This book contains 21 papers focusing on a wide range of issues concerning financial sector transition in the countries of Europe and Central Asia (ECA). It pla

This book addresses two different but related topics that can arise during the development of equity capital markets and which could possibly hinder their devel

Back in the early 1990s, economists and policy makers had high expectations about the prospects for domestic capital market development in emerging economies, p

Capital markets can improve risk sharing and the efficiency with which capital is allocated to the real economy, boosting economic growth and welfare. However,

Recent changes in technology, along with the opening up of many regions previously closed to investment, have led to explosive growth in the international movem