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Issues of Capital Market Reform
Issues of capital market reform

Since the 1997–98 Asian financial crisis, policymakers in emerging Asia have intensified efforts to restructure their financial sectors, which were hitherto dominated by banks and resulted in capital markets remaining less developed. Within the capital market, bond markets lagged the growth of equity markets. Ten years on, the issues confronting Asian finance have been addressed in varying degrees—banking systems were consolidated and reformed, capital markets strengthened and deepened, while the financial and corporate sectors have been restructured to reduce their vulnerability to financial crisis. Notwithstanding the progress achieved in developing capital markets in Asia, the issues of reform continued to be challenging.

These issues of capital market reform have been addressed in different ways in different jurisdictions ...

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