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Equity and Private Debt Markets in Central America, Panama, and the Dominican Republic
Author:
Mr. Hemant Shah
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,
Mr. Jorge A Chan-Lau
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,
Mr. Geoffrey J Bannister
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,
Ana Carvajal
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Mr. Ivan S Guerra
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Series:
IMF Working Papers
Volume/Issue:
Volume 2007: Issue 288
Language:
English
Publication Date:
01 Dec 2007
DOI:
https://doi.org/10.5089/9781451868517.001
ISBN:
9781451868517
ISSN:
1018-5941
Pages:
130
Keywords:
WP; capital market; securities regulator; securities exchange; private sector; mutual fund; Central America; equity; debt; securitization; financial integration; capital market development; securities regulation; Costa Rica; Dominican Republic; El Salvador; Guatemala; Honduras; Nicaragua; Panama; commercial paper; market participant; insider trading; securities issuance; market maker; Securities; Stock markets; Securities markets; Capital markets; Mutual funds; Baltics; Global
Legal-disclaimer:
IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.
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This study focuses on equity, private debt, and asset-backed securities markets in Central America. These markets are generally under-developed throughout the region due to several structural problems, economic and political factors, and weaknesses in regulation and in institutional investor base. The paper identifies key country-specific recommendations to strengthen securities laws, regulatory oversight, market infrastructure, investor base, and new products such as asset-backed securities. Despite these efforts, developing seven viable private capital markets is a difficult goal. The paper thus also explores the benefits and difficulties of creating a single capital market in a region still short of full economic integration.
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Cover IMF Working Papers
IMF Working Papers
ISSN:
1018-5941
Publisher:
International Monetary Fund