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Scientific paper - Original scientific paper
Determinants of capital market in the new member EU countries
Economic research - Ekonomska istraživanja, 29 (2016), 1; 758-769. https://doi.org/10.1080/1331677X.2016.1197551
Olgić Draženović, Bojana; Kusanović, Tino

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Olgić Draženović, B. & Kusanović, T. (2016). Determinants of capital market in the new member EU countries. Economic research - Ekonomska istraživanja, 29. (1), 758-769. doi: 10.1080/1331677X.2016.1197551

Olgić Draženović, Bojana and Tino Kusanović. "Determinants of capital market in the new member EU countries." Economic research - Ekonomska istraživanja, vol. 29, no. 1, 2016, pp. 758-769. https://doi.org/10.1080/1331677X.2016.1197551

Olgić Draženović, Bojana and Tino Kusanović. "Determinants of capital market in the new member EU countries." Economic research - Ekonomska istraživanja 29, no. 1 (2016): 758-769. https://doi.org/10.1080/1331677X.2016.1197551

Olgić Draženović, B. and Kusanović, T. (2016) 'Determinants of capital market in the new member EU countries', Economic research - Ekonomska istraživanja, 29(1), pp. 758-769. doi: 10.1080/1331677X.2016.1197551

Olgić Draženović B, Kusanović T. Determinants of capital market in the new member EU countries. Economic research - Ekonomska istraživanja [Internet]. 2016 December 22 [cited 2024 May 13];29(1):758-769. doi: 10.1080/1331677X.2016.1197551

B. Olgić Draženović and T. Kusanović, "Determinants of capital market in the new member EU countries", Economic research - Ekonomska istraživanja, vol. 29, no. 1, pp. 758-769, December 2016. [Online]. Available at: https://urn.nsk.hr/urn:nbn:hr:192:123477. [Accessed: 13 May 2024]

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Metadata
Title (english)Determinants of capital market in the new member EU countries
AuthorBojana Olgić Draženović
AuthorTino Kusanović
Author's institutionUniversity of Rijeka
Faculty of Economics and Business
Scientific / art field,
discipline and subdiscipline		SOCIAL SCIENCES
Economics
Abstract (english)
The capital market is an important source of financing for viable investment projects and further economic development. Development of long-term financial markets is particularly important for transition EU countries, taking into account that stock markets in these countries did not start to operate until the mid-1990s. Despite legislation infrastructure quality, functional training and significant progress in market effectiveness, the capital market in many transition economies may be regarded as shallow, illiquid and nontransparent. At the same time, one can observe the strong development of ‘institutional saving’, i.e., financial development related to financial institutions like pension funds, investment funds, and insurance companies. The phenomenon of growth of institutional investors is especially important for capital markets in CEE transition countries, including the Republic of Croatia. The goal of this paper is to test the impulse of non-bank financial intermediaries’ development, and also the influence of implementing the above-mentioned structure reform on capital markets development in the selected transition countries. By applying a panel data approach on a sample of six CEE countries over the period between 1995 and 2010, we provide further evidence on the specific determinants of emerging European capital markets.
Keywords (english)
Languageenglish
Publication typeScientific paper - Original scientific paper
Publication statusPublished
Peer reviewPeer review
Publication versionPublished version
Journal titleEconomic research - Ekonomska istraživanja
Numberingvol. 29, no. 1, pp. 758-769
p-ISSN1331-677X
e-ISSN1848-9664
DOIhttps://doi.org/10.1080/1331677X.2016.1197551
URN:NBNurn:nbn:hr:192:123477
Publication2016-12-22
Document URLhttps://hrcak.srce.hr/171758
Type of resourceText
Access conditionsOpen access
Terms of useLicence Attribution 4.0 International (CC BY 4.0) icon
RepositoryRepository of the University of Rijeka, Faculty of Economics and Business
Created on2018-02-21 07:08:17