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Capital Markets Union And The Prospect For Bulgaria

Author

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  • Stefan Petranov

    (Faculty of Economics and Business Administration, Sofia University St Kliment Ohridski)

Abstract

The article examines one of the main initiatives of the European Commission for the new programming period from the point of view of the Bulgarian economy. Initially it sets out the context and the reasons driving this initiative and the difficulties and problems it will likely encounter during the implementation process. Then the article focuses on the analysis of Bulgaria’s readiness to benefit from this process and discusses the eventual impact of such union on the development of the Bulgarian economy. Particular attention is paid to the actions necessary to be taken to enable the country to fully utilize the opportunities that such a union could provide.

Suggested Citation

  • Stefan Petranov, 2018. "Capital Markets Union And The Prospect For Bulgaria," Yearbook of the Faculty of Economics and Business Administration, Sofia University, Faculty of Economics and Business Administration, Sofia University St Kliment Ohridski - Bulgaria, vol. 16(1), pages 217-230, December.
    • Handle: RePEc:sko:yrbook:v:16:y:2018:i:1:p:217-230
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    References listed on IDEAS

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    1. Thorsten Beck & Asli Demirguc‐Kunt & Luc Laeven & Ross Levine, 2008. "Finance, Firm Size, and Growth," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 40(7), pages 1379-1405, October.
    2. Gert Wehinger, 2012. "Bank deleveraging, the move from bank to market-based financing, and SME financing," OECD Journal: Financial Market Trends, OECD Publishing, vol. 2012(1), pages 65-79.
    3. Salvatore Capasso, 2006. "Stock Market Development and Economic Growth: A Matter of Information Dynamics," CSEF Working Papers 166, Centre for Studies in Economics and Finance (CSEF), University of Naples, Italy.
    4. Salvatore Capasso, 2006. "Stock Market Development and Economic Growth," WIDER Working Paper Series RP2006-102, World Institute for Development Economic Research (UNU-WIDER).
    5. Co-Pierre Georg, 2011. "Basel III ans Systemic Risk Regulation - What Way Forward?," Global Financial Markets Working Paper Series 17-2011, Friedrich-Schiller-University Jena.
    6. Ake Boubakari & Dehuan Jin, 2010. "The Role of Stock Market Development in Economic Growth: Evidence from Some Euronext Countries," International Journal of Financial Research, International Journal of Financial Research, Sciedu Press, vol. 1(1), pages 14-20, December.
    7. Agarwal, Sumit & Mohtadi, Hamid, 2004. "Financial markets and the financing choice of firms: Evidence from developing countries," Global Finance Journal, Elsevier, vol. 15(1), pages 57-70.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    European integration; capital markets union; bank financing; market financing; financial markets regulation; corporate governance;
    All these keywords.

    JEL classification:

    • G18 - Financial Economics - - General Financial Markets - - - Government Policy and Regulation
    • G23 - Financial Economics - - Financial Institutions and Services - - - Non-bank Financial Institutions; Financial Instruments; Institutional Investors
    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation
    • F36 - International Economics - - International Finance - - - Financial Aspects of Economic Integration
    • G34 - Financial Economics - - Corporate Finance and Governance - - - Mergers; Acquisitions; Restructuring; Corporate Governance

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