Promoting Access To Primary Equity Markets: A Legal And Regulatory Approach

This paper examines legal and regulatory measures that can be taken to promote access to the primary market in emerging market economies. The authors identify the basic necessities that underpin a regulatory regime that is cost effective and strikes an appropriate balance between, on the one hand, laws and regulations that may be too restrictive to achieve a supply of capital and, on the other, those that may be so relaxed that investors feel that there is an unacceptable level of risk and do not care to venture into the market.