The Stock Market System for National Development
The stock market culture has dawned on the Dominican Republic. This Caribbean island strives to awake from centuries of poverty and a weak economy, to a modern nation with a prosperous people. Democracy has proven to be the backbone of rapid economic development of the country, and the elected President’s recent statement in support of local stock market development is most significant.
The fertile valleys of the Dominican Republic have been traditional strongholds of crops such as coffee, sugarcane and tobacco, which the country exports in significant quantities. Tourism has registered a sharp growth of late, and the government has added to the kitty of GDP with free trade zones. The United States is the principal trading partner of this country.
The stock market structure is conducive not just for the Dominican Republic, but for other emerging economies as well. It helps the free development of private enterprise, and allows foreign investors to participate in a country’s well-being and development. The Bond market enables Governments to participate in the fund sourcing movement as well. A well-regulated stock market system will stimulate world confidence in the economy of the Dominican Republic.
Countries such as India have experienced tremendous commercial and financial benefits from the stock market system. The opportunity for democratic ownership of equity fosters the best management practices, diligent deployment of resources, and wealth creation for all to share. Geometrically increased tax collections and the rapid creation of new jobs, are amongst the most eagerly sought benefits from active stock market development.
The interest of the President of the Dominican Republic in the stock market structure as a means to build further on his country’s economy is good news for U.S. investors as well. Prospects of participating in exciting ventures on the sunny island blend very well with possibilities for U.S. companies to use the free trade zones in the country as launching pads for better business all over Latin America. Perhaps, a major U.S. stock market can take the lead to establish a modern satellite operation in the Dominican Republic.