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Opportunities And Challenges Facing Frontier Stock Markets In The European Union: The Case Of Bulgaria And Slovakia

Author

Listed:
  • STEFANOVA, Julia Stoyancheva

    (Economic Research Institute at the Bulgarian Academy of Sciences, Sofia, Bulgaria)

Abstract

The aim of the paper is to present empirical results regarding a tested framework of macroeconomic and institutional factors influening frontier stock markets in the European Union, namely that of Bulgaria and Slovakia. The report analyzes performance indicators on the two stock exchanges relating to market capitalization of listed companies, turnover, volatility indices etc. for the period 2004-2018 with the aim to underline trends, commonalities and divergencies on the Bulgarian frontier stock market as regards Slovakian frontier market being taken as a benchmark (Slovakia being Eurozone member country since 2009 and OECD member state). Based on the comparative empirical analysis of the two stock markets conclusions and recommendations have been drawn regarding problems and challenges facing fronier stock markets in the European Union in the context of the Capital Markets Union initiative.

Suggested Citation

  • STEFANOVA, Julia Stoyancheva, 2019. "Opportunities And Challenges Facing Frontier Stock Markets In The European Union: The Case Of Bulgaria And Slovakia," Journal of Financial and Monetary Economics, Centre of Financial and Monetary Research "Victor Slavescu", vol. 7(1), pages 121-134, October.
    • Handle: RePEc:vls:rojfme:v:7:y:2019:i:1:p:121-134
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    JEL classification:

    • G19 - Financial Economics - - General Financial Markets - - - Other
    • G23 - Financial Economics - - Financial Institutions and Services - - - Non-bank Financial Institutions; Financial Instruments; Institutional Investors
    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation

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