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The global growth of mutual funds, Volume 1
 
Author:Fernando, Deepthi; Klapper, Leora; Sulla, Victor; Vittas, Dimitri; Collection Title:Policy, Research working paper ; no. WPS 3055
Country:World; Date Stored:2003/07/08
Document Date:2003/05/31Document Type:Policy Research Working Paper
SubTopics:International Terrorism & Counterterrorism; Non Bank Financial Institutions; Payment Systems & Infrastructure; Economic Theory & Research; Infrastructure Finance; Financial IntermediationLanguage:English
Major Sector:FinanceRegion:The World Region
Report Number:WPS3055Sub Sectors:Capital markets
Volume No:1  

Summary: 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.

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