Chapter

Globalization without Integration: International Considerations

Kathryn C. Lavelle

in The Politics of Equity Finance in Emerging Markets

Published in print November 2004 | ISBN: 9780195174090
Published online April 2005 | e-ISBN: 9780199835287 | DOI: http://dx.doi.org/10.1093/0195174097.003.0004
 Globalization without Integration: International Considerations

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The chapter explores both the role of international organizations in promoting equity market finance and the circumstances of the international market for equities, which make a local market necessary. It pays particular attention to the role of the International Finance Corporation (a part of the World Bank Group) in fostering convergence in the market for transnational equities. This market is really only available to large, multinational firms and sophisticated institutional investors. Hence, national or local markets become necessary for the creation of certain securities, particularly those associated with privatization programs.

Keywords: international organizations; International Finance Corporation; World Bank; convergence; institutional investors; multinational corporations; privatization; equity markets

Chapter.  7255 words.  Illustrated.

Subjects: Economic Development and Growth

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