Central European Financial Markets from an EU Perspective, Theoretical Aspects and Statistical Analyses
EI Working Paper No. 34
Posted: 19 Dec 2008 Last revised: 10 Feb 2011
Date Written: 1999
Due to the fact that the European transition economies practically started from scratch in financial market development the size of financial markets in the CE-10 is significantly smaller with respect to GDP than in developed market economies. We can show by residual analysis that financial markets in the Czech Republic and Slovakia still need some restructuring. We also find that stock markets hardly contribute to economic prosperity, neither in the CE-10 nor in the EU.
Keywords: Financial markets, transition economies, Banking Stock Exchange
JEL Classification: G21, G28, P34, P43, P52
Suggested Citation: Suggested Citation