Trade and Financial Market Reforms in ASEAN: Putting the Cart before the Horse?

1998 ◽  
Vol 14 (3) ◽  
pp. 224-237 ◽  
Author(s):  
William E. James
Keyword(s):  
Financial Market ◽  
Market Reforms ◽  
Financial Market Reforms

Financial Market Reforms in Nepal and Its Presence in South Asia

2016 ◽  
pp. 195-223
Author(s):  
Bishnu Prasad Gautam
Keyword(s):  
Financial Market ◽  
Financial Institutions ◽  
Financial Services ◽  
Growth And Development ◽  
Market Reforms ◽  
Policy Reforms ◽  
Economic Sectors ◽  
Economic Growth And Development ◽  
Macroeconomic Indicators ◽  
Financial Market Reforms

Financial market is the backbone of the economy, hence is crucial for the economic growth and development of any country. The financial sector also entails the seeds of financial crisis that can spill over across the rest of economy. Though the interaction between various economic sectors is crucial, it requires timely assessment of risks and redressed. This chapter attempts to capture the sequencing and implementation of financial market reforms in Nepal and briefly examine its consequences. The evidence confirms that reforms do not only mean the institutional and policy reforms but also manifests in terms of increase in the number of financial institutions, expansion in the outreach of financial services and products in terms of quality and quantity as well as improvement in the soundness of macroeconomic indicators. Finally, it argues for the continuation of reforms and consolidation in the financial markets to make the system resilient in changing contexts.

Financial market reforms and corporate financing in Korea

2010 ◽  
Vol 20 (21) ◽  
pp. 1659-1666 ◽  
Author(s):  
Tae-Joon Kim ◽  
Jai-Won Ryou ◽  
Shinji Takagi
Keyword(s):  
Financial Market ◽  
Market Reforms ◽  
Corporate Financing ◽  
Financial Market Reforms

Interdependence between Nordic stock markets and financial cooperation

2015 ◽  
Vol 14 (2) ◽  
pp. 172-188 ◽  
Author(s):  
Zhang Dengjun
Keyword(s):  
Financial Market ◽  
Stock Markets ◽  
Spillover Effects ◽  
Recursive Estimation ◽  
Market Reforms ◽  
Content Type ◽  
Financial Cooperation ◽  
Long Run ◽  
Short Run ◽  
Financial Market Reforms

Purpose – This study aims to link the financial cooperation in the Nordic region and the interdependence between the stock markets in this area. The main emphasis is placed on the evolution of this interdependence as the financial integration was proceeding. Design/methodology/approach – Johansen’s cointegration technique and the exponential generalized autoregressive conditionally heteroskedastic model are applied to test the long-run and short-run interdependences, respectively, among Nordic stock markets. In particular, the recursive estimation approach is used to reveal the evolution of the interdependence between those markets. Findings – The existence of two cointegrations over the sample period indicates that the markets depend on each other to some extent. The recursive estimation of Johansen’s model further reveals that the interdependence had been greatly improving until late 2008. The interdependence between those markets is also confirmed convincingly by the short-term dynamics, noting that the spillover effects between most pairs of stock volatilities are witnessed in the empirical results. Practical implications – The findings show the dynamics of the long-run correlations between the Nordic stock markets, which imply the intrinsic response to the process of financial market reforms, the 2008 global financial crisis and the period after the crisis. The evidenced information about determinants of the interdependence between Nordic stock markets is sending strong signals to investors to enhance their investment strategies. Originality/value – Most of the existing studies have been restricted to the static long-run and/or short-run interdependence among those markets. However, this study contributes to the literature by investigating the dynamics of interdependence among the Nordic stock markets over time; moreover, the evolution of the market interdependence is sketched closely to the process of the regional financial market reforms.

scholarly journals An Empirical Study of Private Saving in Brazil

2003 ◽  
Vol 23 (1) ◽  
pp. 124-137 ◽  
Author(s):  
CLAUDIO PAIVA ◽  
SARWAT JAHAN
Keyword(s):  
Fiscal Policy ◽  
Empirical Study ◽  
Empirical Analysis ◽  
Latin American ◽  
Financial Market ◽  
Market Reforms ◽  
Private Saving ◽  
Private And Public ◽  
Additional Support ◽  
Latin American Countries

ABSTRACT This paper provides an empirical analysis of the determinants of private saving in Brazil during 1965-2000. Our estimates indicate that the degree of offset between private and public saving is relatively high, in line with evidence for other Latin American countries, although it may have started to decline in recent years. In any case, fiscal policy is identified as one of the main instruments to promote the much needed increase in national saving in Brazil. Additional support to savings could come from continued financial market reforms and trade diversification.

External Factors of Big Business Transformation in Russia

2005 ◽  
pp. 72-89 ◽  
Author(s):  
Ya. Pappe ◽  
Ya. Galukhina
Keyword(s):  
Financial Market ◽  
Capital Market ◽  
Business Groups ◽  
External Factors ◽  
Big Business ◽  
Business Transformation ◽  
Global Standards ◽  
The World ◽  
Principal Subject

The paper is devoted to the role of the global financial market in the development of Russian big business. It proves that terms and standards posed by this market as well as opportunities it offers determine major changes in Russian big business in the last three years. The article examines why Russian companies go abroad to attract capital and provides data, which indicate the scope of this phenomenon. It stresses the effects of Russian big business’s interaction with the world capital market, including the modification of the principal subject of Russian big business from integrated business groups to companies and the changes in companies’ behavior: they gradually move away from the so-called Russian specifics and adopt global standards.

Market Reforms in Russia: Can the Vicious Circle Be Teared Open?

2004 ◽  
pp. 114-128
Author(s):  
V. Nimushin
Keyword(s):  
Economic Policy ◽  
Comparative Analysis ◽  
Historical Context ◽  
Vicious Circle ◽  
Modern World ◽  
Market Reforms ◽  
Main Task ◽  
Forward Movement ◽  
Socially Responsible ◽  
The Way

In the framework of broad philosophic and historical context the author conducts comparative analysis of the conditions for assimilating liberal values in leading countries of the modern world and in Russia. He defends the idea of inevitable forward movement of Russia on the way of rationalization and cultivation of all aspects of life, but, to his opinion, it will occur not so fast as the "first wave" reformers thought and in other ideological and sociocultural forms than in Europe and America. The author sees the main task of the reformist forces in Russia in consolidation of the society and inplementation of socially responsible economic policy.

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