IDEAS home Printed from https://ideas.repec.org/h/bis/bisbpc/75-04.html
   My bibliography  Save this book chapter

Towards strong and stable capital markets in emerging market economies

In: Long-term finance: can emerging capital markets help?

Author

Listed:
  • Liliana Rojas-Suarez

    (Center for Global Development)

Abstract

This paper identifies and discusses the conditions needed for achieving strong and stable capital markets in emerging market economies, which at present remain illiquid and underdeveloped. These conditions can be grouped into four pillars: macroeconomic stability, sound banking systems, high institutional quality, and an adequate regulatory and supervisory framework. A central message is that these pillars are interdependent: failure to strengthen any of these pillars will weaken the others; all pillars are complementary and equally important. The paper also emphasizes that the inability of emerging markets to issue safe assets imposes a major constraint on the resilience of their local capital markets to external shocks.
(This abstract was borrowed from another version of this item.)

Suggested Citation

  • Liliana Rojas-Suarez, 2014. "Towards strong and stable capital markets in emerging market economies," BIS Papers chapters, in: Bank for International Settlements (ed.), Long-term finance: can emerging capital markets help?, volume 75, pages 13-20, Bank for International Settlements.
    • Handle: RePEc:bis:bisbpc:75-04
    as

    Download full text from publisher

    File URL: http://www.bis.org/publ/bppdf/bispap75c.pdf
    Download Restriction: no
    ---><---

    Other versions of this item:

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Krisztina Jäger-Gyovai, 2014. "Capital Market Development in CESEE and the Need for Further Reform," Financial Stability Report, Oesterreichische Nationalbank (Austrian Central Bank), issue 27, pages 74-82.
    2. Thomas C. Chiang & Lanjun Lao & Qingfeng Xue, 2016. "Comovements between Chinese and global stock markets: evidence from aggregate and sectoral data," Review of Quantitative Finance and Accounting, Springer, vol. 47(4), pages 1003-1042, November.
    3. Chiang, Thomas C. & Chen, Xiaoyu, 2016. "Stock returns and economic fundamentals in an emerging market: An empirical investigation of domestic and global market forces," International Review of Economics & Finance, Elsevier, vol. 43(C), pages 107-120.
    4. Thomas C. Chiang & Yuanqing Zhang, 2018. "An Empirical Investigation of Risk-Return Relations in Chinese Equity Markets: Evidence from Aggregate and Sectoral Data," IJFS, MDPI, vol. 6(2), pages 1-22, March.
    5. Chen, Xiaoyu & Chiang, Thomas C., 2016. "Stock returns and economic forces—An empirical investigation of Chinese markets," Global Finance Journal, Elsevier, vol. 30(C), pages 45-65.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bis:bisbpc:75-04. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Martin Fessler (email available below). General contact details of provider: https://edirc.repec.org/data/bisssch.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.