TY - BOOK ID - 80732699 TI - Brazil’s Capital Market : Current Status and Issues for Further Development AU - Park, Joonkyu. AU - International Monetary Fund PY - 2012 SN - 22278885 SN - 9781475589146 147558914X 9781475510256 147551025X 9781475547818 1475547811 1475528795 PB - Washington, D.C. : International Monetary Fund, DB - UniCat KW - Capital market KW - Capital markets KW - Market, Capital KW - Finance KW - Financial institutions KW - Loans KW - Money market KW - Securities KW - Crowding out (Economics) KW - Efficient market theory KW - E-books KW - Capital KW - Finance: General KW - Investments: Bonds KW - Industries: Financial Services KW - Financial Markets and the Macroeconomy KW - International Financial Markets KW - Financial Institutions and Services: Government Policy and Regulation KW - Financing Policy KW - Financial Risk and Risk Management KW - Capital and Ownership Structure KW - Value of Firms KW - Goodwill KW - General Financial Markets: General (includes Measurement and Data) KW - Pension Funds KW - Non-bank Financial Institutions KW - Financial Instruments KW - Institutional Investors KW - Investment & securities KW - Securities markets KW - Mutual funds KW - Sovereign bonds KW - Bonds KW - Financial markets KW - Brazil UR - https://www.unicat.be/uniCat?func=search&query=sysid:80732699 AB - Capital market development in Brazil is a key policy issue going forward to foster savings, investment and absorptive capacity in a context of prospects for sizable capital flows in the medium term. During the last decade, Brazil has achieved substantial progress in capital market development. The menu of available financial instruments has been expanded, market infrastructure has been reformed and strengthened, and a diversified investor base has been built. Nonetheless, Brazil’s capital markets are still facing a number of challenges including prevalent short-term indexation, investors’ risk aversion to long-term fixed rate bonds, still low liquidity in the secondary market, and managing the role of BNDES. A shift to a lower yield curve environment should continue to gradually take place. But further progress will require continued policy effort to assure macro stability and financial sector reforms to promote the development of longer-term private finance. ER -