Article at a glance:

Building world-class capital markets

• Countries around the world increasingly understand that thriving capital markets and strong economic growth are related.
• The vital components of capital markets include a sound infrastructure, robust regulation, a good reputation, and high performance standards, but vision and political commitment make the difference between success and failure.
• Vision and political commitment call for leaders with the stature, the authority, and the skill to assemble teams, to build consensus among diverse groups, and to promote the benefits of capital markets.
• Three key requirements are clear objectives, a robust regulatory framework, and active steps to develop the market once a new regime has been established.