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Prospects And Challenges Facing Frontier Stock Markets In The Western Balkans: Quo Vadis?

Author

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  • STEFANOVA, St. Julia

    (Economic Research Institute at the Bulgarian Academy of Sciences.)

Abstract

The aim of the research paper is to present empirical results on a tested framework of factors influencing selected frontier stock markets of the Western Balkan countries in their accession path to the European Union. These stock markets are juxtaposed with the frontier stock market of Bulgaria – a country full member of the EU in the course of 11 years now, thereby inferring important comparative conclusions. Based on the comparative analysis between the capital markets in Southern and Eastern Europe (including that of Bulgaria), the paper proposes tentative insights into the road ahead for future regional integration and financial development of the capital markets of the Western Balkans.

Suggested Citation

  • STEFANOVA, St. Julia, 2019. "Prospects And Challenges Facing Frontier Stock Markets In The Western Balkans: Quo Vadis?," Studii Financiare (Financial Studies), Centre of Financial and Monetary Research "Victor Slavescu", vol. 23(2), pages 6-31, June.
    • Handle: RePEc:vls:finstu:v:23:y:2019:i:2:p:6-31
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    References listed on IDEAS

    as
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    More about this item

    Keywords

    frontier stock markets; emerging stock markets; financial integration; financial development;
    All these keywords.

    JEL classification:

    • G10 - Financial Economics - - General Financial Markets - - - General (includes Measurement and Data)
    • G23 - Financial Economics - - Financial Institutions and Services - - - Non-bank Financial Institutions; Financial Instruments; Institutional Investors
    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation

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