Some aspects of the development of capital markets

Abstract

The present article proposes to look at the problem of capital market development from the point of view of the “users” of investible funds, which necessarily leads to considering the possibility of institutional innovation and/or extension as a means both of assisting in the formation of saving and of its allocation between alternative uses. Consideration is also given to some of the difficulties “users” may encounter in obtaining access to financial resources. The author first goes over the basis of the analysis, reviewing the fundamental considerations related to the study of capital markets. The problems relating to the corporate sector are then analysed. The special problems of small and medium-sized enterprises are then taken up. Finally, the means of developing a broader and more active capital market are considered.

JEL: E51, G10