Equity for rural America : from Wall Street to Main Street : a conference summary

Equity markets play a crucial role as a lifeline of capital to entrepreneurs. U.S. equity markets are so large and so efficient that they have become an inexpensive way for many companies to raise capital through the issuance of stock. Indeed, many experts argue that the primary benefit of the equity markets is their role in providing new capital for business ventures. But the capital benefits of stock markets do not reach all businesses.> Many rural companies simply lack the size to issue stock directly on Wall Street. In addition, most rural companies cannot boast of the kind of growth prospects that attract venture capitalists. In short, equity capital is a major challenge as rural America searches for ways to help its entrepreneurs and boost economic growth in the new century.> Recognizing that challenge, the Federal Reserve Bank of Kansas City hosted a national conference, \\"Equity for Rural America: From Wall Street to Main Street.\\" The conference, which was held in Denver on October 8-9, 1998, brought together 125 equity capital market experts, financial market participants, and rural leaders to assess ways to improve rural equity capital markets. Drabenstott and Meeker summarize the proceedings of this important conference for rural America.