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Emerging equity markets in the global economy

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  • John Mullin

Abstract

Developing-country equity markets have changed greatly in the last several years. The author examines recent structural reforms and their effects on equity portfolio inflows in several of the most highly capitalized emerging equity markets. He also analyzes broad trends in these markets, giving particular attention to the integration of the markets with the global financial system.

Suggested Citation

  • John Mullin, 1993. "Emerging equity markets in the global economy," Quarterly Review, Federal Reserve Bank of New York, vol. 18(Sum), pages 54-83.
    • Handle: RePEc:fip:fednqr:y:1993:i:sum:p:54-83:n:v.18no.2
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    Citations

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    Cited by:

    1. Ajit Singh, 1998. "Pension Reform, the Stock Market, Capital Formation and Economic Growth: A Critical Commentary on the World Bank’s Proposals," Istanbul Stock Exchange Review, Research and Business Development Department, Borsa Istanbul, vol. 2(8-7), pages 51-78.
    2. C. V. Helliar & R. Michaelson & D. M. Power & C. D. Sinclair, 2000. "Using a portfolio management game (Finesse) to teach finance," Accounting Education, Taylor & Francis Journals, vol. 9(1), pages 37-51.
    3. Singh, A., 1997. "Liberalisation, the Stock Market and the Market for Corporate Control: A Bridge Too Far for the Indian Economy?," Accounting and Finance Discussion Papers 97-af35, Faculty of Economics, University of Cambridge.
    4. Elizabeth Berko & John Clark, 1997. "Foreign investment fluctuations and emerging market stock returns: the case of Mexico," Staff Reports 24, Federal Reserve Bank of New York.
    5. Ilmolelian, Peter, 2005. "The determinants of the Harare Stock Exchange (HSE) market capitalisation," MPRA Paper 1418, University Library of Munich, Germany.
    6. Singh, Ajit, 2011. "Addendum to India’s Economic Reforms and Development: Essays for Manmohan Singh," MPRA Paper 53179, University Library of Munich, Germany.
    7. Ma, Xianghai, 1996. "Capital controls, market segmentation and stock prices: Evidence from the Chinese stock market," Pacific-Basin Finance Journal, Elsevier, vol. 4(2-3), pages 219-239, July.
    8. Ajit Singh, 2003. "Corporate governance, corporate finance and stock markets in emerging countries," Working Papers wp258, Centre for Business Research, University of Cambridge.
    9. Meric, Gulser & Leal, Ricardo P. C. & Ratner, Mitchell & Meric, Ilhan, 2001. "Co-movements of U.S. and Latin American equity markets before and after the 1987 crash," International Review of Financial Analysis, Elsevier, vol. 10(3), pages 219-235.
    10. Grabel, Ilene, 1996. "Marketing the third world: The contradictions of portfolio investment in the global economy," World Development, Elsevier, vol. 24(11), pages 1761-1776, November.
    11. Ajit Singh, 1998. "Financial liberalisation, stockmarkets and economic development," Nova Economia, Economics Department, Universidade Federal de Minas Gerais (Brazil), vol. 8(1), pages 165-182.
    12. Singh, Ajit, 1994. "Corporate financial patterns in industrialising economies: a comparative international study," MPRA Paper 54936, University Library of Munich, Germany.
    13. Ayaz Ahmed, 1998. "Stock Market Interl inkages in Emerging Markets," PIDE-Working Papers 1998:159, Pakistan Institute of Development Economics.
    14. Jamshed Y. Uppal & I.U. Mangla, 1996. "Accessing International Capital: Pakistan’s Experience, Prospects, and Policy Implications," The Pakistan Development Review, Pakistan Institute of Development Economics, vol. 35(4), pages 929-941.
    15. Francis, Bill B. & Hasan, Iftekhar & Hunter, Delroy M., 2002. "Emerging market liberalization and the impact on uncovered interest rate parity," Journal of International Money and Finance, Elsevier, vol. 21(6), pages 931-956, November.
    16. Kwan, Felix B. & Reyes, Mario G., 1997. "Price effects of stock market liberalization in Taiwan," The Quarterly Review of Economics and Finance, Elsevier, vol. 37(2), pages 511-522.
    17. Singh, Ajit & Weisse, Bruce A., 1998. "Emerging stock markets, portfolio capital flows and long-term economie growth: Micro and macroeconomic perspectives," World Development, Elsevier, vol. 26(4), pages 607-622, April.
    18. Bijay, K. C. & Snowden, P. N., 1999. "Pricing Shares on a Nascent Market: The Nepal Stock Exchange 1994-96," World Development, Elsevier, vol. 27(6), pages 1083-1096, June.
    19. Najeb M.H. Masoud, 2013. "The Impact of Stock Market Performance upon Economic Growth," International Journal of Economics and Financial Issues, Econjournals, vol. 3(4), pages 788-798.
    20. Lakshmi, Geeta & Saha, Shrabani & Bhattarai, Keshab, 2021. "Does corruption matter for stock markets? The role of heterogeneous institutions," Economic Modelling, Elsevier, vol. 94(C), pages 386-400.
    21. Singh, Ajit, 2001. "Corporate financing patterns in emerging markets in the 1980s and the 1990s," MPRA Paper 53663, University Library of Munich, Germany.
    22. Peter Ilmolelian, 2005. "The Determinants of the Harare Stock Exchange (HSE) Market Capitalisation," Econometrics 0511016, University Library of Munich, Germany.
    23. Singh, Ajit, 1998. "Corporate Governance, Evolution of Corporate Laws and Asian Economic Development into the 21st Century," MPRA Paper 24662, University Library of Munich, Germany.
    24. Koutmos, Gregory, 1997. "Do emerging and developed stock markets behave alike? Evidence from six pacific basin stock markets," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 7(3), pages 221-234, October.
    25. Agnirup Sarkar, 2013. "Financial intermediation and economic growth: the post-liberalization Indian experience," Macroeconomics and Finance in Emerging Market Economies, Taylor & Francis Journals, vol. 6(2), pages 280-294, September.

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    Keywords

    Developing countries; Stock market;

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