The Global Growth of Mutual Funds

Fernando, Deepthi ; Klapper, Leora ; Sulla, Victor ; Vittas, Dimitri

World Bank, Washington, DC

关键词: GLOBAL ENVIRONMENT;    MUTUAL FUND RATING;    EQUITY FUNDS;    BOND OPTIONS;    MIDDLE-INCOME ECONOMIES;   

DOI  :  10.1596/1813-9450-3055
RP-ID  :  WPS3055

学科分类：社会科学、人文和艺术（综合）

来源: World Bank Open Knowledge Repository

【 摘 要 】

With few exceptions, mainly in Asia,mutual funds grew explosively in most countries around theworld during the 1990s. Equity funds predominated inAnglo-American countries while bond funds predominated inmost of Continental Europe, and in middle-income countries.Capital market development (reflecting investor confidencein market integrity, liquidity, and efficiency) andfinancial system orientation were the main determinants ofmutual fund growth. Restrictions on competing products actedas a catalyst for the development of money market and(short-term) bond funds.