Explaining the Migration of Stocks from Exchanges in Emerging Economies to International Centers

Explaining the Migration of Stocks from Exchanges in Emerging Economies to International Centers

The authors study the determinants of the growing migration of stock market activity to international financial centers. They use a sample of 77 countries and document that higher economic growth and more macroeconomic stability help stock market d...

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Bibliographic Details
Main Authors: Claessens, Stijn, Klingebiel, Daniela, Schmukler, Sergio L.
Format: Policy Research Working Paper
Language:English
en_US
Published: World Bank, Washington, D.C. 2013
Subjects:
ACCOUNTING
ACCOUNTING FRAMEWORK
ADVERSE CONSEQUENCES
BID
BONDS
BORROWING COSTS
CAPITAL FLOWS
CAPITAL MARKETS
CAPITALIZATION
CONSOLIDATION
COST OF CAPITAL
DEBT
DIVIDENDS
DOMESTIC MARKET
EMERGING MARKETS
EXCHANGE RATES
FINANCIAL MARKETS
FINANCIAL REFORM
FINANCIAL SECTOR
FINANCIAL SYSTEMS
FOREIGN CURRENCY
FOREIGN DIRECT INVESTMENT
FOREIGN FIRMS
FOREIGN INVESTORS
FOREIGN OWNERSHIP
GDP
GDP PER CAPITA
GROSS DOMESTIC PRODUCT
INCOME
INFLATION
INFLATION RATE
INTEREST RATES
INTERNATIONAL BANKS
INTERNATIONAL MARKETS
INTERNATIONALFIRMS
INVESTMENT BANKING
INVESTMENT BANKS
LIQUIDITY
LOCAL CAPITAL MARKETS
MACROECONOMIC PERFORMANCE
MACROECONOMIC POLICIES
MACROECONOMIC STABILITY
MACROECONOMICS
MERGERS
MIGRATION
NASDAQ
NYSE
OFFERINGS
PRICE INCREASES
PRIVATIZATION
RESOURCE MOBILIZATION
SETTLEMENT SYSTEMS
SPREAD
STOCKS
TRANSITION ECONOMIES
TURNOVER
UNDERESTIMATES
VALUATION
VOLATILITY
WEALTH STOCK MARKETS
EMERGING ECONOMIES
INTERNATIONAL FINANCIAL INSTITUTIONS
TRADING
ECONOMIC GROWTH
PER CAPITA INCOME
MACROECONOMIC POLICY
LEGAL SYSTEMS
SHAREHOLDING STRUCTURE
CAPITAL TRANSACTIONS
CAPITAL MOBILIZATION
Online Access:http://documents.worldbank.org/curated/en/2002/03/1752444/explaining-migration-stocks-exchanges-emerging-economies-international-centers
http://hdl.handle.net/10986/14814

Internet

http://documents.worldbank.org/curated/en/2002/03/1752444/explaining-migration-stocks-exchanges-emerging-economies-international-centers
http://hdl.handle.net/10986/14814

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