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Hacia mercados de capitales fuertes y estables en economías emergentes

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  • Rojas-Suarez, Liliana

Abstract

El presente estudio identifica y analiza las condiciones necesarias para fomentar el desarrollo de mercados de capitales sólidos y estables en economías emergentes. Estas condiciones se pueden agrupar en cuatro pilares: estabilidad macroeconómica, un sistema bancario sólido, calidad institucional alta y marcos regulatorios y de supervisión adecuados. El mensaje central es que estos pilares son interdependientes: son complementarios y de igual importancia, de manera que la falta de fortaleza de alguno debilitaría al resto. El artículo también enfatiza que la incapacidad de las economías emergentes para emitir activos seguros (activos que se mantienen líquidos en “tiempos malos”) representa una restricción importante sobre la resiliencia de sus mercados de capitales frente a shocks externos.

Suggested Citation

  • Rojas-Suarez, Liliana, 2015. "Hacia mercados de capitales fuertes y estables en economías emergentes," Revista Estudios Económicos, Banco Central de Reserva del Perú, issue 29, pages 9-16.
    • Handle: RePEc:rbp:esteco:ree-29-01
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    File URL: https://www.bcrp.gob.pe/docs/Publicaciones/Revista-Estudios-Economicos/29/ree-29-rojas-suarez.pdf
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    References listed on IDEAS

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    More about this item

    JEL classification:

    • G18 - Financial Economics - - General Financial Markets - - - Government Policy and Regulation
    • E44 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Financial Markets and the Macroeconomy
    • O16 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment; Corporate Finance and Governance

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