Reform: Capital Market Development for 2017 phase 2

On March 12 2018, the implementation of a capital market development strategy was evaluated during the second phase of ReforMeter. The greatest progress was achieved in the development of legislative frameworks.

According to the Government

Government research revealed that at this stage, 67.7% of the reforms have implemented. In Phase I, this indicator was 51%.

The government’s formal progress (at the input and output level) in the target reform area is measured through a survey covering the following four dimensions:

  1. Institutional Setup
  2. Capacity Building
  3. Infrastructure & Budgeting
  4. Legislation & Regulations

The sets of indicators are designed to track progress on each dimension towards the system envisioned in the reform strategy. They cover all fundamental actions that have to be executed to create an optimal environment that will help achieve all reform objectives. Completion of all actions indicates achievement of the desired policy framework.

The sets of indicators captured by the questionnaires are used to measure distance from the stated reform objective on a scale from 0% (no action has taken place) to 100% (all desired systems are fully implemented, monitored and evaluated).

The questionnaires are filled out twice a year through face-to-face interviews with representatives of all agencies involved in the implementation of a particular reform.