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Aspects Regarding The Development Of Bucharest Stock Exchange

Author

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  • Mirela MATEI

    () (Petroleum and Gas University of Ploiesti)

Abstract

Capital market in Romania is in a slow process of development, because the performances of the Bucharest Stock Exchange (BSE) are ranking it among the last ones in Europe. The causes of slow development of capital market and remain behind compared to other Eastern European markets are numerous and consist of: late establishment of the two parts of the capital market – stock exchange and OTC market, modest use of capital market in the privatization process of state-owned companies; compromise of investment funds after scandals with SAFI and FNI; delay reform of the pension system, withdrawal from Bucharest Stock Exchange of major companies such as Dacia Piteºti, Arctic Gãieºti or Terapia Cluj Napoca, using bank credit as financing method of Romanian companies. Products lunched by BSE must satisfy the requirements of local and foreign investors who were already accustomed to derivatives launched by the Financial and Commodities Exchange from Sibiu. In addition, Bucharest Stock Exchange should use the experience of major European and American ones that run large financial processes of innovation and launched contracts on weather, volatility indices, price indexes for real estate, etc.

Suggested Citation

  • Mirela MATEI, 2008. "Aspects Regarding The Development Of Bucharest Stock Exchange," Romanian Journal of Economics, Institute of National Economy, vol. 27(2(36)), pages 145-159, December.
  • Handle: RePEc:ine:journl:v:2:y:2008:i:36:p:145-159
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    File URL: http://www.revecon.ro/articles/2008-2/2008-2-10.pdf
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    References listed on IDEAS

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    1. Stijn Claessens, 2006. "Corporate Governance and Development," World Bank Research Observer, World Bank Group, vol. 21(1), pages 91-122.
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    Cited by:

    1. Valentina Vasile & Mirela Matei, 2010. "The Romanian Municipal Bond Market and the International Financial Crisis," Romanian Journal of Economics, Institute of National Economy, vol. 30(1(39)), pages 110-126, June.

    More about this item

    Keywords

    securities; derivatives; capital markets; development; integration; and financial innovation;

    JEL classification:

    • G15 - Financial Economics - - General Financial Markets - - - International Financial Markets
    • G34 - Financial Economics - - Corporate Finance and Governance - - - Mergers; Acquisitions; Restructuring; Corporate Governance

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