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The global growth of mutual funds, Volume 1
Author:Fernando, Deepthi; Klapper, Leora; Sulla, Victor; Vittas, Dimitri; Country:World;
Date Stored:2003/07/08Document Date:2003/05/31
Document Type:Policy Research Working PaperSubTopics:Economic Theory & Research; Financial Intermediation; International Terrorism & Counterterrorism; Non Bank Financial Institutions; Infrastructure Finance; Payment Systems & Infrastructure
Language:EnglishMajor Sector:Finance
Region:The World RegionReport Number:WPS3055
Sub Sectors:Capital marketsCollection Title:Policy, Research working paper ; no. WPS 3055
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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