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The Role of the Capital Market in the Economic Development

9 Pages Posted: 13 Dec 2006  

Ovidiu Stoica

Alexandru Ioan Cuza University - Faculty of Economics and Business Administration

Date Written: 2002

Abstract

Taking into account the apart role in the market economy, the capital market occupies an important place, through their specific mechanisms, succeeding to give its contribution to the economic development of the society. In consequence, the public authorities must notice the importance of the capital market in the national economy and, on the other hand, to make the efforts for insuring the necessary framework for the normal functioning of its specific mechanisms.

The valences of the capital could be even more interesting in the case of emerging markets - like the Romanian capital market - being well-known its contribution in reorienting financial resources to efficient activities, contributing to the economic reform, but also being interesting in the privatisation process.

Keywords: capital market, direct and indirect financing, primary and secondary market, role of capital market

JEL Classification: E44, G14, N20, O16

Suggested Citation

Stoica, Ovidiu, The Role of the Capital Market in the Economic Development (2002). Available at SSRN: https://ssrn.com/abstract=951278 or http://dx.doi.org/10.2139/ssrn.951278

Ovidiu Stoica (Contact Author)

Alexandru Ioan Cuza University - Faculty of Economics and Business Administration ( email )

Bd. Carol I no.22
Iasi, RO-700505
Romania

HOME PAGE: http://www.feaa.uaic.ro

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