Emerging Stock Markets in Hostorical Perspective: A Research Agenda
AbstractThis paper surveys the recent empirical literature on emerging stock markets of the last quarter of the 20th century and elaborates on its theoretical insights and empirical methods to design a research agenda on the â€œemergenceâ€ of equity markets in European peripheries before 1913. We present some preliminary evidence, both qualitative and quantitative, on the timeline and patterns of stock market emergence. The cases of the Madrid and several South-East European stock exchanges (Vienna, Belgrade, Bukarest, Sofia, Athens, and Istanbul) are used to exemplify. In the second part of the paper, we focus on three key empirical issues which should be addressed by financial historians: the determinants of stock market development, the realized return on market indices, and the specific characteristics (higher volatility, persistence, non-normality) of returns.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoPaper provided by CHERRY, c/o Department of Economics, University of York in its series Centre for Historical Economics and Related Research at York (CHERRY) Discussion Papers with number 11/03.
Date of creation: May 2011
Date of revision:
Contact details of provider:
Postal: c/o Sue Bowden, Department of Economics and Related Studies, University of York, York, YO10 5DD, United Kingdom
Phone: (0)1904 323776
Fax: (0)1904 323759
Web page: http://www.york.ac.uk/res/cherry/
More information through EDIRC
This paper has been announced in the following NEP Reports:
- NEP-ALL-2011-06-04 (All new papers)
- NEP-FMK-2011-06-04 (Financial Markets)
- NEP-HIS-2011-06-04 (Business, Economic & Financial History)
You can help add them by filling out this form.
reading list or among the top items on IDEAS.Access and download statistics
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Doriana Delfino) The email address of this maintainer does not seem to be valid anymore. Please ask Doriana Delfino to update the entry or send us the correct address.
If references are entirely missing, you can add them using this form.