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Asian Equity Markets; Growth, Opportunities, and Challenges

Author

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

Abstract

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.

Suggested Citation

  • Charles Frederick Kramer & Catriona Purfield & Hiroko Oura & Andreas Jobst, 2006. "Asian Equity Markets; Growth, Opportunities, and Challenges," IMF Working Papers 06/266, International Monetary Fund.
  • Handle: RePEc:imf:imfwpa:06/266
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    References listed on IDEAS

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    1. Swati R. Ghosh, 2006. "East Asian Finance : The Road to Robust Markets," World Bank Publications, The World Bank, number 7063, November.
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    Cited by:

    1. Dilip K. Das, 2014. "Growth, integration and trends in equity markets in Asia," Asia Pacific Business Review, Taylor & Francis Journals, vol. 20(2), pages 286-301, April.
    2. Tao Sun & L. Effie Psalida, 2009. "Spillovers to Emerging Equity Markets; An Econometric Assessment," IMF Working Papers 09/111, International Monetary Fund.
    3. Chayawadee Chai-Anant & Corinna Ho, 2008. "Understanding Asian equity flows, market returns and exchange rates," BIS Working Papers 245, Bank for International Settlements.
    4. Catriona Purfield, 2007. "India; Asset Prices and the Macroeconomy," IMF Working Papers 07/221, International Monetary Fund.
    5. Joyce Hsieh & Chien-Chung Nieh, 2010. "An overview of Asian equity markets," Asian-Pacific Economic Literature, Asia Pacific School of Economics and Government, The Australian National University, vol. 24(2), pages 19-51, November.
    6. 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.
    7. Helene Poirson Ward, 2007. "Financial Market Implications of India’s Pension Reform," IMF Working Papers 07/85, International Monetary Fund.
    8. Camilleri, Silvio John & Galea, Gabriella, 2009. "The Diversification Potential Offered by Emerging Markets in Recent Years," MPRA Paper 62491, University Library of Munich, Germany.

    More about this item

    Keywords

    Capital markets; Equity markets; Financial stability; Financial integration; International capital markets; International financial markets; Stock markets; Asian financial markets; equity derivatives; stock market; stock exchange; derivative;

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