Europe s Chimerical Capital Markets Union

I want to talk about it from the perspective of capital markets.

(ii) Access to capital markets and other sources of financing

Other models use principal agent behavior to explain momentum (herd behavior) in financial markets.

Greece and Ireland received funding when they were shut out of the capital market.

The fundamental problem was premature capital market liberalization.

The notion that capital markets could self regulate was decisively rejected.

South African firms have used their relatively lower cost of capital to invest in other African countries where capital markets were not developed.

The SOEs compete in product and labor markets with the private sector, but less so in capital markets.

quot (c) Problems of access to international capital markets and other sources of external finance

And their policy prescription is to make government more accountable, focus on the capital markets, invest, don't give anything away.

That connection will create the possibility for joint ventures, mergers and capital market cooperation.

Money Market Resistance

Privatization, by helping to mobilize savings and investment and to strengthen capital markets, can improve the access of small and medium sized enterprises to capital for their development. quot

The US also intends to strengthen capital market competitiveness and ensure that it remains an attractive environment for foreign investment.

Pushing for greater capital market liberalization after the debacle of the 1990 s will be controversial.

Development of capital markets needs to be supported through a series of reforms at various levels.

Prices set by financial markets are the right ones for allocating capital and other resources to their most productive uses .

Our capital markets are sufficiently sophisticated and sufficiently deep that most large corporations have plenty of alternative ways to find capital.

Moreover, banks are too dominant Asia (including Japan) accounts for more than half of the world s population but barely a quarter of global capital market capitalization.

Moreover, there is good reason to see inflows into emerging markets as an opportunity to strengthen domestic capital markets, rather than primarily as a threat to financial stability.

They were then punished for a few years by not having access to international capital markets.

International capital markets already have curtailed credit to these countries.

A further option would be to enhance the revenue raising powers of local authorities and their capacity to access capital markets.

Initial capital

Lacking well developed capital markets as an alternative source of credit, bank funding channels are especially vital in Asia.

At the same time, the qualified foreign institutional investors (QFII) scheme allowed licensed foreign entities to invest in domestic capital markets.

Five years after Enron and WorldCom, the capital markets are well into a cycle of unprecedented vigor.

African countries must restructure their domestic financial sectors and develop capital markets and non bank financial institutions.

Finally, local currency bond markets and, more generally, domestic capital markets in emerging economies must be explored further, in order to lengthen the tenure of financial flows.

A eurozone breakup (including a Greek exit and loss of access to capital markets for Italy and or Spain).

While they recognize that Asia s experience has been rather different, they tend to attribute that to dissimilar capital markets.

As in continental Europe, productivity has suffered from a combination of insufficient profitability and dysfunctional capital markets.

Sovereign obligations, such as bonds, are commonplace in the capital markets, and demonstrate strong investor demand and confidence.

Participant at a seminar on Capital Markets Development and Regulation at the International Law Institute (ILI), Washington, D.C., United States of America.

Recipient countries need to expand emerging domestic capital markets and strengthen the regulatory framework of financial systems.

You can oppose capital controls because you believe financial markets are on the whole a force for good, and that any interference will therefore generate efficiency losses.

The Art of Capital Flight

Damming Capital

The Capital Flow Conundrum

Capital flows and remittances

E. Financial capital and resilience

National Capital

Capital purchase items.

liabilities plus equity.