Colombia advanced to the quarter final of Copa America last week, and looks like a contender for the final win, too. But in terms of its capital market development, it would get sent home in the qualifying rounds.
Meanwhile, the Colombian equity market experienced significant growth, with market capitalization increasing from 34% of gross domestic product (GDP) in 2005 to 73% in 2012. Driving this rapid development were strong economic growth, development of the private pension system, increased interest from foreign investors, as well as large democratization programmes that produced a number of landmark initial public offerings and the development of a retail investor base.
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