Stock Market Development under Globalization : Whither the Gains from Reforms?

Over the past decades, many countries have implemented significant reforms to foster domestic capital market development. These reforms included stock market liberalization, privatization programs, and the establishment of regulatory and supervisor...

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Bibliographic Details
Main Authors:	de la Torre, Augusto, Gozzi, Juan Carlos, Schmukler, Sergio L.
Format:	Policy Research Working Paper
Language:	English
Published:	World Bank, Washington, DC 2012
Subjects:	ADVERSE SELECTION AGENCY PROBLEMS ASSET PRICING BANK PRIVATIZATION BANKS BOARD OF DIRECTORS BONDS CAPITAL FLIGHT CAPITAL FLOWS CAPITAL MARKET DEVELOPMENT CAPITAL MARKETS CASE OF PRIVATIZATION CORPORATE GOVERNANCE DOMESTIC CAPITAL DOMESTIC CAPITAL MARKET DOMESTIC CAPITAL MARKETS DOMESTIC INVESTORS DOMESTIC MARKET DOMESTIC MARKETS DOMESTIC STOCK MARKET ECONOMIC EFFICIENCY EMERGING MARKETS ENFORCEMENT MECHANISMS EQUITY CAPITAL EQUITY MARKETS EXECUTIVE DIRECTORS EXOGENOUS VARIABLES EXPENDITURES EXPORTS FINANCIAL CENTERS FINANCIAL CONDITIONS FINANCIAL DEVELOPMENT FINANCIAL MARKETS FINANCIAL SERVICES FOREIGN DIRECT INVESTMENT FOREIGN INVESTORS GDP GLOBAL DEPOSITARY GOVERNMENT INTERFERENCE GROSS DOMESTIC PRODUCT HOME MARKET IMPACT OF PRIVATIZATION INFLATION INSIDER TRADING INSTITUTIONAL ENVIRONMENT INSTITUTIONAL REFORM INSTITUTIONAL REFORMS INTERESTS OF MINORITY SHAREHOLDERS INTERNATIONAL BUSINESS INTERNATIONAL CAPITAL INTERNATIONAL CENTER INTERNATIONAL MARKETS INVESTMENT DECISION INVESTOR PROTECTION LABOR MARKET LATIN AMERICAN LEGAL FRAMEWORK LEGAL SYSTEMS LIFE INSURANCE COMPANIES LIMITED LIQUIDITY LITERATURE ON PRIVATIZATION LOCAL CAPITAL MARKETS LOCAL MARKET LOCAL STOCK MACROECONOMIC POLICIES MACROECONOMIC STABILITY MACROECONOMIC STABILIZATION MARKET CAPITALIZATION MARKET DEVELOPMENT MARKET DISTORTIONS MARKET LIBERALIZATION MARKET PERFORMANCE MARKET REFORM MARKET REFORMS MARKET TRADING MINORITY SHAREHOLDERS OBJECTIVE OF PRIVATIZATION PENSION FUNDS PENSION SYSTEM POLITICAL INTERFERENCE POLITICAL RISK POSITIVE EXTERNALITIES PRICING MODELS PRIVATE FIRMS PRIVATIZATION PRIVATIZATION ACTIVITY PRIVATIZATION DATABASE PRIVATIZATION LAW PRIVATIZATION OF STATE PRIVATIZATION PROCESS PRIVATIZATION PROGRAM PRIVATIZATION PROGRAMS PRIVATIZATION SALES PRIVATIZATION TRANSACTIONS PRIVATIZATIONS PROPERTY RIGHTS PROTECTION OF MINORITY INVESTORS PROXY PUBLIC EXPENDITURES PUBLIC OFFERINGS REGULATORY FRAMEWORK RETAIL SALES SHARE OFFERINGS SHARE PRICES STOCK EXCHANGE STOCK EXCHANGES STOCK MARKET CAPITALIZATION STOCK MARKETS STOCKS TRADE LIBERALIZATION TRANSITION ECONOMIES TREASURY BILLS TURNOVER VALUE ADDED
Online Access:	http://documents.worldbank.org/curated/en/2007/04/7499115/stock-market-development-under-globalization-whither-gains-reforms http://hdl.handle.net/10986/7011

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http://documents.worldbank.org/curated/en/2007/04/7499115/stock-market-development-under-globalization-whither-gains-reforms
http://hdl.handle.net/10986/7011

Stock Market Development under Globalization : Whither the Gains from Reforms?

Internet

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