The global growth of mutual funds
AbstractWith few exceptions, mainly in Asia, mutual funds grew explosively in most countries around the world during the 1990s. Equity funds predominated in Anglo-American countries while bond funds predominated in most of Continental Europe, and in middle-income countries. Capital market development (reflecting investor confidence in market integrity, liquidity, and efficiency) and financial system orientation were the main determinants of mutual fund growth. Restrictions on competing products acted as a catalyst for the development of money market and (short-term) bond funds.
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Bibliographic InfoPaper provided by The World Bank in its series Policy Research Working Paper Series with number 3055.
Date of creation: 31 May 2003
Date of revision:
Payment Systems&Infrastructure; Economic Theory&Research; Financial Intermediation; International Terrorism&Counterterrorism; Non Bank Financial Institutions; Economic Theory&Research; Financial Intermediation; Non Bank Financial Institutions; Infrastructure Finance; Infrastructure Finance;
This paper has been announced in the following NEP Reports:
- NEP-ALL-2004-08-16 (All new papers)
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