Asia's Debt Capital Markets

The Milken Institute Series on Financial Innovation and Economic Growth

Book 6
Springer Science & Business Media
1
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The Development of Effective Securities Markets Gary Schinasi International Monetary Fund One of the more important lessons of the crisis of the 1990s—^not just the Asian Crisis—is that the performance and structure of a country's financial system is an important fundamental factor for assessing that coimtry's overall economic performance and prospects, and as a destination for investment and asset returns. Market participants that are presently managing international portfolios now understand this very well. And as we all know, many countries are making strong efforts to reform their financial infrastructures, and move their financial systems more in the direction of a market-intermediated financial system and away from an exclusively bank-intermediated system. These reform efforts are putting in place some of the important infrastructure elements that are necessary for developing effective securities markets. However, emphasis should be placed on the word necessary: as many of these measures, and all of them taken together, are only necessary and not sufficient for estabUshing effective security markets.
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About the author

Frederik Pretorius & Berry HSU, Department of Real Estate and Construction, University of Hong Kong,

and

Arthur McInnes, Paul Lejot & Douglas Arner - Faculty of Law, City University of Hong Kong

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Additional Information

Publisher
Springer Science & Business Media
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Published on
Dec 11, 2006
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Pages
322
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ISBN
9780387250908
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Best For
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Language
English
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Genres
Business & Economics / Economics / Macroeconomics
Business & Economics / Finance / General
Business & Economics / General
Business & Economics / International / Economics
Business & Economics / International / General
Business & Economics / Management Science
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Content Protection
This content is DRM protected.
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In this timely manifesto, the authors of the New York Times bestseller Rework broadly reject the prevailing notion that long hours, aggressive hustle, and "whatever it takes" are required to run a successful business today.

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If you’ve ever bought a personal finance book, watched a TV show about stock picking, listened to a radio show about getting out of debt, or attended a seminar to help you plan for your retirement, you’ve probably heard some version of these quotes:

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For the past few decades, Americans have spent billions of dollars on personal finance products. As salaries have stagnated and companies have cut back on benefits, we’ve taken matters into our own hands, embracing the can-do attitude that if we’re smart enough, we can overcome even daunting financial obstacles. But that’s not true.

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