01774cas a2200241 a 4500 AALejournalIMF002457 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451853957 1018-5941 BD-DhAAL BD-DhAAL International Monetary Fund. Managing Risks in Financial Market Development : The Role of Sequencing. Washington, D.C. : International Monetary Fund, 2003. 1 online resource (37 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students This paper proposes an integrated and risk-based approach to the sequencing and coordination of reforms to develop domestic financial markets. The paper argues that there is a hierarchy of financial markets that reflects the complexity of risks in each market and the interlinkages among markets. On the basis of this hierarchy, a sequencing of market development and risk-mitigation measures is proposed to minimize both macroeconomic and financial risks. Capital account opening can complement (but not substitute for) domestic institutional and market reforms to support the growth of local financial markets. The paper also argues that domestic institutional investors are critical to market development and risk mitigation. Mode of access: Internet IMF Working Papers; Working Paper ; No. 2003/116 Full text available on IMF http://elibrary.imf.org/view/journals/001/2003/116/001.2003.issue-116-en.xml IMF e-Library