首页 | 本学科首页   官方微博 | 高级检索  
     


Stock market development under globalization: Whither the gains from reforms?
Authors:Augusto de la Torre  Juan Carlos Gozzi  Sergio L. Schmukler
Affiliation:The World Bank, 1818 H Street NW, Washington, DC 20433, United States
Abstract:Over the past decades, many countries have implemented significant reforms (including financial liberalization, privatization, and regulatory and supervisory improvements) to foster domestic capital market development. Despite these policies, the performance of capital markets in several countries has been disappointing. To understand the effects of reforms, we study the impact of six capital market reforms on domestic stock market development and internationalization. We find that reforms tend to be followed by increases in domestic market capitalization and trading. But reforms are also followed by an increase in the share of activity in international equity markets, with potential negative spillover effects.
Keywords:G15   G18   G20
本文献已被 ScienceDirect 等数据库收录!
设为首页 | 免责声明 | 关于勤云 | 加入收藏

Copyright©北京勤云科技发展有限公司  京ICP备09084417号