This study analyzes the key issues and constraints in terms of efficiency access and safety and soundness faced by east asian countries in developing their financial markets. The authors explore the relative efficiency of stock markets across countries using newly available data on transactions costs and the quality of the informational environment of stock markets these new measures are constructed from firm level stock returns in a panel of 60 countries for the period 2000 04. East asian finance the road to robust markets english abstract this study analyzes the key issues and constraints in terms of efficiency access and safety and soundness faced by east asian countries in developing their financial markets which are at different stages of development drawing on global experience. With 189 member countries staff from more than 170 countries and offices in over 130 locations the world bank group is a unique global partnership five institutions working for sustainable solutions that reduce poverty and build shared prosperity in developing countries. East asian finance the road to robust markets by swati r ghosh asian pacific economic literature asia pacific school of economics and government the australian national university vol 211 pages 72 73 may