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Fifth Investor-Friendly Nation Among Emerging Markets
South Korea has claimed the fifth place in the list of investor-friendly nations among 30 leading emerging markets, according to the Washington-based Institute for International Finance (IIF).
The assessments published by the IIF suggested that Brazil, Chile, Mexico, South Korea, Philippines, and Turkey in particular are now implementing investor relations and data transparency programs that largely reflect best practices.
It assessed performances by the economies on 20 criteria, including investor relations and data transparency. It surveyed whether countries have formal investor relations programs, English-language Web sites and access to key policymakers.
Brazil scored the highest with 37 out of a maximum 38 points, followed by the Philippines with 35, Mexico with 34, Turkey with 33 and South Korea with 30.
China won just 3 points _ the second lowest of the 20 countries monitored _ and Russia just 4 points. The Dominican Republic was the lowest with only 2 points.
The IIF is the global association of financial institutions comprising more than 340 member institutions headquartered in over 60 countries operating across the world.
None of the countries meets all 20 criteria, the report said.
The report noted the web sites of South Korea's Ministry of Finance and Economy (MOFE), Bank of Korea, and the National Statistical Office as the primary sources of information to investors.
But it cited the lack of reciprocal links among them as an area for improvement, as well as teleconferencing with investors.
South Korea has achieved high levels of transparency, providing most data in a market-friendly format or by request, said the report.
"However, room for improvement still exists, particularly in the provision of time series for the financing component of central government operations and an amortization schedule for Korea's external debt," it said.
Josef Ackermann, chairman of the IIF's Board of Directors said, "A growing number of sovereign emerging market issuers are recognizing the need to develop systematic communication channels with the global financial marketplace."
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