WAYS TO ENHANCE CAPITAL MARKET LIQUIDITY AT THE ASTANA INTERNATIONAL FINANCIAL CENTER

Background – One of economic indicators of a country is the capital market. Liquid capital market can attract investors, both foreign and domestic investors, to invest their ownership in that country, which in turn can improve the country’s economic growth. Aim – This research aims to examine the influence foreign ownership on stock market liquidity in Indonesia. Design / methodology / approach – This research splits foreign ownership into two groups, the first one is foreign ownership by financial institutions, and the second one is foreign ownership by non-financial corporations. The type of data used is panel data using fixed effect model (FEM). The technique for examining the influence of foreign ownership on liquidity used multiple regression analysis. Findings – The result found that foreign ownership by financial institutions and non-financial corporations negatively affect liquidity. The study also found a positively non-linear effect between foreign ownership by financial institutions to liquidity and a negatively non-linear effect between foreign ownership by non-financial institutions to liquidity. Research implication – This research can assist investors in determining investment in the Indonesian capital market by pay attention to variables such as foreign ownership, return, turnover, market capitalization and standard deviation. Limitation – The research period was short, which was only 21 months due to limited data and the research period that has passed too long, that is January 2012 to September 2013.

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Financial centers of new industrial countries in the world financial architecture

Galic'kij ekonomičnij visnik ◽

10.33108/galicianvisnyk_tntu2021.03.188 ◽

2021 ◽

Vol 70 (3) ◽

pp. 188-199

Author(s):

M. Savchenko ◽

L. Tsybrii

Keyword(s):

Hong Kong ◽

Exchange Rate ◽

Stock Market ◽

Open Economy ◽

Social Progress ◽

Financial Architecture ◽

The World ◽

Financial Center ◽

Definition Of ◽

International Financial Center

The views of scholars concerning the definition of «international financial center», which makes it possible to formulate the definition of international financial center essence are summarized in this paper. The factors influencing the formation of international financial center incluing: stable financial system, stable currency, exchange rate stability, political and social stability in the country, favorable geographical location, developed financial infrastructure, open economy for free movement of capital, etc. are identified. The role of international financial centers in increasing their global competitiveness, achieving higher levels of economic growth, prosperity and social progress is substantiated. The classification of international financial centers is investigated. The place of the Hong Kong Financial Center in the financial architecture of the world is determined. The main parameters of the current state of the Hong Kong Financial Center: the USD / HKD exchange rate, the effective exchange rate index weighted by trade, the Hang Seng index, market capitalization, etc. are diagnosed. SWOT-analysis of the Hong Kong Financia Cente is carried out in order to identify its strengths, weaknesses, opportunities and threats. Based on the results of the problem of its functioning, a set of measures to improve competitiveness is also proposed. Hong Kong has favorable macroeconomic and institutional environment, qualified personnel, and is the fifth most competitive international financial center in the world. However, there is a low degree of international element in the domestic stock market, there is also risk of losing the status of «international financial center», other regional economies that have greater access to international investment opportunities in the stock market, such as Singapore, may be a threat. The financial center should focus on overcoming the effects of the coronavirus, promote the share of foreign investment in the economy, take a set of measures to overcome the country's recession, review legal, regulatory and tax requirements to promote development, improve quality of life and attractiveness, and become Asia's leading currency hub.

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RMB Internationalization and Shanghai International Financial Center Construction Research

2012 Second International Conference on Business Computing and Global Informatization ◽

10.1109/bcgin.2012.111 ◽

2012 ◽

Author(s):

Liu Xilin

Keyword(s):

Financial Center ◽

International Financial Center ◽

Rmb Internationalization

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Switzerland as a International Financial Center

World Economy and International Relations ◽

10.20542/0131-2227-2008-11-88-94 ◽

2008 ◽

pp. 88-94

Author(s):

S. Batsunova

Keyword(s):

Financial Center ◽

International Financial Center

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Tokyo's Ultimately Failed Bid for First-Tier International Financial Center Status: Why Did It Fall Short?

Asian Economic Papers ◽

10.1162/asep_a_00287 ◽

2014 ◽

Vol 13 (3) ◽

pp. 1-25

Author(s):

Huw McKay

Keyword(s):

Timely Fashion ◽

Financial Center ◽

Japanese Yen ◽

International Financial Center

Tokyo's bid to ascend to the very top tier of international financial centers (IFCs) was ultimately unsuccessful. This paper argues that to overcome the large disadvantages of being a latecomer, the IFC goal must be elevated above other competing objectives so that the necessary intermediate steps can be achieved in timely fashion. The most important specific failing was the inability of the Japanese yen to become a major international vehicle currency. With a sharper and earlier policy focus, particularly in the area of yen trade invoicing, Tokyo's bid for first tier IFC status would have been a more compelling one.

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