With few exceptions, mainly in Asia,
mutual funds grew explosively in most countries around the
world during the 1990s. Equity funds predominated in
Anglo-American countries while bond funds predominated in
most of Continental Europe, and in middle-income countries.
Capital market development (reflecting investor confidence
in market integrity, liquidity, and efficiency) and
financial system orientation were the main determinants of
mutual fund growth. Restrictions on competing products acted
as a catalyst for the development of money market and
(short-term) bond funds.
Bibliographic Details
| Main Authors: |
Fernando, Deepthi,
Klapper, Leora,
Sulla, Victor,
Vittas, Dimitri |
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| Format: | Policy Research Working Paper
biblioteca
|
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| Language: | English
en_US |
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| Published: |
World Bank, Washington, DC
2003-05
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| Subjects: | GLOBAL ENVIRONMENT,
MUTUAL FUND RATING,
EQUITY FUNDS,
BOND OPTIONS,
MIDDLE-INCOME ECONOMIES,
CAPITAL MARKET,
INVESTOR CONFIDENCE,
MARKET INTEGRATION,
FINANCIAL SYSTEMS,
COMPETITIVENESS,
MONEY MARKET FUNDS ACCOUNTING,
ASSET MANAGEMENT,
ASSETS,
BANK DEPOSITS,
BANKING SYSTEMS,
BANKS,
BOND MARKETS,
BONDS,
CAPACITY BUILDING,
CAPITAL MARKET DEVELOPMENT,
CAPITAL MARKETS,
CHECKING ACCOUNTS,
COMMERCIAL BANKS,
CONTRACTUAL SAVINGS,
CORPORATE GOVERNANCE,
DEMAND FOR MONEY,
DEPOSIT ACCOUNTS,
DERIVATIVE MARKETS,
ELASTICITY,
EQUITY MARKETS,
EQUITY RETURNS,
EXPORTS,
FINANCIAL ASSETS,
FINANCIAL CRISIS,
FINANCIAL INSTITUTIONS,
FINANCIAL INSTRUMENTS,
FINANCIAL REGULATION,
GDP,
GLOBALIZATION,
GOVERNMENT BONDS,
GROWTH RATE,
INCOME,
INCOME ELASTICITY OF DEMAND,
INFLATION,
INFORMATION DISCLOSURE,
INSTITUTIONAL INVESTORS,
INSURANCE,
INSURANCE COMPANIES,
INSURANCE INDUSTRIES,
INTEREST RATE,
INTEREST RATES,
INVESTMENT COMPANY,
INVESTMENT DECISIONS,
LARGE SHAREHOLDERS,
LIFE INSURANCE,
LIFE INSURANCE COMPANIES,
LIQUIDITY,
LONG-TERM FUNDS,
MACROECONOMIC PERFORMANCE,
MONEY MARKET FUNDS,
MUTUAL FUND,
MUTUAL FUNDS,
NATIONAL INCOME,
PENSION FUNDS,
PENSION PLANS,
PENSIONS,
PER CAPITA INCOME,
PORTFOLIO DIVERSIFICATION,
PORTFOLIOS,
REGULATORY FRAMEWORK,
SAVINGS,
SAVINGS DEPOSITS,
SECURITIES,
SECURITIES MARKETS,
TAX REASONS,
TRANSPARENCY,
TRUSTS,
VALUATION,
WEALTH,
ACCOUNTING, |
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| Online Access: | http://documents.worldbank.org/curated/en/2003/05/2390969/global-growth-mutual-funds
http://hdl.handle.net/10986/18182
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