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Development of Exchange-Traded Derivatives Markets in Selective Central and Eastern European Countries

Author

Listed:
  • Anton Sorin Gabriel

    () (“Alexandru Ioan Cuza” University of Iasi)

  • Diaconasu Delia-Elena

    () (“Alexandru Ioan Cuza” University of Iasi)

Abstract

The transition economies of Central and Eastern Europe are trying to construct viable modern financial markets which provide a wide range of financial instruments. The paper focuses on the evolution of exchange-traded derivatives in Czech Republic, Hungary, Poland and Romania. The results indicate that the most developed exchange-traded derivatives market is the Polish one. In Hungary, the derivatives on currency rates and stock index futures are the most popular, while in Romania, trading takes place almost only in the market for futures on individual stocks. The use of derivatives in these countries is still limited even though some of these markets have registered a significant development. The main products have as underlying stock and currencies, while interest rate based instruments are still illiquid and underdeveloped.

Suggested Citation

  • Anton Sorin Gabriel & Diaconasu Delia-Elena, 2011. "Development of Exchange-Traded Derivatives Markets in Selective Central and Eastern European Countries," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(1), pages 104-109, May.
  • Handle: RePEc:ovi:oviste:v:11:y:2011:i:1:p:104-109
    as

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    File URL: http://stec.univ-ovidius.ro/html/anale/RO/cuprins%20rezumate/rezumate2011p1.pdf
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    References listed on IDEAS

    as
    1. Grigorescu, Adriana, 2009. "Renewal marketing management in public and business organizations," MPRA Paper 25128, University Library of Munich, Germany.
    2. Nicolae Al. Pop & Anca-Daniela Vl?doi, 2009. "The marketer-a complex specialist, a man of concept, decision and action," The AMFITEATRU ECONOMIC journal, Academy of Economic Studies - Bucharest, Romania, vol. 11(25), pages 9-20, February.
    3. Kaplan, Andreas M. & Haenlein, Michael, 2009. "The increasing importance of public marketing: Explanations, applications and limits of marketing within public administration," European Management Journal, Elsevier, vol. 27(3), pages 197-212, June.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    stock exchange; derivatives; futures; Central and Eastern Europe.;

    JEL classification:

    • G13 - Financial Economics - - General Financial Markets - - - Contingent Pricing; Futures Pricing
    • G15 - Financial Economics - - General Financial Markets - - - International Financial Markets
    • O16 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment; Corporate Finance and Governance
    • O52 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Europe

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