SOE listings have often been cited as the driver behind the rise of international capital markets. And indeed, the current capital markets landscape includes a significant share of SOEs — according to some calculations, SOPs account for about 13-22 percent of global market capitalization. However, looking behind the numbers, it seems that most SOE listings have taken place i advanced economies. Thus, with what confidence can we recommend SOE listings as a divestment solution to promote the development of local capital markets in emerging and developing economies?
