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At the same time rapidly developing capital markets will offer big companies an alternative way to raise money and put pressure on banks' lending margins.
Most important, it should allow borrowers to tap Mexico's developing capital markets more easily, while also helping the country's pension funds, which have long-term liabilities but few attractive long-term, local-currency assets in which to invest.
So far, none of these problems have deterred interest from investors in Poland's developing capital markets, or for that matter made the Polish government lose its nerve over its privatization plans.
The plenum conducted a midterm review of socioeconomic policies that had been adopted by the ninth national party congress in April 2001 and identified six priority goals: accelerating economic growth; developing capital, real estate, and labour markets; reducing poverty; gaining membership in the World Trade Organization; party building; and enhancing national defense and security.
Guidelines for capital and human resources were declared for most countries, but without explicitly providing metrics for developing capital and human resource inventories in many cases.
Ukrainian Government officials eliminated most tax and customs privileges in a March 2005 budget law, bringing more economic activity out of Ukraine's large shadow economy, but more improvements are needed, including fighting corruption, developing capital markets, and improving the legislative framework.
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In America, after all, we have sophisticated regulations, fair and enforceable laws, and highly developed capital markets.
This was because many companies were owned by families and also because a highly developed capital market was lacking.
Part of that money, from the federal government, was to help Russia develop capital markets and new commercial and civil laws.
"We're seeing that there's a big push to develop capital markets in this part of the world, to increase the investor pool and encourage more issuers," said Mr. Dawood.
Egypt is North Africa's most developed capital market; it even has a few mutual funds.
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