Developing Essential Financial Markets in Smaller Economies: Stylized Facts and Policy Options

International Monetary Fund

No 2008/006, IMF Occasional Papers from International Monetary Fund

Abstract: This paper surveys the foreign exchange markets, money and secondary government security markets, and stock exchanges in 107 smaller economy countries. The underdevelopment of these markets impedes risk transfer, monetary policy, corporate financing, and the capacity to absorb capital inflows. This study marks a first step toward formulating policies to develop essential smaller economy financial markets by documenting the stylized facts and presenting a framework for assessing the policy issues.

Keywords: OP; market; economy; trading; market development; company; smaller economy; government securities market; country trading; market participant; Stock markets; Currency markets; Emerging and frontier financial markets; Interbank markets; Baltics; Central America; Africa; Southern Africa; West Africa; emerging market country; market player; market underdevelopment; Government securities; Caribbean (search for similar items in EconPapers)
Pages: 86
Date: 2008-12-16
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Citations: View citations in EconPapers (2)

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