Promoting Global Financial Development: Vive La Difference!
Milken Institute Working Paper
32 Pages Posted: 7 Nov 2001
Date Written: November 2001
Abstract
This paper is based on the author's comments before the Group of 15 (G15) Conference "Cooperation among G15 Stock Market Exchanges - G15 Capital Markets: Challenges & Opportunities in the New World". The conference was hosted by the Ministry of Foreign Affairs in Egypt, and sponsored and organized by the Cairo & Alexandria Stock Exchanges. Dr. Trimbath addressed the topic of "Financial Crisis Management and Prevention Mechanisms" for banks and stock exchanges. The conference took place March 25 - 26, 2001 at the Semiramis Intercontinental Hotel, Cairo, Egypt.
Regulators and policy makers are coming to realize what capital market participants have known for a long time: When it comes to developing the financial institutions that provide the infrastructure for robust capital markets, there is no "one size fits all". This article provides a review of recent developments in economic and finance studies on the link between financial markets and economic growth. Significant advances in the development of stock exchange safety and infrastructure in G15 countries are included throughout the discussion by way of example. The focus on stock exchange development is highlighted by a discussion of new research on capital market integration.
Keywords: Financial Markets Regulation, Financial Institutions and Services, Development Planning and Policy, Capitalist Systems, Financial Architecture
JEL Classification: G18, G21, G24, G28, O21, P11
Suggested Citation: Suggested Citation
Do you have a job opening that you would like to promote on SSRN?
Recommended Papers
-
Electronic Finance: Reshaping the Financial Landscape Around the World
By Stijn Claessens, Thomas Glaessner, ...
-
E-Finance in Emerging Markets: Is Leapfrogging Possible?
By Stijn Claessens, Thomas Glaessner, ...
-
Contagion, Bank Lending Spreads, and Output Fluctuations
By Pierre-richard Agenor, Joshua Aizenman, ...
-
Contagion, Bank Lending Spreads and Output Fluctuations
By Pierre-richard Agenor, Joshua Aizenman, ...
-
The Role of Factoring for Financing Small and Medium Enterprises
-
Alternative Frameworks for Providing Financial Services Economic Analysis and Country Experiences
-
Electronic Security: Risk Mitigation in Financial Transactions - Public Policy Issues
By Thomas Glaessner, Tom Kellerman, ...
-
The Fed's Entry into Check Clearing Reconsidered
By Jeffrey M. Lacker, Jeffrey Walker, ...