The Future of Domestic Capital Markets in Developing Countries

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   Washington, D.C. The Future of Domestic Capital Markets in Developing Countries    Washington, D.C.  .    .  Editors ABOUT BROOKINGS The Brookings Institution is a private nonprofit organization devoted to research, education , and publication on important issues of domestic and foreign policy. Its principal purpose is to bring knowledge to bear on current and emerging policy problems. The Institution maintains a position of neutrality on issues of public policy. Interpretations or conclusions in Brookings publications should be understood to be solely those of the authors. Copyright © 2003 THE BROOKINGS INSTITUTION 1775 Massachusetts Avenue, N.W., Washington, D.C. 20036 www.brookings.edu All rights reserved 9 8 7 6 5 4 3 2 1 The paper used in this publication meets minimum requirements of the American National Standard for Information Sciences—Permanence of Paper for Printed Library Materials: ANSI Z39.48-1992. Typeset in Adobe Garamond Composition by Circle Graphics Columbia, Maryland Printed by Victor Graphics Baltimore, Maryland Library of Congress Cataloging-in-Publication data The future of domestic capital markets in developing countries / Robert E. Litan, Michael Pomerleano, V. Sundararajan, editors. p. cm. Includes bibliographical references and index. ISBN 0-8157-5299-7 (pbk. : alk. paper) 1. Capital market—Developing countries. 2. Capital market—Government policy—Developing countries. 3. Capital market— Law and legislation—Developing countries. I. Litan, Robert E., 1950– II. Pomerleano, Michael. III. Sundararajan, Vasudevan. IV. Title. HG5993.F87 2003 332'.041'091724—dc22 2003015766 ...