Development of capital markets in member countries of the South Asian Association for Regional Cooperation

Development of capital markets in member countries of the South Asian Association for Regional Cooperation / Jennifer Romero-Torres, Stephen Wells, Susan Selwyn-Khan.

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Bibliographic Details
Main Authors: Romero-Torres, Jennifer (Author), Wells, Stephen (Author), Selwyn-Khan, Susan (Author)
Format: eBook
Language:English
Published: Manila, Philippines : Asian Development Bank, 2013.
Subjects:
South Asian Association for Regional Cooperation.
South Asian Association for Regional Cooperation
Capital market.
HISTORY > Asia > India & South Asia.
Capital market
Online Access:Click for online access
Table of Contents:
  • Cover
  • Contents
  • Foreword
  • Acknowledgments
  • Abbreviations
  • Glossary
  • Executive Summary
  • I. Introduction
  • A. Background and Purpose
  • B. Scope and Methodology of the Study
  • II. Capital Market Integration
  • A. Meaning of Capital Market Integration
  • B. Benefits of Integration
  • C. Opportunities and Challenges
  • D. Barriers
  • E. Models of Capital Market Integration
  • F. Capital Market Integration and Stock Exchanges
  • III. Overview of SAARC Capital Markets
  • A. Legal System
  • B. SAARC as an Economic Region
  • IV. Country ResultsA. Bangladesh
  • B. Bhutan
  • C. India
  • D. Maldives
  • E. Nepal
  • F. Pakistan
  • G. Sri Lanka
  • V. Cross-Regional Findings
  • A. Market Regulation
  • B. Market Abuse and Investor Protection
  • C. Issuer Regulation
  • D. Corporate Governance
  • E. Macroeconomic Regulations
  • VI. Analysis of Findings
  • A. Diversity of Size and Development
  • B. Similarity of Standards, Diversity of Compliance and Enforcement
  • C. Markets Closed to Foreign Companies
  • D. Markets Open to Foreign Brokers
  • E. Viability of Smaller Markets
  • F. Exchange Control Remains a ChallengeG. Limited Interest in SAARC as an Investment Destination
  • H. Limited Contact and Interaction within SAARC
  • I. Demutualization
  • VII. Implications for Harmonization and Integration
  • VIII. Ideas Leading to SAARC Capital Market Integration
  • A. Regional Markets or Instruments
  • B. Setting and Implementing Basic Common Standards
  • C. Greater Interchange of Ideas
  • IX. Conclusions
  • A. Capital Market Integration Is Likely to Bring Overall Benefits
  • B. Different Starting Points, Different Speeds, One Goal
  • X. RecommendationsA. Initiate a Program for Information Exchange, and Development and Formation of a Capital Markets Lobby
  • B. Formulate a Common Policy on Exchange Control Relaxation
  • C. Make Harmonization a Policy Aim and Set Basic SAARC Standards
  • D. Support Improvements in Regulator Capacity
  • E. Help Small Markets Develop Sustainable Business Strategies
  • F. Be Aware of and Support Private Sector Initiatives
  • G. Improve Commercial Imperatives and Skills in Stock Exchanges
  • H. Set Up a Regional Body to Support Capital Market Harmonization and Development

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