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The Role of Stock Markets in the Asian‐Pacific Region

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  • Tony Naughton

Abstract

This paper identifies the role of stock markets in developing economies with a focus on the Asian‐Pacific region. The region’s markets generally do not play a major role in resource allocation. The stock exchanges of the region are primarily secondary markets facilitating portfolio construction by domestic and international investors. The paper concentrates on secondary market activity and the controls regulators use to contain excessive speculation and price volatility. It also covers the role of stock markets in the recent financial crisis in the region.

Suggested Citation

  • Tony Naughton, 1999. "The Role of Stock Markets in the Asian‐Pacific Region," Asian-Pacific Economic Literature, The Crawford School, The Australian National University, vol. 13(1), pages 22-35, May.
  • Handle: RePEc:bla:apacel:v:13:y:1999:i:1:p:22-35
    DOI: 10.1111/1467-8411.00048
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    Cited by:

    1. Mohamed Ariff & J. Ratnatunga, 2008. "Do Accounting And Finance Tools Serve Governance?," CARF F-Series CARF-F-127, Center for Advanced Research in Finance, Faculty of Economics, The University of Tokyo.
    2. James D Sidaway & John R Bryson, 2002. "Constructing Knowledges of ‘Emerging Markets’: UK-Based Investment Managers and Their Overseas Connections," Environment and Planning A, , vol. 34(3), pages 401-416, March.

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