Emerging European countries have made large strides in developing their local capital markets since the early-1990s. However, the rate of development has been widely disparate across countries and market segments, underpinned by the varying degrees of progress made in key areas such as establishing pricing benchmarks, adopting, implementing and enforcing securities laws and regulations, encouraging the growth of an institutional investor base, and providing adequate trading infrastructure. This paper provides an overview of the trends in the region''s local capital markets, and examines the main factors that have contributed to their growth and effectiveness to date. It also discusses selected policy responses necessary to further improve the breadth and depth of these markets.and settlement systems are critical for maintaining market credibility and ensuring liquidity. ... participating in the Polish stock market have some information advantage over other investorsacompany managers tend to share positive news withanbsp;...
|Title||:||The Capital Markets of Emerging Europe|
|Author||:||Ms. Li L. Ong, Silvia Iorgova|
|Publisher||:||International Monetary Fund - 2008-04-01|