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Stock exchanges’ development in selected Danube Region EU member states: The way ahead

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  • Julia STEFANOVA

    (Economic Research Institute of the Bulgarian Academy of Sciences)

Abstract

The research paper will analyze the current state of development of the capital markets of selected Danube Region EU member states and will evaluate quantitative and qualitative economic indicators on these stock markets, as well as factors promoting their development. Neighboring countries have similar cultures and well-developed business relations. The expected positive external effects from deepened intra-regional cooperation processes are along the lines of economies of scale, diminishing market uncertainties, boosted liquidity and improved depth of capital markets.

Suggested Citation

  • Julia STEFANOVA, 2016. "Stock exchanges’ development in selected Danube Region EU member states: The way ahead," Romanian Journal of Economics, Institute of National Economy, vol. 42(1(51)), pages 97-138, june.
    • Handle: RePEc:ine:journl:v:42:y:2016:i:51:p:97-138
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    References listed on IDEAS

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    5. Luintel, Kul B. & Khan, Mosahid, 1999. "A quantitative reassessment of the finance-growth nexus: evidence from a multivariate VAR," Journal of Development Economics, Elsevier, vol. 60(2), pages 381-405, December.
    6. Ajit Singh, 1998. "Financial liberalisation, stockmarkets and economic development," Nova Economia, Economics Department, Universidade Federal de Minas Gerais (Brazil), vol. 8(1), pages 165-182.
    7. Katz, Michael L & Shapiro, Carl, 1985. "Network Externalities, Competition, and Compatibility," American Economic Review, American Economic Association, vol. 75(3), pages 424-440, June.
    8. Carmine di Noia, 1998. "Competition and Integration among Stock Exchanges in Europe: Network Effects, Implicit Mergers and Remote Access," Center for Financial Institutions Working Papers 98-03, Wharton School Center for Financial Institutions, University of Pennsylvania.
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    Cited by:

    1. STEFANOVA, Julia, 2015. "Problems And Challenges Facing The Capital Markets Of Bulgaria And Macedonia," Journal of Financial and Monetary Economics, Centre of Financial and Monetary Research "Victor Slavescu", vol. 2(1), pages 152-161.

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    More about this item

    Keywords

    stock markets development; European financial integration; regional cooperation;
    All these keywords.

    JEL classification:

    • G19 - Financial Economics - - General Financial Markets - - - Other
    • G23 - Financial Economics - - Financial Institutions and Services - - - Non-bank Financial Institutions; Financial Instruments; Institutional Investors
    • G29 - Financial Economics - - Financial Institutions and Services - - - Other

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