Chapter 8: Capital market development in emerging economies
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Capital market development is a central component of financing for development. Fundamentals required for their development include stable macroeconomic and strong institutional contexts. Development of market infrastructure and critical mass is also important. Supportive policy that is holistic and adaptive and that includes national development plans and detailed legislative and regulatory reform and engages institutional investors can successfully promote the development of capital markets. Their potential role is particularly important for green finance and middle-income countries.

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