Practical Guide on the Potential of Capital Markets Development in Small Economies

The World Bank, with support from authorities in the Western Balkans, has developed a practical guide for capital markets development in small economies. The guide supports the implementation of the Multi-Annual Action Plan for a Regional Economic...

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Main Author: World Bank Group
Format: Report
Language:English
Published: World Bank, Washington, DC 2019
Subjects:
Online Access:http://documents.worldbank.org/curated/en/397831562046607724/Practical-Guide-on-the-Potential-of-Capital-Markets-Development-in-Small-Economies
http://hdl.handle.net/10986/32067
id okr-10986-32067
recordtype oai_dc
spelling okr-10986-320672021-05-25T09:25:59Z Practical Guide on the Potential of Capital Markets Development in Small Economies World Bank Group CAPITAL MARKET DEVELOPMENT SMALL ECONOMY BOND MARKET MONEY MARKET EQUITY MARKET DERIVATIVES MARKET REGULATORY FRAMEWORK FINANCIAL INFRASTRUCTURE INTERNATIONAL CAPITAL MARKETS The World Bank, with support from authorities in the Western Balkans, has developed a practical guide for capital markets development in small economies. The guide supports the implementation of the Multi-Annual Action Plan for a Regional Economic Area in the Western Balkans Six by helping inform policy discussions around capital markets development, including to what extent capital markets have potential and should be given priority in the region and small economies more broadly. The practical guide aims to provide regulators and policymakers in small economies with an overview of the capital market development agenda and existing challenges. The guide aims to support policymakers and regulators of small economies identify general preconditions, key constraints, and areas of potential for development of local capital markets. A framework for analysis of preconditions and capital markets development has been developed to guide reforms in small economies. A pilot of the methodology in Serbia helped further advance the framework and adapt it to the realities that small economies face. The framework for analysis of the preconditions and capital markets is outlined in Annex two. The practical guide focuses on both necessary preconditions and on relevant specific issues in capital markets development. It includes an assessment of the macro-fundamental preconditions that need to be in place to make capital markets development possible, including macro-political stability, level of savings, the structure of corporate sector, the broader legal and regulatory framework (including insolvency law and tax law), the level of real interest rates, and the soundness of the banking sector. 2019-07-11T19:26:08Z 2019-07-11T19:26:08Z 2019 Report http://documents.worldbank.org/curated/en/397831562046607724/Practical-Guide-on-the-Potential-of-Capital-Markets-Development-in-Small-Economies http://hdl.handle.net/10986/32067 English CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank World Bank, Washington, DC Economic & Sector Work Economic & Sector Work :: Other Financial Sector Study Europe and Central Asia Serbia
repository_type Digital Repository
institution_category Foreign Institution
institution Digital Repositories
building World Bank Open Knowledge Repository
collection World Bank
language English
topic CAPITAL MARKET DEVELOPMENT
SMALL ECONOMY
BOND MARKET
MONEY MARKET
EQUITY MARKET
DERIVATIVES MARKET
REGULATORY FRAMEWORK
FINANCIAL INFRASTRUCTURE
INTERNATIONAL CAPITAL MARKETS
spellingShingle CAPITAL MARKET DEVELOPMENT
SMALL ECONOMY
BOND MARKET
MONEY MARKET
EQUITY MARKET
DERIVATIVES MARKET
REGULATORY FRAMEWORK
FINANCIAL INFRASTRUCTURE
INTERNATIONAL CAPITAL MARKETS
World Bank Group
Practical Guide on the Potential of Capital Markets Development in Small Economies
geographic_facet Europe and Central Asia
Serbia
description The World Bank, with support from authorities in the Western Balkans, has developed a practical guide for capital markets development in small economies. The guide supports the implementation of the Multi-Annual Action Plan for a Regional Economic Area in the Western Balkans Six by helping inform policy discussions around capital markets development, including to what extent capital markets have potential and should be given priority in the region and small economies more broadly. The practical guide aims to provide regulators and policymakers in small economies with an overview of the capital market development agenda and existing challenges. The guide aims to support policymakers and regulators of small economies identify general preconditions, key constraints, and areas of potential for development of local capital markets. A framework for analysis of preconditions and capital markets development has been developed to guide reforms in small economies. A pilot of the methodology in Serbia helped further advance the framework and adapt it to the realities that small economies face. The framework for analysis of the preconditions and capital markets is outlined in Annex two. The practical guide focuses on both necessary preconditions and on relevant specific issues in capital markets development. It includes an assessment of the macro-fundamental preconditions that need to be in place to make capital markets development possible, including macro-political stability, level of savings, the structure of corporate sector, the broader legal and regulatory framework (including insolvency law and tax law), the level of real interest rates, and the soundness of the banking sector.
format Report
author World Bank Group
author_facet World Bank Group
author_sort World Bank Group
title Practical Guide on the Potential of Capital Markets Development in Small Economies
title_short Practical Guide on the Potential of Capital Markets Development in Small Economies
title_full Practical Guide on the Potential of Capital Markets Development in Small Economies
title_fullStr Practical Guide on the Potential of Capital Markets Development in Small Economies
title_full_unstemmed Practical Guide on the Potential of Capital Markets Development in Small Economies
title_sort practical guide on the potential of capital markets development in small economies
publisher World Bank, Washington, DC
publishDate 2019
url http://documents.worldbank.org/curated/en/397831562046607724/Practical-Guide-on-the-Potential-of-Capital-Markets-Development-in-Small-Economies
http://hdl.handle.net/10986/32067
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