Latin American Capital Markets

512 KENROY DOWERS, RUBEN LEE, AND ANTONIO VIVESAn important contribution of the chapten which further helps to integrate thekey areas that are developed, is that it emphasizes the importance of sequencing reformin line with developments in the real economy.The chapter ends with a discussionof practical considerations for policymakers (government, private sector, and multilateralinstitutions) that are involved in the process of capital market development.BibliographyAkamatsu, Noritaka. 2001. World Bank Operations for Capital Market Reform in Asia.Tokyo Roundtable (ADBI/OECD). Financial Sector Development Department,World Bank Washington, D.CBekaert, Geert, Campbell R. Harvey, and Christian T Lundbald. 2001. Does FinancialLiberalization Spur Growth? Social Science Research Network http://www.ssrn.com/.Black Bernard S. 2001. The Legal and Institutional Preconditions for Strong SecuritiesMarkets. John M. Olin Program in Law and Economics, Working Paper No. 179.Stanford Law School. University of California Los Angeles Law Review, Vol. 48, pp.781-858.Cadogan Financial. 1999. Rebirth and Development Perspectives for the Russian CapitalMarkets. Report prepared for the Centre for Capital Market Development, theWorld Bank and U.K. Department for International DevelopmentCampbell, John Y, and Kenneth A. Froot 1994. International Experiences with SecuritiesTransactions Taxes. Ch. 6 in Jeffrey A. Frankel (ed.), The Internationalization ofEquity Markets. NBER Project Report. Chicago: University of Chicago Press.Carmichael, Jeffrey, and Michael Pomerleano. 2002. The Development and Regulation ofNon-Bank Financial Institutions. World Bank Washington, D.C.Chown, John. 2000. Successful Tax Policies for Emerging Capital Markets. Oxford EconomicPolicy Ltd. www.oxford-policy.com/news.Claessens, Stijn.Thomas Glaessner, and Daniela Klingebiel. 2000. Electronic Finance: Reshapingthe Financial Landscape around the World. Financial Sector DiscussionPaper 4. World Bank Washington, D.C.Clayton, Matthew J., Bjorn Jorgensen, and Kenneth A. Kavajecz. 1999. On the Formationand Structure of International Exchanges. Working Paper Series, http://www.ssrn.com/.Copyright © by the Inter-American Development Bank. All rights reserved.For more information visit our website: www.iadb.org/pub