. Feldman
• Publication date: March 1, 1994
• Series: IMF Policy Discussion Papers
• Summary length focus: 34 pages
• Series/Issue: Policy Discussion Paper No. 1994/007

Manmohan S. Kumar and Robert A. Feldman, March 1, 1994.