UID:
edoccha_9958079120702883
Format:
1 online resource (86 p.)
ISBN:
1-4623-9357-8
,
1-4527-3822-X
Series Statement:
Occasional Papers
Content:
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.
Note:
Description based upon print version of record.
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Cover; Contents; Preface; Executive Summary; I: Introduction; Tables; 1.1. GDP, GDP Per Capita, and Financial Market Development in Developing and Emerging Market Countries; 1.2. Smaller Economy Countries; II: Impediments to Financial Market Development in Smaller Economies; Intrinsic Obstacles; 2.1. Banking Sector Structure; Figures; 2.1. Smaller Economies: Number of Banks; 2.2. Selected Countries: Size of Insurance Sector; 2.3. Pension Fund Assets; Structural Obstacles; 2.4. Smaller Economies and Emerging Market Countries: Broad Money; 2.5. Selected Countries: Agriculture Share of GDP, 2004
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2.6. Selected Countries: Foreign Currency Deposits to Total Deposits, 20012.7. International Investment Position Data, IMF Member Countries, 2003; Institutional Obstacles; 2.8. Selected Countries: Capital Account Openness; Policy Rigidities; 2.2. Emerging Market Countries and Smaller Economies with Floating Arrangements: Controlled Transactions; 2.9. Business Environment Indicators, 2005; 2.10. Selected Countries: Indicators of the Effectiveness of the Legal Framework; Lack of Political Will and Vested Interests; 2.11. Smaller Economies and Emerging Market Countries: Corruption
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III: Foreign Exchange MarketsStylized Facts; Market Development: From Central Bank Dominance to Market-Led; Fixed Exchange Rate Regime Issues 18; Boxes; 3.1. The Danish Foreign Exchange Market; IV: Money and Secondary Government Securities Markets 20 Stylized Facts; Stylized Facts; Market Development 20; V: Secondary Equity Markets; Stylized Facts; Market Development; 5.1. Stock Exchange Trading Systems in Smaller Economies; VI: Regional Integration; The Potential Benefits of Regional Integration for Smaller Economies; Preconditions: Strong Linkages and Potential Business Opportunities
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Government Policies: Markets Lead and Governments SuperviseInfrastructure Centralization; Annex I. Stylized Facts: Foreign Exchange Markets; Degree of Market Development; A1.1. Selected Countries: Foreign Exchange Market Annual Turnover; Potential Reasons for the Lack of Smaller Economy Foreign Exchange Market Development; A1.2. Kolmogorov-Smirnov Comparison Tests of Median Volatility of Daily Exchange Rate Movements for Smaller Economies and Emerging Market Countries; A1.1. Emerging Market Countries and Smaller Economies: Selected Foreign Exchange Market Aspects
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A1.2. Median Daily Exchange Rate Percent Change, Emerging Markets and Smaller Economies with Floating Exchange Rate ArrangementsCase Studies; A1.3. Maximum Daily Exchange Rate Percent Change, Emerging Markets and Smaller Economies with Floating Exchange Rate Arrangements; A1.3. Smaller Economy and Emerging Market Floating Exchange Rate Countries: Number of Licensed Banks, 2004; A1.4. Capital Inflows of Emerging Markets and Smaller Economies with Floating Arrangements, 2000-06; A1.5. Serbia: Foreign Exchange Market Turnover, 2002-07
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Annex II. Stylized Facts: Money and Secondary Government Securities Markets
Additional Edition:
ISBN 1-58906-775-4
Language:
English
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