In terms of participants, we do not have an unrestricted access to foreign investors in various markets and instruments. 6. Before addressing each of the above “missing” elements in our context, I would like to dwell a little on the conception of the “complete markets” and talk about a few accepted precepts related to financial markets that have been put to question post-crisis.
First, a country needs to ensure that it has the necessary human skills capable of competing effectively within the world economy. Second, a country would need to have an institutional arrangement that conforms to international standards.