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The Impact Of The Global Financial Crisis On A European Frontier Market: The Case Of Bucharest Stock Exchange

Author

Listed:
  • Cornelia POP

    (Faculty of Business, Babes-Bolyai University, Cluj-Napoca, Romania)

  • Iustin POP

    (Faculty of Business, Babes-Bolyai University, Cluj-Napoca, Romania)

Abstract

The present paper tries to highligh the impact of the 2007-2009 global financial crisis on the Bucharest Stock Exchange. Bucharest Stock Exchange is a small frontier domestic capital market wich suffered a sever impact of the 2007-2009 global financial crisis in absolute values, similar with the impact of the 1997-1998 Asian crisis. While the Bucharest Stock Exchange tried to diversify its activity in the post- crisis period, a second wave of negative influences hit the market when the problems regarding sovereign debt of several EU member states surfaced in mid-2010. Bucharest Stock Exchange authorities should asses the institution's position within the CEE region and establish a strategy for afurther sustainable development which must combine, if possible, the advantages of an increased international exposure and the presence of international investors, with the core services a domestic capital market should offer in order to support the country's economic development.

Suggested Citation

  • Cornelia POP & Iustin POP, 2012. "The Impact Of The Global Financial Crisis On A European Frontier Market: The Case Of Bucharest Stock Exchange," HOLISTICA Journal of Business and Public Administration, Association Holistic Research Academic (HoRA), vol. 3(2), pages 18-49, July - De.
    • Handle: RePEc:urn:urnste:v:3:y:2012:i:2:p:18-49
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    More about this item

    Keywords

    crisis; frontier market; Romania;
    All these keywords.

    JEL classification:

    • G19 - Financial Economics - - General Financial Markets - - - Other

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