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Institutional and Market Drivers towards a European Capital Markets Union

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  • Julia Stefanova
  • Tsvetoslav Stoev

Abstract

The main purpose of this paper is to make an overview of the development of the institutional and market framework toward the full integration of the EU capital markets. It analyzes the progress at EU level for overcoming the still fragmented capital markets in the aftermath of the global financial and economic crisis and the current initiative for the creation of EU capital markets union. Besides, our paper evaluates the market factors driving the creation of a pan-European capital market during the last fifteen years.

Suggested Citation

  • Julia Stefanova & Tsvetoslav Stoev, 2015. "Institutional and Market Drivers towards a European Capital Markets Union," Revista de Economie Mondiala / The Journal of Global Economics, Institute for World Economy, Romanian Academy, vol. 7(1).
    • Handle: RePEc:iem:journl:v:7:y:2015:i:1:id:2822000009341039
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    File URL: http://www.iem.ro/rem/index.php/REM/article/view/195/230
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    References listed on IDEAS

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    1. Kelly, Roger, 2011. "The performance and prospects of European Venture Capital," EIF Working Paper Series 2011/09, European Investment Fund (EIF).
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    More about this item

    Keywords

    European Union (EU); capital markets; European financial integration;
    All these keywords.

    JEL classification:

    • G15 - Financial Economics - - General Financial Markets - - - International Financial Markets
    • G18 - Financial Economics - - General Financial Markets - - - Government Policy and Regulation
    • G23 - Financial Economics - - Financial Institutions and Services - - - Non-bank Financial Institutions; Financial Instruments; Institutional Investors

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