| Wogart 2008 |
Issues of International Finance in Developing Countries
Making Finance effective for Development - Part 2 |
| Inhalt: |
Simultaneously with the liberalization of the banking system, stock and bonds markets were developed, but suffered blows from speculation and insider trading. On the other hand, such financing vehicles as leasing and venture capital, have become quite successful, but will require better regulation and supervision.
HINWEIS: Der Vortrag ist in englischer Sprache. Das Skript zum Vortrag umfasst 5 Seiten Text.
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| Skriptauszug: |
Although some of the larger developing countries have had security markets for well over 50 years, most of them have remained rather passive until recently. There were no corporate bonds and most of the treasury bills were short term. Few firms had issued public-held equity. Earlier observers saw the slow development of stock and bond markets as classical example of market failure with public and existing financial institutions unwilling or unable to take any risk in what they saw as a narrow and manipulated market. The answer was more burdensome rules and regulations, which hampered transactions even more.
As financial liberalization set in, those markets took off, and the leading analysts maintained that the issue with the earlier problems was macroeconomic instability and the missing institutional structure. Examples of that missing infrastructure, many of which were instituted with the financial reforms and liberalization, were unclear property rights, lack of indepe... |
| Stichwörter: |
Internationale Finanzierung Entwicklungsländer Schwellenländer Finanzsysteme Lateinamerika Asienkrise Kleinstkredite Mikro-Finanzierung Bretton Woods Institutionen Internationaler Währungsfond Weltbank Vortrag |
| Referent: |
Dr. Jan-Peter Wogart (Hochschule Bremen) |
| Länge: |
14.50 Minuten |
| Format: |
RealMedia (RealNetworks RealOne Player) |
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Literaturhinweise: |
The World Bank and The Oxford University Press, „Globalization and national financial systems“ (Edited by James A. Hanson, Patrick Honohan and Giovanni Majnoni); Washington D. C.; 2003; ISBN 0-8213-5208-3 |
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The International Monetary Fund, „Finance and Development“; Washington; ISSN 0015-1947 |
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Latin Finance Magazine, „Latin America“ Coral Gables (U. S.) |
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A collection of Research Papers by Members of the Staff of the International Monetary Fund, „The Monetary Approach to the Balance of Payments“; Washington D. C.; 1977 |
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J. D. von Piscke, „Finance at the Frontier – Debt Capacity and the Role of Credit in the Private Economy“; Washington D. C.; 1991; ISBN 0-8213-1818-7 |
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The Asian Development Bank / ADB Institute, „Asia: Responding to Crises“ |
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