Corporate Bonds as Financing Vehicle in Central- and Eastern Europe
Proceedings of the 11th Annual Conference on Marketing and Business Strategies for Central and Eastern Europe, Vienna, 2003
Posted: 19 Dec 2008 Last revised: 10 Feb 2011
Date Written: 2003
The aim of the paper is to discuss the use of corporate bonds in financial strategies in Central and Eastern Europe (CEE) and repercussions to the transition progress. We provide empirical data on the growing use of corporate bonds in CEE, discuss the level of development of the domestic corporate bond markets and the implications for company finance and the transition process. We argue that the comparatively low level of development of the domestic corporate bond markets may create impediments to economic growth during the continuing transition in the CEE. We discuss future prospects for CEE bond markets, the relationship to foreign direct investment and bank loans, and changes in financial strategies.
Keywords: Transition Progress, Financial Strategies, Corporate Bonds, FDI, Central European Countries
JEL Classification: E44, F15, F33, F36, G12, G15, G21, P34, O16, O57
Suggested Citation: Suggested Citation