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The Stock Market


  • Deca Claudiu

    () (“Ovidius” University of Constanta, Faculty of Law and Administrative Sciences)


The foundation and the establishment of the stock market express the emergence of the exchange relationships, and of the market as a defining structure of modern economy. The well-known French historian Fernand Brandel states that “the stock market is the last floor of a market, but that of a market which never ends”, of a market which includes and dominates the entire economic reality. Once with the acknowledgement of the stock market, the exchange relationships have reached the complete expansion and maturation, and “the market forces” have got the main role in regulating the economic mechanism; the economy has become a market-driven type of economy. Nevertheless, it was necessary for a long evolutionary process in order to reach this situation, a process in which the material and institutional premises of the stock market have been gradually created.

Suggested Citation

  • Deca Claudiu, 2011. "The Stock Market," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(2), pages 328-334, May.
  • Handle: RePEc:ovi:oviste:v:xi:y:2011:i:9:p:328-334

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    stock market; function and role of the stock market; modern economy;

    JEL classification:

    • H5 - Public Economics - - National Government Expenditures and Related Policies


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