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Asian Equity Markets


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  • Charles Frederick Kramer
  • Catriona Purfield
  • Hiroko Oura
  • Andreas Jobst


Asian equity markets have grown significantly in size since the early 1990s, driven by strong international investor inflows, growing regional financial integration, capital account liberalization, and structural improvements to markets. The development of equity markets provides a more diversified set of channels for financial intermediation to support growth, thus bolstering medium-term financial stability. At the same time, as highlighted by the May-June 2006 market corrections, the increasing role of stock markets potentially changes the nature of macroeconomic and financial stability risks, as well as the policy requirements for dealing with these risks.

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Bibliographic Info

Paper provided by International Monetary Fund in its series IMF Working Papers with number 06/266.

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Length: 39
Date of creation: 01 Dec 2006
Date of revision:
Handle: RePEc:imf:imfwpa:06/266

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Postal: International Monetary Fund, Washington, DC USA
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Keywords: Financial stability; Stock markets; equity derivatives; equity markets; stock market; stock exchange; derivative; equity market; capital markets; equity securities; derivative markets; financial institutions; equity derivative; bonds; futures exchange; stock index futures; stock index; international capital markets; equity prices; derivatives markets; stock options; stock index options; stock market capitalization; bond; stock prices; portfolio investment; market bond; cost of capital; index futures; derivative exchanges; stock holdings; equity investment; financial sector; financial assets; international capital; financial markets; stock trading; derivatives market; equity investments; derivatives exchanges; new york stock exchange; financial futures; index options; capital account liberalization; financial systems; derivative products; equity funds; bond market; securities markets; government securities; international standards; global capital markets; mature markets; emerging stock markets; equity valuation; securities exchange; derivative contracts; financial system; capital market; capital market liberalization; equity capital; bond index; capital inflows; bond yields; hedging; equity security; stock exchanges; international financial futures; stock ownership; moral hazard; financial economics; stock returns; derivatives exchange; financial globalization; capital asset pricing model; future cash flows; hedging tools; deposit money banks; international financial markets; international securities; capital controls; cash flows; stock price; derivatives market activity; derivatives trading; capital asset pricing; stock price indices; financial futures exchange; securitization; stock index future; equity returns; financial market development; crowding out; foreign security; commodity prices; equity index futures; capital asset; market assets; domestic financial institutions; capital flows; deposit money; american stock exchange; stock market volatility; credit derivatives; interest rate derivatives; high-yield bonds; asset bubbles; financial intermediation; international financial statistics; valuation of asset; derivative market; national stock exchange; financial fragility; financial market;

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Cited by:
  1. Swati Ghosh & Ernesto Revilla, 2008. "Enhancing the efficiency of securities markets in East Asia," Macroeconomics and Finance in Emerging Market Economies, Taylor & Francis Journals, vol. 1(2), pages 249-268.
  2. Chayawadee Chai-Anant & Corinna Ho, 2008. "Understanding Asian equity flows, market returns and exchange rates," BIS Working Papers 245, Bank for International Settlements.
  3. Catriona Purfield, 2007. "India," IMF Working Papers 07/221, International Monetary Fund.
  4. Hélène Poirson, 2007. "Financial Market Implications of India's Pension Reform," IMF Working Papers 07/85, International Monetary Fund.
  5. Tao Sun & L. Effie Psalida, 2009. "Spillovers to Emerging Equity Markets," IMF Working Papers 09/111, International Monetary Fund.


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