Globalisation of Financial Markets

Contents: Preface. 1. Global economic environment and development of financial markets. 2. Studies on global financial markets. 3. Recent trends in financial markets: performance and policy perspective. 4. Foreign investments in emerging markets. 5. Capital market performance and financial reporting trade-offs. 6. Regulation of securities market and financial reporting. 7. Conclusion and suggestions. Bibliography. Index.

"The financial markets play a crucial role in economic development through saving-investment process, also known as capital formation. A vibrant and competitive financial market is necessary concomitant of trade and industrial policy liberalisation to sustain the ongoing reforms in the structural aspects of the real economy. The financial sector reforms have been undertaken in the emerging markets to improve the efficiency and stability of the financial system, and to integrate the national economy at the international level.

The recent liberalisation and globalisation measures in the global financial markets have opened up avenues for newer financial intermediaries like mutual funds, money market instruments, and pension funds, etc. The financial markets are increasingly being called upon to perform the task of financial innovations to meet the changing needs of the disintermediated market place. They are faced with the challenge of developing new financial instruments to help their clients cope with an increasingly volatile and uncertain market place.

The financial markets in India are taking shape for turbulent times and various intermediaries, market participants and institutions are gearing themselves to meet the challenges of change. There has been a dramatic change in the policy environment facing financial market and financial institutions bearing on their profile of activities, options available to raise resources and the disbursement of funds.

This book highlights the emerging issues in the globalisation of financial markets viz. the overall functioning and the performance of financial markets, regulatory framework or securities market and financial reporting and the role of foreign direct and portfolio investment in various emerging markets with particular reference to India.

This book would be of great help to the policy-planners, professionals, researchers, financial intermediaries and all those interested in the study of financial market developments at the global level." (jacket)