2011-20: Re-Designing Financial Systems: A Review of the Role of Stock Markets in Developing Economies (Working paper)

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Sharma, Parmendra
Roca, Eduardo
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Akimov, Alexandr

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2011
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27 pages

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Abstract

In the wake of the GFC-prompted worldwide review of financial systems and structures, this article argues for a need to re-examine the role of stock markets in some developing economies. Despite a general surge, in some economies, the pace of development has been lacking and the potential for growth appears limited. Importantly, the idea of imposing or embracing this component of the developed world's financial model appears amiss; stock markets may be less useful than previously thought. It is time to re-examine the applicability of the banking-plus-stock market model in the case of some economies.

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Copyright © 2010 by author(s). No part of this paper may be reproduced in any form, or stored in a retrieval system, without prior permission of the author(s).

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Finance

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G18 - General Financial Markets: Government Policy and Regulation

G20 - Financial Institutions and Services: General

G10 - General Financial Markets: General (includes Measurement and Data)

O56 - Economywide Country Studies: Oceania

Fiji

South Pacific

Developing economies

Stock markets

Financial systems

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