Table of contents for Emerging capital markets and globalization : the Latin American perspective / Augusto de la Torre and Sergio L. Schmukler.

Bibliographic record and links to related information available from the Library of Congress catalog.

Note: Contents data are machine generated based on pre-publication provided by the publisher. Contents may have variations from the printed book or be incomplete or contain other coding.


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Table of Contents
Chapter 1 ¿ Whither Capital Market Development?
1. Introduction										4
2. Why Does Financial Development Matter?					8
3. Evolution and Globalization of Capital Markets					11
 3.1. Main Developments in International Capital Markets			12
 3.2. Developing Countries and the Globalization Process 			14
4. Main Developments in Domestic Capital Markets					16
5. Factors behind the Development and Internationalization of Capital Markets	19
6. Policy Implications									23
7. Final Remarks									24
References										27
Chapter 2 ¿ Developments in Capital Markets
1. Introduction										33
2. The Global Context									34
3. Developing Countries in the Global Context 					37
	3.1. How Global Trends Affected Developing Countries			37
	3.2. The Policy Response: Attract, Emulate, and Manage			39
 3.2.1. Attracting International Capital Flows				40
3.2.2. Emulating the Performance of Capital Markets 
 in Developed Countries						40
		3.2.3. Managing Volatile Capital Flows				41
	3.3. The Reforms								42
4. Developments in Domestic Capital Markets					45
	4.1. Comparative Trends in Domestic Capital Markets			46
	4.2. Main Features of Domestic Capital Markets Development		47
	4.3. Country Experiences: Chile and Mexico					54
		4.3.1. Chile								54
		4.3.2. Mexico								59
5. Participation in International Capital Markets					63
6. Final Remarks									67
Appendix 1: When Mark to Market Becomes Mark to Model			69
References										70
Chapter 3 ¿ Factors Behind the Development and Internationalization of Capital Markets
1. Introduction										74
2. Factors behind Capital Market Development					76
 2.1. The Role of Economic and Institutional Fundamentals			76
 2.2. The Impact of Reforms							85
3. Stock Market Internationalization							90
 3.1. Factors behind Internationalization					90			3.1.1. The Role of Economic and Institutional Fundamentals	90
 3.1.2. The Impact of Reforms						94
	3.2. The Impact of Internationalization on Local Stock Markets		95
4. Domestic Capital Market Development in Latin America				101
5. Final Remarks									103
References										104
Chapter 4 ¿ Whither the Reform Agenda?
1. Introduction										112
2. What Went Wrong and What to Do Next?						116
		2.1. Be Patient and Redouble the Effort				117
		2.2. Get the Sequence Right 						119
		2.3. Revisit Basic Issues and Reshape Expectations			123
3. Back to Basics 									125
		3.1. Financial Globalization						125
		3.2. Liquidity								128
		3.3. Risk Diversification						131
4. Final Remarks									135
Appendix: Regional Capital Markets Integration: A Viable Alternative?		138
References										141

Library of Congress Subject Headings for this publication:

Capital market -- Latin America.