This paper, on the Polish fixed-income securities market, reviews the recent evolution of the Polish fixed-income market and examines selected policy challenges ahead, with a special focus on the municipal bond market. The study demonstrates that despite some progress, by which Poland has made...

This paper, on the Polish fixed-income securities market, reviews the recent evolution of the Polish fixed-income market and examines selected policy challenges ahead, with a special focus on the municipal bond market. The study demonstrates that despite some progress, by which Poland has made...

In recent years, the countries of Europe and Central Asia (ECA) have experienced a marked decline in investments by international private operators/investors in local infrastructure-much in line with the trend observed in other emerging markets. This decline has been particularly significant in...

Intro -- Contents -- Acknowledgments -- Acronyms and Abbreviations -- Executive Summary -- 1. Key Impediments to Private Participation in Infrastructure in ECA -- Evolution of Private Participation in Infrastructure: Global Trends -- Private Participation in Infrastructure in ECA: Recent...

Massive privatizations of housing in Europe and Central Asia transition countries have significantly reduced rental tenure choice, threatening to impede residential mobility. Policymakers are intensifying their search for adequate policy responses aimed at broadening tenure choice for more...

The prospect of European integration presents huge opportunities and challenges for the development of non-bank financial institutions (NBFIs) in Ukraine. By most measures, the development of the NBFI sector in Ukraine lags far behind that of recent accession countries in Central Europe. To...

The purpose of this paper is to compare the European Union (EU) and United States (U.S.) securities regulations. In November 2007, the market in financial instruments directive 2004/39/EC (MiFID) came into force in the EU, and brought about deep changes in the market infrastructure. The same...

Subnational debt markets can be a powerful force in a country's development. Through delegated monitoring by financial intermediaries and through debt placed directly with investors, subnational debt markets account for about 5 percent of GDP in Argentina and Brazil. But they remain embryonic in...

This study reviews the recent developments in capital markets and institutional investors in Russia, and examines the policy challenges ahead for the development of the sector. The analysis covers key impediments for further development and policy challenges for securities markets, in particular...