Full Article: PDF
Scientific Object Identifier: http://s-o-i.org/1.1/TAS-01-105-21
DOI: https://dx.doi.org/10.15863/TAS.2022.01.105.21
Language: English
Citation: Naurizbaev, A. (2022). The formation of capital markets. ISJ Theoretical & Applied Science, 01 (105), 352-357. Soi: http://s-o-i.org/1.1/TAS-01-105-21 Doi: https://dx.doi.org/10.15863/TAS.2022.01.105.21 |
Pages: 352-357
Published: 30.01.2022
Abstract: All central banks have a stake in the health and efficiency of capital markets. Capital markets are key funding sources for the real economy; they facilitate risk allocation and encourage economic growth and financial stability. The research addresses the process of establishing effective capital markets. It emphasizes the crucial importance of a strong enabling environment, which is defined by macroeconomic stability, market autonomy, sound legal frameworks, and effective regulatory regimes. Additionally, market development is influenced by drivers that are more directly related to specific capital market functions – such as enhanced disclosure standards, increased investor diversity, internationalisation, and deep hedging and funding markets, as well as efficient and robust market infrastructures. The suggestions, which span six broad categories, outline feasible measures for policymakers to bolster these drivers, while noting that some are beyond the purview of central banks.
Key words: capital market, securities, Central Bank, market capitalization, bond market.
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