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AALejournalIMF010574 |
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|c 15.00 USD
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|z 9781451947403
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|a 1020-7635
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|a BD-DhAAL
|c BD-DhAAL
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|a International Monetary Fund.
|b Research Dept.
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|a IMF Staff papers :
|b Volume 20 No. 2.
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| 264 |
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|a Washington, D.C. :
|b International Monetary Fund,
|c 1973.
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|a 1 online resource (328 pages)
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|a IMF Staff Papers
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|a <strong>Off-Campus Access:</strong> No User ID or Password Required
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|a <strong>On-Campus Access:</strong> No User ID or Password Required
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|a Electronic access restricted to authorized BRAC University faculty, staff and students
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|a Stock and bond issues and capital markets in less developed countries (LDCs) have recently received increasing attention from policymakers, and this preliminary study provides a cross-country survey of the actual experience of LDCs in this respect. Capital markets in LDCs are markedly underdeveloped, reflecting a combination of historical circumstances, current level of economic and financial development, and government policy-including inflation and low interest rates on government debt. Through its regulatory powers, the government can do much to reduce uncertainty (and, hence, risk). Supervising capital markets has several dimensions: preventing fraud; improving information; reducing transactions costs; and developing capital market techniques and institutions. Information on the Brazilian experience includes the fact that a strong, self-sustained capital market has not yet been established, despite the gains made. Tax incentives do provide a way of promoting capital market development, but the benefits of initial development must be judged in terms of the cost of tax receipts forgone.
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|a Mode of access: Internet
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|a IMF Staff Papers; IMF Staff Papers ;
|v No. 1973/002
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| 856 |
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|z Full text available on IMF
|u http://elibrary.imf.org/view/journals/024/1973/002/024.1973.issue-002-en.xml
|z IMF e-Library
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