Internationalisation of Capital Markets

S. Ghon Rhee

Chapter 12 in Can South and Southern Africa become Globally Competitive Economies?, 1996, pp 137-147 from Palgrave Macmillan

Abstract: Abstract The opening of a market is easy, but the process of ‘real’ inter-nationalisation is slow and painful. It becomes even slower and more painful when government regulators fail to recognise that it is market-driven. Very often, they are reluctant to solve the principal problem causing disorder in the financial system because they fear losing their authority over the market. Rather, only minor problems are addressed, creating unnecessary rules and regulations. Asian experiences in internationalising capital markets indicate that numerous problems are caused by government regulators: countries frequently experience a painful transition because government authorities fail to adapt to the dynamic environments of the capital markets or take the necessary actions after the fact. This paper reflects upon past Asian experiences and identifies some lessons which may be applied to the development of capital markets in the Southern African region.1

Keywords: Interest Rate; Capital Market; Foreign Investor; Future Market; Cash Market (search for similar items in EconPapers)
Date: 1996
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-24972-5_13

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DOI: 10.1007/978-1-349-24972-5_13

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