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The Role of Stock Markets in the Asian‐Pacific Region
Author(s) -
Naughton Tony
Publication year - 1999
Publication title -
asian‐pacific economic literature
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.232
H-Index - 21
eISSN - 1467-8411
pISSN - 0818-9935
DOI - 10.1111/1467-8411.00048
Subject(s) - speculation , stock (firearms) , financial market , portfolio , stock exchange , volatility (finance) , stock market bubble , business , monetary economics , stock market , international economics , financial crisis , financial economics , economics , financial system , finance , geography , macroeconomics , context (archaeology) , archaeology
This paper identifies the role of stock markets in developing economies with a focus on the Asian‐Pacific region. The region’s markets generally do not play a major role in resource allocation. The stock exchanges of the region are primarily secondary markets facilitating portfolio construction by domestic and international investors. The paper concentrates on secondary market activity and the controls regulators use to contain excessive speculation and price volatility. It also covers the role of stock markets in the recent financial crisis in the region.