Stock Markets in Low and Middle Income Countries
This paper explores the question of whether the institution of the stock market is likely to be helpful to low and middle income countries in promoting development of their real economy and ensuring fast industrial growth. The case for and against the stock market inevitably involves a discussion of the important related subjects of corporate finance, corporate governance and corporate law. Contrary to the literature the paper arrives at a negative overall assessment of the institution of the stock market in relation to economic development. It also contributes by its policy proposals concerning the markets for corporate control which again are in conflict with much of the conventional wisdom on the subject.
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| Length: | |
| Date of creation: | Dec 2008 |
| Handle: | RePEc:cbr:cbrwps:wp377 |
| Note: | PRO-2 |
| Contact details of provider: | Web page: http://www.cbr.cam.ac.uk
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References listed on IDEAS
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- Jack Glen & Ajit Singh, 2005.
"Corporate Governance, Competition, and Finance: Re-thinking Lessons from the Asian Crisis,"
Eastern Economic Journal,
Eastern Economic Association, vol. 31(2), pages 219-243, Spring.
- Jack Glen & Ajit Singh, 2004. "Corporate Governance, Competition And Finance: Re-Thinking Lessons From The Asian Crisis," Working Papers wp288, Centre for Business Research, University of Cambridge.
- Ajit Singh, 2005. "Globalisation And The Regulation Of Fdi: New Proposals From The European Community And Japan," Contributions to Political Economy, Oxford University Press, vol. 24(1), pages 99-121, August.
- Klaus Gugler & Dennis C. Mueller & B. Burcin Yurtoglu, 2004. "Corporate Governance and Globalization," Oxford Review of Economic Policy, Oxford University Press, vol. 20(1), pages 129-156, Spring. Full references (including those not matched with items on IDEAS)