Securities Markets in Eurasia

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Central Asia's securities markets remain small-scale and underdeveloped. Building up well functioning securities markets will be essential to vitalising their economies. This publication contains an overview of securities markets in the region and selected country reports. It provides comprehensive data and analyses of securities markets in the region, updated to April 2005, addressing specifically effective measures to develop securities markets and infrastructure, especially the role of institutional investors and clearing and settlement systems; building investor confidence; and regulation and supervision of securities markets.



Financial Markets and Institutional Investors in Central Asia

The international financial markets have recently swayed widely due to a variety of unexpected problems such as the September 11, 2001 terrorism, a series of corporate scandals represented by Enron and WorldCom and, most recently, the Argentine collapse. Accordingly, the local bond markets in emerging economies in East Asia, Latin America and Eastern Europe have been exposed to sharply increased emerging market spreads, which amounted to more or less 1000 basis points in late 2001 and in the second half of 2002, now declining to 500 to 600 basis points.


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