MARKET-BASED FINANCE: A NEW VISION OF ECONOMIC GROWTH AND FINANCIAL STABILITY

Organized in collaboration with the World Bank Group and the Toronto Center, this panel aims to have a better understanding of the pros and cons of market-based finance and the preconditions to support it. To this end, it identifies both past impediments and present challenges to achieve strong and stable capital markets.

In this context, an indicative set of questions that are going to be discussed are:

• How can capital markets enhance finance for governments, infrastructure, and the corporate sector, and what are the potential risks and rewards?
• What is the role of law, regulation, and practice in developing market-based finance vehicles?
• Can countries achieve less borrowing with more equity financing?
• Will more developed capital markets help promote financial stability?
• Can capital market products (e.g., derivatives) enable better risk management?