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http://hdl.handle.net/2451/31385
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| Title: | Domestic Capital Market Reform and Access to Global Finance: Making
Markets Work |
| Authors: | Henry, Peter
Lorentzen, Peter |
| Issue Date: | Jan-2007 |
| Publisher: | Center on Democracy, Development, and Rule of Law |
| Abstract: | Contrary to the predictions of standard economic theory, capital market
liberalization has been a mixed blessing for many countries.
Liberalization of debt inflows exposes economies to the risk of crises
stemming from sudden changes in investor sentiment. Equity market
liberalizations, on the other hand, have promoted growth in almost every
liberalizing country. Yet equity market liberalizations have not had as
strong an effect as might be expected. To convince outsiders to invest,
countries must put in place laws and supporting institutions to protect
the rights of minority shareholders. Countries with such protections
tend to have larger, more efficient, and more stable stock markets than
those that do not. |
| URI: | http://hdl.handle.net/2451/31385 |
| Appears in Collections: | Peter Henry's Collection
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