Argentina : Capital Market Assessment and Development Prospects

World Bank Group

World Bank, Washington, DC

关键词: CAPITAL MARKET;    CORPORATE FINANCE;    SME FINANCE;    HOUSING FINANCE;    INFRASTRUCTURE FINANCE;   

RP-ID  :  117059

学科分类：社会科学、人文和艺术（综合）

来源: World Bank Open Knowledge Repository

【 摘 要 】

This report represents a high-leveldiagnostic of the capital market in Argentina, its potentialfor corporate, SME and infrastructure financing, andproposed actions to unlock such potential, as well as therespective roles of financial authorities and marketparticipants. A detailed assessment of the government bondmarket was outside of the scope of the report. However itsimportance to support the development of the corporate bondmarket should be highlighted. The report’s findings arebased on discussions and information from keyrepresentatives of the public sector and a cross section ofmarket participants and other stakeholders. These includedrepresentatives from the Ministerio de Finanzas (MoF), theComisión Nacional de Valores (CNV), the Central Bank (CB),and the Unidad de Información Financiera (UIF). It also metwith representatives from the Mercado de Valores de BuenosAires (MERVAL), the Mercado Argentino de Valores (MAV) theMercado Abierto Electrónico (MAE), a sample of brokeragehouses, banks and fiduciary entities, the Fondo de Garantíade Sustentabilidad (FGS - ANSES), an insurance company, acredit rating agency, a sample of law firms, and a tax firm.The report is organized as follows:  Part One provides adescription of the state of development of the market, inparticular the supply and demand side. Part Two provides anassessment of critical factors that have an impact oncapital market development along with recommendations toaddress them. Parts Three, Four and Five provide a focusedanalysis of the use of capital markets for corporate, SMEand infrastructure financing.